Hamilton Recruitment

SENIOR OFFICER ACTUARY – INSURANCE SUPERVISION – BERMUDA – ONLY 10% TAX – HR104

About this opportunity

Our client is seeking the services of a skilled and capable individual to work as a Senior Officer – Actuary in our Supervision (Insurance) Department. Reporting to an Assistant Director, the Senior Officer – Actuary will be responsible for oversight and supervision activities, including monitoring and critically assessing insurers’ performance with informed insight, analysing reporting submissions, and undertaking appropriate supervisory actions in accordance with legislation and/or strategic business goals.

This is a key role, and the post-holder will be responsible for:

  • Undertaking reviews of prudential and financial filings by regulated insurance entities to evaluate compliance with existing laws, regulations, policies, codes, plans and procedures and preparing reports for discussion and action
  • Assisting in performing technical reviews on reserves and models, processing applications and carrying out analysis on more complex commercial or technical areas
  • Developing plans and executing on-site reviews and prudential meetings with insurance entities
  • Monitoring insurance entities for compliance by review, analysis and timely, effective follow-up with company representatives
  • Communicating review findings by preparing final reports and discussing findings with management and insurers
  • Conducting thought leadership research on technical life (re) insurance and other actuarial topics and sharing these with management
  • Playing an active role in leading efforts to streamline and automate supervisory processes and enhancing the overall supervisory offering
  • Building scalable life (re)insurance actuarial capabilities to enable informed insight
  • Building and embedding horizon-scanning capabilities to assess alternative futures for supervised entities and the Bermuda life (re) insurance sector, thus enabling proactive and informed supervision
  • Providing training to the wider Department on life (re)insurance trends, drivers, and emerging themes
  • Providing advisory and senior-level technical actuarial support to operational teams
  • Performing other related work and special projects as assigned by management in accordance with competencies normally associated with the post

What you’ll need

  • A professional actuarial designation from a recognised institution or professional body such as FSA, FIA, FFA, FCIA or CERA
  • A minimum of seven (7) years relevant work experience, of which at least three (3) years should be at senior level working within a regulated financial services sector, preferably in life (re)insurance and/or within a financial oversight
  • Good rating agency, enterprise risk management and/or life insurance knowledge
  • Understanding of the key pillars of risk-based supervision, such as economic balance sheet, standard formula, internal capital model, Own Risk and Solvency Assessment (ORSA), stress tests, including Asset-Liability Management (ALM), cash flow and scenario tests
  • Familiarity with modelling tools such as Excel, R, Matlab, Python and other actuarial software
  • Experience conducting or participating in on-site reviews, credit rating reviews, forensic accounting reviews, investigations or inspections
  • Proficiency with insurance and investment accounting for reviewing and analysing financial statements
  • Compelling evidence of knowledge and expertise in evaluating corporate governance structures, corporate culture, risk management frameworks and/or internal controls
  • The ability to work in a fast-paced environment with a high degree of accuracy
  • Accountable for work and proactive with assigned tasks
  • A willingness to work outside normal business hours as required

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.