Principal – Insurance Intermediaries 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 a Principal – Insurance Intermediaries in our Supervision (Insurance, Funds and Corporate Authorisations) Department. Reporting to the Assistant Director, the Principal – Insurance Intermediaries will be responsible for directing a team of professionals responsible for the risk-based prudential and conduct supervision and regulation of insurance intermediaries, including insurance managers, brokers, agents and other registrants, in accordance with the Insurance Act 1978 and related rules, regulations, codes and guidance.

• Leading a multi-disciplinary team of professionals in the on-site and off-site supervision of insurance intermediaries, including insurance managers, brokers, agents and other registrants
• Undertaking risk-based analysis of regulated entities to determine supervisory priorities, annual supervisory plans and the appropriate scope and intensity of supervisory activities
• Overseeing regulatory reviews, compliance assessments and other supervisory work, and ensuring that findings, recommendations and proposed courses of action are clear, proportionate and supported by appropriate analysis
• Monitoring regulated entities’ remediation of supervisory findings and breaches, escalating material concerns and recommending appropriate regulatory action where necessary
• Reviewing licensing, registration and other regulatory applications relating to insurance intermediaries and ensuring that recommendations are timely, consistent and risk-based
• Applying appropriate risk-based methodologies when allocating supervisory resources and ensuring that the team meets agreed supervisory objectives and service standards
• Identifying sector trends, emerging risks and opportunities to enhance the supervisory framework, improve regulatory effectiveness and reduce unnecessary regulatory burden
• Contributing, as required, to the development and implementation of regulatory policy, legislation, rules, codes and guidance relevant to insurance intermediaries
• Managing, coaching and developing direct reports by setting clear expectations, monitoring performance, conducting appraisals and identifying appropriate training, project and on-the-job development opportunities
• Liaising with industry bodies, regulated entities, government agencies and overseas supervisory and regulatory authorities, and supporting effective cross-functional collaboration within the Authority
• Representing the Authority in committees, working groups and at local and international meetings, seminars, conferences and industry forums
• Performing other related work and special projects as assigned by management in accordance with competencies normally associated with the post

• A master’s degree in business, finance, accounting, insurance, law or a related discipline, or an equivalent qualification from a recognised institution or professional body; or a bachelor’s degree in a related discipline together with a relevant professional designation such as Chartered Accountant, Certified Public Accountant, Chartered Financial Analyst, Associate of Chartered Insurance Institute, Chartered Property Casualty Underwriter or an equivalent qualification
• A minimum of seven (7) years of postgraduate experience, of which at least three (3) years should be at a senior level within a financial services regulator, insurance intermediary, insurer, audit or other relevant financial services environment
• Relevant experience in the insurance sector, preferably involving insurance management, broking, agency business or the supervision of insurance intermediaries
• A sound understanding of financial analysis, risk management, corporate governance, conduct risk and regulatory compliance, together with strong knowledge of insurance regulation, risk-based supervision and the Bermuda insurance market
• The ability to interpret and apply legislation, rules, regulations, codes, guidance and other technical material, with working knowledge of relevant international regulatory standards and developments affecting insurance intermediaries
• Experience conducting regulatory inspections, supervisory reviews, investigations, forensic examinations or comparable assurance work would be an asset
• Strong leadership, mentoring and supervisory skills, with a demonstrated ability to set direction, manage performance and develop staff
• Exceptional analytical, problem-solving and decision-making skills, with strong attention to detail and accuracy
• Strong written, oral and interpersonal communication skills, with the confidence to engage effectively with boards, senior management, staff, registrants and other stakeholders
• Strategic thinking and the ability to assess emerging risks and market developments, manage competing priorities and meet deadlines in a fast-paced environment
• A demonstrated ability to organise and manage workloads, balance competing priorities and meet deadlines in a fast-paced environment
• Working knowledge of computerised systems and databases, particularly Microsoft Office
• General knowledge of developments in the financial services industry, including InsurTech, FinTech, SupTech and other digital applications

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/vacancies. Applications for this position must be received no later than 14 October 2026.

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

Professionalism, Integrity, Accountability, Adaptability, Collaboration