Summary
Date Posted: Thursday, July 20 2023, Base Salary: Not Disclosed

JOB DETAILS:
Job Purpose
Reporting to the Board of Directors, the Registrar/CEO, shall be responsible for the overall statutory functions of regulating and supervising the pension and insurance industries in accordance with provisions of the Pension Scheme Regulation Act, 1996, the Insurance Act, 2021 and other applicable laws. The jobholder shall therefore be responsible for strategy and operations of the Authority in order to successfully realise its vision, mission and objectives.

Specific Duties
• Directs the development and implementation of the Authority’s strategic plan, policies and operating guidelines designed to sustain and achieve growth of the pensions and insurance industries within realistic time frames.
• In consultation with the Board, registers and deregisters pension schemes as well as grants and revokes licences for service providers and insurance entities in accordance with the relevant Acts to protect the interest of pensioners, policy holders and sponsors.
• Monitors the viability of regulated entities and ensures that they are operating on sound financial and actuarial principles.
• Reports and provides timely advice to the Board of Directors on the performance and well-being of the Authority so that appropriate policies and courses of action can be taken to ensure the Authority’s statutory mandate is accomplished.
• Protects the rights, benefits and interests of pension scheme members and insurance policyholders in accordance with the Pension Scheme Regulation Act and the Insurance Act.
• Evaluates and considers technical reports and recommendations arising from all departments to ensure that appropriate solutions and/or regulations are developed in keeping with best practice within the region and beyond.
• Ensures a consolidated and comprehensive budget is developed aimed at providing financial and material resources required to achieve the Authority’s objectives whilst meeting its obligations in the most cost effective manner.
• Monitors and evaluates the application and expenditure of the Authority’s financial resources to ensure that resources are allocated to where they are needed and most beneficial to the interest of the Authority, taking corrective action as necessary.
• Sets and enforces standards that meet local and international standards and best practice for the conduct of the business of insurance and pensions schemes in Zambia.
• Advises the Government on policies and adequate insurance protection of national assets and properties to safeguard against losses.
• Reviews and evaluates the performance of the Authority, monitors the implementation of the Authority’s strategy against agreed benchmarks quarterly, bi-annual and annually, taking corrective action to ensure that departmental targets are achieved and plans realised efficiently and effectively.
• Institutes controls, checks, systems and procedures as well as policies that contribute to the effective and efficient management of operations and financial affairs at minimum risk but at optimum benefit to the Authority.
• Provides leadership to members of staff while cultivating a strong work culture, operating principles and good governance in the Authority to foster a good reputation and confidence as a Regulator.
• Directs and maintains sound human resource policies systems and procedures, to attract and retain suitably qualified and motivated staff and fostering a healthy industrial relations climate within the Authority.
• Projects a positive image of the Authority to local and international organisations through interactions, partnerships, cooperation, contributions and projecting of positive branding and promotion of the Authority.
• Cultivates and nurtures good relations with the Government, international bodies and all stakeholders to foster cooperation and goodwill necessary for the success of the Authority.

Requirements
• Full Grade 12 certificate or equivalent with credit or better in Mathematics and English.
• Degree in Actuarial analysis, business management, law or accounting.
• Master’s Degree in Actuarial analysis, business management, law or accounting.
• Over Ten (10) years’ experience including industrial exposure, 5 years at Management level to gain necessary exposure in the pension or insurance industry
• Proven ability in developing and executing strategy.
• Strong leadership, organizational and interpersonal skills.
• Demonstrated experience in corporate finance, governance, performance management as well as exposure to audit, risk management and business continuity plans.
• Commitment to corporate governance principles.
• Amember of a professional institution in a related field.

Applicants meeting the above qualifications and experience should submit an application letter, certified or ZAQA verified copies of qualifications and Curriculum Vitae in a sealed envelope. The envelope must clearly be marked with the position applied for and forwarded to the address below, not later than 24th July, 2023.


Work Hours: 8

Experience in Months: 120

Level of Education: Postgraduate Degree

Job application procedure

Applicants should apply for one (1) position, only. Multiple applications will result in complete disqualification.
The Board Chairperson
Pension and Insurance Authority
Stand No. 4618, Lubwa Road, Rhodespark
P/Bag 30x, Ridgeway
LUSAKA

Please note that the Authority is an equal opportunity employer and only shortlisted applicants will be contacted.

Please further note that candidates who had earlier applied for the above positions shall not be expected to re-apply.


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