Manager, Insurance

Manager, Insurance

INSURANCE MANAGER 
FIXED TERM CONTRACT 

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

We seek to recruit individuals who are driven, results-oriented, and have a passion for providing excellent service. The FSC has an immediate opening for the position of Insurance Manager in the Insurance 
Division. 

SUMMARY OF RESPONSIBILITIES 
Reporting to the Senior Director, Insurance, the Manager will evaluate the financial health and risk exposures of the insurance industry which includes insurance companies, intermediaries, association of underwriters, 
sales representatives and insurance services providers. The Manager, Insurance will also review statistical, industry and economic outlook papers, analytical reports, briefing memoranda and correspondence and 
monitors entities under enhanced supervision. 

MAJOR ACCOUNTABILITIES 
▪ Lead the development, implementation and subsequent monitoring of all aspects of reinsurance 
▪ Ensure effective monitoring of the operating activities and financial health of insurance companies and brokers in order to protect the public’s interest. 
▪ Identify where potential financial problems and statutory compliance are identified in insurance companies and intermediaries assists in determining appropriate action to be taken to correct the problems and direct FSC’s programs to accomplish this. 
▪ Evaluate filings and applications for compliance with statutory/regulatory requirements by utilizing a balanced and informed exercise of statutory discretion and recommend action by appropriate FSC areas to correct non-compliance. 
▪ Provide the FSC with continuing expertise and information on developments with respect to legislative policy and problems; and concerns and issues arising from the insurance sector. 
▪ Conduct continuing research on regulatory practices in other jurisdiction as well as new developments in regulatory techniques. 
▪ Liaise with regulatory and professional bodies to achieve the objectives of the FSC. 
▪ Compile and write examination reports and recommendations, and discuss with management, audit committees, and directors of financial institutions. 
▪ Monitor and evaluate the department’s performance against its balanced scorecard targets and develop and execute the necessary interventions on a timely basis. 
▪ Make recommendations to the Senior Director on decisions required to correct irregularities or reduce risk, which can result in revocation or refusal of an insurance licence, or intermediary registration. 

QUALIFICATIONS AND EXPERIENCE 
• MSc. in Finance, Economics, Actuarial Science, Statistics, Mathematics or similar fields of study. 
• Professional certification and or designations, such as a CFA, FRM, PRM, ASA or FSA. 
• The job requires at least 5 years’ experience relevant work experience in a comparable position and business/work environment such as: an insurance, pension or securities regulation institution, an insurance company or a banking operation.