This role is based in Hamilton, Bermuda.
Pramerica Services Company Bermuda, Ltd., a wholly owned subsidiary of Prudential Financial Group ("PFI", fortune 500 company), is seeking a skilled and highly motivated individual to fill a newly created Risk Manager role based in Bermuda. This role will report to the Chief Risk Officer of Gibraltar Reinsurance Ltd and Lotus Reinsurance Ltd, both are Bermuda Class E long-term reinsurers wholly owned by PFI.
The Risk Manager will be responsible for operationalizing, maintenance and continued enhancement of risk management framework of Gibraltar Re and Lotus Re. The role will drive risk management activities, risk analysis and reporting, business process and controls documentation, produce oversight and monitor risk reporting of 1st line and collaborate with PFI group risk teams as necessary.
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Primary Responsibilities include, but are not limited to:
- Produces quarterly management and board level risk reports. Supports other management and regulatory reporting and applications as necessary, including annual CISSA and year end filing.
- Carries out review and challenge of the following areas:
- Investment strategy, asset allocation and management.
- ALM and hedging, including changes to ALM modeling and risk profile.
- GAAP and Statutory valuation, with focus on quarterly reserve judgments.
- Capital modeling and economic metrics, including Stress testing and scenario analysis.
- Underwriting with focus on product feature design and reasonableness of pricing assumptions and profitability.
- Outsourcing and operational risks.
- Deep dive reviews on areas of concern as identified by ERM and business management.
- Proactively engage, review and challenge of strategic initiatives and critical business decisions, including development of business plans, strategic transactions and retrocessions.
- Monitors emerging risks and regulatory developments, provide risk management trainings.
- Managing Operational Risk including incident reporting process and ensuring the control environment is both designed and operating effectively, escalate control gaps.
- Supports other ERM activities such as Risk Analytics, Model Validation projects, policies development and PFI risk projects as they relate to the business. Ensure BMA compliant risk management framework is in place.
Required Qualifications:
- Minimum 5 years of (re)insurance experience in Actuarial, Investment, Finance, Audit, Risk or related field, with 2+ years' experience in Risk.
- Strong analytical skills. Qualified actuary or CFA preferred.
- Strong working knowledge of US and/or Japan life insurance product features and risks, strong understanding of reinsurance business.
- Strong knowledge of the Solvency II or Bermuda BSCR solvency capital regime.
- Strong understanding of investment product required.
- General competency related to US and/or Japan insurance pricing and valuation (Statutory, GAAP, and Economic).
- Strong collaborator across functions and effectively influencing stakeholders. Ability and confidence in working independently with process, control and risk owners.
- Efficient and responsive, consistently turning around high-standard work at pace balancing multiple priorities.
- Strong verbal and written communication skills, quick learner with attention to detail.
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Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.
Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services, some of which may not be available in your area.
We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.
Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status , medical condition or any other characteristic protected by law.