Risk Director

About the role

The Enterprise Risk Management team at Everest Group has a requirement for a Risk Capital Modelling Director with experience in Bermuda Regulation. The role supports analytics across consolidating entities (Group, US and Bermuda) and works with various stakeholders.

Role & Responsibilities

• Reviews of Regulatory Capital Calculations
• Conducts reviews of BSCR calculations for Group and US entities to support effective challenge of the first line.
• Maintains and enhances BSCR calculation tools (Excel, actuarial software, internal models) for accuracy and efficiency.
• Implements BMA rules and guidance into processes and modelling solutions.
• Analyzes changes in regulatory capital and BSCR ratio over time, considering underwriting, reserving, market, credit, and operational risks.
• Delivers comprehensive analysis and insights on capital adequacy to inform business planning, determine risk appetite, and facilitate strategic decision-making.
• Conducts or supports capital impact assessments across multiple scenarios and stress tests involving new products, business lines, or reinsurance structures.
• Explores capital optimization, including refining reinsurance strategies, legal entity structures, and intra-group transactions.
• Engages collaboratively with Risk Management, Finance, Actuarial and Investments teams to ensure alignment between regulatory capital, economic capital, ORSA/ERM frameworks like risk appetite and stress testing activities.
• Effectively communicates complex regulatory capital concepts to non-actuarial stakeholders, such as senior management, in a clear and concise manner.
• Facilitates training and knowledge transfer within actuarial and risk teams regarding BMA capital requirements and associated topics.
• Designs and maintains robust controls around the end-to-end BSCR process, including data validation, peer review, and sign-off procedures.
• Produces and maintains clear documentation for assumptions, methods, and limitations, including process maps and user guides for the capital calculation tools, governance frameworks and control checklists.
• Develops and refines actuarial methodologies underlying BSCR calculations, such as Stress and scenario testing, aggregation of risks (correlation/matrix structures), parametrization (assumption development) of general insurance underwriting, market, credit, CAT (natural and man-made) and other risks (including Climate, Cyber and Mortgage) where relevant.
• Ensures actuarial models and tools comply with internal model governance standards, including documentation, version control, and validation protocols.

Qualifications & Experience

• Near-qualified or fully qualified actuary preferred (e.g., FIA, FSA, FCIA, FCAS, FIAA, AIA, ASA, ACIA, ACAS, AIAA, or equivalent).
• Bachelor’s or Master’s degree in Actuarial Science, Mathematics, Statistics, Finance, Economics, or a related quantitative discipline.
• 10+ years of actuarial experience in P&C (re)insurance.
• 5+ years of direct, hands-on experience with Bermuda regulatory capital calculations, including BSCR, is strongly preferred.
• Familiarity with other regulatory regimes (e.g., Solvency II, US RBC, ICS) and ability to compare frameworks, including experience with ORSA or similar enterprise risk management frameworks.
• Experience interacting with regulators, auditors or rating agencies is preferred.

Pay

The base salary range for this position is $116,000 - $150,000 annually. The offered rate of compensation will be based on individual education, experience, qualifications and work location.

Schedule

This role is open to locations in Bermuda, New York City, London, Dublin or Warren, NJ.