Senior Officer - Supervision (Insurance)
Description
Senior Officer
Supervision (Insurance) Department
The Bermuda Monetary Authority (Authority or BMA) seeks the services of a skilled and capable individual with a passion, professional pragmatism and commitment to climate change and sustainability work, practices and developments. The post is for a Senior Officer role to be a part of the Environment, Social and Governance (ESG) and Climate Risk Team in our Supervision (Insurance) Department to help shape the future of this area in Bermuda. Reporting to the Assistant Director, the Senior Officer will be responsible for contributing to developing and implementing the Authority’s plans to integrate sustainability and climate change risk in regulation and supervisory practices.
This is a key role for the Authority and the post-holder will be responsible for but not limited to:
• Acting as a first point of contact for the ESG and Climate Risk Team
• Providing technical expertise and gathering research as required on global practices relating to climate change and sustainability risk management and regulatory approaches surrounding these areas in the financial sector, with an ability to propose solutions fit for the Bermuda market
• Drive the drafting of policy recommendations, guidelines and reports for the insurance industry specific to climate change risk, sustainable finance and disclosures and ‘green’ regulation and integration of relevant risk in the regulation and supervisory framework
• Coordinating, assessing and designing industry surveys, exercises and consultations, overseeing industry engagement while making recommendations
• Conducting ESG supervisory reviews of filings and with registrants, and where necessary, giving feedback and guidance to ensure adherence with policies and procedures
• Leading internal knowledge-sharing initiatives
• Co-leading the Authority’s ESG working group, developing its comprehensive work plan and implementation
• Contributing to the development and implementation of the Authority’s plans to integrate sustainability in its own operations and assisting the Sustainability Steering Committee
• Providing support to Senior Leadership on the topic of sustainability and climate change and any other working group/workstream as required
The position requires a proven technical and business background. Therefore, the post-holder must have:
• A master’s degree or equivalent qualification in a relevant related discipline (e.g., finance, economics, sustainability/climate change, risk management or business administration) from a recognised institution or professional body
• Minimum of seven (7) years relevant experience, preferably within the insurance industry or in the financial services industry and/or working experience with a financial regulatory body
• Direct and in-depth knowledge of environmental issues, climate change risk and management, climate/green finance, responsible investment, disclosure regimes, international policy developments and regulatory frameworks and how they relate to material business risks and opportunities
• Robust influencing and engagement ability while also adept at building relationships and credibility
• Ability to provide expertise and work competently across a wide range of areas with technical staff, Senior Management and external stakeholders
• Strong written and oral communication and presentation skills
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 ‘Careers at BMA’ page at www.bma.bm. Applications for this position must be received no later than 17 May 2024.
Bermuda Monetary Authority is an Equal Opportunity Employer
Individual Excellence…Collective Strength