Financial Reporting Actuary | Bermuda
FINANCIAL REPORTING – ACTUARY – LIFE INSURANCE – BERMUDA – FCAS OR SIMILAR – ONLY 6% TAX
About this opportunity
Our client, a leading and rapidly growing long term insurer offering reinsurance on fixed-rate annuity contracts, seeks a dynamic and proactive individual to join their actuarial team focusing on financial reporting.
The major responsibilities for this position are as follow:
- Complete the reserve and proﬁt analysis for the actuarial processes as part of the GAAP ﬁnancial close for the reinsurance unit
- Design and implement necessary controls to ensure results are accurate for the reinsurance unit
- Develop and manage the actuarial ﬁnancial planning process for reinsurance unit, and ensure consistency with the rest of the company
- Liaise and coordinate with actuarial and ﬁnance across the organization to ensure consistency in methodologies, assumptions and controls
- Ensure consistency in assumptions and methodologies for the company’s ﬁnancial close process
- Provide support for the statutory ﬁnancial close process, including the analysis of the regulatory capital positions
- Provide support for modeling of new business opportunities, and lead integration of new deals into the established GAAP reporting process
- Support the ALM modeling process and communication to senior management by producing key proﬁtability measures, including cost of fund analysis and experience study analysis
- Provide primary actuarial support for external GAAP audits for the reinsurance segments
- Audit and periodically evaluate the data provided by each cedent; and
- Manage and lead the Bermuda actuarial GAAP reporting team
What you'll need
- Bachelor’s degree in mathematics, actuarial science, or related ﬁeld
- Fellowship of the Society of Actuaries (FSA), or equivalent qualiﬁcation from another Actuarial professional organisation
- 7+ years’ experience working in the Life insurance industry, with majority of experience working in ﬁnancial reporting
- Experience with US GAAP reserving and development of ﬁnancial statements
- Ability to set and manage priorities in a changing work environment is essential
- Ability to interact with senior management and key stakeholders across the organisation; and
- Excellent oral and written English language skills
Twenty one miles in length, Bermuda is a beautiful group of Islands located 600 miles east off the coast of North Carolina, USA. It has a year-round population of 65,000 (over a quarter of whom are expatriates) and this increases significantly during the long, hot summer tourist season when up to half a million visitors arrive. The Island time zone is four hours behind the UK, one hour ahead of East Coast Time. The climate in Bermuda is generally sub-tropical and frost-free, thanks to the Gulf Stream. The local currency is the Bermuda dollar, which is fixed at parity with the US dollar. Both are freely useable on the Island. There is a 6% payroll deduction and no income tax.
Visit the Hamilton Recruitment website to find out more about Bermuda, living and working offshore, and actuarial work on the Islands: http://www.hamilton-recruitment.com/faqs
About Hamilton Recruitment
Hamilton Recruitment specialises in offshore Legal recruitment for destinations such as Bermuda and the Channel Islands, as well as Caribbean jurisdictions like the British Virgin Islands and the Cayman Islands.
Please contact Clare Bishop on clare.bishop @hamilton-recruitment.com or +44 (0)207 873 2243 concerning this opportunity or for more information about living and working offshore.
In the event that you are not shortlisted for this particular vacancy, your details will be held on file and considered for other relevant opportunities.