Vice President, Captive Manager

About the Role
The Vice President, Captive & ILS Manager is responsible for overseeing the management and operation of a captive and insurance-linked securities (ILS) platform. This platform merges corporate risk financing and capital markets to provide tailored solutions that cater to the needs of clients operating in emerging industries. The ideal candidate will demonstrate strategic thinking, deep technical expertise in insurance, reinsurance, and alternative risk transfer, alongside strong relationship management skills with both insureds and capital providers. They will function as the primary liaison between the organization and its captive clients and ILS investors, while also ensuring compliance with regulatory and business requirements set forth by the Bermuda Monetary Authority (BMA).

What You Will Do
Client & Investor Relationships

• Serve as the main point of contact for clients utilizing captive and cell solutions, as well as for investors and capital partners in the company's ILS vehicles.
• Develop and maintain strong relationships with clients, brokers, ILS fund managers, and other capital providers by understanding their objectives and providing tailored solutions.
• Facilitate regular communication, including updates on captive and cell performance, regulatory compliance, and strategic opportunities for clients, with investor reporting on vehicle performance, loss development, and collateral position for capital providers.
• Support clients in evaluating their risk management strategies and identify ways a captive, cell, or capital markets solution can enhance their overall risk management program.

Captive & ILS Operations

• Oversee the day-to-day operations of captives, segregated cells, and ILS vehicles, including underwriting, claims management, and financial reporting.
• Manage the lifecycle of collateralized reinsurance transactions and ILS vehicles: formation, capital raising/subscription, trust/collateral arrangements, renewals, commutations, and collateral release.
• Coordinate with internal and external stakeholders to ensure timely and accurate completion of financial statements, regulatory filings, and other compliance requirements for all managed vehicles.
• Collaborate with actuaries, modeling agents, auditors, tax advisors, trustees, administrators, and legal counsel to ensure compliance and best practices in operations.
• Develop annual business plans and budgets for captive and ILS entities to align with client, investor, and company objectives.

Governance, Compliance & Risk

• Support interactions with the Bermuda Monetary Authority (BMA) concerning all captive and ILS matters, including licensing and approvals for new vehicles and cells, regulatory filings, and addressing BMA queries.
• Continuously review and implement policies and procedures to remain compliant with local regulations and industry best practices for captives and ILS vehicles.
• Create periodic management metrics/reports focused on key risk indicators (KRIs) and performance indicators (KPIs) to identify, mitigate, and escalate risks and deficiencies.
• Ensure due diligence, KYC, and sanctions screening is performed on clients, cedents, and investors before executing agreements or accepting capital.
• Collaborate with the Product Development team to ensure that captive and ILS solutions align with BMA license conditions.
• Monitor transfers, payment requests, and collateral movements within captive cells and ILS vehicles, escalating any concerning transactions to Compliance.

Structuring & Business Development

• Work with the business development team to promote captive and ILS solutions to prospective clients and investors.
• Provide insights and recommendations on captive formation and structuring options based on client needs and risk profiles.
• Support the structuring of new ILS transactions by preparing term sheets, offering materials, investor presentations, and determining crucial elements such as triggers and collateral mechanisms.
• Identify opportunities to enhance the platform's value for clients and investors, including reinsurance options and portfolio diversification.

Financial Oversight

• Monitor the financial performance of captives and ILS vehicles, securing profitability, adequate reserving, capital adequacy, and full collateralization.
• Oversee premium collection, claims payments, collateral management, and investment activities within captive and ILS structures.
• Supervise loss reserving, trapped collateral evaluations, and calculations for investor returns and net asset values.
• Provide regular financial reports and analysis to clients, investors, and internal stakeholders regarding results and trends.
• Collaborate with the Finance team for timely and accurate financial reporting and annual audits.

Requirements

• Bachelor's degree in Risk Management, Insurance, Finance, Business Administration, or a related field; advanced degrees or designations (MBA, CFA, CPCU, ARM) are advantageous.
• Minimum 7 years of experience in insurance, reinsurance, captive management, or ILS industry.
• Proven capability in leading and managing captive insurance programs and alternative risk transfer solutions.
• Hands-on experience with ILS and collateralized reinsurance in relevant roles such as reinsurer, ILS fund manager, insurance manager, broker, or ILS administrator, including investor reporting.
• Strong understanding of insurance and reinsurance principles, underwriting, and claims processes.
• Knowledge of captive and ILS regulation (including Bermuda framework) and related financial analysis and risk management.
• Excellent interpersonal and relationship management skills for effective communication with diverse stakeholders.
• Strong organizational, project management, problem-solving, analytical, and decision-making skills.
• Proficient in financial reporting and understanding of actuarial principles.
• Demonstrated leadership abilities.

What We Offer

• Full Payroll Tax & Social Insurance Coverage: 100% coverage of payroll tax and social insurance.
• Comprehensive Insurance Plans: 100% coverage for health, dental, and life insurance.
• Generous Pension Contributions: 5% contribution of pensionable earnings.
• Paid Time Off (PTO): 28 days of PTO for vacation, sick leave, or personal time.
• Professional Development Opportunities: Access to training and development programs.
• Travel Benefits: Perks such as commuting and parking benefits.
• Wellness Benefits: Wellness perks, including gym memberships and exercise classes.
• Your Voice Matters: A work environment that values your ideas and opinions.
• Endless Growth Opportunities: Resources to support your career advancement.
• Flexible & Family-Friendly Work Environment: A hybrid work approach supporting work-life balance.