Overview

CHIEF OPERATING OFFICER AND SENIOR ACTUARY | 30181

The Head of Operations and Senior Actuary is responsible for leading the pricing and underwriting function and overseeing the effective day-to-day operation of the Bermuda office. The role manages the Bermuda-based team, coordinates delivery across functions and service providers, and supports the Group Director, executive management and the Board in executing approved strategy, business plan and regulatory obligations.

Ref: 30181

  • Location: Bermuda
  • Category: Life Actuarial
  • Type: Permanent

Overview

Key responsibilities including but not limited to the following:

  • Oversee reinsurance transactions from structuring and pricing through execution, implementation and post-transaction performance monitoring
  • Evaluate and recommend reinsurance structures and risk transfer solutions consistent with approved risk appetite, capital objectives and business strategy
  • Ensure robust pricing methodologies, underwriting standards, controls and governance processes are maintained
  • Monitor market developments and assess implications for reinsurance pricing, capacity and transaction opportunities
  • Conduct treaty performance analysis and recommend enhancements to underwriting practices and portfolio management
  • Support development and implementation of new asset, product, underwriting and risk management capabilities in collaboration with relevant Group functions
  • Support development of annual business plans and operating budgets and oversee execution against approved plans and priorities
  • Oversee performance and governance of outsourced functions, third-party service providers and intra-group service arrangements, ensuring compliance with contractual and regulatory requirements
  • Support the maintenance and effective operation of the Company’s governance framework, including delegated authorities, management committees and governance reporting
  • Develop and maintain management information, key performance indicators and operational reporting to support effective oversight and decision-making
  • Coordinate and contribute to Bermuda Monetary Authority (“BMA”) regulatory filings, statutory reporting and management reporting requirements
  • Act as a principal management contact for the BMA on operational, underwriting and governance matters within the established regulatory engagement framework
  • Support and, where appropriate, lead regulatory engagements, supervisory reviews and information requests in accordance with approved governance protocols
  • Support compliance with the Bermuda Insurance Code of Conduct and all applicable legal, regulatory and internal policy requirements
  • Oversee identification, assessment and management of operational risks and controls across Bermuda operations and service providers
  • Escalate material risks, control weaknesses, regulatory issues, policy breaches and emerging concerns in a timely manner

Qualifications required:

  • University degree in actuarial science, mathematics, statistics, finance, business or a related discipline
  • Fellow of a recognised actuarial professional body (FSA, FIA or equivalent)

Experience required:

  • Minimum 15 years of relevant insurance, reinsurance or actuarial experience
  • Substantial experience in life reinsurance pricing, structuring, underwriting, transaction execution or capital management
  • Strong knowledge of life and health insurance products and reinsurance structures, particularly within Asian markets
  • Experience operating within a regulated insurance or reinsurance environment, ideally including Bermuda
  • Demonstrated experience managing operational activities, governance processes and cross-functional stakeholders within a regulated financial services environment
  • Demonstrated experience interacting with insurance regulators, governing bodies and senior oversight committees
  • Strong understanding of legal entity governance, operational management and regulatory requirements
  • Ability to assess and explain the financial implications of business decisions under multiple accounting and capital frameworks, including IFRS 17
  • Strong knowledge of risk-based capital and solvency regimes, ideally including Bermuda EBS and BSCR

Consultant

Patrick McAleer

Director | International Actuarial

T: +44 (0) 203 867 9866

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