Somerset Services Ltd. is a member of the Somerset group which has entities that are established providers of reinsurance solutions in Bermuda and the USA, specializing in asset-intensive life and annuity business including whole life, interest-sensitive life, paid-up life and universal life, fixed deferred and equity-indexed deferred annuities, immediate annuities, structured settlements and pension risk transfer. We are committed to excellence, integrity, and innovation in all aspects of our operations. Role and Responsibilities: The Head of Compliance and Internal Audit, working in conjunction with senior management, will coordinate and perform the internal audit and compliance activities of the Company. The compliance activities include regulatory and tax filings in multiple jurisdictions (including Bermuda, United States, Ireland and Switzerland), monitoring of contractual covenants and shareholder communications. The internal audit responsibilities include oversight of an external co-sourcing service provider. The individual should be comfortable overseeing the work of service providers and monitoring regulatory and tax changes and presenting concepts and solutions to senior management in an ongoing manner. General Duties – Compliance:

• Coordinate all compliance activities, including regulatory and tax, in multiple jurisdictions.
• Document and monitor all contractual covenants.
• Maintain the compliance calendar and ensure all deadlines are met.
• Complete applicable regulatory filings.
• Work closely with legal counsel in support of corporate legal activities.
• Coordinate legal elements of corporate governance.
• Monitor new or changes to existing compliance requirements.
• Prepare compliance related communications for senior management and the Board.
• Assist with Bermuda Statutory filings, including BSCR, CISSA and Financial Condition Report.
• Perform other tasks as requested by management. General Duties – Internal Audit:
• Perform audits that are not co-sourced.
• Oversee the day-to-day internal audit work performed by the external service provider.
• Maintain the Company’s risk register.
• Coordinate the risk-based annual and triennial internal audit plans to be presented to the Audit Committee and the Board for approval.
• Recommend and coordinate any remediation efforts arising from audits performed.
• Prepare and/or oversee related communications to senior management and the Board.
• Stay abreast of emerging risks (e.g. cyber risk).
• Stay abreast of industry best practices.
• Engage with senior management and key stakeholders to foster a collaborative and compliance-oriented culture across the organization.
• Develop effective relationships with regulators, and external auditors.
• Provide advisory services to various departments on internal controls.
• Work collaboratively with the Risk Management function.
• Perform other tasks as requested by management. Qualifications, Education and Experience Requirements:
• Professional accounting designation, (CA or CPA).
• A minimum of ten years’ post qualification experience.
• Experience in life insurance or life reinsurance.
• Preference to those with legal background and/or working towards a legal/compliance designation.
• Certified Internal Auditor designation, (CISA/CIA or equivalent).
• Prior experience in managing internal and/or external audits.
• Understanding of IIA standards of professional practice.
• Experience with the design, implementation, and maintenance of internal controls.
• Experience with overseeing work from service providers.
• Understanding of the Bermuda regulatory and compliance requirements.
• Understanding of other key compliance requirements (e.g. AML,FATCA, etc.). Other Skills:
• Strong analytical skills
• Strong project management and organizational skills
• Ability to work in a fast-paced environment
• Excellent communication skills
• Capacity to work independently