Job Summary
Job Summary
The Insurance Supervision Officer is responsible for supporting prudential supervision of regulated insurance entities through data analysis, compliance reviews, risk assessments and regulatory approvals.
The role contributes to effective insurance sector regulation by monitoring compliance with laws and regulations, supporting supervisory activities and maintaining accurate industry information for regulatory decision-making.Key ResponsibilitiesRegulatory Compliance and Supervision
Key Responsibilities
Conduct preliminary assessments of non-compliance with insurance laws, regulations and supervisory requirements by regulated entities.
Assist in carrying out off-site surveillance and on-site inspections of regulated entities.
Support development and maintenance of up-to-date risk profiles for regulated entities.
Prepare reports and recommendations arising from supervisory reviews.Data Collection and Analysis
Collect, clean and validate regulatory data for completeness, accuracy and consistency.
Analyze supervisory information to support decision-making and regulatory oversight.
Collect and analyze data from inspections, risk assessments and industry trends.
Develop information that supports supervisory planning and risk-based regulation.Corporate Approvals and Regulatory Reviews
Conduct preliminary analysis of requests for corporate changes submitted by regulated entities.
Review applications relating to approval of directors, principal officers, senior managers and key officers.
Assess applications relating to expatriate recruitment and work permit approvals.
Verify completeness and accuracy of information submitted for regulatory approval.Records and Information Management
Maintain and continuously update databases of registered (adsbygoogle=window.adsbygoogle||[]).push({});insurers and regulated entities.
Ensure regulatory information remains accurate and accessible.
Support preparation and maintenance of supervisory records and documentation.Administrative and Departmental Support
Facilitate departmental logistics including organization of meetings, workshops and stakeholder engagements.
Support smooth flow of information within the department.
Assist with administrative coordination of regulatory and supervisory activities.QualificationsApplicants should possess:
Qualifications
A Bachelor's Degree in Insurance, Finance, Accounting, Risk Management, Law, Economics or an equivalent qualification from a recognized institution.Additional Requirements
Additional Requirements
Proficiency in computer applications.Required Competencies
Required Competencies
Communication skills.
Interpersonal skills.
Analytical and problem-solving skills.
Report writing skills.
Regulatory compliance and insurance supervision knowledge.
Data analysis and interpretation skills.
Attention to detail and accuracy.