HR134: Actuarial Associate, Life & Annuity | Bermuda

Job description

ACTUARIAL ASSOCIATE – LIFE & ANNUITY – BERMUDA – 10% TAX – HR134 About this opportunity Our client is a newly established insurance management platform specializing in the life and annuity sector, providing investment, risk, and capital management services to insurance companies. Backed by a leading global institutional investment firm, the organization is focused on delivering innovative, high-quality reinsurance solutions to life insurance providers. This is a unique opportunity to join a growing actuarial team at an early stage and play a key role in shaping its development, processes, and technical capabilities. The Actuarial Associate will be a key individual contributor within the actuarial team, responsible for the development, management, and maintenance of actuarial models. Reporting to the Chief Actuary, this position is accountable for ensuring the accuracy and quality of model outputs supporting profitability monitoring, reserving, and new business transactions. This is a hands-on technical role suited to an actuary who can independently lead significant model development initiatives, work effectively with minimal supervision, and deliver high-quality results in a dynamic, fast-paced environment. Key responsibilities: Develop, manage, and maintain actuarial models in GGY AXIS supporting profitability surveillance, reserving, and cash flow testing across annuity and life reinsurance products Drive significant model buildout with high accountability for accuracy, documentation, and version control Support the pricing of new reinsurance transactions under the direction of the Chief Actuary Contribute to recurring FP&A projections of in-force business, integrating liability and asset analytics Support asset-liability management (ALM) analytics, including the preparation of inputs and outputs for duration, cash flow, and scenario-based analyses Assist in the preparation of US Statutory and GAAP reserve calculations and supporting documentation Contribute to reserve validation and treaty compliance monitoring processes Perform experience studies and analyse cedant data to identify emerging trends and inform assumption updates Support data ingestion, validation, and quality assurance processes for new and in-force cedant relationships Contribute to the development of automated actuarial workflows and reporting tools using Python, VBA, or other scripting tools Prepare clear, well-documented work products suitable for review by senior actuaries and external auditors What you’ll need Associate of the Society of Actuaries (ASA) or equivalent designation from a recognised actuarial body Minimum three years of actuarial experience in the life insurance, annuity, or life reinsurance industry Prior experience with GGY AXIS or comparable actuarial modelling software (e.g., MG-ALFA), including model construction, assumption setting, and output validation Working knowledge of life and annuity reserving concepts, including US Statutory and GAAP frameworks Strong Excel skills, including complex formula construction, scenario modelling, and structured workbook design Demonstrated ability to independently drive model development with high individual accountability for accuracy and quality Strong analytical and quantitative skills with a high degree of attention to detail Entrepreneurial orientation and growth mindset; energised by working in a fast-growing, build-phase environment Proficiency in at least one of: Python, VBA, or SQL Clear written and verbal communication skills; ability to document and explain actuarial work to both technical and non-technical audiences Experience with multi-year guaranteed annuities (MYGAs) and fixed indexed annuities (FIAs), including an understanding of option budgets and index crediting strategies Familiarity with reinsurance treaty structures and associated financial reporting Familiarity with Bermuda regulatory frameworks, including Bermuda Economic Balance Sheet (EBS) and BSCR 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. 👉 Not for you? Refer a friend to apply and we'll reward you with a referral bonus upon successful placement 👉 Share a job Tell us about a new job vacancy in Bermuda, BVI or the Cayman Islands