Somers Re is hiring a

Head of Risk and Compliance

Deadline: 5 days

Job Type: Permanent

Our client, Somers Re Ltd. (Somers Re) is a Bermuda based licensed Class 4 multi-line insurer that provides global property and casualty, insurance and reinsurance products with operations in Bermuda, the United States and Europe. Our strategy combines a diversified, casualty-focused underwriting portfolio, accessed through our multi-year, renewable strategic underwriting management relationship with Arch, with a disciplined investment strategy. We invite applications for the position of: Head of Risk and Compliance Reporting into the Chief Executive Officer, the Head of Risk and Compliance is responsible for development and management of Somer's enterprise risk management framework, risk and compliance reports and risk and compliance policies and documents. The role also has responsibility for oversight of the application of the enterprise risk management framework and compliance frameworks across the Somers Group. The role has one direct report (Compliance) and will work closely with the Capital and Reserving Actuary. Duties and Responsibilities: • Responsibility for Somers enterprise risk management framework including maintenance of risk register, annual review and refresh of risk appetite, maintenance of risk policies and documents Preparation of quarterly risk and compliance management information and Board presentations • Preparation of the CISSA/GISSA document and other regulatory required ERM documents for Bermuda Class 4 and Group • Oversee/coordinate the preparation of BSCR submission and Pillar 3 disclosures in Bermuda for regulatory reporting • Review of ORSA, FCR etc. for subsidiaries • Assist with completion of annual ERM surveys and returns for Group and subsidiaries • Perform proactive monitoring and control of policies, procedures, processes, practices and documents to ensure compliance with relevant regulatory requirements • Liaise with subsidiary risk and compliance teams, as required Assist with rating agency presentations and relationship management (AM Best, Kroll) Assist in managing and maintaining relationships with BMA, GFSC (Gibraltar), ACPR (France) as required Stay updated on industry best practices and regulatory changes to ensure compliance programs are effective and up-to-date • Maintain accurate and up-to-date records of compliance activities, including audits, assessments, and training sessions • Manage Internal Audit relationship Minimum Qualifications, Skills & Experience: • A Bachelor's degree in Risk Management, Compliance or a related subject • A relevant legal, risk or compliance qualification Minimum 5 years re/insurance industry experience in a risk and/or compliance role, with knowledge of US, Europe, UK (and/or Lloyds market) and Bermuda re/insurance markets • Proven experience in enterprise risk management and oversight, including risk reporting and governance processes • Demonstrated experience in managing and maintaining risk policies aligned with enterprise risk frameworks and regulatory requirements Knowledge of Bermuda regulatory requirements for re/insurance companies • Direct knowledge of CISSA/GISSA and ORSA or FCR • Experience dealing with regulators on behalf of a firm Direct experience with rating agencies preferred Strong organizational skills and ability to quickly prioritize key matters • Proven ability to communicate effectively with individuals at all levels and in all areas of the organization, as well as with clients and other external stakeholders.

Salary

Not specified

Benefits

Not specified

How to Apply

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Some

Contact InfoSomers Re

8 Par-la-Ville Road, Mintflower Place, 2nd Floor, Hamilton, HM08

441-296-0336

Application DeadlineJul 11, 2025

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