Kuvare is a growth-oriented insurance platform that delivers diversified annuities, life insurance, and supplemental products to the middle-income and mass-affluent consumer segments through its acquisition-led growth strategy. Kuvare provides proven capabilities, strategic support, substantial resources, and patient capital to help insurance companies pursue and achieve sustainable growth opportunities. With its patient capital, Kuvare targets differentiated annuity and life insurance companies to bring into its family of brands.
Summary/Objective
Kuvare Services Bermuda Ltd. (“KSB”), a Bermuda based service provider to affiliated and regulated Bermuda domiciled long-term reinsurers, is seeking an Assistant Vice President, Actuary to support KSB’s continued growth. Reporting to the VP Actuarial Manager and managing actuarial staff, the incumbent will play a critical
role in ensuring the success of the Actuarial team, as well as supporting the success of other functions within KSB.
Duties & Responsibilities:
Oversee and perform numerous tasks and duties for valuation, inforce management, modeling, risk, capital management and investments, which include but not limited to:
▪ Manage and contribute to the production of KSB’s quarterly and year-end US GAAP financial and
regulatory reporting for senior management and the Board, regulatory submissions to the Bermuda
Monetary Authority (BMA) e.g., Capital & Solvency Return, Financial Condition Report, CISSA and
Financial Statements;
▪ Oversee, implement, and improve actuarial modeling and workflows throughout the entire actuarial life
cycle by streamlining, standardizing, and automating processes that increase operational and reporting
efficiencies;
▪ Manage the execution of the business plan through development of new models, assumptions, policies
and valuation processes for new deals, along with the continuous enhancement of existing actuarial
processes and controls, production and maintenance of memos and documentation, and oversee the
valuation change management process;
▪ Serve as a point of contact for internal and external stakeholders, including the Kuvare Group, cedants,
auditors, and consultants;
▪ Serve as a subject matter expert on US GAAP (LDTI), US Stat, Bermuda EBS (SBA & BSCR), and/or AXIS
modeling;
▪ Support governance and validation processes for Kuvare’s Scenario Based Approach “SBA” modeling;
▪ Oversee actual to expected experience analysis, monitor and evaluate the performance of inforce deals
against pricing, and develop and propose updates to valuation assumptions, as necessary;
▪ Stay abreast of industry developments, financial reporting, and regulatory changes. Understand,
interpret, and communicate new requirements that will affect various reserving and capital bases;
▪ Manage ad-hoc requests for supplemental financial and reporting information; and
▪ Manage and coach actuarial staff and external consultants.
Experience:
▪ Bachelor’s degree in Actuarial Science, Mathematics, Finance, Risk Management or similar;
▪ SOA FSA or equivalent designation;
▪ Minimum of 8+ years relevant full-time actuarial experience, working directly for a life/annuity
(re)insurance company or consulting organization;
▪ Advanced actuarial modeling skills in AXIS, Prophet, ALFA, and/or Milliman’s Integrate
▪ Technical, analytical and lateral thinking individual with an eye for detail;
▪ Excellent critical thinking, sound judgement and problem-solving skills;
▪ Strong stakeholder management skills and ability to effectively manage staff and prioritize competing deadlines, projects, and ad-hoc requests as they arise;
▪ Excellent business and collaboration, leadership, and communication skills both written and oral
▪ Willingness and capacity to work overtime including evenings, weekends, and public holidays and on short notice when needed to meet time-sensitive tasks.
Skills/Competencies:
▪ Advanced proficiency in Moody’s AXIS;
▪ Advanced knowledge of US GAAP, US Stat, Bermuda EBS and BSCR, RBC, and/ or Solvency II;
▪ Advanced knowledge of fixed-income investments and asset modeling;
▪ Working knowledge of annuities (FDAs, FIAs, PAs) and life insurance products; and
▪ Experience with managing projects and employees;
Kuvare company is an equal opportunity employer that makes hiring decisions based on merit, qualifications, and the business need. We are dedicated to a policy of nondiscrimination in employment on any basis including age, sex, color, race, creed, national origin, religious persuasion, marital status, political belief, or disability that does not prohibit performance of essential job functions. We encourage all qualified candidates to apply.