Job Description

Senior Officer - Actuary

Supervision (Insurance) Department

The Bermuda Monetary Authority (Authority or BMA) 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

regulatory supervision activities, including monitoring and critically

assessing insurers' performance with informed insight, analysing

regulatory reporting and undertaking appropriate supervisory actions in

accordance with legislation and/or strategic business goals.

This is a key role for the Authority 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, direct 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 analytic capabilities to enable

informed insight and support regulatory and operational teams

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 advice and senior-level technical actuarial support to

regulatory or operational teams

Performing other related work and special projects as assigned by

management in accordance with competencies normally associated

with the post

This position requires a proven technical and business background.

Therefore, the post-holder must have:

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 a senior level working within a

regulated financial services sector, preferably in life (re)insurance

and/or at a financial services regulator

Good rating agency, enterprise risk management and/or life

insurance knowledge

In-depth understanding of the Bermuda regulatory framework

or other risk-based supervision regimes, such as Solvency II,

especially as they apply to long-term insurance products

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 solvency stress

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

The Bermuda Monetary Authority is the integrated regulator of the

financial services sector in Bermuda. 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 our Jobvite system.

Applications for this position must be received no later than

2 June 2025.