Governmentof India

Ministry ofFinance

Departmentof Financial Services

Jeevan Deep Building, 2^nd floor

Sansad Marg, New Delhi -110 001

Applicationsinvited 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 DevelopmentAuthority of India is established by the Insurance Regulatory and DevelopmentAuthority Act, 1999. Applications are invited from eligible candidates for the officeof whole-time Member(Finance and Investment)in the Authority.

The consolidated pay and allowancesof the whole-time Member (Finance and Investment)shall be Rs.4.00 lakh permonth, without the facility of house andcar. Detailed terms and conditions areavailable 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 ofapplications is 4^th April 2021.

Vinod Kumar

Under Secretary to theGovernment of India

Department of FinancialServices

Ministry of Finance

Room No. 10, JeevanDeep Building, 2^nd floor

Sansad Marg, New Delhi –110001

Applications invited for the office of whole-timeMember (Finance and Investment)in the Insurance Regulatory and Development Authority of India

1.       Qualifications and experience:

(a)    Theapplicant must be a person of ability, integrity and standing who haveknowledge or experience in life insurance, general insurance, actuarialscience, finance, economics, law, accountancy, administration or any otherdiscipline which would in the opinion of the Central Government be useful tothe Authority.

(b)   Theapplicant should preferably have at least 25 years’ experience in the area offinance and investment, with a minimum of three years’ experience at a seniorlevel, not below the rank of a Chief General Manager of the Reserve Bank ofIndia or equivalent thereto in other financial institutions or regulatorybodies.

(c)   The applicant should be a citizen of India.

Elaborating further:

(i)             The applicant should preferably have at least25 years of relevant work experience, leading to a senior executive ormanagement position in the organisation concerned.

(ii)           An applicant government servant shouldpreferably have worked at least at the level of Additional Secretary to theGovernment of India or its equivalent level in State Governments.

(iii)         An applicant public sector official shouldpreferably have worked at a level which is at least one level immediately belowthe Board level.

(iv)         An applicant from the regulatory sector shouldpreferably have worked at least as Executive Director in the regulatory body.

(v)           A private sector applicant should preferablyhave worked at the level of functional head at a level which is at least onelevel immediately below the Board level.

(vi)         An applicant who is an academician shouldpreferably have worked at least as professor in the department or facultyconcerned.

(vii)       An applicant who is a professional other thanthat falling in any of the aforesaid categories should preferably haveexperience and credentials in professional fields that are broadly the equivalentto those referred to in clauses (a) and (b) above.

(viii)     The applicant should have a proven track recordof leadership and authority in decision-making.

2.                 Age: Theapplicant should have a minimum of two years ofresidual 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. 4,00,000per month, without the facility of house and car. Other terms andconditions of service of the Member shall be governed by the InsuranceRegulatory and Development Authority (Salary and Allowances payable to andother Terms and Conditions of Service of Chairperson and other Members) Rules,2000.

4.                 Term of office: The termof office of the Member shall be in accordance with the relevant provisionsunder the Insurance Regulatory and Development Authority Act, 1999 and thedecision of the appointing authority in this regard, provided that no personshall hold office as whole-time Member after attaining the age of sixty-twoyears.

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 threereferees, should be sent in a closed cover, superscripted “Application for whole-timeMember (Finance and Investment), Insurance Regulatory and Development Authorityof India”, to:

Shri VinodKumar

UnderSecretary to the Government of India

Departmentof Financial Service

Ministry ofFinance

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

Sansad Marg,New Delhi – 110001

Tel.: 011 23748788

6.                 Lastdate for receipt of applications: 4^th April 2021.

Notes:

(i) Ministry of Finance, Department ofFinancial Services will, in no case, be responsible for non-receipt ofapplications or any delay in receipt thereof.

(ii) The appointment shall be made by theCentral Government on the recommendation of the Financial Sector RegulatoryAppointment Search Committee. The committee isalso free to identify andrecommend, based on merit, any person other than those who have applied for theoffice. In respect of outstanding candidates, the committee may also recommendrelaxation in eligibility and qualifications and experience criteria.

(iii) The Government reserves the right tocancel or withdraw the selection and appointment process at any stage due toadministrative exigencies, if any, without assigning any reasons therefor.

FORMOF APPLICATION

DECLARATION :

Ido 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 thatin the event of any particular or information furnished by me, found false /incomplete or ineligible, my candidature will be rejected or cancelled and inthe event of any statement information found false even after appointment, myservices are liable to be terminated without any notice.

No.of Encl.:__________Sheets (Signatureof Candidate)

NAME:__________________________