The Bermuda Monetary Authority Careers

Description

Deputy Director – Close Monitoring
Supervision (Insurance, Funds and Corporate Authorisations) Department

The Bermuda Monetary Authority (Authority or BMA) is seeking the services of a skilled and capable individual to work as a Deputy Director – Close Monitoring in our Supervision (Insurance, Funds, Corporate Authorisations) Department. Reporting to the Director, the Deputy Director – Close Monitoring will lead the Authority’s Close Monitoring Team responsible for examining and analysing the compliance status of companies that are under close monitoring and/or investigation. The successful candidate will develop the Close Monitoring Team into a centre of excellence for investigations, close monitoring and the preparation of evidence for administrative action. They will guide supervisory teams in the collection and preparation of evidence and work closely with international regulators on the regulation of cross-border groups.

This is a key role for the Authority and the post-holder will be responsible for leading a multi-disciplinary team of professionals in:

Evidence collection and management:
• Establishing and maintaining standards for the collection, handling and organisation of evidence to a high evidentiary standard, including document identification, dating, provenance, chain of custody, etc.
• Identifying, collecting and managing documents and information and guiding supervisory teams on evidence collection during regular supervision and onsite reviews
• Analysing, preparing and organising evidence such as financial reports, regulatory filings, transactional documents, contracts and corporate governance documents to evaluate compliance with existing laws, regulations, policies, plans and procedures
• Creating and implementing a suite of analytical tools to streamline and manage evidence collection and analysis

Reviews and investigations:
• Planning, leading and directing reviews of regulated entities and their controllers, officers and other relevant persons under close monitoring or investigation
• Overseeing, reviewing and reporting on the work of investigators, skilled persons and other professionals appointed by the Authority or by regulated entities in conjunction with the Authority’s Legal Services and Enforcement Department
• Working closely with and supporting the Authority’s Legal Services and Enforcement Department on the conduct of administrative and enforcement actions, including restructuring or remediation of regulated entities

Risk management and process improvements:
• Identifying key risk issues for regulated entities under close monitoring, formulating corrective action plans and reporting on findings to senior management
• Monitoring developments in insurance and investment funds, regulatory regimes, international standards, insolvency and resolution practice, and accounting and actuarial standards to anticipate and address potential risks in the Bermuda market, reporting to senior management on trends
• Overseeing the team responsible for monitoring and managing non-compliance, determining the appropriate regulatory response, including escalation where warranted, and applying other available supervisory tools, such as late fees
• Developing the Close Monitoring Function as a centre of excellence by establishing feedback loops that use lessons learned to inform the Authority’s risk appetite, enhance operational practices and strengthen due diligence at licensing and throughout the ongoing supervision of regulated entities, as well as training staff to enhance risk-based supervision through the early identification of risks and the application of appropriate supervisory responses
• Supporting the Authority’s ongoing work on resolution processes

Insurance supervision:
• Representing the Authority with domestic and international regulators, groups and governmental agencies when relevant and attending meetings and conferences as required
• Working as a part of the Authority’s Insurance Supervisory Team to achieve departmental objectives
• Performing other related work and special projects as assigned by senior 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 master’s degree or equivalent qualification in law, business or finance from a recognised institution or professional body
• A professional qualification, such as chartered accountant, actuarial, chartered public accountant, chartered management accountant, certified financial analyst, certified forensic accountant, certified fraud examiner, or national association of forensic accountants’ certification
• Minimum of twelve (12) years of experience within the financial services industry and/or with a regulatory body, with at least five (5) years managing and building teams
• Demonstrated experience managing and conducting contentious investigations, including interviewing, analysing complex evidence and preparing and organising evidence for administrative and enforcement actions to the relevant evidentiary standard
• Demonstrated experience with restructuring and resolution work, including corporate reorganisation and restructuring and corrective action plans
• Good understanding of Bermuda regulatory and administrative law and procedures as well as insolvency proceedings and processes, including Bermuda’s restructuring regimes, provisional liquidation and schemes of arrangement
• Experience working with international regulators, including through supervisory colleges or crisis management groups, would be an asset
• Experience in analysing and assessing governance and risk management frameworks
• Superior research skills and highly organised
• Superior analytical skills, including the use of analytical tools
• Proven effective stakeholder engagement and communication skills, including the ability to influence and guide without direct authority
• Ability to act quickly and decisively and to exercise sound judgement in urgent or crisis situations
• Ability to be impartial and maintain confidentiality

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 online via our ‘Careers at BMA’ page on www.bma.bm/vacancies. Applications for this position must be received no later than 30 October 2026.

Bermuda Monetary Authority is an Equal Opportunity Employer

BMA House | 43 Victoria Street, Hamilton HM 12 | [email protected] | (441) 295 5278

Professionalism, Integrity, Accountability, Adaptability, Collaboration