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Insurance Regulatory Authority (IRDA) is a statutory body formed under an Act of the Parliament.

The Authority proposes to fill up the following vacancies as Officers on Special Duty (OSD) through deputation of Officers from PSU Insurers/Financial Regulators/Central Government as detailed below.

The willing and 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 April 15, 2014.

The Senior Joint Director (Gen),
Insurance Regulatory and Development Authority,
3rd Floor, Parisram Bhavan,
Basheer Bagh, Hyderabad - 500004

Details of eligibility and other conditions to be fulfilled as at January 1, 2014

Eligibility conditions for Junior Officer - Technical:

1.    Officers holding analogous posts on regular basis in the parent cadre/Department working in Life/Non-Life Insurance/Reinsurance/Agricultural or Credit or other types of Insurance /Actuarial area with computer skills and experience may apply. Preference would be given to officers with experience in analysis.

2.    Minimum academic qualifications: Graduate and Associate of  Insurance Institute of India or equivalent OR pass in four subjects of Institute of Actuaries of India

3.    Level of Officers eligible (Current post and scale of pay):

a.    Financial Regulators: Officers equivalent to Grade A of RBI/SEBI or  in the pay scale equivalent to 17100-1000(11)-28100-EB-1000(4)-32100-1100(1)-33200

b.    PSU Insurers:

·         Scale – I Officers with minimum two years of service in the scale of pay 17240-840(14)-29000-910(4)-32640

·         Scale II Officers up to two years of service in the scale of pay Rs.23120-840(7)-29000-910(6)-34460

c.    Central Government: Officers with minimum two years of service in the pay band Rs.9300-Rs.34800

Eligibility conditions for Junior Officer - IT:

1.    Officers holding analogous posts on regular basis in the parent cadre/Department working in Information Technology area with software, hardware and/or networking skills and experience and domain knowledge of Insurance may apply. Preference would be given to officers with Project management experience in Insurance related field.

2.    Minimum academic qualifications: B. Tech (IT) or Computer Technology or BCA

3.    Level of Officers eligible (Current post and scale of pay):

a.    Financial Regulators: Officers equivalent to Grade A of RBI/SEBI or  in the pay scale equivalent to 17100-1000(11)-28100-EB-1000(4)-32100-1100(1)-33200

b.    PSU Insurers:

·         Scale – I Officers with minimum two years of service in the scale of pay 17240-840(14)-29000-910(4)-32640

·         Scale II Officers up to two years of service in the scale of pay Rs.23120-840(7)-29000-910(6)-34460

c.    Central Government: Officers with minimum two years of service in the pay band Rs.9300-Rs.34800

Eligibility conditions for Junior Officer - Stenography:

1.    Officers holding analogous posts on regular basis in the parent cadre/Department working as Stenographers, Personal/Executive Secretaries with computer skills and Secretarial experience may apply. Preference would be given to officers with experience in note preparation and records management.

2.    Minimum academic qualifications: Graduate and qualifications or experience in stenography

3.    Level of Officers eligible (Current post and scale of pay):

a.    Financial Regulators: Officers equivalent to Grade A of RBI/SEBI or  in the pay scale equivalent to 17100-1000(11)-28100-EB-1000(4)-32100-1100(1)-33200

b.    PSU Insurers:

·         Scale – I Officers with minimum two years of service in the scale of pay 17240-840(14)-29000-910(4)-32640

·         Scale II Officers up to two years of service in the scale of pay Rs.23120-840(7)-29000-910(6)-34460

c.      Central Government: Officers with two years of service in the pay band Rs.9300-Rs.34800

Eligibility conditions for Assistant Director – Technical:

 1.    Officers holding analogous posts on regular basis in the parent cadre/Department working in Life/Non-Life Insurance/Reinsurance/Agricultural or Credit or other types of Insurance/Actuarial area with computer skills and experience may apply.

2.    Minimum academic qualifications: Graduate and Fellow of Insurance Institute of India or equivalent OR pass in 5 subjects of Institute of Actuaries of India.

3.    Level of Officers eligible (Current post and scale of pay):

a.    Financial Regulators: Officers equivalent to Grade B of RBI/SEBI or  in the pay scale equivalent to 21000-1000(9)-30000-EB-1000(2)-32000-1100(4)-36400

b.    PSU Insurers:

·         Scale II Officers with minimum two years of service in the scale of pay Rs.23120-840(7)-29000-910(6)-34460

·         Scale III Officers up to four years of service in the scale of pay 28160-840(1)-29000-910(6)-34460-1200(4)-39260

c.    Central Government: Officers with minimum three years of service in the pay band Rs.15600 – Rs.39100

Eligibility conditions for Assistant Director – IT:

 1.    Officers holding analogous posts on regular basis in the parent cadre/Department working in Information Technology area with software, hardware and/or networking skills and experience and domain knowledge of Insurance may apply. Preference would be given to officers with Project management experience in Insurance related field.

2.    Minimum academic qualifications: B. Tech (IT) or Computer Technology or MCA or Masters in IT from a recognized university

3.    Level of Officers eligible (Current post and scale of pay):

a.    Financial Regulators: Officers equivalent to Grade B of RBI/SEBI or  in the pay scale equivalent to 21000-1000(9)-30000-EB-1000(2)-32000-1100(4)-36400

b.    PSU Insurers:

·         Scale II Officers with minimum two years of service in the scale of pay Rs.23120-840(7)-29000-910(6)-34460

·         Scale III Officers up to four years of service in the scale of pay 28160-840(1)-29000-910(6)-34460-1200(4)-39260

c.    Central Government: Officers with minimum three years of service in the pay band Rs.15600 – Rs.39100

Eligibility conditions for Assistant Director – R&D:

 1.    Officers holding analogous posts on regular basis in the parent cadre/Department working in Research/Statistics and Publication area with computer skills and experience may apply. Preference would be given to officers with experience in statistical analysis of trends and publication of research reports.

2.    Minimum academic qualifications: M Sc Statistics/M. Stat or equivalent

3.    Level of Officers eligible (Current post and scale of pay):

a.    Financial Regulators: Officers equivalent to Grade B of RBI/SEBI or  in the pay scale equivalent to 21000-1000(9)-30000-EB-1000(2)-32000-1100(4)-36400

b.    PSU Insurers:

·         Scale II Officers with minimum two years of service in the scale of pay Rs.23120-840(7)-29000-910(6)-34460

·         Scale III Officers up to four years of service in the scale of pay 28160-840(1)-29000-910(6)-34460-1200(4)-39260

c.    Central Government: Officers with minimum three years of service in the pay band Rs.15600 – Rs.39100

Eligibility conditions for Assistant Director - Legal:

1.    Officers holding analogous posts on regular basis in the parent cadre/Department working in Legal area may apply. Preference would be given to officers with experience in Corporate law/Insurance law/Financial services law.

2.    Minimum academic qualifications: LLB

3.    Level of Officers eligible (Current post and scale of pay):

a.    Financial Regulators: Officers equivalent to Grade B of RBI/SEBI or  in the pay scale equivalent to 21000-1000(9)-30000-EB-1000(2)-32000-1100(4)-36400

b.    PSU Insurers:

·         Scale II Officers above minimum two years of service in the scale of pay Rs.23120-840(7)-29000-910(6)-34460

·         Scale III Officers up to four years of service in the scale of pay 28160-840(1)-29000-910(6)-34460-1200(4)-39260

c.    Central Government: Officers with three years of service in the pay band Rs.15600 – Rs.39100

Eligibility conditions for Assistant Director – Stenography

1.    Officers holding analogous posts on regular basis in the parent cadre/Department working as Stenographers, Personal/Executive Secretaries with computer skills and Secretarial experience may apply. Preference would be given to officers with experience in note preparation and records management.

2.    Minimum academic qualifications: Graduate and qualifications or experience in stenography

3.    Level of Officers eligible (Current post and scale of pay):

a.    Financial Regulators: Officers equivalent to Grade B of RBI/SEBI or  in the pay scale equivalent to 21000-1000(9)-30000-EB-1000(2)-32000-1100(4)-36400

b.    PSU Insurers:

·         Scale II Officers with minimum two years of service in the scale of pay Rs.23120-840(7)-29000-910(6)-34460

·         Scale III Officers up to four years of service in the scale of pay 28160-840(1)-29000-910(6)-34460-1200(4)-39260

c.    Central Government: Officers with minimum three years of service in the pay band Rs.15600 – Rs.39100

Eligibility conditions for Sr. Assistant Director - Technical:

1.    Officers holding analogous posts on regular basis in the parent cadre/Department working in Life/Non-Life Insurance/Reinsurance/Agricultural or Credit or other types of Insurance/Actuarial area with computer skills and experience may apply.

2.    Minimum academic qualifications: Graduate and Fellow of Insurance Institute of India or equivalent OR pass in 7 subjects of Institute of Actuaries of India.

3.    Level of Officers eligible (Current post and scale of pay):

a.  Financial Regulators: Officers equivalent to Grade C of RBI/SEBI or  in the pay scale equivalent to 28350-1000(5)-33350-1150(4)-37950-EB-1150(3)-41400

b.  PSU Insurers:

·   Scale III Officers with minimum five years of experience in the scale of pay 28160-840(1)-29000-910(6)-34460-1200(4)-39260

·   Scale IV Officers up to five years of experience in the scale of pay 34460-1200(7)-42860

c.  Central Government: Officers with minimum three years of service in the pay band Rs.15600 – Rs.39100

Eligibility conditions for Deputy Director – Information Technology:

1.    Officers holding analogous posts on regular basis in the parent cadre/Department working in Information Technology area with software, hardware and/or networking skills and experience and domain knowledge of Insurance may apply. Preference would be given to officers with Project management experience in Insurance related field.

2.    Minimum academic qualifications: B. Tech (IT) or Computer Technology or MCA or Masters in IT from a recognized university.

3.    Level of Officers eligible (Current post and scale of pay):

a.    Financial Regulators: Officers in Grade D of RBI/SEBI or in the pay scale equivalent to 39850-1200(2)-42250-1300(3)-46150

b.    PSU Insurers: Scale V Officers with basic pay of Rs.45260 and above

c.    Central Government: Officers in the pay band Rs.37400 – Rs.67000

General conditions:

·         The Officer applying for any of the above posts should be holding an analogous post in PSU Insurers/Financial Regulators/Central Government.

·         Maximum age of the applicant should be not more than 56 years for all posts reckoned as on 01-01-2014.

·         The Officers occupying same group of posts with similar responsibilities and duties and identical scales of pay in the parent organization as specified in the eligibility conditions for each post are required to apply.

·         Pay fixation and other terms of deputation shall be governed by DoPT Rules including OM No. 6/8/2009-Estt. (Pay II) dated 17-06-2010 as amended from time to time.      

·         The period of deputation shall be for two years and extension of the deputation, if any, will be subject to the outcome of the Writ petition no. 18157 of 2013 before the Hon’ble High Court of A.P..

·         Desirable experience: Applicants should have worked in Insurance/Financial services area in the last three years.

·         Cooling off period: The applicants must fulfill a ‘cooling off’ period of three years from the date of return from previous deputation. Also the Officers currently serving the Authority on regular basis or on deputation or served the Authority on deputation during the last three years are not eligible apply.

·         Separate application needs to be submitted for each post by applicants who apply for more than one post.

·         The cadre controlling Authority is requested to forward the applications of the interested Officers whose services can be spared by duly filling up Part II of the application along with attested copies of ACRs/APARs of the Officer for the last three years, i.e. from 2010 - 11 to 2012 – 13.

·         The cadre controlling authority is requested to confirm requisite qualifications/experience for these posts mentioned by the applicant in the filled in application form.

·         The Authority reserves the right to relax the conditions in the interest of administrative exigencies for any class or category of persons applied for any of the aforesaid post.

·         The Authority reserves the right to vary the vacancies.

·         The shortlisted candidates will be called for a personal interface.

·         The applications received after the last date or incomplete or not through proper channel will not be considered.