1.         DIRECTOR OF CORPORATE AFFAIRS

This is a senior management position and the incumbent will be directly responsible to the Governor. The successful candidate shall be appointed on a five-year contract period.

Job Summary

The Director of Corporate Affairs provides direction, management, leadership and oversight in the legal, board secretariat, regulation and public relations functions of the Bank.

Duties and Responsibilities

-     Directs, plans, organizes, coordinates and evaluates the daily activities of the divisions falling within the Department to ensure efficient delivery of the mandate of the Department as a whole.

-     Proposes legal policies and procedures, and implements changes and improvements as approved by Management and the Board of Directors.

-     Provides Secretarial duties to the Board of Directors and communicates resolutions of the Board accordingly.

-     Manages the weekly and periodical secretarial function for the Executive Committee and the Expanded Executive Committee as required. Represents the Department of Corporate Affairs in the Bank’s Executive Committee.

-     Provides administrative and technical legal expertise to the Board and its committees, the Governor and all departments of the Bank, including managing and reporting on cases under consideration by courts of law and tribunals.

-      Provides leadership and management of compliance functions of the Bank.

-      Proposes the public relations policy and strategy of the Bank, and manages implementation of approved policies, strategies and guidelines. 

-      Manages the Bank’s overall insurance portfolio, and recommends for approval the most competitive mechanisms for protecting the insurable interests of the Bank. 

-     Manages custodianship of the Bank’s legal instruments in order to ensure optimal safeguarding of the legal and juristic interests of the Bank.

-      Performs such other related duties as directed by the Governor, which duties shall be within the scope of the operations of the Department of Corporate Affairs.

Qualifications, Experience and Other Requirements

-     A University Masters degree in Law or equivalent qualification

-     A minimum of ten years relevant experience, five of which are at senior managerial position from a background comparable to the Central Bank of Lesotho.

-     The candidate must also be an admitted advocate of the High Court and Court of Appeal of Lesotho.

-     The incumbent must be someone who can work and communicate well with others with good interpersonal skills, has ability to work under pressure, and has good planning and organizational skills.

2.   SECTION HEAD, ON-SITE INSPECTIONS – INSURANCE SUPERVISION  DIVISION

Job SummaryTo ensure that insurance companies, brokers and pension funds are inspected   effectively so as to determine their financial soundness and their compliance with statutory and regulatory requirements as well as internationally accepted practices.

Duties and Responsibilities

-     Ensure that the inspectors conduct examinations of insurance companies and brokers in order to evaluate the overall financial condition of the examined institution through the assessment of capital, Asset Quality (investments), Reinsurance (arrangements), Actuarial Liabilities(technical liabilities), Management and corporate Governance, Earnings, Liquidity and Asset/Liability Matching, Subsidiaries and Related Parties ( CARAMELS)

 

-     To ensure that insurance companies and insurance brokers are assessed for compliance with the statute, regulations as well as the industry code of conduct.

 

-     To ensure that inspection procedures provide reasonable assurance that insurance companies and insurance brokers deal with their clients openly and fully disclose all relevant information to them.

 

-     To prepare the Inspection Section annual plan and work programme to guide inspectors in their duties;

 

-     Determine the methodology and resources required in conducting the examination, that is, personnel numbers and responsibilities, equipment as well as the type and duration of the assignment.

 

-     Confer with the designated Inspector-in-charge about specific instructions and the areas of operations of the financial institution which need particular attention or emphasis;

 

-     Co-operate with other supervisory authorities in cases of cross-border insurance.

 

-     Initiate the preparation of the letter of authority to conduct inspections detailing the initial list of documents, reports and schedules that are to be made available to the inspection team.

 

-     Follow-up compliance with directives and other corrective measures issued by the Commissioner.

 

-     Prepare the inspection report to which are comprehensive and appropriate, taking into account the relevant legal and regulatory requirements as well as the best international practices and the guidelines detailed in the Inspection Manual.

 

-     Link divisional and section objectives to individual inspector’s key result areas, manage inspectors’ performance and prepare performance appraisal reports for inspectors in order to recommend appropriate recognition of individual performance and determine skills gaps and long term potential.

Qualifications, Experience and Other Requirements

-     A minimum qualification of B. Comm. Insurance OR B. Comm. Accounting plus Training in Insurance.

-     Three years experience in the insurance industry, and

-     Five years experience in Auditing.