Kuvare Services Bermuda Ltd. (“KSB”), a Bermuda based service provider to affiliated and regulated Bermuda domiciled long-term reinsurers, is seeking a Director, Actuary to support KSB’s continued growth. Reporting to the VP Actuarial Manager and overseeing Actuarial Associates and/or Actuarial Interns, 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 and Responsibilities
- Performing numerous tasks for valuation, inforce management, modeling, as well as risk, capital management and investment-related tasks;
- Develop and improve actuarial modeling and workflows to automate processes and increase operational and reporting efficiencies;
- Support production of KSB’s quarterly and year-end actuarial reporting for senior management and the Board, as well as contribution to regulatory submissions to the Bermuda Monetary Authority (BMA) e.g., Capital & Solvency Return, Financial Condition Report, CISSA and Financial Statements;
- Conduct actual to expected experience analysis, monitor and evaluate the performance of inforce life and annuity portfolios against pricing, and develop and propose updates to valuation assumptions, as necessary;
- Support production of the business plan through development of new models, assumptions and valuation processes for new deals, along with the continuous enhancement of actuarial processes and controls, production of accounting memos and responding to audit requests;
- Ability to keep abreast of industry development, financial reporting, and regulatory market trends and understand and interpret regulatory requirements that will affect various reserving and capital bases;
- Demonstrate a continued desire to learn and take ownership of production processes and projects as a key member of the team, including sharing knowledge and managing more junior staff;
- Technical, analytical and lateral thinking individual with an eye for detail with the ability to prioritize and meet strict deadlines to support reporting and ad hoc tasks as they arise; and
- Maintain a high degree of confidentiality.
- Bachelor’s degree in Actuarial Science, Mathematics, Finance, Risk Management or similar;
- FSA, ASA or similar designation;
- Demonstrate a minimum of 5+ years relevant full-time actuarial experience, working directly for a life/annuity (re)insurance company or consulting organization;
- Working knowledge of US GAAP, US Stat, RBC, Bermuda EBS and BSCR, or Solvency II;
- Good knowledge of annuities (FDAs, FIAs, PAs) and life products;
- Experience utilizing Moody’s AXIS models;
- Critical thinking and sound judgement;
- Ability to effectively collaborate with a range of stakeholders within KSB and external stakeholders;
- Exhibits self-motivation and takes initiative without the need for approval;
- Excellent interpersonal 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.
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.