Vice President, Chief Risk Officer

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