TL Alamelu, member(Non-Life), IRDAI will be retiring on May 6,2022 after completing her three-year tenure
New Delhi:
The government on Monday has asked for applications to appoint a new member (Non-life), in Hyderabad based IRDAI.
The current member(Non-Life),TL Alamelu, will be retiring after completing her three year tenure on May 6,2022.
The applicant should have a minimum of two years of residual service as on the date of vacancy i.e. 6.5.2022, which means the applicant’s age should not exceed 60 years on the said date, specified the ministry of finance notification.
IRDAI is headed by a chairman and has five posts of whole-time members. Currently post of chairman and another post of member (finance & investment) are vacant in the IRDAI.
Though the government had advertised the vacancy of the IRDAI chairman in April end, ,there has been no interview for the post which is vacant since SC Khuntia retired on May 6,2021 after completing his three-year tenure.
Though the designated Financial Sector Regulatory Appointment Search Committee (FSRASC) headed by the cabinet secretary had conducted the interview of a few candidates for the post of IRDAI member(F&A) six months back, no selected name has been announced yet by the government. Rather, there has been speculation that the ministry of finance will advertise the post again after rejecting all earlier applications..
The consolidated pay and allowances of the whole-time Member (Non-Life) is Rs.4.00 lakh per month, without the facility of house and car.
Some of the other eligibility criteria for an applicant are:
-he/she should preferably have at least 25 years of relevant work experience, leading to a senior executive or management position in the organisation concerned.
-the applicant should preferably have at least 25 years’ experience in the area of Insurance (including general and health insurance), with a minimum of three years’ experience at a senior level, not below the rank of a chief general manager of the Reserve Bank of India or equivalent thereto in other regulatory bodies or financial institutions/insurance companies.
-An applicant government servant should preferably have worked at least at the level of additional secretary to the Government of India or its equivalent level in state governments.
-an applicant from the regulatory sector should preferably have worked at least as executive director in the regulatory body,.
-An applicant public sector official should preferably have worked at a level which is at least one level immediately below the board level,
-a private sector applicant should preferably have worked at the level of functional head at a level which is at least one level immediately below the Board level