The Bermuda Monetary Authority Careers

Description

Deputy Director
Supervision (Insurance) Department

The Bermuda Monetary Authority (Authority or BMA) is seeking the services of a skilled and capable individual to work as a Deputy Director in the Supervision (Insurance) Department. Reporting to the Deputy Managing Director, the Deputy Director will be responsible for leading a small team that will act as a centre of competence for BMA’s insurance regulatory and international affairs matters, with a focus on climate and sustainability, international and domestic advocacy, enhancement to supervisory frameworks including a focus on group supervisory framework and supervisory practices for cross-border insurance groups and BMA thought leadership papers. The post holder will be capable of anticipating and analysing international developments and providing strategic advice on international affairs and regulatory matters. The role will involve a high degree of collaboration with colleagues across the Supervision (Insurance) Department and the BMA.

This is a key role for the Authority and the postholder will be responsible for but not limited to:
• Promoting and facilitating the implementation of the international affairs strategy for insurance and the annual work programme
• Assisting in the identification of international affairs and regulation objectives and priorities
• Identifying issues concerning insurance-related international affairs and providing strategic advice
• Developing a ‘best practice’ approach to supervisory colleges and other forms of supervisory coordination arrangements
• Leading the Authority’s climate working group and ensuring effective knowledge sharing across the BMA
• Monitoring, analysing and advising on relevant international policy and regulatory developments for insurance. Providing appropriate and regular insurance regulatory affairs updates to the broader BMA, including regulatory developments across jurisdictions that might be relevant for Bermuda
• Collaborating on the articulation and development of the BMA’s position on international and regulatory matters, communicating legislative and policy requirements to external stakeholders
• Working with Senior Managers on strategic matters, such as the BMA Board of Directors reporting, briefings and developing strategic initiatives
• Creating policy recommendations and guidelines to integrate climate risks and international insurance regulations into the supervisory framework
• Acting as a contact point for engagement and regulatory work with relevant international partners. Organising bilateral meetings and overall policy regulatory analysis related to the Bermuda equivalence status
• Advising and supporting the BMA’s international engagement and public affairs. Liaising, developing and maintaining relationships with international regulators and other international stakeholders
• Supporting, advising and coordinating the BMA’s engagement at the International Association of Insurance Supervisors, working closely with other BMA representatives and stakeholders
• Attending and actively participating in local and international meetings, conferences and fora relating to international affairs matters
• Advising and supporting the European Insurance and Occupational Pensions Authority (EIOPA) monitoring assessment. Managing relationships, negotiations and communications with EIOPA, and leading follow-up on their monitoring assessment
• Working closely with colleagues across the BMA. Assessing the impact of international developments and undertaking regulatory analysis
• Leading the International Affairs Working Group for insurance, including developing the agenda, organising meetings and providing strategic recommendations on international political and regulatory matters
• Advising and supporting the Insurance Department’s international engagement. Liaising with international regulators and working closely with the Insurance Supervision Teams.
• Supporting engagements with industry associations on regulatory matters. Participating in meetings and events, contributing to the development of documents and organising events
• Providing management, leadership and supervision to team members, including providing professional advice, encouragement and guidance in conducting their assignments and achieving both departmental objectives and personal goals
• Performing other related work and special projects as assigned by the Deputy Managing Director or other Senior Executives in accordance with competencies normally associated with the post

This position requires the following skills, abilities and interests:
• A master’s degree or equivalent designation in insurance, finance, policy or law from a recognised institution or professional body
• A minimum of twelve (12) years’ experience, with at least five (5) years at a senior level in the financial services business and/or working experience with a financial regulatory body, preferably in insurance
• Strong knowledge of Bermuda, US, EU, UK and other international insurance regulatory environments, legislation and policy-making processes. Experience in international organisations and an ability to operate at a senior level with the highest professional standards and personal integrity
• Direct and in-depth knowledge of group supervision, climate risk management-related considerations for the insurance sector and international climate policy developments, e.g., IAIS and regulatory frameworks
• Demonstrable experience in managing complex projects within politically sensitive environments, analysing and interpreting policy and legislative provisions
• Experience operating in an international environment and evidence of a track record that includes operating effectively within a diverse global multicultural environment
• A thorough understanding of the nature of the financial services business conducted by the Bermuda insurance industry and of the Bermuda economy
• Strong time management and planning skills
• Good verbal and written communication skills and an ability to communicate and explain complex issues to a variety of audiences
• Proven problem-solving and negotiation abilities and interpersonal skills
• A strong work ethic, trustworthiness and commitment to meeting deadlines
• Willingness to travel extensively to international locations
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 www.bma.bm/vacancies. Applications for this position must be received no later than 15 September 2025.

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