Head of Bermuda Reserving

Jun 14, 2017

 

Our client is a leading, Class 4 listed re/insurance and financial services group, head quartered in Bermuda.  Due to continued growth, the company is looking to recruit Head of Bermuda Reserving.

Role Purpose:  Oversee reserving process and (associated financial reporting of reserves) for all Bermuda companies.

Reports to: Chief Reserving Actuary (Bermuda based)

Key Accountabilities

  • Perform Quarterly Reserve Monitoring (and ad-hoc analysis as needed) for all Bermuda entities/portfolios in order that adequate reserves are recorded and correctly reported at each quarter-end.
  • Perform full actuarial reserve reviews (according to a schedule to be determined and in conjunction with independent 3rd party actuaries as needed or as deemed appropriate) for each Bermuda entity/portfolio within the Non-Life active and runoff segments in order that balance sheet reserves are adequate and income-statement reserve changes are appropriate.
  • Ensure that reserving controls are appropriately applied in a timely matter in order to ensure quality and accuracy in reserving analyses.
  • Oversee production and development of actuarial / reserve-related disclosures within the Group’s quarter and annual SEC filings (10Q, 10k)
  • Integrate newly acquired portfolios into the reserving process as needed.
  • Ensure all BMA regulatory requirements around reserving are met in a timely fashion.  Sign Bermuda LRSO for Bermuda-based entities.
  • In addition to the above key responsibilities, you may be required to undertake other duties from time to time as the Company may reasonably require.
  • Responsible for coaching, developing and motivating direct reports.  Responsibilities include but are not limited to: recruitment and selection; employee appraisals and proactively addressing employee grievance and performance issues.  It is important that these duties are carried out in accordance with Company policies and practices and in conjunction with HR.

Person Specification

Experience:

  • 5-10 years of reserving experience for Non-Life business.
  • Excellent communication skills in order to work closely with various departments including Finance, Claims, Underwriting/Pricing, Capital Modeling, IT.

Knowledge:

  • Must have actuarial qualification (e.g. FCAS, FIA)
  • Good Data management skills helpful
  • Knowledge of ResQ reserving software helpful.
  • Knowledge of Bermuda Regulatory Environment (Technical Provisions, Economic Balance Sheet helpful)

General Skills / Attributes:

  • Ability to work collaboratively with a variety of individuals in a variety of functions (e.g. finance, claims, underwriting, actuarial, operations) located in a variety of offices (US, UK, Australia, Bermuda).
  • Highly motivated individual who can work long hours when needed.
  • Must be able to deliver results under tight deadlines.
  • Good problem-solving abilities
  • Must be adaptable to a changing environment as development of Actuarial Target Operating model is underway.

Please forward a detailed resume and covering letter to: Alistair McNeish, PwC Human Capital Consulting Ltd., bermudatopjobs@bm.pwc.com 


For further information on this job contact us at bermudatopjobs@bm.pwc.com

 

Contact us

Alistair McNeish
Director, Human Resource Services
Tel: +1 441 298 9708
Email

Linda Holmes
Human capital consulting
Tel: +1 441 298 9706
Email

Lyndsay McCabe
Client Administrator
Tel: +1 441 298 9705
Email

Connect with us