Insurance Regulatory Authority

The Insurance Regulatory Authority is hiring a Senior Financial Analyst responsible for assessing and monitoring the financial soundness of the industry, conducting macro-prudential surveillance, data analytics, reporting, and publication with the aim of protecting policyholders and insurance beneficiaries.

Requirements:

  • – Bachelor’s degree in Actuarial Science, Statistics, Commerce, Business Administration, or Finance from a recognized institution.
  • – Meets the provisions of Chapter Six of the Constitution.

Duties and Responsibilities:

  • – Compile statistics of insurers and check for completeness, including annual insurance statistics, quarterly insurance statistics, quarterly insurance industry claims statistics, Monetary Financial Statistics (MFS), and Kenya National Bureau of Statistics’ data.
  • – Prepare periodic reports on performance, trends analysis, and projections for the insurance industry, including monthly gross direct premium report, monthly summary of claims report, quarterly insurance industry report, and annual insurance industry report.
  • – Conduct data validation of quarterly and annual insurance statistics to check on completeness and consistency of insurance data.
  • – Update various performance indicators, ratios, and industry benchmarks and averages.
  • – Analyze, evaluate, and interpret insurers’ financial statements and returns to ensure disclosures regarding various insurance parameters such as insurance premiums, income, expenditure, assets, and liabilities.
  • – Create monthly, quarterly, and annual returns and recommend continuous updates to ensure the returns meet acceptable standards and that all the necessary disclosures are made.
  • – Conduct analyses on financial stability and macro-prudential policy.
  • – Carry out regular macro stress tests and prepare documents for public communication of those tests.
  • – Participate in preparations for conducting research work in the field of financial stability, including collaboration with other institutions and professionals such as participating in FinAccess survey.
  • – Continuously evaluate financial returns to ensure they meet acceptable standards and that all the necessary disclosures are made.

Key Competencies and Skills:

  • – Strong communication and presentation skills.
  • – Good analytical skills.
  • – Problem-solving abilities.
  • – Professionalism.

Application Process:

1. Applicants must submit their biodata online by filling the provided form.
2. Applicants must send their hard copy applications enclosing their Curriculum Vitae, copies of relevant academic and professional certificates, copy of National Identification Card, telephone number, email address, and names and addresses of three referees familiar with their professional background and experience.

Hard Copy Applications should be addressed to:

Commissioner of Insurance & Chief Executive Officer
Insurance Regulatory Authority
Zep-Re Place
P.O Box 43505-00100
Nairobi

The sealed envelope should be marked “Confidential” and indicate the job reference (REF: FA/12 for Financial Analyst)

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