Head of Actuarial Model Center of Excellence (COE)

Prismic Life is a Bermuda-incorporated life and annuity reinsurer and a growth-oriented reinsurance platform. The company leverages Prudential Financial’s sponsorship and the market-leading asset management capabilities of PGIM and Warburg Pincus to deliver value to clients. Prismic Life’s expertise and scalable operating model enable the firm to provide risk and balance sheet management solutions, while offering investors access to reinsurance as an asset class. Launched on September 1, 2023, Prismic Life currently manages over $17 billion of liabilities.

Prismic is hiring an actuary to join the fast-growing Bermuda operation. Prismic is building a core leadership group of seasoned experts with a track record of success and an ownership mindset to deliver on shared ambitions. This is a unique opportunity to join an entrepreneurial start-up that has the benefit of strong sponsorship, enabling it to scale. Our team of professionals brings commercial depth and technical expertise across various fields, including Reinsurance, Investments, Finance, Asset-Liability Management, Actuarial, Transactions, Law, Controllership, Operations, and Risk.

The Head of Actuarial Model center of excellence (COE) will build and lead the actuarial modeling team, responsible for all aspects of actuarial modeling in support of Prismic’s financial and commercial activities, including inforce business reserving and valuation, asset and liability projection, ALM and hedge metric production, financial reporting and forecasting, new business onboarding, capital planning, liquidity forecasting, risk measurement.

Key Responsibilities:

• Own and lead the Actuarial Modeling Center of Excellence (COE) with end-to-end accountability for actuarial modeling in support of Prismic’s financial, commercial and risk objectives including reserving, valuation, ALM, capital, liquidity and forecasting
• Build, manage and mentor a high-performing actuarial modeling team, balancing hand-on technical leadership with people development, prioritization and delivery accountability
• Serve as the primary technical authority for actuarial modeling methodologies and assumption, ensuring models are robust, well-controlled and fit for purpose across multiple bases (EBS, US GAAP, Bermuda Statutory)
• Participate in operating model transformation to build a more streamlined, better controlled, and more efficient end-to-end financial operating process including data transformation, model design, coding & programing, reserve determination, financial reporting, and results analysis.
• Perform experience review, monitoring, and assumption update
• Partner closely with Head of Valuation, Head of Financial Reporting, Finance, Investments, Risk and Pricing to ensure alignment between actuarial models, financial results, and commercial decision-making
• Work closely with Investments and Asset Management teams on ALM, hedge metrics and balance sheet optimization to support capital strength and long-term value creation
• Produce risk measurement report and analytics for regulatory filing and internal management risk monitoring, including capital and liquidity forecasting
• Support the company’s engagement with the Bermuda regulatory body, including SBA application, asset and derivatives approval, transaction filing, and prudential review. The engagement can expand to other jurisdictions as needed.
• Collaborate with Pricing/Deal team on new business onboarding and fund raising in support of balance sheet growth
• Translate complex actuarial results into clear, actionable insights for senior leadership, supporting strategic decision making and effective storytelling
• Support business and commercial undertaking, such as rating agency engagement, capital raise, capital call and capital distribution

Required Skills and Qualifications:

• Fellow or near Fellow of the SOA, IFoA, FCIA, with 10 years of actuarial professional experience including significant responsibility for modeling, valuation or capital in insurance or reinsurance
• Proven experience leading actuarial modeling teams or functions, with a track record of delivering high-quality results in a complex, multi-stakeholder environment.
• Deep, hands-on expertise in actuarial modeling, reserving, valuation, capital and ALM with the ability to both perform and review technical work
• Strong working knowledge and experience with actuarial modeling platform , such as MG ALFA, pALM, and Axis including model design, implementation and review
• Proficiency with Python, Power BI, and MS office highly desirable, particularly for analysis, automation and communication
• Ability to prioritize, plan, and execute multiple work efforts simultaneously
• Comfortable operating in a fast paced, entrepreneurial environment, balancing rigor with pragmatism and a “build and scale” mindset
• Strong verbal & written communication skills, particularly in explaining technical concepts clearly to non-technical stakeholders
• Bachelor’s degree in actuarial science, Mathematics, data science or a related field: advanced degree preferred

Compensation & Benefits

Prismic 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 $215,000 - $295,000. Specific pricing for the role may vary within the above range based on may factors including geographic location, candidate experience, and skills.

• Competitive salary commensurate with experience.
• Comprehensive benefits package including health, dental, and vision insurance.
• Eligibility for Long term incentives and 401(k) retirement plan savings.

We are excited to welcome a new member to our Prismic team who is ready to take on the challenges and opportunities that come with being an actuary. If you are a driven, innovative, and experienced professional looking to make a significant impact in a growing and dynamic company, we encourage you to apply.

Join us at Prismic and be part of a team that values expertise and collaboration, with an entrepreneurship and ownership mindset. We look forward to embarking on this exciting journey together.