Executive (Actuarial) – Insurance Regulatory Commission

Executive (Actuarial) – Insurance Regulatory Commission

Job Overview

The Insurance Regulatory Commission of Sri Lanka (IRCSL) is inviting applications from qualified and motivated professionals for the position of Executive (Actuarial). This role offers an excellent opportunity to contribute to the regulation and development of Sri Lanka’s insurance industry by supporting actuarial reviews, product assessments, inspections, and regulatory compliance activities.

Job Category: Insurance, Actuarial Science, Finance, Regulatory Affairs

Position Details

Job Title: Executive (Actuarial)

Company: Insurance Regulatory Commission of Sri Lanka (IRCSL)

Location: Colombo, Sri Lanka

Job Type: Full-Time

Company Overview

The Insurance Regulatory Commission of Sri Lanka (IRCSL) is the statutory regulator of the insurance industry in Sri Lanka. The Commission oversees insurance companies to ensure compliance with regulatory requirements, financial stability, and protection of policyholders while supporting the sustainable growth of the insurance sector.

Qualifications & Experience

Educational Qualifications

Applicants must possess:

• A Bachelor’s Degree from a recognized university in:
  • Actuarial Science
  • Insurance
  • Mathematics
  • Statistics
  • Accountancy
  • Finance
  • Business Administration
  • Commerce
  • Management

OR

• A professional qualification equivalent to a Bachelor’s Degree in a relevant field from a recognized institution.

Experience

• Minimum 2 years of post-qualifying relevant experience at Junior Executive or Executive level in a reputed organization.

Key Responsibilities

• Review statutory returns submitted by insurance companies on a quarterly and annual basis.
• Monitor compliance with applicable insurance regulations and communicate deficiencies when identified.
• Participate in onsite inspections and provide actuarial support during regulatory examinations.
• Contribute to the strategic planning and operational activities of the Actuarial Unit.
• Assist in preparing quarterly reports, annual reports, monthly updates, and other regulatory reports.
• Review actuarial certificates relating to new insurance products and revisions to long-term insurance products.
• Support the preparation of reports, policy papers, and regulatory documents.
• Assist in projects and initiatives undertaken by the Commission.

Required Skills

• Strong analytical and numerical skills.
• Sound understanding of actuarial principles and insurance operations.
• Ability to interpret and evaluate financial and statistical information.
• Excellent report writing and documentation skills.
• Strong attention to detail and regulatory compliance awareness.
• Effective communication and interpersonal skills.
• Proficiency in Microsoft Office applications and data analysis tools.
• Ability to work independently and collaboratively within a professional environment.

General Requirements

• Applicants should be below 40 years of age at the closing date of applications.
• Government sector applicants are exempt from the age restriction.
• Qualifications or experience in insurance, actuarial science, research, or regulatory environments will be an added advantage.
• Excellent communication skills and high computer literacy are essential.

Salary & Benefits

Gross Salary and Allowances (Per Month)

• Basic Salary: Rs. 156,050.00

Additional Benefits

• Annual performance-based incentive
• Leave encashment
• Outdoor medical reimbursement
• Comprehensive indoor medical insurance
• Life and critical illness insurance
• Personal accident insurance cover equivalent to 60 months of basic salary
• Vehicle and distress loan facilities
• Sponsorship for higher studies
• Reimbursement of subscription fees for one professional institution

How to Apply

• Complete the prescribed application form available through the IRCSL recruitment process.
• Applications should include all qualifications and experience relevant to the position.
• Only applications submitted through the prescribed method will be accepted.
• Hard copy and email applications will not be considered.

Application Deadline

30 June 2026

Company Overview

The Insurance Regulatory Commission of Sri Lanka offers a dynamic and professional working environment where employees contribute directly to strengthening the country’s insurance sector. This position is ideal for candidates seeking to build a rewarding career in actuarial and regulatory affairs while enjoying attractive remuneration and career development opportunities.

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