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Notification
Ref. No: HR/Deputation/June/2015/Advertisement Date: 17-06-2015
Appointment of Officers on Deputation from eligible officers working in PSU Insurers/Financial Regulators/Government etc.,
INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA
3rd Floor, 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/Government etc.,
I.              Insurance Regulatory and Development Authority of India (IRDAI) is a statutory body formed under an Act of the Parliament (Act 41 of 1999).
 
II.            The Authority proposes to fill up the following vacancies in Deputy Director Cadre as “Officers on Special Duty (OSD)”, through deputation of Officers from PSU Insurers, Financial Regulators and Central Government including Government Organizations/Statutory bodies/Autonomous bodies, as detailed below.
 
 
Sl. No
 
Name of equivalent post
Number of vacancies
 
Pay scale & Grade pay
1
Deputy Director – Technical
5
Rs.39850–1200(2)–42250–1300(9) – 53950 (Grade pay:Rs.6750)
2
Deputy Director – F&A
2
3
Deputy Director - IT
1
4
Deputy Director - Legal
1
 
Total
9
 
(Note: Depending on the requirements of the Authority, the no. of vacancies may vary and interchangeable among the skill streams as may be suitable within the cadre).
 
The willing and eligible Officers may submit their applications in the prescribed format (annexed) through proper channel only, i.e., through their cadre controlling authority so as to reach the undersigned on or before 10/07/2015.
 
Sr. Joint Director (General)
Insurance Regulatory and Development Authority
3rd Floor, Parishram Bhavan, Hyderabad 500 004, Telangana
 
III.           Details of eligibility and other conditions to be fulfilled as at June 1, 2015
 
1.    Eligibility conditions for Deputy Director – Technical:
 
1.1. Officers holding analogous posts on regular basis in the parent cadre/Department working in Actuarial area/ Life Insurance/ Non-Life Insurance/Reinsurance/Credit Insurance/Agricultural Insurance with a minimum of Ten years experience and qualifications of Insurance/Actuarial science as detailed hereunder may apply.
1.2. Minimum academic qualifications:
1.2.1. Life Insurance: Graduate and Fellow of Insurance Institute of India OR
1.2.2. Non-Life Insurance: Graduate and Fellow of Insurance Institute of India OR
1.2.3. Actuarial.: Graduate and Associate of Institute of Actuaries of India
 
1.3. Level of Officers eligible (Grade and scale of pay):
 
Sl. No.
Organization
Grade
Scale of pay
1
PSU Insurers
1. Scale IV officers with four years of service
2. Scale V officers
Scale IV- Rs. 34460 -1200(7)-42860
 
Scale V – Rs. 41660-1200(3)-45260-1350(2)-47960
2
Financial Regulators (RBI/SEBI)
Officers in Grade D
Rs.39850-1200(2)-42250-1300(3)-46150
3
Government and other Government Organizations
Officers in the pay band mentioned in scales of pay
Rs.37400 – Rs.67000
 
2.    Eligibility conditions for Deputy Director – F & A:
 
2.1. Officers holding analogous posts on regular basis in the parent cadre/Department working in Audit/Inspection area with financial analysis skills with a minimum of Ten years experience in insurance and qualifications in Accounting etc as detailed hereunder may apply. Preference would be given to officers with Audit/Inspection/compliance experience in Insurance related field.
2.2. Minimum academic qualifications: ACA or AICWA or ACS.
2.3. Level of Officers eligible (Grade and scale of pay):
Sl. No.
Organization
Grade
Scale of pay
1
PSU Insurers
1. Scale IV officers with four years of service
2. Scale V officers
Scale IV-Rs. 34460 -1200(7)-42860
 
Scale V – Rs. 41660-1200(3)-45260-1350(2)-47960
2
Financial Regulators (RBI/SEBI)
Officers in Grade D
Rs.39850-1200(2)-42250-1300(3)-46150
3
Government and other Government Organizations
Officers in the pay band mentioned in scales of pay
Rs.37400 – Rs.67000
 
 
 
 
 
3.    Eligibility conditions for Deputy Director – Information Technology:
 
3.1. Officers holding analogous posts on regular basis in the parent cadre/Department working in Information Technology area with software, hardware and/or networking skills with a minimum of Ten years experience and qualifications in Information Technology or Computer applications as detailed hereunder may apply. Preference would be given to officers with Project management experience in Insurance related field.
3.2. Minimum academic qualifications: B. Tech (IT) or Computer Technology or MCA or Masters in IT from a recognized university.
3.3. Level of Officers eligible (Grade and scale of pay):
Sl. No.
Organization
Grade
Scale of pay
1
PSU Insurers
1. Scale IV officers with four years of service
2. Scale V officers
Scale IV-Rs. 34460 -1200(7)-42860
 
Scale V – Rs. 41660-1200(3)-45260-1350(2)-47960
2
Financial Regulators (RBI/SEBI)
Officers in Grade D
Rs.39850-1200(2)-42250-1300(3)-46150
3
Government and other Government Organizations
Officers in the pay band mentioned in scales of pay
Rs.37400 – Rs.67000
 
4.    Eligibility conditions for Deputy Director – Legal:
 
4.1. Officers holding analogous posts on regular basis in the parent cadre/Department working in Legal/ Compliance area with a minimum of Ten years experience and qualifications in Law as detailed hereunder may apply. Preference would be given to officers with litigation/compliance management experience in Insurance related field.
4.2. Minimum academic qualifications: Graduation and LLB from a recognized university.
4.3. Level of Officers eligible (Grade and scale of pay):
Sl. No.
Organization
Grade
Scale of pay
1
PSU Insurers
1. Scale IV officers with four years of service
2. Scale V officers
Scale IV-Rs. 34460 -1200(7)-42860
 
Scale V – Rs. 41660-1200(3)-45260-1350(2)-47960
2
Financial Regulators (RBI/SEBI)
Officers in Grade D
Rs.39850-1200(2)-42250-1300(3)-46150
3
Government and other Government Organizations
Officers in the pay band mentioned in scales of pay
Rs.37400 – Rs.67000
 
IV. General conditions:
·         The Officer applying for any of the above posts should be holding an analogous post in PSU Insurers viz., LIC, GIC, New India Assurance, Oriental Insurance, United India Insurance, National Insurance, AIC (Agriculture Insurance Company of India Ltd.), ECGC, Financial Regulators such as RBI/SEBI and/or Central Government including Government Organizations/Statutory bodies/Autonomous bodies as detailed in this Notification.
·         The applicant may apply for more than one stream by making separate applications.
·         The Officers occupying same group of posts with similar responsibilities and duties and identical scales of pay in the parent organization as specified in the eligibility conditions for each post are required to apply.
·         Pay fixation, benefits and other terms of deputation 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.   
·         Maximum age of the applicant should be not more than 56 years reckoned as on     01-06-2015.
·         The period of deputation shall be for 3 (three) years.
·         The applicant is liable to be repatriated to parent organization in case of earlier resignation or on completing three years of deputation. However, the applicant completing 59 years of age during the tenure of deputation will be repatriated on completing 59 years of age.
·         Cooling off period: The applicants must fulfill a ‘cooling off’ period of three years from the date of return from previous deputation either to IRDAI or any other Organization. Also the Officers currently serving the Authority on regular basis or on deputation or served the Authority on deputation during the last three years are not eligible to apply.
·         The cadre controlling Authority is requested to forward the applications of the interested Officers whose services can be spared by 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 2012-13 to 2014-15 or 2011-12 to 2013–14, if ACRs/APARs for the year 2014-15 have not been received and reviewed.
·         The cadre controlling authority is requested to confirm requisite qualifications/experience for these posts mentioned by the applicant in the filled in application form.
·         The applicant may send advance copy of the application. However, such advance applications will be considered only if the original application forwarded by the Employer through proper channel is received by IRDAI.
·         The applications received after the last date or incomplete or not through proper channel will not be considered.
·         The Authority reserves the right to relax the conditions in the interest of administrative exigencies for any class or category of persons applied for any of the aforesaid posts. The Authority reserves the right to vary the vacancies or cancel the exercise at any stage of the process without assigning any reason thereof.
·         The shortlisted candidates will be called for a personal interface.
·         The selected officers may be posted in any of the offices of IRDAI (Hyderabad, New Delhi, Mumbai or any other office of IRDAI that may be established in future) on selection and they are subject to be transferred from one office to another during the period of deputation.
·         IRDAI shall not entertain requests from the candidates seeking advice about their eligibility to apply.
·         Canvassing in any form will be a disqualification.
Insurance Regulatory and Development Authority of India. All Right Reserved.