Employment Opportunities

Insurance Supervision Officer

Job Description

PRIMARY DUTIES

Monitoring and evaluating insurers prudential compliance through off-site and onsite supervision oversight according to the requirements defined in the Insurance Law No.6/2005 of July 6, Regime for the Licensing, Supervision and Regulation of Insurance Companies and Insurance Intermediaries and its relevant Instructions, including others duties as following: Other duties include the following:

  • checking  compliance  by  insurance  company  and  intermediaries through periodic  reports  to  BCTL  and imposes sanctions in the events of non-compliance or violation of insurance Law;

  • conducting review and analysis of insurance financial reports to determine whether or not insurers under the soundness financial, and compliance with the requirement to satisfy the provision of insurance law;

  • undertakes regular or special examination assigned by the Deputy Governor with the objective of determining whether the insurance and intermediaries has been complying with all the pertinent instructions and that its affairs are being conducted in a safe and sound manner and not in injurious way that will compromise the interest of the policy holders and other investors;

  • assisting the licensing Division analysis business plan and inn confirming whether an insurance company and/or intermediaries applying for license has; put up the require initial capital; trained its personnel; acquire though purchase or lease of the initial insurance premises, furniture and equipment;

  • conducting follow up examination of insurance company and intermediaries to determine whether previous recommendations made or corrective measures being suggested by the supervisor or company management is being followed up;

  • comply with all policies, instructions and procedures established for conducting the duties of the position of insurance officer;

  • performing other tasks assigned by Governor and/or Deputy Governor.

Qualification:

The candidate should have a degree in accounting or finance or mathematic. Have a good spoken and written in Portuguese and/or English as well as excellent in Microsoft Word and Excel as a minimum condition. Some working experiences in financial institution and related is an advantage.

The candidate should have good interpersonal skills with strong moral character and has good analytical skills.

Report to:

Manager, Division of Insurance Supervision

Minimum Education:

Bachelor's Degree or Higher 

Minimum Experience:

Not a requirement.

Employment Type:

Permanent with 6 months probation

Career Type:

Officer

Salary rate:

Minimum $ 522/mo during the probationary period.

Start Date:

1 July 2020

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