The Bermuda Monetary Authority (Authority or BMA) is seeking the services of a skilled and capable individual to work as an Assistant Director in our Supervision (Insurance) Department. Reporting to the Deputy Director, the Assistant Director will lead a team of professionals responsible for designing and implementing the Authority's insurance supervision, risk framework and market analysis programme by generating and interpreting market data and recommending appropriate supervisory action.
This is a key role for the Authority and the post-holder will be responsible for but not limited to:
Managing a team responsible for ongoing risk-based supervision of a portfolio of Long-Term insurers and groups and providing leadership, development and nurturing the growth of direct reports
Providing insurance risk framework and risk model development, market analysis, risk training and support
Identifying and monitoring economic indicators and trends impacting the long-term insurance market at both the macro and micro level and assessing the impact of these indicators on licensed commercial life insurers and groups
Modelling complex transactions, including sensitivity analysis, stress testing and assessment of financial soundness indicators, whilst also managing a team of risk analysts to ensure accuracy and reconciliation of numbers and appropriate techniques
Performing on-site examinations and financial reviews of financial statements and returns, including risk exposure and probable maximum loss, risk management strategies, capital adequacy, governance and other relevant sources of information for both insurance legal entities and insurance groups
Ensuring appropriate monitoring is in place with the objective of communicating issues/trends/risks and recommending appropriate supervisory action
Performing due diligence and reviewing internal models, including peer comparisons and industry reviews, by analysing both past performance and forward-looking indicators to identify emerging risks
Providing advice on all relevant technical matters pertaining to insurance supervision, risk assessment, macroprudential drivers and risk model tool development
Representing the Authority at various local, regional and international meetings, conferences and seminars with other regulatory bodies, government agencies and the financial services industry, as required, to keep abreast of industry trends
This position requires the following skills, abilities and interests:
A master's degree in finance, accounting or insurance and/or equivalent qualification from a recognised institution or professional body (e.g., CPA, CA, CFA, ASA, CERA, FIA, etc.)
A minimum of ten (10) years experience, of which at least five (5) years should be in the life insurance industry acquiring knowledge related to solvency risks arising from life products and/or working experience with a regulatory body in an insurance-related capacity in life analytics or supervision
The ability to assimilate facts, analyse and prioritise information to ensure accuracy and conformity of procedures for risk assessments
A working knowledge of licensed Bermuda entities' operations
The ability to lead and provide training on policy development initiatives
The ability to interface with the financial services industry, government and various international regulatory bodies
Bermuda Monetary Authority (Authority or BMA) 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.
If you are looking for a challenging opportunity in a team environment, we invite you to submit your application online via www.bma.bm/vacancies. Applications for this position must be received no later than
19 November 2025.
Bermuda Monetary Authority is an Equal Opportunity Employer
BMA House | 43 Victoria Street, Hamilton HM 12 | [email protected] | (441) 295 5278