Assistant Director - P&C, Supervision (Actuarial Services )
Description
Assistant Director – P&C
Supervision (Actuarial Services) Department
The Bermuda Monetary Authority (BMA or Authority) is seeking a qualified and experienced individual to perform the duties and responsibilities of Assistant Director – P&C to join our Property and Casualty (P&C) Team within our Supervision (Actuarial Services) Department. Reporting to a Deputy Director – P&C, the postholder will be responsible for providing professional actuarial services in relation to the effective supervision of regulated insurers, focusing on underwriting, reserving and the assessment of risk and capital requirements.
This is a key role for the Authority and the postholder will be responsible for, but not limited to:
• Supporting the Actuarial Services Department in assessing capital requirements, including assessment and approval of internal capital model applications used for setting regulatory capital requirements
• Supporting the Department in the development and application of statistical and financial analytics
• 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 regulatory and supervisory framework, centred on the Economic Balance Sheet, capital requirements and supervisory framework of technical aspects, such as catastrophe risk and reserve assessments
• Assisting the Supervisory Teams with on-site inspections and desk-based analysis, focusing on establishing the appropriateness of insurer reserving practices, solvency self-assessments and compliance with applicable legislation, codes and guidance
• Supporting the Licensing and Authorisations Team in relation to insurer applications and authorisation requests
• Assisting the Department in leveraging and developing solutions to achieve efficiencies
• Representing the Authority 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
• 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 postholder must have:
• A master’s degree or equivalent qualification in actuarial science, mathematics, statistics, finance or a related quantitative field. FCAS, FIA, FCIA or a similar designation is preferred
• A minimum of ten (10) years of relevant experience, of which at least five (5) years should be at a senior level in the insurance industry, specialising in property, casualty and financial guarantee lines of business, preferably with extensive practical experience in using, building and/or validating internal capital models
• Broad experience across insurance and reinsurance actuarial disciplines, including reserving, capital modelling, pricing and risk management
• Experience working with a diverse range of stakeholders and managing competing priorities
The Bermuda Monetary Authority 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 via our ‘Careers at BMA’ page at www.bma.bm/vacancies. Applications for this position must be received no later than 26 June 2026.
Bermuda Monetary Authority is an Equal Opportunity Employer
BMA House | 43 Victoria Street, Hamilton HM 12 | [email protected] | (441) 295 5278
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