Assistant Director Supervision / Assistant Director Market Intermediary Licensing & Supervision / Executive (Market Conduct Supervision)
About the Employer
Job Description
1. Assistant Director Supervision
Key Responsibilities
- Support the Division to carry out following functions:
- Effective and efficient supervisory system conducting onsite inspection & offsite monitoring of the Insurance Industry;
- Monitor the financial stability and operational performance of Insurance Companies;
- Disseminate information through analyzing data and recommending policy advice and publishing relevant data and information;
- Review & identify potential risks associated with the industry and recommend suitable solutions in line with current developments and international best practices;
- Macro prudential Supervision, migration to IFRS 17, development of supervisory framework in line with relevant Insurance Core Principles (ICP's);
- Train and guide subordinates on the assigned tasks.
Key Requirements
- A Bachelor’s Degree from a recognized university in Insurance/Finance/Accountancy/Business Administration/Actuarial or similar discipline OR a Professional qualification equivalent to a Bachelor’s Degree in the relevant fields from a recognized institution;
- 6 years post-qualifying managerial experience in a reputed organization.
2. Assistant Director Market Intermediary Licensing & Supervision
Key Responsibilities
- Support the Division to carry out following functions:
- Effective and efficient supervisory system conducting onsite inspection & offsite monitoring of market intermediaries;
- Monitor the financial stability and operational performance of market intermediaries;
- Review & identify potential risks associated with the market intermediaries and recommend suitable solutions in line with current developments and international best practices;
- Review licensing and other applications of market intermediaries;
- Train and guide subordinates on the assigned tasks.
Key Requirements
- A Bachelor’s Degree from a recognized university in Finance/Accountancy/Business Administration/Insurance/Law or similar discipline OR a Professional qualification equivalent to a Bachelor’s Degree in the relevant fields from a recognized institution;
- 6 years post-qualifying relevant experience in a reputed organization.
3. Executive (Market Conduct Supervision)
Note: Please note that this is not a marketing-related position.
Key Responsibilities
- Assist in implementing market conduct rules, regulations, directions, and guidelines;
- Assist in developing strategies, toolkits, and templates for market conduct supervision;
- Assist in monitoring, detecting, and reporting unlawful or inappropriate practices in pre-sale and post-sale processes, identified through offsite surveillance and on-site examinations;
- Conduct offsite market conduct risk assessment and prepare market conduct risk assessment reports;
- Assist in preparing the annual risk-based supervision plan and the compilation of required documentation for risk-based supervision examinations;
- Participate in risk-based on-site examinations to assess compliance with market conduct guidelines and procedures applicable to the insurance industry;
- Assist in developing supervisory practices to enhance market conduct supervision.
Key Requirements
- A Bachelor’s Degree from a recognized university in Insurance/Finance/Accountancy/Business Administration/Marketing/Commerce or similar discipline OR Professional qualification equivalent to a Bachelor’s Degree in the relevant fields from a recognized institution;
- Two (2) years post-qualifying relevant experience at junior executive/executive level in a reputed organization.
4. Executive (Supervision)
Key Responsibilities
- Evaluate insurers’ financial condition to determine their overall risk profile with emphasis on solvency and liquidity;
- Review financial statements, regulatory returns, and management reports;
- Assist in analysis of financial performance, risk management, and governance practices;
- Coordinate external and internal examinations and follow up on supervisory actions;
- Prepare and present reports to senior management and the Board on supervisory findings;
- Assist in implementing supervision plans including on-site and off-site supervision activities;
- Monitor and evaluate risk-based supervisory indicators and key performance metrics.
Key Requirements
- A Bachelor’s Degree from a recognized university in Insurance/Finance/Accountancy/Business Administration/Actuarial or similar discipline; AND
- Two (2) years post-qualifying relevant experience in a reputed organization.
5. Executive (Market Development and External Relations)
Key Responsibilities
- Coordinate and implement awareness & educational programmes, publicity campaigns and other activities to raise awareness on insurance and related matters among the public;
- Liaise with stakeholders to promote the insurance market and enhance external relations;
- Engage with media, organize events, and maintain a positive public image for the IRCSL;
- Prepare reports on market development initiatives and assist in policy advocacy and regulatory reforms.
Key Requirements
- A Bachelor’s Degree from a recognized university in Marketing/Finance/Accountancy/Business Administration/Insurance or similar discipline OR Professional qualification equivalent to a Bachelor’s Degree in the relevant fields from a recognized institution;
- Two (2) years post-qualifying relevant experience in a reputed organization.
6. Executive ( Administration )
Key Responsibilities
- Facilitate deployment and maintenance of modern HR tools covering recruitment, training and development, career management, performance management, rewards & benefits and employee engagement strategy;
- Facilitate internal & external training programs and oversee the annual performance appraisal process;
- Handle employee records, attendance, leave and updates of HR documents, including recruitment guides and employment contracts;
- Attend to matters of maintaining the vehicles and records;
- Attend to matters of administrative processes and office facilities management including vendor management and asset maintenance;
- Assist in office administration and record management; ensure proper maintenance of office equipment and facilities.
Key Requirements
- A Bachelor’s Degree from a recognized university in Business Administration/Public Administration/Finance/Accountancy/Commerce or similar discipline OR Professional qualification equivalent to a Bachelor’s Degree in the relevant fields from a recognized institution;
- Two (2) years post-qualifying relevant experience at junior executive/executive level in a reputed organization.
7. Driver cum Office Aide
Key Responsibilities
- Transportation & Vehicle Maintenance: Ensure safe transportation of IRCSL employees and guests or items to the destination in a safe and timely manner;
- Conduct daily vehicle inspections before and after trips to ensure safety and report any mechanical issues to the Logistics Manager;
- Maintain vehicle cleanliness and fuel availability to ensure vehicles are in optimal working condition at all times;
- Office Administration & Record Management: Assist in the record management system;
- Assist the Administration Division on office maintenance activities & to maintain cleanliness of the office;
- Other duties as assigned by the Administration Division from time to time.
Key Requirements
- Passed G.C.E. Ordinary Level examination in 6 subjects with 3 credit passes AND
- Two (2) years’ experience as a driver with a valid heavy vehicle driving license.
Remuneration and Other Benefits
- Gross Salary and other applicable allowances per month: Assistant Director - Rs. 225,000.00 + vehicle allowance Rs. 25,000.00 + communication allowance Rs. 2,000.00;
- Executive - Rs. 106,000.00;
- Driver cum Office Aide - Rs. 78,425.00;
- Other Benefits: Annual performance-based incentive, medical insurance, life and critical illness cover, and other standard government benefits as per policy.
Remittance/How to Apply
Applications should be made on or before 25th October 2026.
The Director General, Insurance Regulatory Commission of Sri Lanka, Level 11, East Tower, World Trade Centre, Colombo 01. Website: www.ircsL.gov.lk
