Recruitment Notification for the Posts of Senior Joint Director / Joint Director / Deputy Director (s)
Insurance Regulatory and Development Authority (IRDA)
3rd Floor, Parisrama Bhavan,
Basheerbagh, Hyderabad – 500 004
Tel: +91-40-23381100
Applications are invited for the following posts in the Insurance Regulatory and Development Authority, Hyderabad:
1) Senior Joint Director / Joint Director (Legal)
Payscale: Rs.32600 –1000 (3) – 35600 [Pre-revised]
Payscale: Rs.28800-900(2)-1000(2)-32600 for JD) [Pre-revised]
Total Number of posts: 01
Age Limit: Maximum age 45 years
Minimum Qualification: Post Graduation in Law or First Class Bachelor’s Degree in Law.
Minimum Experience: 20/15 years of relevant experience in policy, regulatory and inter-regulatory, enforcement, Legislative issues. Must have worked at the level of GM/DGM or equivalent cadre for a minimum period of four years in RBI/SEBI/PSU or any other regulatory bodies in the area of supervision of financial institutions
2) Senior Joint Director /
Joint Director (Inspection)
Payscale: Rs.32600 –1000 (3) – 35600 [Pre-revised]
Payscale: Rs.28800-900(2)-1000(2)-32600 for JD) [Pre-revised]
Total Number of posts: 01
Age Limit: Maximum age 45 years
Minimum Qualification: Post Graduation or First Class Bachelor’s Degree preferably in Commerce/ Business Administration/ MBA in Financial Management.
Minimum Experience: 20/15 years of relevant experience in supervision of Banking, Capital Markets, Insurance Sector etc. Must have worked at the level of GM/DGM or equivalent cadre for a minimum period of four years in RBI/SEBI or any other regulatory bodies in the area of supervision of financial institutions.
3) Joint Director (Life Insurance)
Payscale: Rs.28800-900(2)-1000(2)-32600 [Pre-revised]
Total Number of posts: 01
Age Limit: Maximum age 45 years
Minimum Qualification: Post Graduation or First Class Bachelor’s Degree preferably in Commerce/ Business Administration/ MBA in Financial Management with FII or equivalent.
Minimum Experience: 15 years of relevant experience in Insurance sector. Preferably in policy, regulatory and inter-regulatory, enforcement issues pertaining to Life Insurance Companies. Must have worked at the level of Sr.DM/RM in PSUs or equivalent cadre for a minimum period of four years in the area of life insurance.
4) Joint Director (Intermediaries)
Payscale: Rs.28800-900(2)-1000(2)-32600 [Pre-revised]
Total Number of posts: 01
Age Limit: Maximum age 45 years
Minimum Qualification: Post Graduation or First Class Bachelor’s Degree preferably in Commerce/ Business Administration/ MBA in Financial Management.
Minimum Experience: 15 years of relevant experience in policy, regulatory and inter-regulatory, enforcement issues pertaining to Insurance Companies & brokers. Must have worked at the level of Sr.DM/RM/CM in PSUs or equivalent cadre for a minimum period of four years in the area of insurance.
5) Deputy Director (Actuarial)
Payscale :Rs.24875-800(5)-28875-900(5)-34275 (11Y) [Pre-revised]
Total Number of posts: 03
Age Limit: Maximum age 45 years
Minimum Qualification: Graduate and Associate of Institute of Actuaries of India or equivalent.
Minimum Experience: 12 years of relevant experience in actuarial issues in regulatory aspects pertaining to Insurance Companies. Must have worked at the level of DM in PSUs or equivalent cadre for a minimum period of five years in the area of actuarial matters.
6) Deputy Director (Accounts)
Payscale :Rs.24875-800(5)-28875-900(5)-34275 (11Y) [Pre-revised]
Total Number of posts: 03
Age Limit: Maximum age 45 years
Minimum Qualification: Associate of Institute of Chartered Accounts of India or equivalent.
Minimum Experience: 12 years of relevant experience in finance and accounts in relation to policy, regulatory and inter-regulatory, enforcement issues pertaining to Insurance Companies, brokers, agents etc. Must have worked at the level of DM in PSUs or equivalent cadre for a minimum period of five years in the area of insurance.
1. Reservations / Relaxation in age for the above posts would be applicable as per the Rules of Government of India.
2. Age would be reckoned as on 01st March, 2011.
3. Age limit may be relaxed for the employees working in Tariff Advisory Committee, officers of IRDA, officers of RBI, officers of SEBI and officers of PSU bodies and in any other exceptional circumstances, if the applicant is found suitable.
Mode of Selection
a) Screening Committee constituted by the Authority will examine the applications and candidates qualifying the criteria may be considered for being called for written test/interview/selection.
b) Merely fulfilling the eligibility conditions as regards age/qualifications/experience, after short-listing of candidates, would not automatically entitle any candidate to be called for written test/interview/selection..
c) The selected candidates will be posted in the office of the Authority located in Hyderabad and at such other places where the Authority may establish its offices.
d) The Authority reserves the right to modify the selection procedure, at its discretion.
Written Examination:
a) Written Examination of around 3 hours duration for 100 marks may be held. Candidates would have to secure minimum marks separately for each test as prescribed by the Authority, in their respective fields.
b) The Written Examination may be held at Hyderabad. Candidates will be required to appear for the Written Examination at their own cost.
c) Candidates will be short-listed for interview based on the aggregate marks obtained in the written examination. The Authority reserves the right to modify the selection procedure, if deemed fit.
How to Apply:
Applications complete in all respects must be sent in a closed envelope necessarily superscribed “APPLICATION FOR THE POST OF SENIOR JOINT DIRECTOR, JOINT DIRECTOR & DEPUTY DIRECTOR to the following address:-
The Executive Director (Administration)
Insurance Regulatory and Development Authority
3rd Floor, Parisrama Bhavanam , Basher Bagh,
Hyderabad – 500 004
Last date for receipt of filled-in Application is 5th March 2011.
Checklist for Submission of the Application Form:
a) Candidates who satisfy the eligibility norms may apply giving their bio data strictly in the given format.
b) The Format of the Application Form must be in a printed form (A4 Sheet). Application form can be downloaded from the IRDA Website (Please download .doc file)
c) Name and Address should be written in capital letters in English only, since processing is computerized.
d) Candidates should ensure that all the entries have been correctly filled in the application and the photograph is signed.
e) Enclosures: Proof of age, caste certificate, qualification, marks list, experience certificate etc. duly attested by a Gazetted Officer.
f) On the cover containing the application, the post applied for, should be indicated.
g) Applications not in the prescribed Form or received after 5th March 2011 will not be entertained.
Authority takes no responsibility for any delay in receipt of applications or loss thereof in postal transit.
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ABOUT Insurance Regulatory and Development Authority (IRDA)
The Insurance Regulatory and Development Authority (IRDA) is a national agency of the Government of India, based in Hyderabad. It was formed by an act of Indian Parliament known as IRDA Act 1999, which was amended in 2002 to incorporate some emerging requirements. Mission of IRDA as stated in the act is "to protect the interests of the policyholders, to regulate, promote and ensure orderly growth of the insurance industry and for matters connected therewith or incidental thereto."
In 2010, the Government of India ruled that the Unit Linked Insurance Plans (ULIPs) will be governed by IRDA, and not the market regulator Securities and Exchange Board of India.
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