WHAT YOU WILL DO:
Serve as the main point of contact for clients utilizing captive insurance solutions.
Develop and maintain strong relationships with clients, understanding their needs and providing tailored insurance solutions.
Facilitate regular communication with clients, including providing updates on captive performance, regulatory compliance, and strategic opportunities.
Support clients in evaluating their risk management strategies and identifying ways the captive can enhance their overall risk management program.
Oversee the day-to-day operations of captives, including underwriting, claims management, and financial reporting.
Coordinate with internal and external stakeholders to ensure timely and accurate completion of financial statements, regulatory filings, and other compliance requirements.
Collaborate with actuaries, auditors, tax advisors, and legal counsel to ensure captives operate within all applicable regulations and best practices.
Develop annual business plans and budgets for captive entities, ensuring alignment with client and company objectives.
Ongoing review, update, development and implementation of policies and procedures to ensure the organization remains compliant with local regulatory requirements and industry best practices governing captives, including financial reporting, solvency requirements, and corporate governance.
Develop periodic management metrics/reports including key risk indicators (KRIs) and key performance indicators to identify, mitigate and escalate risks, deficiencies and potential breaches.
Ensure that appropriate due diligence documentation is obtained and any required sanctions screening is performed prior to execution of agreement.
Collaborate with Product development team to review and ensure that captive solutions offered align with BMA license conditions.
Monitor incoming transfers and payments requests within captive cells to identify any transactions requiring escalation to Compliance.
Collaborate with the business development team to promote captive insurance solutions to prospective clients.
Provide insights and recommendations on captive formation, feasibility studies, and structuring options based on client needs and risk profiles.
Identify opportunities to enhance the captive’s value proposition, including exploring reinsurance options, multi-line or multi-year structures, or portfolio diversification.
Monitor the financial performance of captives, ensuring profitability, adequate reserving, and capital adequacy.
Oversee premium collection, claims payments, and investment activities within the captive structure.
Provide regular reports and analysis to clients and internal stakeholders regarding financial results and trends.
Collaborate with the Finance team to provide required information to ensure timely and accurate periodic financial reporting and annual audited financial statements.
Bachelor’s degree in Risk Management, Insurance, Finance, Business Administration, or a related field. Advanced degrees (MBA, CPCU, ARM) would be considered a plus.
Minimum 7 years of experience in the insurance, reinsurance, or captive management industry,
Proven track record of leading and managing captive insurance programs and working with alternative risk transfer solutions.
Strong understanding of insurance and reinsurance principles, underwriting, and claims processes.
Knowledge of captive insurance regulations, solvency requirements, and tax considerations.
Experience with financial analysis, risk management, and insurance product program design.
Excellent interpersonal and client relationship management skills.
Strong organizational and project management abilities.
Exceptional problem-solving, analytical, and decision-making skills.
Proficient in financial reporting and understanding of actuarial principles.
Strong leadership skills.
