Director/AVP, Actuarial Reporting

Mar 21, 2019

Our client is a specialist Bermudian life reinsurance company and a subsidiary of a UK publicly traded life insurance group. The company’s mission is to build a global, diversified and lasting life insurance company. Their focus is providing excellent policyholder service and delivering sustainable financial results within a well-controlled risk framework

The company’s objective is to grow the business through the acquisition/reinsurance and management of in-force portfolios. It aims to be a leader in resolving significant overcapacity in highly mature life insurance markets, acquiring life insurers’ non-core businesses.

The Role

This is an opportunity to join a growing entrepreneurial life insurance organization. The Director/AVP, Actuarial Reporting is a high visibility and hands-on role designed for a financial Actuary who is an expert in US GAAP and Bermuda statutory reserving and capital. This position will establish and implement the actuarial infrastructure to support the GAAP and Bermuda financial reporting requirements of the company.

The style of the ideal candidate must be hands-on, focused and direct to be impactful in this fast-paced, entrepreneurial culture.  The selected candidate will uphold the highest standards of financial integrity, financial discipline and transparency.

Essential Responsibilities

  • Manage the life-cycle of valuation including (i) transition from seller, including confirmation and monitoring of reserves immediately post-acquisition, (ii) creation of necessary data extracts and reports, validation of valuation systems, and (iii) the development of robust, controlled processes to generate stand-alone reserves and other liabilities
  • Establish data reconciliation, reserve recalculation, and trend analysis procedures on results from valuation systems,
  • Oversee creation and maintenance of valuation methodology documentation
  • Establish necessary processes to calculate reserves outside of valuation systems
  • Establish necessary processes to set actuarial assumptions, including analysis of data and preparation of materials for management committees
  • Peer review of monthly, quarterly, and annual reserve summaries across all bases
  • Manage development of financial reporting processes to ensure appropriate reflection of liabilities and other estimates in financial statements and BSCR submission templates
  • Assist in creating management reporting
  • Assist in gathering information and analysis for internal and external auditor inspections
  • Research of actuarial literature when actuarial treatments unclear Due diligence work on potential acquisitions.  Development of PGAAP balance sheet and integration of acquired business into existing processes and controls.
  • Participation and representation of the Company’s interest in industry working groups and other venues, where appropriate
  • Staffing and recruiting (as required)


  • FSA, FIA or equivalent required
  • 10-15 years of life insurance experience preferred with range of experience, including valuation, financial reporting, and modeling (job title and level is based on amount of relevant experience)
  • Strong understanding of Bermuda Solvency Regime (preferred) or comparable solvency based reserving regime (Solvency II, Canadian IFRS, Cash Flow Testing, etc.)
  • Strong understanding of U.S. GAAP guidance and practical application thereof
  • Familiarity with control design and testing
  • Bachelor’s Degree in Actuarial Science, Mathematics, Finance, Statistics, or related area


Please forward a detailed resume in confidence to:

PricewaterhouseCoopers Executive Search


Tel: 441-295-2000

For further information on this job contact us at


Contact us

Alistair McNeish

Director, Human Resource Services, PwC Bermuda

Tel: +1 441 298 9708

Linda Holmes

Human capital consulting, PwC Bermuda

Tel: +1 441 298 9706

Lyndsay McCabe

Client Administrator, PwC Bermuda

Tel: +1 441 298 9705

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