F. No.  R-16011/01/2019-Ins.I

Government of India

Ministry of Finance

Department of Financial Services

***

2^nd Floor, Jeevan Deep Building,

Parliament Street, New Delhi-110001

Applications are invited for the post of Whole-Time Member (Distribution), Insurance Regulatory and Development Authority of India (IRDAI) which has a tenure of maximum period of 5 (five) years or up to 62 years of age, whichever is earlier.

The consolidated pay and allowances of the Whole-time Member shall be Rs.4.00 lakh per month without facility of house and car. The particulars of the post and eligibility conditions and details related to the application process are given on the Ministry’s website http://financialservices.gov.in/  and IRDAI’s website https://www.irdai.gov.in/. The last date/time for receiving the completed applications is 25.11.2019. Applications clearly demonstrating eligibility may be submitted to the address indicated below:

Shri Umesh Chandra

Under Secretary to the Government of India,

2^nd Floor, Jeevan Deep Building,

Parliament Street, New Delhi - 110001

F. No. R-16011/01/2019-Ins.I

Government of India

Ministry of Finance

Department of Financial Services

***

The Government of India proposes to fill the post of Whole-time Member (Distribution) in the Insurance Regulatory and Development Authority of India (IRDAI) located at Hyderabad. IRDAI is a statutory regulatory body established under the Insurance Regulatory and Development Authority Act, 1999.

2.       The eligibility conditions prescribed for the post of Whole-time Member in the Distribution area are as under:

(a)  Applicant must be person of ability, integrity and standing who is having a Post Graduate or a professional degree in the area of Management/Marketing/Consumer Affairs or related fields.

(b)  Age of the applicant should not be less than 50 years on the last date of submission of application.

(c)  Not less than 25 years of post qualification experience of which at least 15 years should be in the relevant field.

(d)  The applicant should have a minimum 2 years of residual service on 09.01.2020, i.e., age should not exceed 60 years on that day.

(e)  Should be a citizen of India.

3.       Elaborating further,

(a) Applicants should preferably have at least 25 years of work experience in the relevant area, leading to a senior executive or management position in the organization concerned.

(b) Government servants should preferably have worked at least at the level of Additional Secretary to the Government of India or its equivalent level in State Governments.

(c) Public Sector officials should preferably have worked at least at one level immediately below the Board level.

(d) Applicants from the Regulatory Sector should preferably have worked at least as Executive Director in the regulatory body.

(e) Private Sector applicants should preferably have worked at the level of functional head.

(f) Academicians should preferably have worked at least as Professor in the Department or the faculty concerned.

(g) Other professionals should preferably have experience and credentials in their respective professional fields which are broadly equivalent to what has been mentioned above.

(h) Applicant should have a proven track record of leadership and authority in decision making.

4.       Terms and Conditions: The tenure of appointment to the post shall be as per the Insurance Regulatory and Development Authority Act, 1999. The consolidated pay and allowances of the Whole-time Member shall be Rs.4.00 lakh per month without facility of house and car.  Other terms and conditions of Service of member (IRDA) 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.

5.       Government/Public/Regulatory Sector applicants must forward the applications through their Head of Department/proper channel. Advance applications may, however, be submitted directly in anticipation of the application through official channels. Applications must be accompanied with:

         i.    Attested copies of Annual Confidential Reports (ACRs) or Annual Performance Appraisal Reports (APARs) of the candidate for last 5 years.

        ii.    Integrity Certificate.

      iii.   Vigilance clearance including certification that no disciplinary proceedings or criminal proceedings are either pending or contemplated against the officer concerned.

       iv.    List of major/minor penalties, if any, imposed on the candidate and, otherwise, a certificate confirming that no penalty has been imposed on the officer during the last 10 years of his service.

6.       Non-Government / non-public sector / non-regulatory sector applicants may provide equivalent documents to the ones listed above, as applicable to their organizations. 

7.       The appointment shall be made by the Central Government on the recommendation of the Financial Sector Regulatory Appointment Search Committee (FSRASC).

 8.      Incomplete applications or applications received after the due date will not be considered.

9.       The selected candidate shall be required to resign / retire and be relieved from his / her current employment before joining IRDAI. Restrictions on re-employment as prescribed, after tenure as Whole-time Member, IRDAI, would apply.

10.     The selected candidate must join within 30 days from the date of offer of appointment.  This period could be extendable for a further period of 15 days on the request of a candidate subject to approval of competent authority.

11.     If the selected candidate does not join even after the notice or submits unwillingness he / she would be debarred for 3 years from consideration for appointment in all Autonomous / Statutory / Regulatory Bodies under Government of India.

12.     Application in the enclosed format clearly demonstrating eligibility against each requirement, along with brief bio-data and one passport size photograph, should be sent in closed cover superscribed with the words “Application for the post of Whole-time Member (Distribution), IRDAI” to reach the address given below by 25.11.2019.

       Shri Umesh Chandra

Under Secretary to the Government of India,

Room No. 10, 2^nd Floor, Jeevan Deep Building,

Parliament Street, New Delhi - 110001.

Application for the post of Whole-time Member (Distribution) in Insurance Regulatory and Development Authority of India

2.       (a) Date of Birth (Christian era):

(b) Age as on last date for submission 

     of Applications:

3.       Present post held / since when / description of duties /

name and address of employer:

4.       Service to which belong, if any:

5.       Present pay and scale of pay:

6.       Complete postal address

(Permanent) :

(Present / Mailing):

7.       Qualifications (including details of aggregate percentage/division,

subjects, institution, years of study, year of award of degree, etc.)                      

i.        Academic:

ii.       Professional:

8.           Details of experience and brief service particulars:

9.       Any other information in support of the application.

Signature of Applicant

Date:

Enclosures: Certified copies of documents in support of the above and a brief bio data.