SUPERVISION (INSURANCE) DEPARTMENT

The Bermuda Monetary Authority (Authority or BMA) is seeking the
services of a skilled and capable individual to work as a Data Modelling
and Analytics Specialist in our Supervision (Insurance) Department.
Reporting to an Assistant Director, the Data Modelling and Analytics
Specialist will be responsible for data analysis, research analytics, and
developing and maintaining internal risk analysis tools and models that can
be effectively employed to conduct in-depth analysis, reviews and research.
The incumbent will collaborate closely with supervisory teams to automate
regulatory processes, enhance reporting capabilities and provide technical
guidance on analytical matters. Additionally, the role will contribute to
the continuous improvement of regulatory practices and methodologies,
staying abreast of industry developments and best practices.

RESPONSIBLE FOR:

• Developing and maintaining actuarial models using actuarial
  software to support regulatory oversight, including technical

provisions, solvency assessment, risk analysis and financial reporting

• Assisting in the promotion and implementation of rules, policies,

and guidance affecting the BMA-regulated (re)insurers

• Identifying and reporting circumstances that could be indicators

of potential insurance company distress and recommending

appropriate courses of action

• Performing reviews of regulatory filings of the BMA-regulated

entities and communicating findings to supervisory teams and/or

recommending changes to guidance to address findings

• Utilising advanced statistical techniques and predictive modelling to

analyse insurance company data and identify emerging trends, risks,
and vulnerabilities. Contributing to the building of infrastructure

that will promote the security and integrity of the data

• Conducting thorough technical reviews of reserving, capital and

risk models, including methodologies and assumptions used
by insurance companies to ensure compliance with regulatory

standards and best practices

• Collaborating with cross-functional teams within the Authority

to develop and implement data-informed solutions for addressing

regulatory challenges and achieving strategic objectives

• Automating regulatory processes and building internal tools using

Excel, R and/or Python to support technical analysis of complex

supervision projects and initiatives

• Designing tools and templates used for ad-hoc data calls,

validating and analysing collected data and interpreting the data
for presentation to management, and attending to queries from

registrants arising from the data calls

• Conducting research and staying abreast of (re)insurance industry

developments and contributing to supervisory insight and foresight
to ensure the Authority’s practices align with best practices,
fostering a culture of continuous improvement and excellence in
leveraging data and research for effective decision-making and

strategic initiatives

• Providing support for technical issues, knowledge sharing, as well

as coaching and mentoring to junior team members

• Representing the Authority at various local, regional and

international meetings, conferences and seminars, involving
meetings and information exchanges with other regulatory
bodies, government agencies and the financial services industry to

maintain and develop key relationships as required

• Assisting in other areas of the supervision of insurance companies,

for example, special projects aimed at meeting departmental

objectives, or to address emerging issues

• Performing other related work and special projects as assigned by

management in accordance with competencies normally associated
with the post