Principal – Insurance Intermediaries Supervision (Insurance, Funds and Corporate Authorisations) Department

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.
This is a key role for the Authority and the postholder will be
responsible for but not limited to:
• 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
This position requires a proven technical and business background.
Therefore, the post-holder must have:
• 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 09 October 2026.
Bermuda Monetary Authority is an Equal Opportunity Employer
BMA House | 43 Victoria Street, Hamilton HM 12 | careers@bma.bm |
(441) 295 5278
Professionalism, Integrity, Accountability, Adaptability, Collaboration