Senior Actuarial Associate, Reporting

Black6; Hamilton; On-site; GBP 60,000 - 80,000; Full time

Job summary

A Bermuda-based service provider is seeking a Senior Actuarial Associate to support financial and regulatory reporting. The ideal candidate will have a Bachelor's degree in Actuarial Science and 3-5 years' experience in a (re)insurance company. Responsibilities include supporting GAAP reserves, conducting experience analysis, and enhancing operational efficiency. This is a full-time position located in the United Kingdom, offering competitive benefits.

Qualifications

• 3-5 years of relevant actuarial experience in life/annuity (re)insurance.
• Experience with US GAAP, US Stat, Bermuda EBS and BSCR.
• Strong knowledge of annuities and life products is an advantage.

Responsibilities

• Support end-to-end production of quarterly and year-end US GAAP reserves.
• Conduct actual-to-expected experience analysis for inforce treaties.
• Produce and analyze monthly US Stat reserves for Third Party cedant.

Skills

Analytical skills

Communication skills

Attention to detail

Interpersonal skills

Education

Bachelor’s degree in Actuarial Science

ASA designation or equivalent

Job description

Kuvare Services Bermuda Ltd. (“KSB”), a Bermuda-based service provider to affiliated and regulated Bermuda-domiciled long-term reinsurers, is seeking a Senior Actuarial Associate, Reporting to support KSB’s continued growth. Reporting to the Director, Actuary, the successful candidate will play a critical role in delivering timely results and analysis supporting financial and regulatory reporting within the Valuation team and support other functions within KSB.

Key Duties and Responsibilities

• Performing numerous tasks for valuation, inforce management, capital and business planning, risk, and investments, which include but are not limited to:
• Supporting the end-to-end production, analysis and explanation/attribution of KSB’s quarterly and year-end US GAAP reserves and balances, Bermuda EBS Technical Provisions and BSCR, and contribution to regulatory submissions to the BMA e.g., Capital & Solvency Return, Financial Condition Report, CISSA, and other sensitivities/stress-tests as required for regulatory filings and applications.
• Supporting Kuvare’s LDTI implementation for its Bermuda entities including conducting parallel runs, analyzing and explaining results and impacts under LDTI vs current GAAP, documenting and implementing new processes, controls and workflows required for production.
• Producing and analyzing monthly US Stat reserves for Third Party cedant.
• Supporting the execution of the business plan through the development of new models, assumptions, methodology, and processes, along with the continuous enhancement of procedures and controls by automating workflows and increasing operational and reporting efficiency.
• Conducting actual-to-expected experience analysis, monitoring and evaluating the performance of inforce treaties against pricing and supporting the development and implementation of new assumptions.
• Supporting the year end GAAP audit and Approved Actuary processes by responding to questions and requests for additional data/analysis.
• Ability to keep abreast of industry developments, financial reporting, and regulatory market trends and interpret new requirements and standards affecting GAAP, Stat, and EBS bases.
• Demonstrate a continued desire to learn and develop technical skills and knowledge as a key member of the Valuation Reporting team.
• Technical, analytical, and lateral thinking individual with an eye for detail to prioritize and meet strict deadlines to support reporting and ad hoc tasks as they arise.

Minimum Qualifications and Experience:

• Bachelor’s degree in Actuarial Science, Mathematics, Finance, Risk Management, or similar.
• ASA designation or equivalent.
• Demonstrate a minimum of 3-5 years’ relevant actuarial experience, working directly for a life/annuity (re)insurance company or consulting organization.
• Experience with US GAAP, US Stat, Bermuda EBS and BSCR, RBC, and/or Solvency II.
• Working knowledge of annuities (FDAs, FIAs, PAs) and life products is an advantage.
• Working knowledge of insurance company investments.
• Strong interpersonal and communication skills both written and oral.
• Exhibits self-motivation and takes initiative.
• Inquisitive approach and willingness to challenge the status quo.
• Willingness and capacity to work overtime, including evenings, weekends, and public holidays, and on short notice when needed to meet time-sensitive tasks.

Kuvare is an equal-opportunity employer that makes hiring decisions based on merit, qualifications, and business needs. 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 the performance of essential job functions. We encourage all qualified candidates to apply.