Insurance Analyst

Insurance Analyst

Insurance Analyst (Fixed-Term Contract)

About the FSC:

The Financial Services Commission (FSC) is an integrated Financial Services regulator. Our mission is to regulate and supervise the Securities, Insurance and Private Pensions industries for the protection of their users thereby enhancing public confidence through the efforts of a competent workforce. 

We are seeking individuals who are self-directed, results-oriented, and have a passion for providing excellent service.

The FSC has an immediate opening for the position of Insurance Analyst.

Position Summary:

The job holder has the responsibility to perform complex economic and insurance-related research work, analyses insurance issues and policies, and assists in the preparation of reports that assess the impact on the economic and fiscal conditions of the market. He/she develops a comprehensive knowledge base of the insurance market for quantifying current conditions and forecasting future trends and exercises considerable latitude in varying methods and procedures to achieve desired results. The job holder also employs mathematical formulae and refined analyses to emphasize important aspects or implications of each study.

Key Responsibilities:

• Prepare statistical data in response to requests from other regulators and related agencies.
• Work with systems department to develop new programs to meet the needs of the insurance division.
• Analyse investment and lending policy submissions of insurance companies to ensure compliance with statutory requirements.
• Analyse Actuarial Reports for reasonableness and compliance with statutory and regulatory requirements.
• Identify potential financial problems and statutory compliance issues in insurance entities and advise the Senior Analyst, Insurance.
• Analyze a variety of reports and applications for compliance with statutory and regulatory requirements and recommend action to the Senior Analyst, Insurance / Insurance Manager.
• Ensure by direct analysis of submitted reports that the insurance companies adhere to communicated rules and regulations with respect to investment, management conduct, accounting and corporate governance.
• Assess the operation of insurance companies and analyze the business risks inherent in the operations through on-site examinations of the companies.

Education, Knowledge and Skills:

• First degree in accounting, business administration, actuarial or finance, or an accounting designation such as a certified or chartered accountant.
• Knowledge of the relevant Acts relating to the industries regulated and supervised by the FSC.
• The job requires at least 3 years relevant work experience in a comparable position and business/work environment such as: an insurance or pension regulation institutions and financial and allied service operations.