INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA

3^rdfloor, Parishram Bhavan, Basheer Bagh, Hyderabad - 500 004

(Tel .Nos. 040 – 23381100, 040 - 66823334)

Appointment of Officers on Deputation from eligible officers working in PSU Insurers/Financial Regulators/Central Government

Ref: HR/Deputation/April/2017                                                           Date: 03-04-2017

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

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

The 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 5 pm on 17-04-2017.

Executive Director (Gen)

Insurance Regulatory and Development Authority of India

3^rd floor, Parishram Bhavan, Basheerbagh Hyderabad - 500 004,Telangana

III.           Details of eligibility and other conditions to be fulfilled as on 17^th April, 2017

A. Eligibility conditions for the post of Deputy General Manager – Legal:

1.    Officers holding posts on regular basis in the parent cadre/Department working in Compliance/Legal area with experience as mentioned below and strong domain knowledge of insurance may apply. Preference would be given to officers directly handling legal matters pertaining to HR or Service matters.

2.    Minimum academic qualifications: Graduation with 60% marks and LL.M with 60% marks from a recognized university.

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

a. Financial Regulators: Officers in Grade D or in the pay scale equivalent to 68500 - 2150 (2) - 72800 – 2250 (6) - 86300  with associated Grade pay.

b.    PSU Insurers:

i.  Scale V officers

ii. Scale IV officers with minimum 5 years’ service in the scale

c.    Central Government:

Officers in the Pay Level 13 (pre-revised pay band IV Rs.37400 – Rs.67000) with five years’ service in the above scale of pay.

4.    Experience: 15 years as an Officer with minimum 5 years in related field of work.

B. Eligibility conditions for the post of Deputy General Manager – Finance & Investment:

1.    Officers holding posts on regular basis in the parent cadre/Department working in Investment/Treasury Department, Audit/Inspection area with Financial analysis skills with experience as mentioned below and strong domain knowledge of insurance may apply. Preference would be given to officers with Investment experience in insurance related field.

2.    Minimum academic qualifications: Graduate with 60% marks and FCA/FICWA/FCS/CFA.

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

a.    Financial Regulators: Officers in Grade D or in the pay scale equivalent to 68500 - 2150 (2) -72800 – 2250 (6) -86300 (9 years) with associated Grade pay.

b.    PSU Insurers:

                                          i.    Scale V officers

                                        ii.     Scale IV officers with minimum 5 years’ service in the scale

c.    Central Government:

Officers in the Pay Level 13 (pre-revised pay band IV Rs.37400 – Rs.67000) with five years’ service in the above scale of pay.

4.    Experience: 15 years as an Officer with minimum 5 years in related field of work.

IV.  General conditions:

·         The Officer applying for any of the above posts should be holding an equivalent post given above with similar responsibilities and duties in PSU Insurance Companies, Financial Regulators and Central Government including Government Departments, Statutory/Autonomous bodies.

·         The eligible applicant may apply for more than one Department by making separate applications.

·         Maximum age of the applicant should be not more than 56 years for all posts reckoned as on 17.04.2017.

·         Pay fixation and other terms of deputation to the extent not specified in the notification 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 not exceed 3 (three) years.

·         Officers, who apply against the posts notified, shall be considered for that post and scale of pay only.

·         The officer on deputation shall be governed by the IRDAI Staff (Officers and Other Employees) Regulations, 2016 as amended from time to time and terms and conditions as laid down by IRDAI.

·         In case, an officer receives promotion/proforma promotion in the parent organization while being on deputation to IRDAI, he/she will be governed by the IRDAI Staff (Officers and Other Employees) Regulations, 2016 as amended from time to time and terms and conditions of appointment and if the same is not acceptable to the officer on deputation, he/she may seek repatriation to his parent organization immediately.

·         The officers who served IRDAI on deputation for one term will not be considered for second term.

·         The permanent Officers of IRDAI and Officers presently on deputation cannot apply for higher ex-cadre post at IRDAI.

·         The Officer on deputation shall not be considered for any foreign deputation or deputation to any organization within India.

·         The cadre controlling Authority has to forward the applications of the interested Officers whose services can be spared by the cadre controlling Authority 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 2013-14 to 2015-16.

·         The cadre controlling authority is required 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 any conditions as per administrative exigencies for any cadre or category of persons applying for any of the aforesaid post/s.

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

·         Applications which are incomplete or not received through proper channel will not be considered.