We are 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.
- Supporting the Actuarial Services Team in assessing and approving internal capital model applications for setting regulatory capital requirements
- 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
- Supporting the Department in the development and application of statistical and financial analytics
- Supporting the Licensing and Authorisations Team in relation to insurer applications and authorisation request
- 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 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, specializing 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
