Policyholders Compensation Fund Jobs 2021 for Compensation & Resolution Officer II available. See details below on how to apply for the position of Compensation & Resolution Officer II in Policyholders Compensation Fund.
The Policyholders Compensation Fund (PCF) is a State Corporation under the Ministry for Finance that was established through Legal Notice No.105 of 2004 and commenced its operations in January 2005. The Fund was established for the primary purpose of providing compensation to policyholders of an insurer that has been declared insolvent and for the secondary purpose of increasing the general public’s confidence in the insurance sector. The decision to establish the Fund was informed by the collapse of several Insurance companies prior to the year 2005
- Bachelor’s degree in Commerce, Finance, Insurance, Economics, Business Administration or its equivalent from a recognized and accredited institution; and
- Proficiency in computer applications.
- Receiving and reviewing claim documents for purposes of compensation to claimants of insurers under management and dividends to creditors of liquidated insurers;
- Maintaining an up-to-date inventory of assets of distressed insurers;
- Maintaining investment schedules and reports on surplus funds for insurers’ in statutory management and liquidation as per approved investment policy;
- Assisting in analyzing and recommending compensation, statutory management and liquidation cases for consideration by management; and
- Preparing statutory returns for the distressed insurers for filing with the Registrar of Companies
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