Vice President, Captive Manager

WHO WE ARE:
Relm is a specialty insurer built for businesses shaping the future.
We work with companies operating across digital assets and Web3, AI, space, fintech, biotech and other emerging industries where traditional insurance markets can struggle to keep pace.
With teams across London, New York, Dubai, Miami and Bermuda, we combine specialist underwriting expertise with curiosity, creativity and a willingness to understand risks others may not.

WHAT WE ARE LOOKING FOR:

The Vice President, Captive & ILS Manager is responsible for overseeing the management and operation of Relm Insurance's captive and insurance-linked securities (ILS) platform. The platform brings corporate risk financing and capital markets together in one place: captive and segregated cell structures for clients sit alongside collateralized reinsurance vehicles backed by third-party investors.

This role requires strategic thinking, deep technical expertise in insurance, reinsurance and alternative risk transfer, and strong relationship management skills with both insureds and capital providers. The successful candidate will serve as the primary liaison between Relm and its captive clients and ILS investors, and the primary point of contact with the Bermuda Monetary Authority (BMA) for the platform, ensuring that all regulatory and business requirements are met, that vehicles operate efficiently and are properly collateralized, and that each structure delivers optimal value.

WHAT YOU WILL DO:

Client & Investor Relationships

·      Serve as the main point of contact for clients utilizing captive and cell solutions, and for investors and capital partners participating in Relm's ILS vehicles.

·      Develop and maintain strong relationships with clients, brokers, ILS fund managers and other capital providers, understanding their objectives and providing tailored solutions.

·      Facilitate regular communication, including updates on captive and cell performance, regulatory compliance, and strategic opportunities for clients, and investor reporting on vehicle performance, loss development and collateral position for capital providers.

·      Support clients in evaluating their risk management strategies and identifying ways a captive, cell or capital markets solution can enhance their overall risk management program.

Captive & ILS Operations

·      Oversee the day-to-day operations of captives, segregated cells and ILS vehicles, including underwriting, claims management, and financial reporting.

·      Manage the full lifecycle of collateralized reinsurance transactions and ILS vehicles (including special purpose insurers and sidecar or fund-style structures): formation, capital raising and subscription, trust and collateral arrangements, renewals, commutations and collateral release.

·      Coordinate with internal and external stakeholders to ensure timely and accurate completion of financial statements, regulatory filings, and other compliance requirements across all managed vehicles.

·      Collaborate with actuaries, modeling agents, auditors, tax advisors, trustees, administrators and legal counsel to ensure captives and ILS vehicles operate within all applicable regulations and best practices.

·      Develop annual business plans and budgets for captive and ILS entities, ensuring alignment with client, investor and company objectives.

Governance, Compliance & Risk

·      Provide support in dealings with the Bermuda Monetary Authority (BMA) on all captive and ILS matters, including licensing and approvals for new vehicles and cells, regulatory filings, BMA queries.

·      Ongoing review, update, development and implementation of policies and procedures to ensure the organization remains compliant with local regulatory requirements and industry best practices governing captives and ILS vehicles, including financial reporting, solvency and collateral requirements, and corporate governance.

·      Develop periodic management metrics/reports including key risk indicators (KRIs) and key performance indicators (KPIs) to identify, mitigate and escalate risks, deficiencies and potential breaches.

·      Ensure that appropriate due diligence, KYC and sanctions screening is performed on clients, cedents and investors prior to execution of agreements or acceptance of capital.

·      Collaborate with the Product Development team to review and ensure that captive and ILS solutions offered align with BMA license conditions.

·      Monitor incoming transfers, payment requests and collateral movements within captive cells and ILS vehicles to identify any transactions requiring escalation to Compliance.

Structuring & Business Development

·      Collaborate with the business development team to promote captive and ILS solutions to prospective clients and investors.

·      Provide insights and recommendations on captive formation, feasibility studies, and structuring options based on client needs and risk profiles.

·      Support the origination and structuring of new ILS transactions, including term sheets, offering materials, investor presentations and the selection of trigger, collateral and reporting mechanisms.

·      Identify opportunities to enhance the platform's value for clients and investors, including ceding captive or cell risk to third-party capital, reinsurance options, multi-line or multi-year structures, and portfolio diversification.

Financial Oversight

·      Monitor the financial performance of captives and ILS vehicles, ensuring profitability, adequate reserving, capital adequacy and full collateralization.

·      Oversee premium collection, claims payments, collateral management and investment activities within captive and ILS structures.

·      Oversee loss reserving, trapped collateral and buffer loss calculations, and the calculation and reporting of investor returns and net asset values where applicable.

·      Provide regular reports and analysis to clients, investors and internal stakeholders regarding financial results and trends.

·      Collaborate with the Finance team to provide required information to ensure timely and accurate periodic financial reporting and annual audited financial statements.

Requirements:

·      Bachelor's degree in Risk Management, Insurance, Finance, Business Administration, or a related field. Advanced degrees or designations (MBA, CFA, CPCU, ARM) would be considered a plus.

·      Minimum 7 years of experience in the insurance, reinsurance, captive management or ILS industry.

·      Proven track record of leading and managing captive insurance programs and working with alternative risk transfer solutions.

·      Hands-on experience with ILS and collateralized reinsurance — for example at a reinsurer, ILS fund manager, insurance manager, broker capital markets team or ILS administrator — including investor reporting and collateral management.

·      Strong understanding of insurance and reinsurance principles, underwriting, and claims processes.

·      Knowledge of captive and ILS regulation (including the Bermuda framework for captives, segregated accounts companies and special purpose insurers), solvency and collateral requirements, and tax considerations.

·      Experience with financial analysis, risk management, and insurance product program design; familiarity with catastrophe modeling outputs and ILS pricing is an advantage.

·      Excellent interpersonal and relationship management skills, with the ability to communicate credibly with corporate risk managers, brokers and institutional investors alike.

·      Strong organizational and project management abilities.

·      Exceptional problem-solving, analytical, and decision-making skills.

·      Proficient in financial reporting and understanding of actuarial principles.

·      Strong leadership skills.

WHAT WE OFFER :

• Full Payroll Tax & Social Insurance Coverage: The company covers 100% of your payroll tax and social insurance, ensuring your financial security and peace of mind. 

• Comprehensive Insurance Plans: We provide 100% coverage for your health, dental, and life insurance, keeping you and your loved ones well protected. 

• Generous Pension Contributions: The company contributes 5% of your pensionable earnings, helping you plan and secure your financial future. 

• Paid Time Off (PTO): You will accrue 28 days of Paid Time Off (PTO), giving you the flexibility to take vacation, sick leave, or personal time. 

• Professional Development Opportunities: We invest in your career with training, development programs, and mentorship to help you grow and achieve your professional goals. 

• Travel Benefits: Enjoy travel perks such as commuting and parking benefits to make your daily commute easier and more convenient. 

• Wellness Benefits: Stay healthy and active with wellness perks, including gym memberships and access to exercise classes, designed to support your well-being. 

• Your Voice Matters: Work in an environment where your ideas and opinions are not just heard but valued and crucial to our team’s success. 

• Endless Growth Opportunities: Benefit from a multitude of career growth opportunities, ensuring you have the resources and support to advance within the company. 

• Flexible & Family-Friendly Work Environment: Embrace a hybrid approach to work that provides flexibility and supports a balanced, family-friendly lifestyle. 

At Relm, you won’t just join a company - you’ll be part of a team that’s shaping the future. If you’re ready to make an impact, we’d love to hear from you. 

WHY YOU’LL LOVE WORKING WITH US:
Relm is a team of innovators redefining what’s possible in insurance.
You’ll work in an environment that encourages curiosity, ownership and new ideas, with the opportunity to help shape products, markets and ways of working rather than simply inherit them.
We invest in our people and give them the support, tools and development they need to do their best work and continue growing with the business.