Assistant Director

1 week ago


Hamilton, South Lanarkshire, United Kingdom Bermuda Monetary Authority Full time

Description:

Assistant Director - P&C

Supervision (Actuarial Services) Department
The Bermuda Monetary Authority (Authority or BMA) is seeking a qualified and experienced individual to perform the duties and responsibilities of Assistant Director - P&C to join our Property &
Casualty Team in our Supervision (Actuarial Services) Department. Reporting to the Deputy Director - P&C, the post-holder will be responsible for providing professional actuarial services in relation to
the effective supervision of regulated insurers, focusing on underwriting, reserving, risk aggregating processes and the assessment of capital requirements.

This is a key role for the Authority and the post-holder will be responsible for but not limited to:

  • Assisting the Supervisory Teams with onsite inspections and desk-based analysis, particularly as it relates to establishing the appropriateness of insurer reserving practices, solvency self assessments and compliance with applicable legislation, codes and guidance
  • Developing industry benchmarks for methodologies and assumptions used to research and develop best practices for regulatory analytics
  • Assisting with the ongoing development of the Bermuda supervisory regime, particularly in relation to the Economic Balance Sheet and capital requirements
  • Representing the Authority at various local/international meetings, conferences, seminars involving information exchanges and meetings with regulatory bodies, government agencies, the International Association of Insurance Supervisors and the financial services industry to help influence the development of international insurance supervisory regimes and to maintain and develop key relationships whilst keeping abreast of industry trends

This position requires a proven technical and business background.

Therefore, the post-holder must have:


  • A master's degree or equivalent qualification in actuarial science, mathematics, statistics, finance or a related quantitative field
  • A professional designation such as FCAS, ACAS, FIA, FCIA or a similar designation is preferred
  • A minimum of ten (10) years relevant experience, of which at least five (5) years should be at a senior level in the insurance industry, specialising in property, casualty and financial guarantee lines of business, preferably with extensive practical experience in using, building and/or validating internal capital models
  • Strong experience in insurance and reinsurance actuarial issues, including reserving, capital modelling, pricing and risk management, is preferred
The Bermuda Monetary Authority is the integrated regulator of Bermuda's financial services sector. We offer the opportunity for broad exposure to international regulatory issues, special projects and a

variety of work experiences.

BMA House | 43 Victoria Street | Hamilton HM 12 | Bermuda | Tel:

Bermuda Monetary Authority is an Equal Opportunity Employer.

Individual Excellence Collective Strength
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