Deputy Director - Supervision (Insurance)

at  Bermuda Monetary Authority

SUPERVISION (INSURANCE) DEPARTMENT

The Bermuda Monetary Authority (Authority or BMA) is seeking the services of a skilled and capable individual to work as a Deputy Director in our Supervision (Insurance) Department. Reporting to the Deputy Managing Director, the Deputy Director will be accountable for leading a professional team responsible for examining and analysing compliance evidence of companies that are subject to enhanced supervision and/or are the subject of statutory investigations. The role includes demonstrating a solid knowledge of financial products and company governance structures with the ability to apply strong verbal and written communication skills, superior analytical and research skills and maintain confidentiality.

THIS POSITION REQUIRES A PROVEN TECHNICAL AND BUSINESS BACKGROUND; THEREFORE, THE POST HOLDER MUST HAVE:

• A master’s degree or equivalent qualifications in business, finance, economics or related field from a recognised institution or professional body
• A professional qualification such as a Chartered Accountant, Chartered Actuary, Chartered Public Accountant, Chartered Management Accountant, Certified Financial Analyst, Certified Forensic Accountant, Certified Fraud Examiner and/or National Association of Forensic Accountants Certification would be a distinct advantage
• Minimum of 12 years related experience, of which at least five (5) years must be at a senior level managing and developing teams and building high-performance cultures within the financial services business (specifically the insurance industry), and/or working experience with a financial regulatory body
• Experience with corporate reorganisation and restructuring, corrective action plans for compliance, financial restructuring, enterprise valuation and financial accounts consolidation would be an asset
• Experience analysing and assessing governance and risk management frameworks
• Superior research skills and highly organised
• Superior analytical skills, including through the use of analytical tools
• Proven effective stakeholder engagement and communication skills
• Ability to be impartial and maintain confidentiality
  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 our ‘Careers at BMA’ page on www.bma.bm. Applications for this position must be received no later than 14 June 2024.
  Bermuda Monetary Authority is an Equal Opportunity Employer.
  Individual Excellence…Collective Strength

• Examining and analysing evidence such as financial reports, regulatory filings, etc. and utilising various risk assessment methodologies to evaluate compliance with existing laws, regulations, policies, plans and procedures
• Identifying key risk issues, formulating corrective action plans and reports on findings for submission and discussion with management
• Examining financial records and accounts and determining the value of assets
• Creating a suite of analytical tools to streamline data analysis
• Preparing and presenting reports on evidence findings and analysis
• Attending meetings with enforcement management as well as the Enforcement Committee of the Authority to discuss findings of reviews
• Undertaking projects utilising skills related to meeting the Authority’s supervisory and regulatory responsibilities
• Monitoring the market with a specific focus on developments in the financial services industry, regulatory bodies/regimes and accounting standards
• Working as a part of the Authority’s Insurance Supervisory Team to achieve departmental objectives
• Performing other related work and special projects as assigned by management in accordance with competencies normally associated with the post