At a Glance
- Tasks: Lead the risk function and drive business growth in a dynamic reinsurance environment.
- Company: Join Gibraltar Re and Lotus Re, innovative life reinsurance companies based in Bermuda.
- Benefits: Competitive salary, professional development, and the chance to shape risk governance.
- Other info: Opportunity to work in a lean, growing organisation with a strong risk culture.
- Why this job: Make a significant impact on risk management and engage with top-level executives.
- Qualifications: 10-15+ years in life insurance or reinsurance with strong risk management skills.
The predicted salary is between 150000 - 225000 £ per year.
This position is located in Bermuda. Gibraltar Reinsurance Company Ltd. (Gibraltar Re) and Lotus Reinsurance Company Ltd. (Lotus Re) are seeking a Chief Risk Officer (CRO) to lead the risk function and support the businesses’ continued growth. Gibraltar Re and Lotus Re are Bermuda-based life reinsurance companies that have successfully transitioned from startup to a more established operating model. Over the past two years, we have expanded our team and executed key transactions, and we are further evolving our risk governance and reporting to support our next phase of growth.
As Chief Risk Officer, you will lead the risk function, provide independent challenge, and help drive the businesses forward. The role reports to the President, with direct and unfettered access to the Board and Board Risk Committee. This is a senior control-function position with direct responsibility for regulatory credibility. The CRO will engage regularly with the Board of Directors, Board Risk Committees, senior management and the Bermuda Monetary Authority, exercising independent judgement while acting as a constructive partner to the business.
Primary responsibilities include, but are not limited to:
- Maintain and continuously enhance the Enterprise Risk Management framework
- Develop and monitor the risk appetite framework, including limits, metrics and escalation thresholds
- Oversee and challenge risks arising from reinsurance activities, including credit, market, liquidity, concentration, counterparty and operational risk
- Provide independent risk oversight of asset strategy, ALM and liquidity management, working closely with Investment, Actuarial and Finance functions
- Lead the CISSA process, ensuring alignment between strategy, capital planning and risk profile
- Provide oversight and challenge of regulatory capital and solvency frameworks, including BSCR, EBS and SBA
- Review and challenge risk components of regulatory filings, including CISSA submissions and business plans
- Act as a primary risk interface with the Bermuda Monetary Authority, supporting open, credible and proactive regulatory engagement
- Oversee insurance and actuarial risks, including mortality/longevity, policyholder behaviour, product design and reinsurance structures
- Review and challenge actuarial assumptions and model outputs from an independent risk perspective
- Oversee stress testing and scenario analysis across capital, liquidity, assets and insurance risks
- Deliver clear, concise and decision relevant risk reporting to the Board and Board Risk Committees
- Promote a strong, proportionate risk culture across a lean and growing organisation
Skills, Experience and Role Requirements:
- 10–15+ years’ experience in life insurance or life reinsurance, with a background in risk management, actuarial, investments or finance
- Strong understanding of the Bermuda long term insurance regulatory framework, including BSCR, EBS, SBA and CISSA
- Direct experience with asset intensive, ALM driven balance sheets and reinsurance structures
- Demonstrated ability to operate credibly at Board and regulator facing level
- Professional qualifications such as FSA, CERA, CFA, FRM, FIA or equivalent
- Sound commercial judgement, independence of thought and the confidence to challenge constructively
- Strong communication skills, with the ability to articulate complex risk issues clearly and proportionately
Vice President, Chief Risk Officer in Hamilton employer: Prudential Annuities Distributors (PAD)
Gibraltar Re and Lotus Re are exceptional employers located in the beautiful setting of Bermuda, offering a dynamic work culture that fosters collaboration and innovation. As a Vice President, Chief Risk Officer, you will have the opportunity to lead a critical function within a growing organisation, with direct access to the Board and ample opportunities for professional development. The company prioritises a strong risk culture and provides a supportive environment for employees to thrive while contributing to the success of the business.
Contact Details:
Prudential Annuities Distributors (PAD) Recruitment Team
StudySmarter Expert Advice🤫
We think this is how you could land Vice President, Chief Risk Officer in Hamilton
✨Network Like a Pro
Get out there and connect with people in the industry! Attend events, join online forums, and don’t be shy about reaching out to current employees at Gibraltar Re or Lotus Re. We all know that sometimes it’s not just what you know, but who you know that can help you land that dream job.
✨Ace the Informational Interview
If you can, set up informational interviews with professionals in risk management or reinsurance. This is your chance to learn more about the role and the company culture while also making a great impression. We recommend asking insightful questions that show you’re genuinely interested in their work and the industry.
✨Showcase Your Expertise
When you get the chance to chat with hiring managers or during interviews, make sure to highlight your experience in risk management and your understanding of the Bermuda regulatory framework. We want to see how your skills align with the needs of the Chief Risk Officer role, so don’t hold back!
✨Apply Through Our Website
Don’t forget to apply directly through our website! It’s the best way to ensure your application gets seen by the right people. Plus, we love seeing candidates who take the initiative to engage with us directly. Let’s make this happen together!
We think you need these skills to ace Vice President, Chief Risk Officer in Hamilton
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Chief Risk Officer role. Highlight your experience in risk management, especially in life insurance or reinsurance. We want to see how your background aligns with our needs!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're the perfect fit for the role and how you can contribute to our growth at Gibraltar Re and Lotus Re. Keep it concise but impactful.
Showcase Your Skills:Don’t forget to showcase your skills that match the job description. Whether it's your understanding of regulatory frameworks or your ability to communicate complex risk issues, we want to see it all!
Apply Through Our Website:We encourage you to apply through our website for a smoother application process. It’s the best way for us to receive your application and get you on the path to joining our team!
How to prepare for a job interview at Prudential Annuities Distributors (PAD)
✨Know Your Risk Frameworks
Make sure you’re well-versed in the Enterprise Risk Management framework and the Bermuda long-term insurance regulatory framework. Brush up on BSCR, EBS, SBA, and CISSA, as these will likely come up during your interview.
✨Showcase Your Experience
With 10–15+ years in life insurance or reinsurance, be ready to discuss specific examples of how you've managed risks in previous roles. Highlight your experience with asset-intensive balance sheets and how you've successfully navigated regulatory challenges.
✨Communicate Clearly
Strong communication skills are a must for this role. Practice articulating complex risk issues in a clear and concise manner. You might even want to prepare a few scenarios where you had to explain intricate concepts to non-experts.
✨Demonstrate Independent Judgement
The CRO role requires independent judgement and the ability to challenge constructively. Be prepared to discuss situations where you’ve had to make tough decisions or push back against management while maintaining a collaborative approach.
