Insurance Innovation Specialist, Supervision (Insurance, Funds and Corporate Authorisations) Department

Insurance Innovation Specialist
Supervision (Insurance, Funds and Corporate Authorisations) Department

The Bermuda Monetary Authority (Authority or BMA) is seeking the services of a skilled and capable individual to work as an Insurance Innovation Specialist in our Supervision (Insurance, Funds and Corporate Authorisations) Department. Reporting to the Director, the Insurance Innovation Specialist will serve as a visionary leader, shaping the future of regulatory supervision through strategic foresight, digital innovation, and transformative leadership. This role will not only champion innovation, but also architect a paradigm shift in how supervision is conceptualised and executed—moving from reactive oversight to proactive, intelligence-driven regulation.

This is a key role for the Authority and the post-holder will be responsible for, but not limited to:

• Leading the modelling and continuous engineering of existing supervisory processes to enhance efficiency and effectiveness by participating in supervision activities on a day-to-day basis and regularly reviewing, assessing, and optimising the Department’s supervisory processes
• Leading the development and implementation of Supervisory Technology (SupTech) to leverage technology and data to improve the efficiency, effectiveness, and timeliness of regulatory processes and supervisory capabilities
• Modelling complex transactions, including sensitivity analysis, stress testing and assessment of financial soundness indicators, whilst also managing a Team of risk analysts to ensure accuracy and reconciliation of numbers and appropriate techniques
• Performing on-site examinations and financial reviews of financial statements and returns, including risk exposure and probable maximum loss, risk management strategies, capital adequacy, governance and other relevant sources of information for both insurance legal entities and insurance groups
• Building scalable life (re)insurance analytic capabilities and enabling informed insight and supporting Regulatory and Operational Teams
• Providing training to the Department on developed SupTech tools, life (re)insurance trends, drivers and emerging themes
• Engaging with the Policy Department and other departments within the Authority as needed, with the continuous improvement of the framework, with respect to new, proposed, or revised legislation, regulations, policies, procedures and guidance in the execution of regulation
• Performing other related work and special projects as assigned by management in accordance with competencies associated with the post

This position requires a proven technical and business background. Therefore, the post-holder must have:

• A master’s degree in a financial or actuarial discipline (i.e., applied mathematics, financial statistics, engineering or physics), or related field or a bachelor’s degree in a financial or actuarial discipline (i.e., applied mathematics, financial statistics, engineering or physics), or related field, plus Microsoft Certified Power Platform certifications
• A professional actuarial designation or demonstrated success towards actuarial exams with an internationally recognised actuarial society such as FSA, FIA, FFA, FCIA or CERA
• Minimum of seven (7) years relevant experience of which at least three (3) years should be at a senior level within the insurance industry, acquiring knowledge related to solvency risks arising from life products and/or within a financial services regulator
• Experience in performing technical reviews, processing technically challenging applications and analysis of complex commercial or technical areas of insurance entities
• Understanding of the key pillars of risk-based supervision, such as economic balance sheet, standard formula, internal capital model, own risk and solvency assessment (ORSA), Bermuda solvency capital requirement (BSCR), stress tests, including asset-liability management, cash flow and solvency stress tests
• In-depth understanding of the Bermuda supervisory framework relating to supervisory colleges, on-site inspections, governance, risk management techniques and solvency approaches
• Knowledge and experience with the BMA’s regulatory and supervision processes and understanding interaction with the relevant legislation and regulations associated with supervisory mandate
• Demonstrated experience in developing and deploying Power Apps, Power Pages websites, Power Automate and SharePoint Sites as a “citizen-/user-developer” to create, modify, and deploy applications that meet unique business needs
• Demonstrated domain expertise and hands-on experience as a user (not just a developer) of real-world business processes within the insurance industry
• Demonstrated experience in applying real-world experience in financial services regulatory experience to create, modify, and deploy workflow solutions leveraging low-code/no-code platforms such as Power Apps
• Demonstrated experience (as a user-developer) in working with professional developers to deliver customised IT applications that cause technology to seamlessly adapt to unique business processes and workflows
• Demonstrated experience in using insurance or supervisory-specific domain expertise, combined with working with professional developers, to create custom apps, workflows, and dashboards quickly, enabling businesses to respond to business needs faster than traditional development cycles. Examples include automating repetitive tasks, building data visualisations, or integrating tools
• Experience in using low-code/no-code power app platforms to enable businesses to transform traditional mission-critical spreadsheets (which play a key role in workflow management and decision-making) into more formal, scalable, and secure applications, providing enhanced value and reliability to the organisation
• Experience in working with specialised employees and business owners who have in-depth process knowledge to directly translate that expertise into concrete business solutions, ensuring critical business insights are preserved (documented and governed) and applied
• Demonstrated experience in project management with a focus on planning, project leadership and risk and issue management
• Strong organisational skills and the ability to prioritise multiple tasks, projects and assignments using effective time management skills
• Working knowledge of licensed Bermuda entities’ operations
• Knowledge and experience with the Authority’s licensing and supervision processes and with the range of legislation and regulations associated with supervisory mandate
• Demonstrate experience and understanding of business processes and finding ways of supporting and improving business efficiencies through leveraging no-code/low-code software power app solutions to deliver applications, automate workflows, and solve business problems

The Bermuda Monetary Authority is the integrated regulator of Bermuda’s financial services sector. We offer the opportunity for broad exposure to international regulatory issues, special projects and a variety of work experiences.

If you are looking for a challenging opportunity in a team environment, we invite you to submit your application online via our ‘Careers at BMA’ page on www.bma.bm. Applications for this position must be received no later than 5 May 2026.

Bermuda Monetary Authority is an Equal Opportunity Employer

BMA House | 43 Victoria Street, Hamilton HM 12 | Email: careers@bma.bm | Tel: (441) 295 5278

Individual Excellence, Collective Strength