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Chief Risk Officer - Gib & Lotus Re
Chief Risk Officer - Gib & Lotus Re-September 2024
Hamilton
Sep 20, 2024
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About Chief Risk Officer - Gib & Lotus Re

  About the Companies

  Lotus Reinsurance Company Ltd., ("Lotus Re") is a wholly-owned subsidiary of Prudential International Insurance Holdings, Ltd. ("PIIH"), which in turn is a direct wholly-owned subsidiary of Prudential Financial, Inc. ("PFI" or "Prudential"), a United States of America ("U.S.") Corporation. Lotus Re was incorporated as a Bermuda exempted company on August 5, 2021 and licensed as a Class E insurer by the Bermuda Monetary Authority ("BMA"), under the Bermuda Insurance Act of 1978 (the "Act"), on September 29, 2021. Lotus Re is primarily focused on reinsurance agreements with affiliated Prudential operations domiciled in the U.S. and currently has approximately $1.2 billion in total assets as of December 31, 2022.

  Gibraltar Reinsurance Company Ltd., ("Gibraltar Re") is also wholly-owned subsidiary of PIIH. Gibraltar Re was incorporated as a Bermuda exempted company on August 31, 2018 and licensed as a Class E insurer by the BMA, under the Act, on October 12, 2018. Gibraltar Re is primarily focused on reinsurance agreements with affiliated Prudential operations domiciled in Japan of Japanese yen denominated business and certain new U.S. dollar denominated business and has periodically reviewed limited external transactions. Gibraltar Re currently has approximately $11.5 billion of assets as of December 31, 2022.

  Prudential is a multinational financial services leader with operations in the United States, Asia, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise, and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services. For more information, please visit www.prudential.com.

  This executive will report to Chief Financial Officer of Lotus Re and Gibraltar Re.

  This position will be located in Bermuda.

  Responsibilities:

  Lead risk management activities for Gibraltar Re and Lotus Re, including management of investment risk, market risk, liquidity risk, insurance risk, model risk, operational risk, and oversight of assumption development.Oversee and support day-to-day risk management objectives of the entities in consultation with PFI's Enterprise Risk Management (ERM) DepartmentWork closely with PFI ERM resources provided on a contractual/consultative basis to inform decision-makingSet and maintain the risk management policies for both entities, taking into account ERM processes, priorities, and guidance to ensure alignment with PFI's Risk Appetite Framework (RAF) and risk management objectivesDrive continued operational risk improvements with ceding companies and service providers to improve risk condition of reinsurance entitiesProvide risk management due diligence needs for all potential reinsurance transactions.Analyze impact of current and proposed changes to regulations and capital standards for BermudaEngage with Bermuda Monetary Authority and act as an advocate for prudent oversight and regulation as it relates to Prudential's reinsurance businesses in BermudaParticipate in industry discussion and dialogue with peers to assess emerging risks, strategic risks, and a prospective view of risk management items impacting global markets.Provide independent challenge and oversight on the use of the scenario-based approach, and provide attestation thereof as required by the regulatorWork with multiple PFI teams including Finance, Treasury, Tax, Investments, Internal Audit, and actuarial teams of Prudential's international and U.S. operationsMember of the Board of Directors of both Lotus Re and Gibraltar ReChair the Risk Committee of the Board of Directors for both companies, managing the agenda, materials, and presenters to provide transparency to the Board on key risk drivers.

  Qualifications:

  The ideal candidate will be a seasoned professional in the insurance industry with 10+ years in risk management, with additional functional expertise in finance, investments and/or actuarial desirable. The successful candidate will be a results-oriented individual who can translate plans into actions, and with a strong moral compass.

  Bachelor's degree requiredStrong track record leading and managing teams with a proven ability to execute transformational projects.A strong risk management background that includes knowledge of both financial and operational risk.Knowledge of global insurance markets and regulatory capital frameworks, especially in Bermuda, the US, and JapanStrong interpersonal and influencing skills, clear communication skills, team orientation, and the desire and ability to work with business partners of different national, cultural, and language backgrounds.Strong analytical and quantitative skills, and an understanding of assets, insurance liabilities, capital, and liquidity.Prior experience in Bermuda and familiarity with Bermuda life insurance regulation is strongly preferredRelevant professional certifications (e.g., CPA, CFA, FSA, CERA, etc.) are a plusJapanese language skills a plus-

  Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.

  Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services, some of which may not be available in your area.

  We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.

  Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status , medical condition or any other characteristic protected by law.

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