Head of ALM

Prismic Life, a Bermuda-incorporated life and annuity reinsurer, is a growth-oriented reinsurance platform that leverages Prudential Financials' sponsorship and PGIM’s and Warburg Pincus’ market-leading asset management franchises to deliver value for its clients. Prismic Life’s expertise and operational scalability allows us to provide risk and balance sheet management solutions to clients and the opportunity for investors to participate in reinsurance as an investment.

The company was launched on September 1, 2023, and currently manages $17B of liabilities from various Prudential-affiliated entities.

As we expand our global footprint from Bermuda to the US and Japan, we seek a Head of ALM and Investment Analytics, to architect our next phase of expansion and position us among the industry’s leading global reinsurers.

Prismic Life Re, a leading Bermuda-based life and annuity reinsurance company managing multi-billion in assets, is seeking Head of Asset Liability Management (ALM) and Investment Analytics, reporting to the Chief Investment Officer.

The role serves as the enterprise owner of ALM strategy, analytics and governance sitting at the intersection of Investments, Actuarial, Enterprise Risk, Finance, and new business transactions.

The Head of ALM is accountable for liability-driven investment strategy, capital optimization under the Bermuda regulatory framework, portfolio analytics, and investment support for new business transactions, while acting as a key partner to the CIO and broader executive leadership team. This leadership role engages with multiple stakeholders (C-suite, Investment Committee, Transaction Review, Board of Directors, rating agencies, Bermuda Monetary Authority BMA regulators, broker-dealers, reinsurance counter parties) etc.)

on strategic asset allocation strategies and derivative overlays to ensure robust enterprise-wide asset liability management.

• Own and lead the design and execution of liability-driven investment (LDI) strategy for life and annuity reinsurance business with optimal asset allocation mix
• Set strategic direction for duration, convexity, yield curve positioning, spread exposure, ensure adequate liquidity to mitigate policy holder behavior, and prepayment, currency risks
• Advise the CIO / investment committee on portfolio construction, balance sheet resilience, capital efficiency and risk appetite alignment
• Optimize asset allocation to enhance risk-adjusted returns and return on equity while maintaining strong solvency ratio in stressed economic scenarios
• Partner with Finance, Actuarial and ERM on designing and implementing enterprise-wide stress testing and scenario analysis across interest rate, credit spread, equities, volatility, FX, ensuring adequate liquidity / collateral under varied macroeconomic environments.

• Serve as the senior ALM and investment representative for flow reinsurance deals and PRT transactions.
• Lead the development of transaction specific investment guidelines within overall risk appetite guardrails
• Serve as a senior investment representative in client discussions regarding portfolio strategy, performance attribution, and capital efficiency.

• Own governance and oversight of third-party asset managers across public fixed income, structured credit, private credit, and alternative asset classes
• Set expectations for mandates are aligned with investment guidelines, risk limits and Bermuda regulatory considerations.

• Partner with Finance and Risk Leadership to optimize capital usage under Bermuda BSCR regime
• Oversee asset allocation decisions to support targeted ECR coverage ratios and maintain prudent buffers above MSM requirements.
• Ensure portfolio construction relative to BSCR risk charges (credit, spread, interest rate, concentration, currency, and liquidity risk) to enhance capital efficiency
• Provide detailed asset valuation and projected cash flow analytics under baseline and stressed scenarios to the Actuarial/ERM teams, supporting CISSA…