International and Regulatory Affairs Specialist

**Description**:
**International and Regulatory Affairs Specialist**
**Supervision (Insurance) Department**

The Bermuda Monetary Authority (Authority or BMA) is seeking the services of a skilled and capable individual to work as an International and Regulatory Affairs Specialist in our Supervision (Insurance) Department. Reporting to the Deputy Managing Director, the International and Regulatory Affairs Specialist will be responsible for providing insight and advice on BMA’s international affairs and regulatory matters, with a specific focus on insurance, to promote and enable the purposes of the BMA, its integrity, ambitions and responsibilities in its international and regulatory setting. The position contributes to the development and implementation of organisational strategies, policies and practices in regulatory and international matters.

The job holder will develop and manage relationships with other international regulators, represent the BMA in international affairs and support, develop and lead the BMA’s engagement with the International Association of Insurance Supervisors (IAIS), National Association of Insurance Commissioners (NAIC) and European Insurance and Occupational Pensions Authority (EIOPA), as appropriate.

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

- Proposing and developing the International Affairs Strategy for the Insurance Department and the annual work programme in collaboration with relevant internal stakeholders while acting as lead in the implementation of the strategy, where appropriate
- Contributing to the identification of issues concerning insurance related international affairs that require integration into the BMA’s strategic planning, along with identifying objectives and priorities. Providing insight and advice on strategic matters related to international and regulatory developments affecting the insurance sector. Assessing potential challenges and risks to the BMA and suggesting appropriate political or regulatory responses in cooperation with stakeholders
- Monitoring, analysing and advising on relevant international policy and regulatory developments for insurance. Providing appropriate and regular insurance regulatory affairs updates for the wider BMA, including regulatory developments across jurisdictions that might be relevant for Bermuda
- Collaborating on the articulation and development of the BMA’s position on international and regulatory matters, ensuring internal alignment, integrated views and clear, consistent messages on international regulatory matters. Coordinating and liaising with internal stakeholders to communicate legislative and policy requirements to external stakeholders
- Working collaboratively with Senior Managers on strategic matters, such as the Authority’s Board of Directors reporting and briefings, developing strategic initiatives and external messaging on key areas of strategic importance. Participating in Internal Committees and

Working Groups, as appropriate
- Providing advice, guidance and information to the Supervision (Insurance) Department on international and regulatory matters. Contributing or leading as appropriate to thought leadership insight on insurance and international regulatory issues
- Acting as the BMA point-of-contact for NAIC matters, supporting NAIC engagement and regulatory work and taking responsibility for organising bilateral meetings and overall policy regulatory analysis in relation to the Bermuda qualified and reciprocal jurisdiction status. Contributing, attending and reporting on NAIC events and representing the BMA as appropriate
- Liaising, developing and maintaining relationships with international regulators and other international stakeholders
- Supporting and advising the BMA’s engagement at IAIS and contributing to the coordination of internal stakeholders and governance process. Providing strategic, policy and analytical

support for the work required for the preparation of ExCo meetings and engagement with other committees. Representing the BMA at the IAIS working groups and task force as appropriate and other meetings/events
- Advising and supporting as appropriate the EIOPA monitoring assessment on Bermuda equivalence with Solvency II. Managing the relationships and communications with EIOPA and leading the follow-up on the EIOPA monitoring assessment. Leading/contributing to the preparation and development of documents and briefings. Engaging with internal stakeholders as appropriate
- Working closely with colleagues across the BMA to assess the impact of international developments and undertaking regulatory analysis. Assisting and leading as appropriate with cascading IAIS matters into regulation and standards. Collaborating with colleagues to develop the BMA’s internal and external positions vis-à-vis emerging regulatory issues
- Advising, managing and supporting, as appropriate, the Insurance Department’s in