Actuarial Services - Director (Life Insurance)
Job Description & SummaryPwC Bermuda serves 50% of the largest life reinsurers in Bermuda, primarily Channel 1 clients with a small number of Channel 2 clients. This market is a key area of growth for international insurance business in Bermuda. The Bermuda life reinsurance market is now bigger than the property/casualty market when measured by total assets under management. To support our position in this market, PwC Bermuda are looking for an exceptional candidate for our Actuarial Services team, providing actuarial services to our life (re)insurance clients, as well as developing new relationships and service offerings for non-clients.
The successful candidate will drive the growth of the actuarial consulting practice, while also supporting our market leading audit practice. This Director level position would suit an ambitious, goal-oriented actuary, looking for challenges in an exciting and dynamic market. Responsibilities will include and are not limited to:
- Driving business development activities in the life (re)insurance market in Bermuda, including involvement in industry groups etc;
- Co-developing our actuarial advisory and consulting solutions; including service offerings related to IFRS 17
- Providing audit support services to a range of life (re)insurers and captives, both in Bermuda and throughout the Caribbean;
- Providing actuarial advisory and consulting services including performing approved actuary roles, financial reporting, profitability reviews for life reinsurers, risk and capital modelling, and other actuarial projects;
- Maintaining knowledge of industry, market, and competition; anticipate external market trends, internal and client needs;
- Providing training to new audit staff on actuarial issues.
The successful candidate will have the following skills and experience:
- Credentialed Fellow of the Institute of Actuaries or Society of Actuaries (or equivalent) with at least 15 years practicing experience;
- Extensive US GAAP and IFRS Reserving and Auditing experience across a wide range life insurance products including both Fixed and Variable Annuities;
- Practical experience of capital modelling and/or ERM required;
- Extensive experience in building and maintaining client relationships;
- Proven successful experience in business development initiatives;
- Exceptional communication (verbal and written communication skills in English), organizational, and interpersonal skills;
- Experience with the Bermuda regulatory market, or with similar regulators in other jurisdictions would be an asset;
- Experience with IFRS 17 would be an asset
- Ability to work under pressure and manage several ongoing projects simultaneously while meeting tight deadlines; and
- Experience with leading teams and in people management, including coaching and developing staff;
- Flexibility to work evenings and weekends as required.
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