Prudential Financial

This role is based in Hamilton, Bermuda.

Gibraltar Reinsurance Company Ltd. (Gibraltar Re) and Lotus Reinsurance Company Ltd. (Lotus Re) are looking to fill a newly created Vice President, Head of Actuarial Regulatory Guidance role. This will report to the Chief Actuary.

This position will involve; providing guidance on the interpretation and implementation of new regulations set out by the Bermuda Monetary Authority (BMA), providing support and guidance to quantify potential changes, staying abreast of the regulatory landscape, providing independent 1st line challenge to the actuarial function and deputizing for the Chief Actuary as required. This position will also be responsible for providing guidance related to and contributing to key regulatory submissions such as documentation requirements to support block transactions and regulatory approvals.

The position will provide the Vice President with the opportunity to shape the strategic priorities of the Actuarial Team, they will gain a broad experience across a range of actuarial disciplines and collaborate across actuarial and non-actuarial teams, including Finance, Treasury, Global Portfolio Management, Audit and Risk Management.

Primary responsibilities include, but are not limited to:

• Monitor the regulatory landscape, ensuring key stakeholders are kept abreast of regulatory changes as well as supporting them to understand how the changes may impact existing business and future transactions
• Support the senior leadership team in managing the relationship with the Bermuda Monetary Authority as well as supporting other adhoc regulatory interactions
• Report and track regulatory action, to ensure actions are implemented within the timeframe agreed with the regulator
• Support the Chief Actuary in preparation for committee meetings as well as supporting with reviewing and challenging regulatory fillings such as the BSCR template and CISSA submissions
• Support the Chief Actuary in their attestation of the appropriateness of the assumptions used within the SBA model as well as confirmation on compliance with the regulatory requirements
• Lead the first-line review and challenge of the actuarial function, including reviewing and strengthening the control environment across the actuarial function to foster a positive risk culture within the first-line
• Lead the first-line oversight of model risk management, in particular providing oversight and challenge to model changes within the Scenario Based Approach (SBA)
• Lead the development and maintenance of appropriate challenger models to support the overall model risk management framework
• Lead interactions with the second-line to support the enterprise view of the overall risk environment
• Support and help drive future Bermuda reinsurance transaction related projects

Qualifications:

• Bachelor’s Degree Required
• Credentialed actuary – FSA, FIA (CERA or international equivalent)
• 8+ years of actuarial, risk and reinsurance related work experience required
• Direct regulatory engagement and interaction experience (BMA or other)
• Knowledge of risk management and control design
• Knowledge of EBS, Solvency II, US GAAP
• Knowledge of Japanese Life products would be beneficial
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Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.

Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services, some of which may not be available in your area.

We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.

Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status , medical condition or any other characteristic protected by law.