Chief Actuary

Our Client is seeking an experienced and forward thinking actuarial leader to serve as Chief Actuary for our rapidly growing Insurance Group (“the Group”). This is a senior leadership position that will report to the Chief Executive Officer.

The incumbent will oversee all actuarial functions, including product pricing, reserving, valuation, model governance, capital and risk analytics, financial reporting support, and regulatory engagement. The role will also focus on critical illness, enhanced disability, disability, and other long‑term insurance products.

The successful candidate, who must be a Fellow in good standing of a recognized actuarial body, will play a key role in shaping and strengthening actuarial governance, supporting enterprise risk management, and advising the CEO and senior leadership on actuarial, financial, and risk‑related matters.

Key Responsibilities

Product Pricing and Development

• Establish and maintain pricing methodologies and assumptions in support of long-term insurance product design, including experience analysis and reserving methodology.
• Perform profitability testing, sensitivity analysis and stress testing on new and existing products.
• Support product design decisions to balance competitiveness and risk appetite. Lead experience studies (lapse, morbidity, mortality, expense) and assumption‑setting processes, ensuring alignment with risk appetite and market conditions.

• Partner with leadership and finance team to support product strategy and long‑term growth initiatives.

Actuarial Valuation and Financial Reporting

• Calculate actuarial liabilities and reserves for the Group’s insurance products, including critical illness, enhanced disability, disability, and other long-term insurance products.
• Prepare actuarial valuation work, reserve analysis, and related financial reporting for statutory, regulatory, and audit purposes.
• Work closely with the Group’s management, finance team, auditors, and other advisers on actuarial matters affecting financial statements, product development, and risk management.
• Prepare actuarial reports, memoranda, opinions, certifications, and other materials as required for management, boards, auditors, regulators, or other stakeholders. Lead actuarial components of capital modelling, solvency monitoring, and ORSA.
• Provide actuarial insight into long‑term financial projections, capital optimization, and strategic planning.

Reinsurance

• Support the design and management of the reinsurance arrangements.
• Provide actuarial input on reinsurance, capital planning, stress testing, and related strategic matters as needed. Evaluate reinsurance structures for capital efficiency, risk transfer effectiveness, and alignment with product strategy.

Governance, Compliance and Professional Standards

• Assist with regulatory engagement and support responses to requests from the Barbados Financial Services Commission or other relevant authorities.
• Establish and maintain actuarial governance, documentation, controls, and model oversight processes appropriate for the Group’s business.
• Serve in a senior actuarial leadership capacity for the Group and, if applicable and approved, act as appointed actuary or support the appointed actuary function. Implement a formal model risk management framework, including model validation, documentation standards, and independent review processes.
• Ensure compliance with actuarial standards of practice and contribute to Board‑level reporting and education on actuarial and risk matters.

Qualifications and Professional Requirements

• Fellow in good standing of an internationally recognized actuarial body (e.g. Institute and Faculty of Actuaries (IFoA), Society of Actuaries (SOA), or equivalent).
• Meaningful post-qualification experience in long-term insurance pricing, valuation, reserving, or financial reporting.
• The ability to satisfy applicable fit and proper, immigration, work permit, or other regulatory requirements relevant to the role in Barbados.

Experience and Technical Skills

• At least 8 years of relevant actuarial experience in life, health, disability, critical illness, accident and sickness, or other long-term insurance business.
• Significant experience in pricing, valuation or reserving, and actuarial support for financial reporting, audit, and regulatory matters.
• Strong actuarial modelling and analytical capabilities, including experience with appropriate modelling, spreadsheet, or statistical tools.
• Experience working with auditors, senior management, boards, and/or insurance regulators on actuarial issues, including actuarial reporting frameworks applicable to insurance business.
• Experience with capital modelling, solvency frameworks, ORSA, and enterprise risk management is an asset.

Key Competencies

• Strong judgment, communication skills, and the ability to operate both strategically and hands-on in a growing insurance group.
• Ability to influence senior stakeholders and communicate complex actuarial concepts to non‑technical audiences.
• Capability to build and develop a high‑performing actuarial function.
• Attention to detail and strong governance mindset.

The following would be an advantage, but are not required

• Prior experience serving as an appointed actuary, signing actuary, valuation actuary, chief actuary, or other senior actuarial lead.
• Experience with disability, critical illness, living benefits, or other morbidity-driven insurance products.
• Experience working with emerging, growth-stage, or internationally oriented insurance businesses.
• Experience in international insurance regulatory environments.
• Experience with actuarial systems modernization, data governance, or predictive analytics.

Compensation and Benefits

The Group recognizes that credentialled, senior actuarial professionals, particularly those with Fellowship standing and relevant long-term insurance experience, represent a specialized and globally competitive talent pool. Compensation for this role is structured accordingly and will include:

• A competitive base salary benchmarked against senior actuarial roles in the life, health, and disability insurance sector.
• An annual performance-related bonus as part of the total compensation package. The bonus will be linked to a combination of individual performance objectives and group-level results and is intended to be meaningful relative to base salary for a role at this level.

Full compensation details will be discussed with shortlisted candidates. The Group is genuinely open to creative structuring, including relocation, consulting or contracted arrangements, for the right candidate.