Fresher Inspection Officer – Life Job Vacancies – Insurance Regulatory Authority of Uganda (IRA)

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Job Title:   Inspection Officer – Life (Fresher Jobs)  

Organisation: Insurance Regulatory Authority of Uganda (IRA)

Duty Station:  Kampala, Uganda

Reports to: Senior Inspection Officer

 

About US:

The Insurance Regulatory Authority of Uganda (IRA) was established under section 14 of the Insurance Statute 1996 now The Insurance Act, (Chap213) Laws of Uganda, 2000 (Insurance Act) which came into effect on 4th April 1996 and commenced operations in April 1997. The establishment of the Insurance Regulatory Authority of Uganda was a consequence of Government’s adoption of the liberalization and privatization policies which ended its role of directly engaging in the provision of goods and services and taking on the role of supervisor or regulator.

 

Job Summary:  The Inspection Officer – Life will mainly monitor and accelerate the growth of the Life products through supporting the Manager Inspection in achieving the set operational and institutional targets in accordance with the provisions of the Insurance Act 2017

 

Key Duties and Responsibilities:

  • Carry out Off-Site and On-Site Inspection of Life insurance companies, insurance brokers, and loss assessors/adjusters.
  • Review licence applications for Life insurance companies, insurance brokers, loss assessors/adjusters and insurance agents.
  • Respond to and follow-up on issues raised in the inspection of and other correspondence with insurance players.
  • Monitor the implementation of the provisions of the Insurance Act 2000 (as amended) and advice on the adequacy of the laws and regulations.
  • Review proposals and policy forms, reinsurance arrangements and premium rates for life insurance companies.
  • Provide insurance advice to external entities.
  • Advise management and external entities on issues regarding Life insurance.
  • Keenly analyse and prepare draft reports for management on issues regarding life insurance.
  • Any other duties assigned from time to time.

 

Key Performance Indicators

  • Timely submission of inspection reports_
  • Response to inquiries,
  • Conduct periodic inspection.
  • Compliance to statutory regulations.


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Qualifications, Skills and Experience:

  • The applicant must hold a relevant Bachelor’s (Honors) degree or its equivalent from a recognized University or higher institution of learning.
  • Personal presentation
  • Analytical Abilities
  • Knowledge of Insurance Principles
  • Interpersonal Skills
  • Organizational Skills
  • Communication Skills

 

How to Apply:

All suitably qualified candidates should submit their applications together with copies of detailed up-to-date CVs and at least three referees to:

 

The Chief Executive Officer,

Insurance Regulatory Authority of Uganda,

Plot 6 Lumumba Avenue, Insurance Tower,

P.O. Box 22855, Kampala

 

Or Email to: vacancies@ira.go.ug

 

NB: Only shortlisted candidates will be contacted.

 

Deadline: 30th January 2023 by 5:00pm

 

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