HR753: Prudential Risk and Capital Modelling Specialist | Bermuda

PRUDENTIAL RISK AND CAPITAL MODELLING SPECIALIST – INSURANCE, FUNDS AND CORPORATE AUTHORISATIONS SUPERVISION – BERMUDA – ONLY 10% TAX – HR753

About this opportunity

Our client is seeking the services of a skilled and capable individual to work as a Prudential Risk and Capital Modelling Specialist in our clients Supervision (Insurance, Funds and Corporate Authorisations) Department.

Reporting to the Deputy Director, the Prudential Risk and Capital Modelling Specialist will be responsible for designing and implementing supervisory modelling tools used to challenge company submissions (including Scenario-Based Approach (SBA) models), assessing capital sufficiency, evaluating risk exposures, and conducting independent stress and sensitivity analyses.

This is a key role for the regulator, and the post-holder will be responsible for:

• Asset and Liability Modelling
• Developing and maintaining supervisory models to independently assess insurer reserve adequacy, including SBA submissions
• Performing independent projections of liability cash flows to challenge company assumptions, methodologies, and outputs
• Assessing embedded guarantees, management actions, policyholder behavioral risks, and scenario design
• Developing independent asset projection tools to assess credit risk, spread risk, default behavior, structured asset exposures, and asset-liability interactions
• Evaluating valuation methodologies and asset modelling assumptions used by regulated entities
• Conducting stress-based asset revaluation assessments under supervisory scenarios
• Risk and Capital Modelling
• Developing supervisory capital assessment tools to evaluate solvency resilience under base and stressed conditions
• Independently assessing insurers’ internal capital models and risk aggregation methodologies
• Evaluating correlation assumptions, diversification benefits, and tail risk modelling techniques
• Performing quantitative benchmarking across firms to identify outliers and emerging prudential risks
• Supervisory Stress Testing and Scenario Analysis
• Designing and executing supervisory stress testing exercises across market, credit, insurance, and liquidity risks
• Reviewing and challenging insurer stress testing frameworks and scenario calibration
• Conducting reverse stress testing and independent impact assessments
• Comparing stress results across firms to assess systemic vulnerabilities
• Model Governance and Validation
• Assessing model risk management practices across regulated entities
• Developing supervisory standards for model documentation, validation, and controls
• Performing technical deep dives into insurer model governance frameworks
• Contributing to regulatory guidance on modelling standards and best practices
• Research and Prudential Innovation
• Monitoring emerging quantitative risk modelling techniques
• Enhancing supervisory methodologies in response to market innovation and complex financial instruments
• Supporting policy development through quantitative analysis and technical input into prudential rules
• Representing the regulatory at local, regional, and international meetings, conferences, seminars, and technical working groups involving regulatory peers, government agencies, and industry participants
• Performing other related work and special projects as assigned by management in accordance with competencies normally associated with the post

What you’ll need

• A Master’s degree in actuarial science, quantitative finance, statistics, mathematics, financial engineering, or a related quantitative discipline from a recognized institution or a Bachelor’s degree in one of the above disciplines together with a relevant professional qualification (e.g., actuarial designation or equivalent
• A minimum of ten (10) years of relevant experience of which at least five (5) should be at a senior level in actuarial software design, actuarial modelling, capital modelling, quantitative risk management, financial engineering, or supervisory analytics

Demonstrated experience in:

• Designing modular, well-documented and reproducible modelling frameworks
• Version control (e.g. Git) and structured development practices
• Model validation, benchmarking and challenger design
• Ability to work with large datasets and automate analytical workflows
• Reserve and liability projection modelling
• Capital and solvency modelling
• Building or reviewing stochastic projection models
• Reviewing or validating financial models
• Programming in R, Python, Julia, or similar languages at expert proficiency level
• Working with proprietary actuarial platforms (e.g., Axis, Prophet etc.)
• Applying structured model governance and validation practices
• Experience within a regulatory or supervisory environment is advantageous but not required

How to apply

• To apply, attach your résumé or include a link to your LinkedIn profile
• If you don't provide one of the above, we can't progress your application

For reasons of confidentiality and to ensure best match for positions, our normal practice is to submit applications to employers only after we have had a Career Consultation with candidates. In the event that you are not shortlisted for this particular vacancy, your details will be held on file and considered for other relevant opportunities.

Our clients are equal opportunity employers and value diversity. They do not discriminate on the basis of race, religion, colour, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status. If you believe you deserve an exceptional career, we’ll help make it happen.