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About the role
Key responsibilities & impact- Reviews of Regulatory Capital Calculations
- Conduct reviews of BSCR calculations for Group and US entities to support effective challenge of the first line
- Maintain and enhance BSCR calculation tools (Excel, actuarial software, internal models) for accuracy and efficiency
- Implement BMA rules and guidance as into processes and modelling solutions
- Analyse changes in regulatory capital and BSCR ratio over time, considering underwriting, reserving, market, credit, and operational risks
- Deliver comprehensive analysis and insights on capital adequacy to inform business planning, determine risk appetite, and facilitate strategic decision-making
- Conduct or support capital impact assessments across multiple scenarios and stress tests involving new products, business lines, or reinsurance structures
- Explore capital optimization, including refining reinsurance strategies, legal entity structures, and intra-group transactions
- Engage collaboratively with Risk Management, Finance, Actuarial and Investments teams to ensure alignment between regulatory capital, economic capital, ORSA/ERM frameworks like risk appetite and stress testing activities
- Effectively communicate complex regulatory capital concepts to non-actuarial stakeholders, such as senior management, in a clear and concise manner
- Facilitate training and knowledge transfer within actuarial and risk teams regarding BMA capital requirements and associated topics
- Design and maintain robust controls around the end‑to‑end BSCR process, including data validation, peer review, and sign-off procedures
- Produce and maintain clear documentation for assumptions, methods, and limitations, including process maps and user guides for the capital calculation tools, governance frameworks and control checklists, contribute to internal and external audit requests related to regulatory capital and actuarial processes
- Develop and refine actuarial methodologies underlying BSCR calculations, such as Stress and scenario testing, aggregation of risks (correlation/matrix structures), parametrization (assumption development) of general insurance underwriting, market, credit, CAT (natural and man-made) and other risks (including Climate, Cyber and Mortgage) where relevant
- Ensure actuarial models and tools comply with internal model governance standards, including documentation, version control, and validation protocols
Requirements
What you’ll need- Near‑qualified or fully qualified actuary preferred (e.g., FIA, FSA, FCIA, FCAS, FIAA, AIA, ASA, ACIA, ACAS, AIAA, or equivalent)
- Bachelor’s or Master’s degree in Actuarial Science, Mathematics, Statistics, Finance, Economics, or a related quantitative discipline
- 10+ years of actuarial experience in P&C (re)insurance
- 5+ years of direct, hands‑on experience with Bermuda regulatory capital calculations, including BSCR, is strongly preferred
- Familiarity with other regulatory regimes (e.g., Solvency II, US RBC, ICS) and ability to compare frameworks
- Including experience with ORSA or similar enterprise risk management frameworks
- Experience interacting with regulators, auditors or rating agencies is preferred
Benefits
Comp & perks- health insurance coverage
- employee wellness program
- life and disability insurance
- 401k match
- retirement savings plan
- paid holidays
- paid time off (PTO)
ATS Keywords
✓ Tailor your resumeApplicant Tracking System Keywords
Tip: use these terms in your resume and cover letter to boost ATS matches.
Hard Skills & Tools
BSCR calculationsregulatory capital calculationsactuarial methodologiesstress testingscenario testingdata validationcapital optimizationrisk aggregationparametrizationactuarial software
Soft Skills
effective communicationcollaborationtraining and knowledge transferanalytical thinkingstrategic decision-makingproblem-solvingattention to detailclear documentationfacilitationstakeholder engagement
Certifications
FIAFSAFCIAFCASFIAAAIAASAACIAACASAIAA