Deputy Inspector, Insurance & Chief Actuary
Port of Spain,
Trinidad and Tobago
Deputy Inspector, Insurance & Chief Actuary: Central Bank of Trinidad and Tobago
The Central Bank of Trinidad and Tobago (CBTT) is widely respected as the monetary policy authority and guardian of financial stability grounded in international best practices. As a knowledge-based institution, the Central Bank will provide visionary and dynamic leadership and work to position Trinidad and Tobago as the financial centre of the region.
The Bank is seeking to recruit an outstanding individual for the role of Deputy Inspector, Insurance & Chief Actuary. The role is at the Senior Manager level at the Bank; will report directly to the Inspector of Financial Institutions (IOFI) and will be the Bank’s Chief Actuary. The incumbent will work closely with the Governor and other members of the Senior Management team. He/She will be the subject matter expert on insurance, pensions, and actuarial-related matters when interacting with the Board.
1. Contribute to the strategic direction of the Bank actively participating as a member of the Bank’s senior management team assisting in the formulation of strategy and policy and playing a key role in projects/activities impacting the Bank’s operations.
2. Directly supervise and provide leadership and direction to the Insurance, Pensions, and Actuarial Units at the Bank with the support of the Manager, Insurance, and the Manager, Pension & Intermediaries; oversee the regulatory operations for insurance companies, pension funds, and intermediaries.
3. Review and sign off on reports on the adequacy of actuarial liabilities of life and general insurance business as required.
4. Review and approve recommendations for all new and amended life insurance policies and pricing proposals consistent with the requirements in the legislation.
5. Recommend changes to risk and solvency frameworks in line with international standards and principles.
6. Assess pension plans ‘at risk’of insolvency and recommend remedial action, where necessary.
7. Evaluate appointed actuaries’ valuations and stress testing reports and propose stress testing scenarios working closely with the Research Department.
8. Provide technical assistance and training regarding actuarial matters to staff.
9. Provide expertise and information on developments with respect to legislative policy.
10. Lead or participate in meetings and conferences and interact with regulated entities or their representatives, industry organisations, and the public on insurance-related matters; develop and foster relationships with relevant institutions.
skills and experience
· Applicants should possess a Fellow Actuarial Qualification preferably in the Life Insurance area
· At least 12 years of actuarial experience
· Minimum of 5 years in a senior management role
· A proven track record of successful project management and drive in leading technical teams
· Genuine interest in people development and in mentoring and motivating staff.
· Demonstrated ability to communicate effectively in writing and in doing presentations to technical and non-technical audiences.
The Bank offers an attractive remuneration package which includes a Group Health Plan, Pension Plan, Employee Savings Plan, and other benefits.
Applications close on Monday, June 12th, 2023
Port of Spain