The posts which have been advertised for recruitments are Chief Technology Officer (CTO),Chief Communications Consultant (CCC), Chief People Officer (CPO) and Chief Risk Officer (CRO)
The minimum gross emoluments for all these posts would be around Rs70 lakhs per annum
Hyderabad:
Insurance regulator IRDAI for the first time plans to hire a few senior professionals from the open market and is offering a minimum annual package of Rs 70 lakhs for each of these posts, which is much more than what chairman or members of the regulator are paid.
Consolidated pay and allowances of an IRDAI chairman is Rs 54 lakhs per annum without the facility of house and car while a member gets Rs 48 lakhs per annum.
The posts,which have been advertised for recruitments are- Chief Technology Officer (CTO),Chief Communications Consultant (CCC), Chief People Officer (CPO) and Chief Risk Officer (CRO).
The minimum gross emoluments for all these posts would be around Rs70 lakhs per annum. Higher compensation could be considered for suitable candidates based on qualification and experience, said the IRDAI.
The maximum age limit for all the above contractual positions is 55 years as on 1st January, 2023.
All these professionals will be appointed on contract basis for three years and may be considered for extension depending on requirement and evaluation of performance.
Earlier, the IRDAI had appointed first ever private sector IT professional Arindam Dutta to head Information Bureau of India(IIB) with an annual salary of Rs 1.5 crore.
Debasish Panda, chairman, IRDAI, who has unleashed a set of reforms for the industry, now wants best of the talents at Hyderabad based insurance regulatory body to drive those changes, said analysts.
Chief Technology Officer
-The CTO will be responsible for developing IT technology standards and protocols in line with Government requirements and industry best practices.
-The CTO also defines essential training required for the implementation, operation and maintenance of the initiatives implemented.
-The CTO serves as the bridge between the technologies and program areas in order to make disciplined and proactive IT investment decisions, said the IRDAI.
-The applicant should have:a minimum of 15 years experience in IT Sector and handling large IT solutions. Exceptional project management and organizational skills; and a working knowledge of Infrastructure Management, Software stack, applications, database and middleware.
-Preference would be given to those with background in BFSI and technology sectors.
Chief People Officer
The CPO will be responsible for manpower planning, recruitment and selection, talent management, organizational development, employee relations, and HR operations.
The CPO must have great interpersonal and leadership skills. He must also be well versed in data analysis and interpretation.
In addition, the CPO has to ensure the HR policies for supporting the IRDAI’s strategy and vision.
Chief Risk Officer
-The CRO will continuously scan the economic environment, both domestic and international and provide relevant inputs with focus on the domain of insurance.
-Bring focus on insurance policy research and identify and track relevant macroeconomic variables and interconnectedness with other financial market
participants and events that may impact insurers and insurance markets.
The financial sector is becoming increasingly globalized with the movement of capital, activities, expertise, technology, etc., across jurisdictions much more freely than ever. The insurance sector is also witnessing such increasing interconnectedness and complexity, said the IRDAI advertisement.
Chief Communications Consultant
The consultant will develop and implement strategic communications plans to support the organization’s mission and goals,
-Manage media relations and proactively secure media coverage for the organization,.
-Develop and maintain strong relationships with key stakeholders, including
internal and external partners.
The candidate need to have mandatory: Bachelor’s degree in communications, journalism, or related field. The applicant should have a minimum of 15 years relevant experience in a comparable role.