Director Supervisor | Assistant Director Investigation | Assistant Director Administration
About the Employer
Job Description
The Insurance Regulatory Commission of Sri Lanka (IRCSL) invites suitably qualified, self-motivated team players to fill the following vacancies:
1. Director Supervision
Key Responsibilities
- Carry out on-site inspection and off-site monitoring activities of insurers and offer necessary guidance to the supervision team for conducting effective oversight on insurers internal controls, adherence to rules and regulations, and adoption of best practices.
- Facilitate to implement SLFRS 17 within the sector and review and supervise insurers under SLFRS 17
- Develop and periodically assess policies, procedures, rules and guidelines related to supervisory activities to ensure suitability for conducting prudent supervision
- Publication and submission of monthly, quarterly and annual review and statistical reports of the insurance industry to relevant stakeholders
- Recommend granting licenses to new applicants (insurers) based on their financial stability and capacity to meet policyholder obligations consistently
- Execute assigned duties related to projects aimed at enhancing the prudential supervisory framework of the insurance industry, collaborating with international experts on initiatives such as risk-based capital frameworks and risk-based supervision
- Conduct capacity building and training sessions for new recruits within the division and oversee the performance of supporting staff
- Performing assigned strategic plan activities of the division
Key Requirements
- A Bachelor’s degree from a recognized university in Insurance/Finance/Business Administration/Accountancy/Actuarial or similar discipline OR a professional qualification equivalent to a bachelor’s degree from a recognized institution
- Ten (10) years post qualifying managerial experience in a reputed organization
- A Master’s Degree and work experience in regulation and enforcement will be an added advantage
2. Assistant Director Investigation
Key Responsibilities
- Develop policies and other statutory requirements to ensure an efficient and effective complaints management system
- Provide required assistance and guidance in handling complaints with regard to claim disputes and complaints
- Contribute to the Strategic Plan of the Division
- Carry out investigations under Section 54 of the Regulation of Insurance Industry Act
- Monitor the preparation of Quarterly Reports, Annual Reports, Monthly Action Plan updates and any other report pertaining to the Division
- Assist in preparing papers for the Commission relating to the Division
- Conduct root-cause analysis for complaints and disputes in order to identify specific market conduct issues and make recommendations to address the same
- Perform assigned tasks in implementation of projects, policies and statutory requirements, etc
- Train and guide subordinates on the assigned tasks
Key Requirements
- An Attorney-at-Law or a Bachelor’s degree from a recognized university in Law or in any other related field
- Six (6) years post qualifying relevant managerial experience in a reputed organization
- Experience or qualifications in insurance and working experience in a regulatory authority will be a distinct advantage
3. Assistant Director Administration
Key Responsibilities
- Develop and propose HR and Administration budget
- Lead the development and execution of HR strategies, policies and procedures, practices and functions such as recruitment, performance management, training, time management, benefits, employee engagement, etc., in alignment with the organization’s mission and goals
- Review and renegotiate HR-related contracts and agreements
- Oversee all matters relating to facilities and administration, including building lease, front desk, supply resource management, records management, etc
- Clarify and guide the relevant staff on the entire procurement process and ensure all procurements are carried out in compliance with procurement procedures issued by the Government
- Assist the line manager on implementation of divisional action plan
- Ensure HR records and information are maintained
- Handle correspondence of the division
Key Requirements
- A Bachelor’s degree from a recognized university in Business Administration/Public Administration or related field OR a professional qualification equivalent to a bachelor’s degree in the relevant field from a recognized institution
- Six (6) years post qualifying relevant managerial experience in a reputed organization
- Experience or qualifications in insurance and working experience in a regulatory authority will be a distinct advantage
4. Executive (Market Conduct Supervision)
Key Responsibilities
- Assist in implementing market conduct rules, regulations, directions, and guidelines
- Assist in monitoring and reporting on market conduct practices and trends
- Assist in the examination and enforcement of market conduct procedures
- Prepare reports for senior management
- Train and guide subordinates on the assigned tasks
Key Requirements
- A Bachelor’s degree from a recognized university in Insurance/Finance/Accountancy/Business Administration or similar discipline OR a professional qualification equivalent to a bachelor’s degree in the relevant fields
- Two (2) years post qualifying relevant experience in a regulatory environment or related field
- A Postgraduate qualification in Insurance/Finance/Marketing/Secretarial Practices or relevant field would be an asset
5. Driver cum Office Aide
Key Responsibilities
- Transportation and Vehicle Maintenance: Ensure safe transportation of IRCSL employees and guests to destinations in a timely and secure manner; conduct daily vehicle inspections; report issues to Logistics Manager
- Office Administration and Records Management: Assist in maintaining the Office; prepare documents and records for audits; maintain filing systems
Key Requirements
- Passed G.C.E. Ordinary Level examination in 6 subjects with credit passes; six (6) years of driving experience in a reputed organization; valid driving license
Application deadline: Applications should be made on or before 08 June 2026. Visit the IRCSL website for details.
