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Applications are
invited from suitably qualified Lesotho nationals to
fill the position of Section Head, On-Site
Inspections in the Insurance Supervision Division at
the Central Bank of Lesotho. This is a professional
position and the incumbent will be directly
responsible to Head, Insurance Supervision Division.
DUTIES AND
RESPONSIBILITIES
1. To
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 Asset Quality,
Liquidity, Funds Management and Sensitivity to
market risks.
2. To
ensure that insurance companies and brokers are
assessed for compliance with the statute,
regulations as well as the industry code of conduct.
3. To
ensure that inspection procedures provide reasonable
assurance that insurance companies and brokers deal
with their clients openly and fully disclose all
relevant information to them.
4. To
prepare the Inspection Section’s annual plan and
work programme to guide inspectors in their duties;
5. 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.
6. 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;
7. Co-operate
with other supervisory authorities in cases of
cross-border insurance.
8. 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.
9.
Follow-up compliance
with directives and other corrective measures issued
by the Commissioner.
10.
Review the examination
reports prepared by inspectors to ensure their
comprehensiveness and appropriateness, taking into
account the relevant legal and regulatory
requirements as well as the best international
practices and the guidelines detailed in the
Examination Manual.
QUALIFICATIONS
AND EXPERIENCE:
B. Comm. (Insurance)
or equivalent Insurance Qualification.
In addition, candidates
must have relevant experience of five years, three
of which should have been in auditing. Computer
skills will be an added advantage.
Letters of application,
certified copies of certificates and transcripts,
detailed curriculum vitae and two letters of
referees should be mailed or delivered to:-
Senior Manager,
Recruitment & Training
Central Bank of Lesotho
Cnr.
Airport & Moshoeshoe Rd
P.O. Box 1184
Maseru 100
Closing date: Friday,
09 September 2005 |
