Hamilton Recruitment

SENIOR FINANCIAL REPORTING ACTUARY – ANNUITIES – BERMUDA – 10% TAX – HR115

About this opportunity

Our client is a Bermuda-based specialist life reinsurer. The role of Senior Reporting Actuary supports the company’s finance strategy, focusing on actuarial reporting and business planning, with a focus on annuity and longevity reinsurance business for the company and reporting the company entity profits and solvency in a timely and accurate manner. This role requires an actuary with reporting or business planning experience and the ability to review and challenge results, methodology and controls. This role also provides actuarial project support for onboarding new business, group-led projects, internal model change projects, investment projects and other balance sheet management projects.

Key responsibilities:

  • Lead a small team to perform and review actuarial numbers for the company. Actuarial bases will include IFRS, Solvency II, EBS and Liquidity and will require review and validation of actuarial calculations and supporting new methodologies in response to regulatory changes
  • Work with Group Divisions to develop the business plan financial projection capabilities for the company and deliver production of the company business plan results and credit rating packs, in line with the Group projection assumptions, on an annual basis
  • Work with Group Divisions to develop and maintain the actuarial capabilities and solutions needed to support the company’s international development and growth ambitions
  • Assist with the onboarding of internal and external new business, including reconciling financial metrics against those produced by the company pricing team
  • Support projects to identify areas to optimize the company’s balance sheet on regulatory, solvency and accounting bases
  • Prepare reports and analyses for review by the Head of Actuarial Reporting and the Chief Actuary, as well as assist in reviewing financial reporting output at both half-year and year-end
  • Implement reporting assumption changes, including governance
  • Understand the impact of business strategies that may include longevity, protection/mortality, and non-life reinsurance business for both external business (global reinsurance) and internal retrocession (group reinsurance)
  • Deliver effective written and verbal communication, including report writing and presenting, to all relevant parties to support effective decision making and manage the smooth and integrated delivery of business objectives
  • Develop and coach others on the team and that you work with, to achieve and maintain optimal employee engagement
  • Develop and maintain highly collaborative and effective relationships at all levels within the organization, as well as externally
  • Actively promote the company’s culture of ownership across the organization and be a role model for the company’s behaviours of Straightforward, Collaborative and Purposeful
  • Carry out duties with integrity and diligence, ensure that appropriate professional standards are maintained, that the reporting deadlines are met, that records are maintained appropriately and that the actuarial processes are fit for purpose and meet internal and regulatory requirements

What you’ll need

  • Fully qualified Life Actuary
  • 5+ years of relevant actuarial experience in the life insurance sector
  • Significant experience and understanding of individual and bulk purchase annuity business and longevity swaps are required, with experience in the UK and/or Canadian market strongly preferred
  • Significant experience and demonstrated deep technical understanding of IFRS and Solvency II balance sheet frameworks. Experience with the Bermuda Economic Balance Sheet (“EBS”) framework is an asset
  • Previous experience performing, analysing and synthesizing technical actuarial calculations and results and communicating them to others effectively
  • Demonstrated understanding of compliance standards for actuarial reporting, with the proven ability to identify key issues and design and implement efficient, robust and effective actuarial processes and controls
  • A proven track record of excellent relationship management at all levels throughout an organisation, as well as internal stakeholder management in a global organization
  • Demonstrated ability to act independently, as well as part of a team, and apply sound judgement and pragmatism in order to achieve business aims
  • Ability to take a balanced view on a range of actuarial and commercial matters, taking on board the views of others and weighing potential risks, combined with the personal confidence to back own judgment
  • A deep commercial awareness and a good understanding of the wider business, as well as the economic, market and regulatory environment in which the company operates
  • Must be very organised, highly efficient and enjoy working in a fast-paced dynamic environment, with the ability to work overtime to meet deadlines

How to apply

  • To apply, attach your résumé or include a link to your LinkedIn profile
  • If you don't provide one of the above, we can't progress your application

For reasons of confidentiality and to ensure best match for positions, our normal practice is to submit applications to employers only after we have had a Career Consultation with candidates. In the event that you are not shortlisted for this particular vacancy, your details will be held on file and considered for other relevant opportunities.

Our clients are equal opportunity employers and value diversity. They do not discriminate on the basis of race, religion, colour, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status. If you believe you deserve an exceptional career, we’ll help make it happen.