Inspector Market Conduct – Insurance at Pensions and Insurance Authority

EMPLOYMENT OPPORTUNITY

The Pensions and Insurance Authority is the regulatory and supervisory authority for the Pensions and Insurance Industry in Zambia as provided for under the Pensions Scheme Regulations Act No.28 of 1996 (as amended) and the Insurance Act No. 27 of 1997 (as amended). The Authority is empowered under section 5 of the Pensions Scheme Regulations Act No. 28 of 1996 to formulate standards in the conduct of Insurance and Pensions business. The Authority supervises and regulates insurance companies, reinsurance companies, insurance intermediaries, pension schemes, fund managers and fund administrators.

The Authority hereby invites applications from suitably qualified and experienced candidates to fill the following position:

Inspector Market Conduct – Insurance – One (1) Position

Overall Responsibilities:

• Reporting to the Manager- Market Conduct -Insurance, the Inspector will conduct off-site and on-site risk assessments and inspections of the Insurance industry aimed at ensuring that regulated entities comply with the Insurance Act as well as comply withAnti-Money Laundering Legislation.
• Undertake market conduct inspections on regulated entities, prepares reports and recommend supervisory actions where required.
• Undertake Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) inspections on regulated entities, prepares compliance reports and recommend supervisory actions where required.
• Review complaints from the general public and regulated entities, conduct necessary investigations and provide recommendations.
• Maintain and update a Market Conduct Supervisory Information Centre Participate in market conduct, consumer education and AML/CFT, activities, training, awareness and capacity building programmes
• Assist the Authority in the formulation of laws, regulations, statutory standards, supervisory procedures on market conduct in the insurance sector.

Requirements:

• Full Grade 12 certificate with credit or better in Mathematics and pass in English.
• Degree in either Accounting/Business Administration, Insurance, Law, Business related or/ and full professional accountancy qualification such as ACCA/CIMA/ZICA, or Cll.
• Masters qualifications as well as Certificate in Anti Money Laundering shall be added advantage.
• 3 years relevant experience in the financial sector or financial system supervision.

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