IRDAI invites Application for Young Professional Program, 2023
IRDAI offers an opportunity to young individuals to work on important initiatives within IRDAI and expose themselves to policy issues and analysis in the insurance sector. It best suits individuals who wish to contribute to development of insurance sector in India.
Under this program, the individuals will work in different departments of IRDAI and will provide inputs in the domain of Life/General/Health Insurance, Economics, Finance and Law amongst others. This is a selective program which requires individuals to demonstrate proven academic credentials, professional achievement and leadership qualities
Eligibility
In order to be considered for this program, the candidate must satisfy the eligibility criteria as prescribed below:
Age & Nationality:
i. The candidate must be an Indian Citizen of age not more than 30 years as on the last date of receipt of applications.
Domain-wise essential educational qualification and desirable criteria:
| Domain | No. of positions |
Educational Qualification | Desirable criteria |
| Young Professional (Finance & Investment) |
10 |
Post Graduate qualification (degree / 2-year diploma) with specialization in Finance from a recognized and reputed university/ institution, with minimum 55% aggregate marks or equivalent CGPA OR OR Successfully completed all 3 (three) levels of Chartered Financial Analyst (CFA) course from CFA Institute (USA) |
Preference to be given to candidates with work experience in financial sector after completion of Post- Graduation or CA/CS/CMA/CFA |
| Young Professional (Law) |
10 |
Bachelors’ Degree in Law from a recognized and reputed university/ institution, with minimum 55% aggregate marks or equivalent CGPA |
Preference to be given to candidates with work experience in the insurance sector after completion of the Bachelors’ Degree in Law/ LLM |
| Young Professional (Technology) |
10 |
Anyone of the following degrees from a recognized and reputed university/ institution with minimum 55% aggregate marks or equivalent CGPA: (i) B.E. / B. Tech in Electronics / Electronics and Communication / Information Technology / Computer Science/ Software Engineering; or (ii) MCA / MSc (IT) / MSc. (Computer Science) / MBA (Systems) / MBA (Analytics) / M. Tech (Computer Science/ IT/ Relevant Stream) / MS (Computer Science/ IT/ Relevant Stream) or equivalent degree |
Preference to be given to candidates with work experience in the field of software development (programming) or cyber security or well versed with Blockchain, Big data, Artificial Intelligence, Natural Language processing, Machine Learning, Predictive Analytics. For Software Development, desirable skill set includes: JAVA: Proficient in programming of JSP/J2EE with latest framework like Spring/ Hibernate; OR Angular: Proficient in programming of Angular; OR SAP-ABAP: Proficient in programming of SAP-ABAP/ Web Dynpro; OR Python: Proficient in programming of Python; OR BPM: Proficient in IBM BPM development; OR Database: Proficient in Database like DB2/ORACLE/PostgreSQL/ MySQL etc. For cyber security, desirable skill set includes: – Knowledge of global best practices in the areas of information & cyber security and security operations – Taking corrective measures / prudent response in case of cyberattacks. – Development, implementation and ensuring compliance with i. Data Security [Data Leakage Prevention (DLP)/ Database Activity Monitoring (DAM) etc.]; ii. Network Security [Firewall/ Intrusion Prevention System (IPS)/ Proxy/ Distributed Denial-of-Service (DDoS) etc.]; OR iii. System Security [Privileged |
1- A member of Institute of Chartered Accountants of India
2- A member of Institute of Company Secretaries of India
3- A member of Institute of Cost Accountants of India
C. All the candidates are expected to be adept in Information Technology (IT) tools and Information and Communication Technology (ICT) skills and possess good analytical, communication and interpersonal skills.
3. Duration of program
3.1. The duration of engagement of Young Professional (YP) shall be 1 (one) year, which may be further extended by the Competent Authority by 2 stretches of 1 (one) year each, depending on the performance of YPs and organizational requirements.
The total duration of engagement of a YP shall not exceed 3 (three) years.
3.2. The program will be offered at Head Office or any other office of IRDAI.
4. Application Process & Mode of Selection
4.1. The interested eligible candidates shall submit an online application through the link https://ypp.irdai.gov.in/ypp
4.2. Candidates may note that this is the only permitted mode to apply for IRDAI YPP and application submitted by any other means/mode will not be accepted.
4.3. The last date for submission of application is on or before 5:00 PM on 01.09.2023.
Remuneration
YPs shall be paid a monthly stipend of ₹75,000/- (all inclusive). Income tax or any other tax liable to be deducted as per the applicable rules will be deducted at source before effecting the payment. Selected outstation candidates will be reimbursed to and fro economy airfare by the shortest route from the place of their residence to place of undertaking the project. Apart from these, there will be no other remuneration or payment.
Working Hours and Leave
The working hours of YPs shall be same as office timings in IRDAI. YPs shall be allowed to observe the public holidays as practiced at the Head Office of the Authority. The YPs shall be entitled to 12 days of leave in a year. YPs engaged by IRDAI under this program shall not be considered, for any purpose, as officer or employee of IRDAI.
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