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Nofitication
Ref. No: HR/Deputation/Feb/2019 Date: 14-02-2019
Appointment of Officers on Deputation from eligible officers working in PSU Insurance Companies and Financial Sector Regulators

1.    Insurance Regulatory and Development Authority of India (IRDAI) is a statutory body formed under an Act of the Parliament.

 

2.    The Authority proposes to fill up  the  following  vacancies  as  Officers on Special Duty (OSD) through  deputation of  Officers  from  PSU Insurance companies and Financial Sector Regulators.

3.    The details of the vacancies are given below:

 

S. No

Details

Manager

in Grade B

Assistant General Manager

in Grade C

Deputy General Manager

in Grade D

1

 

SCALE OF PAY

(in Rs.)

35150-1750(9)-50900-EB-1750(2)-54400-2000(4)-62400 (16 years)

49000-1750(3)-54250-1900(2)-58050-2000(4)-66050-EB-2000(2)70050-2150(1)-72200 (13 years)

68500-2150(2)-72800-2250(6)-86300 (9 years)

2

SKILL STREAM

Actuarial

NO. OF VACANCIES

1

1

-

Accounts

2

1

-

General

3

3

-

General- Estates

1

-

-

IT

1

2

-

Legal

-

1

1

Life

7

3

3

Non-Life

10

3

2

TOTAL NO. OF VACANCIES

25

14

6

3

AGE

Maximum age not to exceed

38

50

50

               

 

The eligible Officers may submit their applications in the prescribed format through proper channel only, i.e., through their cadre controlling authority so as to reach the undersigned on or before 5 pm on 7th March, 2019.

 

Executive Director (Gen)

Insurance Regulatory and Development Authority of India

Survey No. 115/1, Financial District, Nanakramguda,

Hyderabad - 500 032, Telangana.

 

 

4.    Details of eligibility and other conditions are to be fulfilled as on the last date of receipt of applications, i.e., 7th March, 2019.

 

5.  Eligibility Conditions:

    

5.1. Eligibility conditions for the post of Deputy General Manager – Legal:

a)    Minimum academic qualifications: Graduation with 60% marks and LL.M with 60% marks.

b)    Level of Officers eligible:

             (i) PSU Insurance companies      

·         Scale V Officers, or

·         Scale IV Officers with minimum 5 years of service in that scale.

 

             (ii) Financial Sector Regulators

·         Officers in Grade D and in the pay scale equivalent to 68500 - 2150 (2) - 72800 – 2250 (6) - 86300 with associated grade allowance.

c)    Experience: 15 years as an Officer in PSU Insurance company/ies and/or Financial Sector Regulators with minimum 5 years in related field of work.

d)    Preference will be given to officers directly handling legal matters including HR or Service matters.

 

5.2. Eligibility conditions for the post of Deputy General Manager – Life:

a)    Minimum academic qualifications: Post Graduation with 60% marks and Fellow of Insurance Institute of India (FIII) or equivalent.

b)    Level of Officers eligible:

   (i) Life Insurance Corporation of India

·         Scale V Officers, or  

·         Scale IV Officers with minimum 5 years of service in that scale.

c)    Experience: 15 years as an Officer in LIC of India with minimum 5 years in related field of work.

 

5.3. Eligibility conditions for the post of Deputy General Manager – Non Life:

a)    Minimum academic qualifications: Post Graduation with 60% marks and Fellow of Insurance Institute of India (FIII) or equivalent.

b)    Level of Officers eligible:

                  (i) General Insurance Corporation of India

                 (ii) National Insurance Co. Ltd

                 (iii) New India Assurance Co. Ltd

                 (iv) Oriental Insurance Co. Ltd

                  (v) United India Insurance Co. Ltd

                 (vi) Agriculture Insurance Co. of India Ltd

                (vii) Export Credit Guarantee Corporation of India

 

·         Scale V Officers, or  

·         Scale IV Officers with minimum 5 years of service in that scale.

                    

c)    Experience: 15 years as an Officer in Insurance company/ies mentioned in para 5.3. (b) with minimum 5 years in related field of work.

 

5.4. Eligibility conditions for the post of Assistant General Manager – Actuarial:

a)    Minimum academic qualifications: Graduation with 60% marks and Fellow of the Institute of Actuaries of India (IAI).

b)    Level of Officers eligible:  

         (i) PSU Insurance companies

·         Scale IV Officers, or

·         Scale III Officers with minimum 5 years of service in that scale.

c)    Experience: 12 years as an Officer in PSU Insurance company/ies with minimum 5 years in related field of work.

 

5.5. Eligibility conditions for the post of Assistant General Manager– Accounts:

 

a)    Minimum academic qualifications: Graduation with 60% and FCA/FICWA/FCS/CFA

b)    Level of Officers eligible:

   (i) PSU Insurance companies

·         Scale IV Officers, or

·         Scale III Officers with minimum 5 years of service in that scale.

              (ii) Financial Sector Regulators

·         Officers in Grade C and in the pay scale equivalent to 49000-1750(3)-54250-1900(2)-58050-2000(4)-66050-EB 2000(2)-70050-2150(1)-72200 (13 years) with associated grade allowance.

c)    Experience: 12 years as an Officer in PSU Insurance company/ies and/or Financial Sector Regulators with minimum 5 years in related field of work.

 

 

5.6. Eligibility conditions for the post of Assistant General Manager – General:

a)    Minimum academic qualifications: Post Graduation with 60% marks and Fellow of Insurance Institute of India (FIII) or equivalent.

b)    Level of Officers eligible:

               (i) PSU Insurance companies

·         Scale IV Officers, or

·         Scale III Officers with minimum 5 years of service in that scale.

                         

c)    Experience: 12 years as an Officer in PSU Insurance company/ies with minimum 5 years in related field of work.

d)    These posts are earmarked for HR, Corporate Services, Sectoral Development (Research & Development) and Communication Departments. Related field of work includes experience of working in these departments. Preference would be given to Officers having qualification and experience in Research and Development activities, collection of information and analysis enabling policy making, coordination of Board Meetings and Board Secretarial related work, Consumer Awareness in the field of Financial Education.

 

5.7. Eligibility conditions for the post of Assistant General Manager – IT:

a)    Minimum academic qualifications: B.Tech (IT/CSE) or MCA or M.Tech or M.S. in IT with 60% marks

b)    Level of Officers eligible:

    (i) PSU Insurance companies

·         Scale IV Officers, or

·         Scale III Officers with minimum 5 years of service in that scale.

 

              (ii) Financial Sector Regulators

·         Officers in Grade C and in the pay scale equivalent to 49000-1750(3)-54250-1900(2)-58050-2000(4)-66050-EB 2000(2)-70050-2150(1)-72200 (13 years) with associated grade allowance.

 

c)    Experience: 12 years as an Officer in PSU Insurance company/ies and/or Financial Sector Regulators with minimum 5 years in related field of work.

 

 

 

 

 

5.8. Eligibility conditions for the post of Assistant General Manager – Legal:

a)    Minimum academic qualifications: Graduation with 60% marks and LL.M with 60% marks.

b)    Level of Officers eligible:

   (i) PSU Insurance companies

·         Scale IV Officers, or

·         Scale III Officers with minimum 5 years of service in that scale.

 

              (ii) Financial Sector Regulators

·         Officers in Grade C and in the pay scale equivalent to 49000-1750(3)-54250-1900(2)-58050-2000(4)-66050-EB 2000(2)-70050-2150(1)-72200 (13 years) with associated grade allowance.

 

    c)  Experience: 12 years as an Officer in PSU Insurance company/ies and/or
           Financial Sector Regulators with minimum 5 years in related field of work.

 

5.9. Eligibility conditions for the post of Assistant General Manager – Life:

 

a)    Minimum academic qualifications: Post Graduation with 60% marks and Fellow of Insurance Institute of India (FIII) or equivalent.

b)    Level of Officers eligible:

    (i)  Life Insurance Corporation of India

·         Scale IV officers, or

·         Scale III officers with minimum five years of service in that scale.

c) Experience: 12 years as an Officer in LIC of India with minimum 5 years in related field of work.

 

5.10. Eligibility conditions for the post of Assistant General Manager– Non Life:

 

a)    Minimum academic qualifications: Post Graduation with 60% marks and Fellow of Insurance Institute of India (FIII) or equivalent.

 

b)    Level of Officers eligible:

            (i) General Insurance Corporation of India

      (ii) National Insurance Co. Ltd

      (iii) New India Assurance Co. Ltd

                 (iv) Oriental Insurance Co. Ltd.

                 (v) United India Insurance Co. Ltd

                 (vi) Agriculture Insurance Co. of India Ltd

                 (vii) Export Credit Guarantee Corporation of India

 

·         Scale IV Officers, or 

·         Scale III Officers with minimum 5 years of service in that scale.

c)  Experience: 12 years as an Officer in Insurance company/ies mentioned in para 5.10. (b) with minimum 5 years in related field of work.

 

5.11. Eligibility conditions for the post of Manager – Actuarial:

a)    Minimum academic qualifications: Graduation with 60% marks and Pass in twelve (12) papers of the Institute of Actuaries of India (IAI)

b)    Level of Officers eligible:

    (i) PSU Insurance companies

·         Scale III Officers, or

·         Scale II Officers with minimum 5 years of service in that scale.

c) Experience: 8 years as an Officer in PSU Insurance company/ies with minimum 5 years in related field of work.

 

5.12. Eligibility conditions for the post of Manager – Accounts:

a)    Minimum academic qualifications: Graduation with 60% and ACA/AICWA/ACS/CFA

b)    Level of Officers eligible:

     (i)  PSU Insurance companies

·         Scale III Officers, or

·         Scale II Officers with minimum 5 years of service in that scale.

              

               (ii) Financial Sector Regulators

·         Officers in Grade B and in the pay scale equivalent to 35150-1750(9)-50900-EB-1750(2)-54400-2000(4)-62400 (16 years) with associated grade allowance

 

c)    Experience: 8 years as an Officer in PSU Insurance company/ies and/or Financial Sector Regulators with minimum 5 years in related field of work.

 

5.13. Eligibility conditions for the post of Manager – General:

a)    Minimum academic qualifications: Graduation with 60% marks and Fellow of Insurance Institute of India (FIII) or equivalent.

b)    Level of Officers eligible:

   (i) PSU Insurance companies

·         Scale III Officers, or

·         Scale II Officers with minimum 5 years of service in that scale.

c)    Experience: 8 years as an Officer in PSU Insurance company/ies with minimum 5 years in related field of work.

d)    These posts are earmarked for Sectoral Development (Research & Development) and Consumer Affairs Departments. Related field of work includes experience of working in these departments. Preference will be given to Officers having qualifications and work experience in research and development activities, collection of information and analysis enabling policy decision making and handling of consumer grievances.

 

5.14. Eligibility conditions for the post of Manager – General - Estates:

a)    Minimum academic qualifications: Graduation with 60% marks and Fellow of Insurance Institute of India (FIII) or equivalent.

b)  Level of Officers eligible:

    (i) PSU Insurance companies

·         Scale III Officers, or

·         Scale II Officers with minimum 5 years of service in that scale.

 

c)  Experience: 8 years as an Officer in PSU Insurance company/ies with minimum 5 years in related field of work. Qualification and Experience with given area will be preferred. Related field of work includes, and not restricted to, the following:

·         Overall security arrangements and maintenance at the offices and residential premises.

·          Planning, analyzing and assisting in providing various security arrangements in the Office buildings, supervising of various electronic systems for security measures such as CCTV, Fire Detection / Protection panels, Fire Fighting systems, Access Control System, Metal detector, Monitoring of Visitors.

·         Protocol, logistics and other arrangements for visits / meetings of senior officials.

·         Supervising the functioning of mailing desk and reception. Verification of dead stock, inventory register of Offices and residential premises.

 

 

5.15. Eligibility conditions for the post of Manager – IT:

a)    Minimum academic qualifications: B.Tech (IT/CSE) or MCA or M.Tech or M.S. in IT with 60% marks.

b)    Level of Officers eligible:

     (i)  PSU Insurance companies

·         Scale III Officers, or

·         Scale II Officers with minimum 5 years of service in that scale.

              

                (ii) Financial Sector Regulators

·         Officers in Grade B and in the pay scale equivalent to 35150-1750(9)-50900-EB-1750(2)-54400-2000(4)-62400 (16 years) with associated grade allowance.

c)    Experience: 8 years as an Officer in PSU Insurance company/ies and/or Financial Sector Regulators with minimum 5 years in related field of work.

 

5.16. Eligibility conditions for the post of Manager – Life:

a)    Minimum academic qualifications: Graduation with 60% marks and Fellow of Insurance Institute of India (FIII) or equivalent.

b)    Level of Officers eligible:

   (i) Life Insurance Corporation of India

·         Scale III Officers, or 

·         Scale II Officers with minimum 5 years of service in that scale.

     c) Experience: 8 years as an Officer in LIC of India with minimum 5 years in related  
         field of work.

 

5.17. Eligibility conditions for the post of Manager – Non Life:

a)    Minimum academic qualifications: Graduation with 60% marks and Fellow of Insurance Institute of India (FIII) or equivalent.

 

b)    Level of Officers eligible:

            (i) General Insurance Corporation of India

      (ii) National Insurance Co. Ltd

      (iii) New India Assurance Co. Ltd

                 (iv) Oriental Insurance Co. Ltd

                 (v) United India Insurance Co. Ltd

                 (vi) Agriculture Insurance Co. of India Ltd

                 (vii) Export Credit Guarantee Corporation of India

 

·      Scale III Officers, or 

·      Scale II Officers with minimum 5 years of service in that scale.

      

      c) Experience: 8 years as an Officer in Insurance company/ies
              mentioned in para 5.17. (b) with minimum 5 years in related field of work.

 

 

6.          General conditions:

 

 

6.1.     The Officers applying for any of the above posts should be holding an equivalent post given above with similar responsibilities and duties in PSU Insurance Companies and/or Financial Sector Regulators, wherever applicable and as per eligibility given under respective grades.

6.2.     Applications shall be made in the prescribed format only which is given at Annexure A and shall be submitted through proper channel only along with copies of Annual Performance Appraisal Reports of the last three years and vigilance clearance and Integrity Certificate before the last date of receipt of applications, ie. on or before 5 pm on 7th March, 2019.

6.3.     The Cadre Controlling Authority has to forward the applications of the interested Officers whose services can be spared by the Cadre Controlling Authority duly filling up Part II of the application along with attested copies of ACRs/APARs of the Officers for the last three years, i.e. from 2015-16 to 2017-18.

6.4.     Applications which are incomplete or not in the prescribed format or not received through proper channel before the last date of receipt of application are liable to be summarily rejected. It is clarified that any form of conditional forwarding from the employer or applications received without certificate of employer as given in Part II of Annexure – A shall be summarily rejected.

6.5.     IRDAI does not assume any responsibility for the candidates not being able to submit their applications within the last date on account of or for any reason beyond the control of IRDAI.

6.6.     In case of receipt of more than one application from a candidate, IRDAI reserves its right to consider their applications as per the candidate’s suitability.

 

 

6.7.     The following documents, in original, should be shown for verification and self-attested photocopies, in support of the candidate's eligibility and identity are to be invariably submitted at the time of Interview, failing which the candidate may not be permitted to appear for Interview:

          Proof of Date of Birth (Birth Certificate issued by the Competent Municipal Authorities or SSLC/ Std. X Certificate with DOB mentioned therein), Photo Identify Proof, academic qualifications (mark sheets of all years/semesters and Degree/PG/Diploma/other certificates), proof of the experience mentioned in the application and any other relevant document in support of eligibility.

6.8.     The period of deputation shall not exceed 3 (three) years.

6.9.     The officer on deputation shall be governed by the IRDAI Staff (Officers and Other Employees) Regulations, 2016 as amended from time to time and terms and conditions as laid down by IRDAI.

6.10.  An Officer appointed on deputation to IRDAI from other organizations, may elect to draw either the pay in the scale of pay of deputation post or scale of pay in the parent cadre plus deputation allowance thereon plus personal pay, if any, by exercising his option within 30 days from the date of joining IRDAI. In case the employee on deputation fails to submit the option within the aforesaid period, it shall be deemed that the employee has opted for the pay in the scale of pay of deputation post in IRDAI and his pay shall be fixed accordingly. The option once exercised by an employee on deputation regarding the pay shall be final.

6.11.  When an Officer appointed on deputation to IRDAI from other organizations receives promotion/proforma-promotion or is appointed to non-functional selection grade or up-gradation of scale in the parent cadre, the Officer shall have the option of either continuing with the existing pay and allowances in the ex-cadre post till the end of deputation or seek repatriation to claim the benefits of promotion. The pay fixation and reconsideration of ex-cadre post for a higher ex-cadre post shall not be entertained due to promotion in the parent cadre.

6.12.  The officers who served IRDAI on deputation for one term will not be considered for second term.

6.13.  The permanent Officers of IRDAI and Officers presently on deputation cannot apply for higher ex-cadre post at IRDAI.

6.14.  The Officer on deputation shall not be considered for any foreign deputation and/or deputation to any organization within India.

6.15.  The Officer on deputation shall not be eligible for permanent absorption or promotion in IRDAI.

6.16.  The Cadre Controlling Authority is required to confirm requisite qualifications/experience for the post mentioned by the applicant in the filled in application form and ensure that he/she fulfils the eligibility criteria for the said post before forwarding his/her application.

6.17.  IRDAI reserves the right to either relax or raise any conditions as per administrative exigencies for any skill stream and /or grade.

6.18.  IRDAI reserves the right to fill up the vacancies of a given skill stream and/or grade from another skill stream and/or grade in extraordinary circumstances, if adequate number of applications are not received for that skill stream and/or grade.

6.19.  IRDAI reserves the right to fill up less number of posts or not to fill up the posts at all.

6.20.  Canvassing or bringing any undue influence in any form will disqualify the candidate.

6.21.  Any candidate who knowingly or willfully furnishes incorrect or false particulars or suppressed material information, their candidature will be liable to be cancelled at any stage of the selection. If the candidate qualifies in the selection process and subsequently it is found that he/she does not fulfil the eligibility criteria, his/her candidature will be cancelled and if appointed on deputation, the same would be terminated without any notice or compensation.

6.22.  The shortlisted candidates will be called for a personal interface/Interview. IRDAI reserves the right to modify the selection procedure, if deemed fit.

6.23.  In all matters regarding eligibility, conduct of interview, assessment, prescribing minimum qualifying standards in Interview in relation to number of vacancies and communication of result and other allied matters, IRDAI’s decision shall be final and binding on the candidates and no correspondence or personal enquiries shall be entertained in this regard.

6.24.  Outstation candidates called for interview will be reimbursed Economy Class Air fare for the to and fro journey by the shortest route from the place of their workplace, to the place of interview, subject to submission of necessary documentary evidence.

6.25.  The selected Officers can be posted or transferred to any of the offices of IRDAI.

6.26.  IRDAI reserves the right to cancel the Advertisement fully or partly on any grounds.

6.27.  Any legal proceedings in respect of any matter of claim or dispute arising out of this notification and / or an application in response thereto can be instituted only in Hyderabad and courts/ tribunals / forums at Hyderabad only shall have sole and exclusive jurisdiction to try any cause / dispute.

6.28.  All correspondence will be made through Email and Speed Post. Therefore, all the candidates are advised to provide correct e-mail address and check their e-mails regularly for any updates from IRDAI.

6.29.  Corrigendum: Please note that Corrigendum, if any, issued on the above advertisement, will be published only on the IRDAI’s website.

 

(Hindi version of this advertisement is available on Hindi website of IRDAI)

 

Hyderabad

14.02.2019                                                                           Executive Director (Gen)

 

 

 

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