This position is located in Bermuda.
Gibraltar Reinsurance Company Ltd. (Gibraltar Re) and Lotus Reinsurance Company Ltd. (Lotus Re) are seeking a Chief Risk Officer (CRO) to lead the risk function and support the businesses’ continued growth.
Gibraltar Re and Lotus Re are Bermuda-based life reinsurance companies that have successfully transitioned from startup to a more established operating model. Over the past two years, we have expanded our team and executed key transactions, and we are further evolving our risk governance and reporting to support our next phase of growth.
As Chief Risk Officer, you will lead the risk function, provide independent challenge, and help drive the businesses forward. The role reports to the President, with direct and unfettered access to the Board and Board Risk Committee.
This is a senior control-function position with direct responsibility for regulatory credibility. The CRO will engage regularly with the Board of Directors, Board Risk Committees, senior management and the Bermuda Monetary Authority, exercising independent judgement while acting as a constructive partner to the business.
Primary responsibilities include, but are not limited to:
Maintain and continuously enhance the Enterprise Risk Management framework
Develop and monitor the risk appetite framework, including limits, metrics and escalation thresholds
Oversee and challenge risks arising from reinsurance activities, including credit, market, liquidity, concentration, counterparty and operational risk
Provide independent risk oversight of asset strategy, ALM and liquidity management, working closely with Investment, Actuarial and Finance functions
Lead the CISSA process, ensuring alignment between strategy, capital planning and risk profile
Provide oversight and challenge of regulatory capital and solvency frameworks, including BSCR, EBS and SBA
Review and challenge risk components of regulatory filings, including CISSA submissions and business plans
Act as a primary risk interface with the Bermuda Monetary Authority, supporting open, credible and proactive regulatory engagement
Oversee insurance and actuarial risks, including mortality/longevity, policyholder behaviour, product design and reinsurance structures
Review and challenge actuarial assumptions and model outputs from an independent risk perspective
Oversee stress testing and scenario analysis across capital, liquidity, assets and insurance risks
Deliver clear, concise and decision relevant risk reporting to the Board and Board Risk Committees
Promote a strong, proportionate risk culture across a lean and growing organisation
Skills, Experience and Role Requirements:
10–15+ years’ experience in life insurance or life reinsurance, with a background in risk management, actuarial, investments or finance
Strong understanding of the Bermuda long term insurance regulatory framework, including BSCR, EBS, SBA and CISSA
Direct experience with asset intensive, ALM driven balance sheets and reinsurance structures
Demonstrated ability to operate credibly at Board and regulator facing level
Professional qualifications such as FSA, CERA, CFA, FRM, FIA or equivalent
Sound commercial judgement, independence of thought and the confidence to challenge constructively
Strong communication skills, with the ability to articulate complex risk issues clearly and proportionately
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.
Skills Required
- 10-15+ years' experience in life insurance or life reinsurance
- Strong understanding of Bermuda long term insurance regulatory framework
- Direct experience with asset intensive, ALM driven balance sheets
- Professional qualifications such as FSA, CERA, CFA, FRM, FIA or equivalent
PGIM Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about PGIM and has not been reviewed or approved by PGIM.
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Healthcare Strength — Health coverage includes comprehensive medical, dental, and vision options, complemented by behavioral health programs and wellness reimbursements. On-site fitness centers and health coaching further support physical and mental well-being.
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Retirement Support — Retirement programs feature a 401(k) with company match and a company-funded pension, with access to an employee stock purchase program. Student loan repayment assistance and savings plans add to long-term financial support.
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Wellbeing & Lifestyle Benefits — Work-life balance is reinforced by flexible/hybrid work options, paid holidays and sick allowances, and amenities like gym access, free parking, and an affordable cafeteria in some locations. Tuition reimbursement, commuter benefits, and broad work/life resources extend lifestyle support.
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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.
