OICL AO (Administrative Officer) Accounts Scale 1 Recruitment 2024

OICL AO (Administrative Officer) Accounts Scale 1 Recruitment 2024

There are total four public sector general insurance companies (NICL, NIACL, UIICL and OICL). Oriental Insurance Company Limited (OICL) is one of the leading insurance company in India having complete ownership of the central Government in the company. It provides various types of insurance to individuals and businesses. The major types of insurances it provides include health insurance, motor insurance, property insurance, and travel insurance. No matter if one needs coverage of health, vehicle, home, or travel. OICL covers all of them. The total net worth of OICL is more than INR 30,000 crores. However, in the financial year 2022-2023, the revenue of the company was INR 15,992 crores. From here, you can assume the level of profit of this company.

OICL has released the OICL AO (Administrative Officer) notification 2024, on March 11, 2024 for streams including Accounts, Engineering, Legal and OICL has released its notification for the Administrative Officer on March 11, 2024, for streams including Accounts, Actuarial, Engineering, IT, Legal, and Medical Streams. This notification has opened gates for you to build your career in a prestigious organization. This will not only offer you a lucrative salary but also job security and lots of respect in society.

In this page you are going to get in depth details about the OICL AO notification 2024. Please note that in this page we are going to include details only about the OICL AO Accounts Stream. However, we have dedicated pages for the OICL AM Legal Stream, you can take a look there if you belong to legal stream. But if you are someone who is willing to build their career in accounts, then you are at the right place.

Now let’s quickly get into the highlights of the OICL AO Exam Accounts Stream 2024.

OICL AO (Accounts) Notification 2024

The OICL AO Notification 2024 was released on March 11, 2024, announcing 100 vacancies in total for the Administrative Officers. The application window to apply for this exam will be open from March 21 to April 12, 2024. This means you have ample time when you apply for this exam. Therefore, it is essential for you properly check the eligibility criteria and other research about this post before you apply for this exam. Apart from that, we recommend you not wait till the last date of the application to apply for this exam to avoid last minute rush, and sometimes, due to the heavy traffic on the website, it crashes. So, to avoid any such complication, you better be early or on time to apply for this exam.

Talking about the exam dates, the dates are not mentioned in the exam, however, the tentative time of the OICL Exam to happen is mentioned in the notification i.e., in the month of May/June 2024. We recommend you stay tuned to get the accurate information about the exam dates at first. At ixamBee, we give you exact information about the exam dates at the earliest.

OICL AO (Accounts) Vacancies 2024

There are 100 vacancies announced in the OICL AO notification 2024 for the Administrative Officers. Out of those 100, 20 vacancies are dedicated to the Accounts stream. However, overall 100 vacancies are classified among reserved and unreserved categories, including the Backlog vacancies. As we talked earlier, this page is dedicated to the Accounts stream of this exam. On that note, please look at the table below to know the details about the OICL AO Accounts vacancies 2024.

OICL AO Recruitment 2024 Vacancy: Stream Wise

OICL AO Recruitment 2024 Vacancy Category Wise

OICL AO (Accounts) Exam Calendar 2024

The application process for the OICL AO Exam is going to start from March 21, 2024 and will continue till April 12, 2024. You can fill up the application form and complete the application fee payment within this time frame only. We recommend you apply for this exam as soon as the application window goes live to avoid last minute hassle. If you are excited to know about Exam dates and reached till here to know about them, then we’re sorry to break this news for you that the accurate dates about the OICL AO exam are not mentioned in the notification. However, you can console your curiosity by knowing that the tentative time of the exam to be held is in the months of May or June 2024. But we promise we will update the accurate exam dates here at the earliest once they have been announced, till then, stay tuned. We at ixamBee never disappoint you, and this time, too, we are going to continue that ritual. Whenever, you come back here to know the exam dates, we will update those exam dates in the table below.

OICL AO (Accounts) Eligibility Criteria 2024

Done with application dates and Exam dates, now it's time for you to know whether you are eligible to apply for this exam or not. You have to fall under a particular set of category to fill this form. Mere knowledge of application and exam dates are not going to make you ideal candidate for this exam. There are a set of criteria which you have to fulfill that comprises Age and Education which you have to fulfill. Now let’s start with the Educational Qualification first and then Age criteria of OICL AO 2024.

OICL AO (Accounts) Education Criteria 2024

Please note that all education criteria mentioned here must be fulfilled by December 31, 2023. All the accounts people, the education qualification you should possess to become the eligible candidate of the OICL AO Accounts Stream is mentioned in the table below. Make sure you have fulfilled at least one of them, only then can will be able to go ahead with the application process.

Now let’s move to the Age Qualification needed for the OICL AO Accounts Exam2024.

OICL AO (Accounts) Age Criteria 2024

Again, the Age criteria is applicable only to those who have fulfilled it by December 31, 2023. Your age must be between 21 years to 31 years as on December 31, 2023. Start counting from your birth year till December 31, 2023, or go to the age calculator website to check whether you are falling under either of the categories. However, if you belong to any of the reserved categories, then there is good news for you, you can take benefit of the upper age limit relaxation given to you. Yes, check out the table below that has mentioned the category- wise upper age limit relaxation given to the candidates. Please note that these relaxations are also applicable in accordance with the December 31, 2023.

OICL AO (Accounts) Exam Pattern and Syllabus 2024

The OICL AO Exam Pattern comprises three phases:

• Prelims
• Mains
• Interview

However, the OICL AO Mains exam is divided into objective and descriptive sections. Now let’s dive in depth of the Exam Pattern and syllabus of the OICL AO (Accounts) Exam 2024. First, let’s start with the OICL AO (Accounts) Prelims Exam Pattern.

OICL AO (Accounts) Phase 1: Prelims Exam Pattern

The Exam Pattern of OICL AO Prelims is common for all streams. There is a total of three sections in the prelims exam and a total of 100 questions will be there. You will get a time duration of 1 hour to complete the exam. The time is divided into separate sets of 20 mins each for all the sections. So, you need to work smartly while attempting those answers. Because you are also going to face a negative marking of 0.25 marks for every wrong answer. No mark for the attempted one and one mark for the correct answer. Therefore, along with accuracy, confidence is also required to crack this exam. Please refer to the table below to understand the OICL AO Prelims Exam Pattern.

OICL AO (Accounts) Syllabus

Along with the Exam Pattern it is essential to know the syllabus of any exam. Please refer to the table below to know the section wise syllabus of the OICL AO (Accounts) Syllabus.

OICL AO (Accounts) Phase 2: Mains Exam Pattern

Like we have said earlier, the OICL AO Mains Exam possesses two sections objective and descriptive. In the objective section, there are 5 portions of 40 marks each and one of them is dedicated to the Accounts stream. In this exam, you will get a sectional timing to attempt each section. Please refer to the table below to have a clear and concise understanding of the OICL AO (Accounts) Mains Exam pattern.

Descriptive Test

However, once you are done with the objective section in the Mains Exam, you will have to attempt the descriptive section of 30 marks and 30 minutes will be given to you to attempt it. In that section, you have to write one letter and one essay of 10 and 20 marks respectively. This is not going to be pen paper test but completely online. You have to type your answer on the system through keyboard. For this, section you better have a good pace of typing speed. This section is qualifying in nature, the marks of this sections is not going to be included in the shortlisting the candidates for interview and final selection.

OICL AO (Accounts) Phase 3: Interview

The OICL Administrative Officer (Accounts) interview is a vital step after prelims and mains exams. It assesses candidates' accounting knowledge, financial acumen, communication skills, and problem-solving abilities. The interview carries substantial weightage in the final selection process, significantly impacting candidates' chances. While the exact weightage for the final selection comprises 80:40 of Examination and Interview. It's crucial for candidates to prepare thoroughly by revising accounting principles, staying updated on industry trends, and practicing common interview questions. A confident and well-prepared performance during the interview increases the likelihood of securing the AO (Accounts) position at OICL.

OICL AO (Accounts) Final Selection

The final selection for the OICL Administrative Officer (Accounts) position involves a thorough assessment of candidates' performance in the preliminary and mains exams, as well as the interview. After clearing the exams, the interview performance of the candidate is crucial. The interview evaluates their accounting knowledge, financial management skills, communication abilities, and problem-solving aptitude. The marks obtained in the interview carry significant weightage in determining the final selection. While the exact proportion is 80:40 of Examination and Interview. It plays a vital role in the decision-making process. Candidates should focus on preparing effectively for the interview by revising accounting concepts, staying updated on industry trends, and practicing interview questions. A strong performance in the interview enhances the chances of being selected for the AO (Accounts) position at OICL.

How to Apply for the OICL AO (Accounts) Application Form?

To apply for the OICL AO Recruitment 2024, follow these steps:

• Open your preferred web browser and type in the website address, newindia.co.in, in the address bar.
• Once on the homepage, carefully scan the page for the "OICL AO Recruitment 2024" link or similar. Click on this link to proceed to the recruitment page.
• If you haven't previously registered on the website, you'll need to create a user ID and password. Follow the instructions provided to set up your login credentials.
• After logging in, locate the orientalinsurance.org.in AO Application Form 2024. This form will contain fields for you to input various details required for your application.
• Carefully fill in all the requested details in the application form. Ensure that your personal information, educational background, and other relevant details are accurate and complete.
• Follow the provided guidelines to upload the necessary documents. These might include scanned copies of your photograph, signature, educational certificates, and any other documents required as per the application instructions.
• Proceed to make the application fee payment as directed. Ensure that you use the specified payment methods and follow any given instructions for successful payment.
• Review and Edit: Before final submission, review the filled OICL AO Application Form 2024 thoroughly. Check for any errors, omissions, or discrepancies. Make edits if necessary to ensure the accuracy of the information provided.

After you are confident that all details are accurate, proceed to submit the form. Before closing the application window, download the acknowledgment receipt or confirmation page as instructed. Save it on your device for your records. To keep a physical record of your application, print out the downloaded acknowledgment receipt. This receipt serves as evidence of your successful application submission.

By meticulously following these steps and ensuring accuracy throughout the process, you can complete your application for the OICL AO Recruitment 2024- with confidence.

OICL AO (Accounts) Application Fee

Below is the table detailing the OICL AO Application Fee 2024, which is to be paid through online mode:

OICL AO (Accounts) Salary 2024

The salary for an OICL Administrative Officer (Accounts) is competitive and attractive. OICL offers a good starting salary along with various allowances and benefits. The exact salary structure may vary based on factors such as location, experience, and other allowances provided by the company.

Typically, the basic pay for an OICL AO (Accounts) is supplemented with allowances such as Dearness Allowance (DA), House Rent Allowance (HRA), and Travel Allowance (TA). These allowances aim to support employees with their living expenses and transportation costs.

Additionally, OICL provides employees with benefits such as medical insurance, retirement plans, and other perks. These benefits contribute to the overall compensation package, making it more comprehensive and attractive for potential candidates. Overall, the salary of an OICL AO (Accounts) is designed to be competitive in the market, ensuring that employees are fairly compensated for their skills, expertise, and contributions to the company. Please refer to the table below to get an overview about the OICL AO (Accounts) Salary.

OICL AO (Accounts) Officer Job Profile

The role of an OICL AO (Accounts) involves a combination of financial management, accounting, risk assessment, customer service, and team management responsibilities.

• Financial Management: Responsible for managing financial operations, including budgeting, financial planning, and analysis.
• Accounting: Handling accounting tasks such as bookkeeping, preparing financial statements, and ensuring compliance with accounting standards.
• Risk Assessment: Evaluating financial risks and implementing strategies to mitigate them effectively.
• Audit and Compliance: Conducting audits, both internal and external, to ensure adherence to regulatory requirements and company policies.
• Policy Underwriting: Assessing insurance policies, determining premiums, and evaluating risks associated with accounts.
• Customer Service: Providing assistance to customers regarding financial queries, insurance policies, and claims processing.
• Documentation: Maintaining accurate records and documentation related to financial transactions, insurance policies, and customer interactions.
• Reporting: Generating financial reports, analyzing data, and presenting findings to senior management for strategic decision-making.

OICL AO (Accounts) Probation Period

The probation period for OICL Administrative Officer (Accounts) is a time frame during which the newly appointed officer undergoes a period of training and evaluation to demonstrate their suitability for the role. Typically lasting for a specified duration, such as six months to one year, the probation period allows the officer to familiarize themselves with the company's policies, procedures, and systems. During this time, they receive guidance and feedback from supervisors to enhance their skills and performance. Successful completion of the probation period is necessary for confirmation of employment, ensuring that the officer meets the expectations of the organization before assuming full responsibilities.

OICL AO (Accounts) Guarantee Bond

The guarantee bond for OICL Administrative Officer (Accounts) is a contractual agreement of minimum four years (includes probation) that ensures the performance and integrity of the appointed officer during their tenure with the company. This bond serves as a commitment from the officer to fulfill their duties diligently, adhere to company policies, and maintain confidentiality regarding sensitive information. In case if a person resigns within the period of Guarantee bond, he/she is liable to pay liquidator damages that is equivalent to their one year’s gross salary.

OICL AO (Accounts) Online Course

After reading all the details about the exam, now you must be inspired to apply for the same. However, there is still some time left in the application to get started, it is essential if you start preparing for it by all your mind and heart. At ixamBee, we give you a complete guidance for this exam and thus, we have launched an OICL AO (Accounts) Online course. This course is meticulously designed to cover every aspect of this exam, from prelims to interview, you are to get all of it here. Enrol today.