Risk Director

About Everest

Everest Global Services, Inc. is a global front-runner in risk management with over 50 years of heritage supporting businesses and economies to endure, prosper, and grow. We are committed to responsible capital allocation and creating long-term value for stakeholders, while prioritizing positive impacts on communities and society at large.

Role Overview

The Enterprise Risk Management team seeks a Risk Capital Modelling Director with proficiency in Bermuda regulatory standards. This role supports analytical efforts across Everest Group’s consolidated entities including Group-wide, US, and Bermuda operations. It is based at various possible locations including Bermuda, New York City, London, Dublin, or Warren, NJ, and reports within the Financial Risk department collaborating with multiple stakeholders across the organization.

Key Responsibilities

• Carry out thorough reviews of BSCR calculations for Group and US entities to provide robust challenge to the first line.
• Maintain and improve BSCR calculation tools, utilizing Excel, actuarial software, and internal models to ensure accuracy and efficiency.
• Integrate Bermuda Monetary Authority (BMA) regulations and guidelines into capital modelling processes and solutions.
• Analyze temporal variations in regulatory capital and BSCR ratios considering underwriting, reserving, market, credit, operational, and other risks.
• Provide comprehensive insights on capital adequacy to aid business planning, risk appetite determination, and strategic decisions.
• Conduct or support assessments of capital impacts across diverse scenarios, stress tests, new products, business initiatives, or reinsurance arrangements.
• Identify opportunities for capital optimization through refining reinsurance, legal entity structuring, and intra-group transactions.
• Collaborate closely with Risk Management, Finance, Actuarial, and Investment teams to align regulatory capital with economic capital and enterprise risk management frameworks including ORSA.
• Communicate complex regulatory capital concepts clearly to non-actuarial stakeholders, including senior leadership.
• Lead training sessions and knowledge sharing related to BMA capital requirements within actuarial and risk teams.
• Establish, maintain, and oversee strong controls for the end-to-end BSCR process encompassing data validation, peer reviews, and formal approvals.
• Create and update comprehensive documentation covering assumptions, methodologies, process maps, user manuals, governance frameworks, and controls.
• Support internal and external audit requests related to regulatory capital and actuarial procedures.
• Develop and fine-tune actuarial methodologies underlying BSCR calculations, including stress testing, risk aggregation models, and parameterization for underwriting, market, credit, catastrophe, climate, cyber, mortgage, and other relevant risks.
• Ensure actuarial models comply with internal governance standards through documentation, versioning, and validation protocols.

Qualifications and Experience

• Near-qualified or qualified actuary designation strongly preferred (examples: FIA, FSA, FCIA, FCAS, FIAA, AIA, ASA, ACIA, ACAS, AIAA or equivalents).
• Bachelor’s or Master’s degree in Actuarial Science, Mathematics, Statistics, Finance, Economics or other related quantitative fields.
• Minimum 10 years of actuarial experience in property and casualty (re)insurance.
• At least 5 years of hands-on experience directly involved with Bermuda regulatory capital computations including BSCR.
• Knowledge of other regulatory frameworks such as Solvency II, US RBC, and ICS, and Enterprise Risk Management frameworks like ORSA.
• Experience engaging with regulators, auditors, or rating agencies is desirable.

Compensation and Benefits

The annual salary range offered for this position is $116,000 to $150,000 depending on individual qualifications, education, experience, and work location. Benefits include health insurance, employee wellness programs, life and disability insurance, 401k matching, retirement plans, paid holidays, and paid time off.

Additional Information

Everest is committed to fostering an inclusive workplace. Candidates are encouraged to apply even if not meeting every stated requirement, as there may be roles well suited to their profile. Accommodations during application or interview processes are available upon request.

Our Culture

We aim to provide protection globally and facilitate thriving clients, economies, and sustainable value creation. We embrace a distinctive inclusive culture centered on values such as talent, thoughtful risk-taking, execution, efficiency, humility, leadership, collaboration, inclusion, and belonging. We uphold behaviors of respect, continuous improvement, exemplarity, ownership, and teamwork that apply universally across locations and functions.