Finance Ministry seeks applications for post of whole-time member at IRDAI

Finance Ministry invites applications for IRDAI Whole-Time Member (Distribution). Must have 25+ yrs exp. & min. 3 yrs at senior level. Last date for applications: Oct. 30, 2023. Salary: Rs. 4 lakh/month. Age limit: 60 yrs. No person can hold office after 62 yrs. Led by Chairman Panda & 5 whole-time members.

The Finance Ministry has invited applications for the post of whole-time member (Distribution) at the Insurance Regulatory and Development Authority (IRDAI).

The applicant should preferably have at least 25 years of experience in the relevant area with a minimum of three years experience at a senior level, the Department of Financial Services said in an advertisement.

The applicant should not be below the rank of a Chief General Manager of the Reserve Bank of India or equivalent that place in other financial institutions or regulatory bodies, it said.

The department, under the Finance Ministry, said the applicant should have a minimum of two years of residual service as of the date of vacancy, that is March 4, 2024, and the applicant's age should not exceed 60 years on the said date.

The term of the office of the member will be in accordance with the Insurance Regulatory and Development Authority Act. No person will hold the office of the whole-time member after attaining the age of 62 years, it added.

Currently, the IRDAI Member (Distribution) is S. N. Rajeswari.

On salary and allowances, the member will be entitled to consolidated pay and allowances of Rs. 4 lakh per month without the facility of a house and a car.