Director, Reinsurance Operations

Job Classification:

Operations - Insurance Operations

Prudential Financial Inc.’s (PFI) Bermuda Reinsurance team is seeking a skilled and highly motivated individual to fill a Director, Operations role that will be based in the U.S. and report to the VP, Head of Expense and Reinsurance Operations of the Bermuda based affiliate reinsurance companies, Gibraltar Reinsurance Company Ltd. (Gibraltar Re) and Lotus Reinsurance Company Ltd. (Lotus Re).

This role is ideal for a life reinsurance operations professional who is ready to take ownership of a newly forming operations function. You 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. You 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.

The current EWA for this position is Hybrid and requires your on-site presence on a reoccurring basis as determined by your business. Your manager will provide additional details relating to the specific number of days you are expected to be on-site.
 

What You Can Expect:
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

What You’ll Need:

• Bachelor’s degree in business, actuarial science, finance, or a related discipline.

• Minimum 7+ years of experience in life reinsurance, ideally with exposure to both operational and technical aspects of treaty administration.

• 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.

• Proven experience managing Bermuda Solvency Capital Requirement and/or Solvency II frameworks as it applies to long-term reinsurance operations.

• 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.

What we offer you:Prudential is required by state specific laws to include the salary range for this role when hiring a resident in applicable locations. The salary range for this role is from $147,100.00 to $220,700.00. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills.

• Market competitive base salaries, with a yearly bonus potential at every level. 

• Medical, dental, vision, life insurance, disability insurance, Paid Time Off (PTO), and leave of absences, such as parental and military leave. 

• 401(k) plan with company match (up to 4%). 

• Company-funded pension plan. 

• Wellness Programs including up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs. 

• Work/Life Resources to help support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development.  

• Education Benefit to help finance traditional college enrollment toward obtaining an approved degree and many accredited certificate programs.  

• Employee Stock Purchase Plan: Shares can be purchased at 85% of the lower of two prices (Beginning or End of the purchase period), after one year of service. 

Eligibility to participate in a discretionary annual incentive program is subject to the rules governing the program, whereby an award, if any, depends on various factors including, without limitation, individual and organizational performance. To find out more about our Total Rewards package, visit Work Life Balance | Prudential Careers. Some of the above benefits may not apply to part-time employees scheduled to work less than 20 hours per week.