The Pensions and Insurance Authority (PIA) is the regulatory and supervisory authority for the pensions and Insurance Industry in Zambia as provided for in the Pensions Scheme Regulations Act No.28 of 1996 (as amended) and the Insurance Act No. 27 of 1997 (as amended). The Authority is empowered under section 5 of the Pensions Scheme Regulations Act No. 28 of 1996 (as amended) to formulate standards in the conduct of Insurance and Pensions business. The Authority supervises and regulates entities operating in the pensions and insurance market. These include, among others; insurance companies, reinsurance companies, insurance intermediaries, pension schemes, fund managers and fund administrators.
In line with its expansion strategy, the Authority hereby invites applications from suitably qualified and experienced candidates to fill the following positions:
Overall Responsibilities: –
Reporting to the Manager- Prudential Supervision – Pensions, the Inspector will be responsible for risk analysis, assessments and inspections of regulated pension schemes/funds and related entities in order to enhance compliance to the Pension Scheme Regulation Act and sound financial and business practices.
Specific Duties: –
- Compiles lists of overdue statutory returns for pension schemes and advises the Manager accordingly.
- Conduct off-site analysis and generate risk analysis reports to develop risk profiles of assigned pension schemes.
- Recommends to Manager – Prudential Supervision any pension schemes with high risk profiles for inclusion in the annual inspection plan.
- Prepares pre-inspection reports for regulated entities that are scheduled to be inspected.
- Conducts prudential routine and targeted inspections of assigned pension schemes which may include collecting data, inspecting financial records and other data/information of pension schemes to confirm the level of risks and their continued viability.
- Drafts inspection reports which highlights whether or not inspected entities are adhering to legal provisions, regulations and set standards and develops recommendations to the Manager-Prudential Supervision for action where necessary.
- Processes received applications for registration by ensuring that information and documentation are complete and that applicants meet the minimum registration requirement for the type of schemes as set by the PIA in accordance with the provisions of the Pension Scheme Regulation Act before forwarding them to Supervisor with recommendations.
- Reviews inspection procedures so that they can be kept up-to-date with industry best practices and developments to ensure uniform treatment of supervised entities.
- Full Grade 12 certificate with credit or better in Mathematics and English.
- Degree in either Accounting/Business Administration or Full professional accountancy qualification such as ACCA/CIMA/ZI CA or related field.
- Masters Degree will be an added advantage.
- 3 years’ relevant experience in audit or financial sector preferably 2 years in a related industry.
How to Apply
Interested candidates meeting the above qualifications should send their application letters, copies of certificates and Curriculum Vitae to the address below.
Human Resources and Administration Manager,
Pension and Insurance Authority,
Stand No. 4618,
Lubwa road, Rhodespark,
Only hardcopies submitted to the address above will be accepted.
Only shortlisted candidates will be contacted for interviews