Government
of India
Ministry of
Finance
Department
of Financial Services
Jeevan Deep Building, 2nd floor
Sansad Marg, New Delhi -110 001
Applications
invited for appointment to the office of whole-time Member (Finance and Investment)
in the Insurance Regulatory and Development Authority of India
The Insurance Regulatory and Development
Authority of India is established by the Insurance Regulatory and Development
Authority Act, 1999. Applications are invited from eligible candidates for the office
of whole-time Member(Finance and Investment)in the Authority.
The consolidated pay and allowances
of the whole-time Member (Finance and Investment)shall be Rs.4.00 lakh per
month, without the facility of house andcar. Detailed terms and conditions are
available on the websites of the Department of Financial Services (http://financialservices.gov.in/)
and the Authority(https://www.irdai.gov.in/).
Last date for receipt of
applications is 4th April 2021.
Vinod Kumar
Under Secretary to the
Government of India
Department of Financial
Services
Ministry of Finance
Room No. 10, Jeevan
Deep Building, 2nd floor
Sansad Marg, New Delhi –
110001
Applications invited for the office of whole-time
Member (Finance and Investment)
in the Insurance Regulatory and Development Authority of India
1.
Qualifications and experience:
(a) The
applicant must be a person of ability, integrity and standing who have
knowledge or experience in life insurance, general insurance, actuarial
science, finance, economics, law, accountancy, administration or any other
discipline which would in the opinion of the Central Government be useful to
the Authority.
(b) The
applicant should preferably have at least 25 years’ experience in the area of
finance and investment, with a minimum of three years’ experience at a senior
level, not below the rank of a Chief General Manager of the Reserve Bank of
India or equivalent thereto in other financial institutions or regulatory
bodies.
(c)
The applicant should be a citizen of India.
Elaborating further:
(i)
The applicant should preferably have at least
25 years of relevant work experience, leading to a senior executive or
management position in the organisation concerned.
(ii)
An applicant government servant should
preferably have worked at least at the level of Additional Secretary to the
Government of India or its equivalent level in State Governments.
(iii)
An applicant public sector official should
preferably have worked at a level which is at least one level immediately below
the Board level.
(iv)
An applicant from the regulatory sector should
preferably have worked at least as Executive Director in the regulatory body.
(v)
A private sector applicant should preferably
have worked at the level of functional head at a level which is at least one
level immediately below the Board level.
(vi)
An applicant who is an academician should
preferably have worked at least as professor in the department or faculty
concerned.
(vii)
An applicant who is a professional other than
that falling in any of the aforesaid categories should preferably have
experience and credentials in professional fields that are broadly the equivalent
to those referred to in clauses (a) and (b) above.
(viii)
The applicant should have a proven track record
of leadership and authority in decision-making.
2.
Age: The
applicant should have a minimum of two years of
residual service as on the last date for receipt of applications, i.e.,
the applicant’s age should not exceed 60 years on the said date.
3.
Salary and allowances:
Consolidated pay and allowances of the whole-time Member shall be Rs. 4,00,000
per month, without the facility of house and car. Other terms and
conditions of service of the Member shall be governed by the Insurance
Regulatory and Development Authority (Salary and Allowances payable to and
other Terms and Conditions of Service of Chairperson and other Members) Rules,
2000.
4.
Term of office: The term
of office of the Member shall be in accordance with the relevant provisions
under the Insurance Regulatory and Development Authority Act, 1999 and the
decision of the appointing authority in this regard, provided that no person
shall hold office as whole-time Member after attaining the age of sixty-two
years.
5.
Submission of application:
Applications duly filled in, together with the applicant’s curriculum vitae,
one passport-size photograph and the names and contact details of three
referees, should be sent in a closed cover, superscripted “Application for whole-time
Member (Finance and Investment), Insurance Regulatory and Development Authority
of India”, to:
Shri Vinod
Kumar
Under
Secretary to the Government of India
Department
of Financial Service
Ministry of
Finance
Room No. 10,
Jeevan Deep Building, 2nd floor
Sansad Marg,
New Delhi – 110001
Tel.: 011 23748788
6.
Last
date for receipt of applications: 4th April 2021.
Notes:
(i) Ministry of Finance, Department of
Financial Services will, in no case, be responsible for non-receipt of
applications or any delay in receipt thereof.
(ii) The appointment shall be made by the
Central Government on the recommendation of the Financial Sector Regulatory
Appointment Search Committee. The committee isalso free to identify and
recommend, based on merit, any person other than those who have applied for the
office. In respect of outstanding candidates, the committee may also recommend
relaxation in eligibility and qualifications and experience criteria.
(iii) The Government reserves the right to
cancel or withdraw the selection and appointment process at any stage due to
administrative exigencies, if any, without assigning any reasons therefor.
FORM
OF APPLICATION
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Post applied for _______________________________________
To
Shri Vinod
Kumar
Under
Secretary, Department of Financial Services
Ministry
of Finance, 2nd floor
Jeevan
Deep Building, Sansad Marg, New Delhi - 110 001
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Affix
your Passport size photograph duly signed across
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1.
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Name in Full (in
Block Letter)
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2.
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Father’s/Husband’s
name
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3.
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Date
of birth
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Day
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Month
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Year
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4.
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Age
as on last date of receipt of application
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Day
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Month
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Year
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5.
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Nationality
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6.
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a) Academic
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Qualification
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Board / University
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Year of Passing
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Subject
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Percentage
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b) Professional
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Qualification
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Board / University
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Year of Passing
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Subject
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Percentage
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7.
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Details of Experience
and brief service particulars
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Post (regular/ad-hoc)
/ Organization details
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Period
(From – To)
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Scales
of Pay and Basic Pay
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Nature of Duties
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Remarks / any other
information relevant for the post
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8.
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Name /address of
present employer / institution :
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Present post held :
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10.
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Date since present
post held :
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11.
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Complete Postal
Address, Telephone and E-mail particulars:
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Permanent Address:
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Present Postal
Address:
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Email
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Telephone
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Office
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Mobile
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12.
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Any other relevant
information in support of application :
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DECLARATION :
I
do here by declare that all statements made in this application are true,
complete and correct to the best of my knowledge and belief. I understand that
in the event of any particular or information furnished by me, found false /
incomplete or ineligible, my candidature will be rejected or cancelled and in
the event of any statement information found false even after appointment, my
services are liable to be terminated without any notice.
No.
of Encl.:__________
Sheets (Signature
of Candidate)
NAME:
__________________________