The primary location for this position is: Hamilton, Bermuda
Pramerica Services Company Bermuda, LTD., a wholly owned subsidiary of Prudential Financial Group ("PFI", fortune 500 Company), is seeking a skilled Director, Life Reinsurance Operations.
This role is ideal for a life reinsurance operations professional who is ready to take ownership of a newly forming operations function. This role will initially focus on designing and implementing the operational framework, and then assume full responsibility for the ongoing administration, governance, and process enhancement across the two reinsurance captives.
The Director will work closely with colleagues in actuarial, finance, legal and IT to ensure efficient and compliant operations across all stages of the reinsurance lifecycle — including treaty onboarding, transaction processing, reporting, and retrocession management.
Primary Responsibilities:
Build Phase
Develop and implement all core reinsurance and retrocession operational processes and for the captives, including treaty onboarding, financial settlements, and reporting.
Establish controls, documentation, and process governance in line with Bermuda Monetary Authority (BMA) expectations.
Collaborate with colleagues to define and implement infrastructure that supports internal reinsurance and third-party retrocession, including IT and data integration.
Support the integration of operations with actuarial valuation, finance, risk management, and governance frameworks.
Participate in transaction negotiations related to operational arrangements and ensure that negotiated transactions can be seamlessly operationalized
Steady-State Operations
Lead the ongoing administration of all reinsurance and retrocession arrangements, ensuring data accuracy, timeliness, and audit readiness.
Oversee the processing of internal reinsurance treaties and coordinate retrocession and settlements with third-party reinsurers.
Manage relationships with cedants and retrocessionaires for any operational issues
Manage relationships with any outsourced vendors or service providers supporting operations.
Collaborate with internal teams on quarterly and annual reporting, including support for financial close, actuarial valuation, and audit.
Continuously evaluate and improve operational processes for scalability, efficiency, and risk control.
Serve as a subject matter expert on reinsurance operations
Qualifications:
7+ years of experience in life reinsurance, ideally with exposure to both operational and technical aspects of treaty administration.
Bachelor’s degree in business, actuarial science, finance, or a related discipline.
Strong knowledge of reinsurance structures, with specific understanding of internal reinsurance and retrocession to external parties.
Demonstrated ability to design or improve operational functions, especially in build-out or transformation environments.
Familiarity with Bermuda’s insurance regulatory framework and BMA compliance requirements.
Strong organizational and project management skills. Agile is a plus.
Comfortable working in a lean team environment with hands-on responsibilities and cross-functional collaboration.
Outstanding interpersonal skills and ability to collaborate effectively
Excellent verbal and written communication skills
Strongly results-oriented with the desire and drive to accomplish stated objectives
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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What We Do
PGIM, the investment management business of Prudential Financial, Inc.* is a multi-manager that delivers industry-leading strategies and solutions to clients. Each business maintains its own investment process and culture, allowing for a singular focus on delivering investment returns for clients.
The PGIM businesses offer investors a wide range of investment strategies across asset classes and geographies, including public equities, public and private fixed income, commercial mortgages and real estate. Clients of PGIM can rely on superior long-term performance, risk management expertise and innovative products to help them realize a wide range of business objectives.
In addition, PGIM uses its collective knowledge and business expertise to work with public, private and non-profit sector partners to create solutions that address critical social issues that have an enduring impact.
*Prudential Financial, Inc. of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom.
