Gibraltar Reinsurance Company Ltd. (Gibraltar Re) and Lotus Reinsurance Company Ltd. (Lotus Re) are seeking a Chief Actuary to lead the actuarial function and help drive the businesses forward.
Gibraltar Re and Lotus Re are growing life reinsurance companies based in Bermuda, successfully transitioning from startup phase to a more established structure. Over the past year, we have built out our operating model, expanded our team, and executed key transactions.
As Chief Actuary, you will report directly to the CFO and oversee the actuarial function, leading a team of 24 actuaries across Bermuda, the US, and other global locations. You will be responsible for valuation, pricing, regulatory interactions, and strategic actuarial initiatives, playing a critical role in both business execution and long-term strategy.
This role is ideal for a technically strong actuary with deep valuation expertise, a strong regulatory understanding, and leadership experience in life reinsurance.
Primary responsibilities include, but are not limited to:
- Valuation & Financial Reporting: Oversee actuarial valuation processes, including BMA EBS, US GAAP, and other reporting frameworks. Ensure timely, accurate, and insightful financial reporting.
- Regulatory Engagement: Lead interactions with the Bermuda Monetary Authority (BMA), ensuring regulatory compliance, responding to requests, and gaining necessary approvals.
- Pricing & Transactions: Support the pricing and structuring of block transactions and flow reinsurance business. Ensure actuarial assumptions and methodologies align with business objectives.
- Automation & Model Migration: Drive efficiency improvements, automation initiatives, and actuarial model migration efforts.
- Leadership & Team Development: Manage and develop the actuarial team, fostering a high-performance culture while maintaining our collaborative and supportive work environment.
- Governance & Controls: Maintain a strong risk and control environment, ensuring robust actuarial governance. Lead the first-line oversight of model risk management, in particular providing oversight and challenge to model changes within the Scenario Based Approach (SBA)
Qualifications:
- Fellow of a recognized actuarial body (FIA, FSA, FCIA, or equivalent).
- Extensive experience in life reinsurance, with a strong focus on valuation and financial reporting.
- Deep understanding of BMA EBS and Bermuda regulatory requirements.
- Proven leadership experience managing and developing actuarial teams.
- Strong communication skills, with the ability to engage with regulators, senior executives, and external stakeholders.
- Experience with automation, process improvement, and actuarial model migrations.
- Prior involvement in pricing and structuring block transactions and flow business is highly desirable.
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