Assistant Director – International Active
Insurance Groups (IAIG)
Supervision (Insurance) Department
The Bermuda Monetary Authority (Authority or BMA) is seeking the services of a skilled and capable individual to work as an Assistant Director in our P&C Supervision (Insurance) Department responsible mainly for IAIG. Reporting to a Deputy Director, the Assistant Director will be responsible for directing and managing teams and individuals to meet the objectives and goals of the Insurance Department by way of effective plans and schedules that support the strategic plan and overall objectives of the BMA. Additionally, the Assistant Director will be accountable for demonstrating effective leadership qualities and communication/relationship skills, providing the basis for quality service and performing duties.
This is a key role for the Authority and the post-holder will be responsible for but not limited to:
* Preparing and/or reviewing risk assessments and evaluations/reports containing the results of the on-site and other assessments
* Conducting meetings with company officials to obtain information concerning the licensure and supervision of all insurance entities and/or discussing specific details of any regulatory requests made
* Providing Senior Management support to the Authorisations and Licensing Committee in its review and consideration of all applications for registration under the Insurance Act 1978
* Reviewing and evaluating situations where projects or time-critical tasks may be achieved through outsourcing in addition to overseeing/monitoring all such approved activities involving consultants, ensuring desired results are achieved within budget
* Participating in the drafting of internal policies, procedures and guidance notes as needed
* Developing annual budgets for the effective management of the Department, ensuring controls are in place to monitor department operations and providing accountability for funds distributed in keeping with the goals/objectives of the BMA
* Representing the Authority at various local and international meetings, conferences and seminars involving meetings and information exchanges with regulatory bodies, government agencies and the financial services industry
* Managing, developing and maintaining key relationships with other regulatory bodies, government agencies and the financial services industry whilst keeping abreast of industry trends
* Managing a team of professionals undertaking risk-based supervision of all licensed or regulated entities in the insurance sector by providing a risk-based framework involving the analysis of financial and other information obtained in the normal course of supervision. The supervisory aspect includes a mix of off-site analysis of financial and other performance data, prudential and other meetings with senior management of licensed firms and on-site compliance reviews of aspects of firms' business
* Providing management leadership and supervision to assigned teams and individuals with respect to providing professional advice, encouragement and guidance in conducting their assignments and achieving both departmental objectives and personal goals
* Identifying the training needs of employees and, in conjunction with learning and development, establishing programmes for their development by way of formal training courses, special projects or on-the-job exposure
* Overseeing the performance of individual team members, providing direction, mentoring and feedback. Conducting formal performance appraisal discussions as prescribed by the performance management process
* Performing other related work and special projects as assigned by the Deputy Director, Director or Deputy Managing Director in accordance with competencies normally associated with the post
This position requires a proven technical and business background; therefore, the post-holder must have:
* A Master's degree or equivalent designation in insurance, finance or accounting from a recognised institution or professional body (e.g. CPA, CA, CPCU, CFA, etc.)
* A minimum of ten (10) years of experience, of which at least five (5) years should be at a senior level in the financial services business and/or working experience with a financial regulatory body
* Experience working in supervision of International Active Insurance groups or specific knowledge and practical experience in areas specifically relevant for IAIG.
The Bermuda Monetary Authority is the integrated regulator of Bermuda's financial services sector. We offer the opportunity for broad exposure to international regulatory issues, special projects and a variety of work experiences.
If you are looking for a challenging opportunity in a team environment, we invite you to submit your application online via Applications for this position must be received no later than 10 October 2025.