Overview
Financial Analyst Jobs in Jamaica at British Caribbean Insurance Company Ltd. (BCIC)
Title: Financial Analyst
Company: British Caribbean Insurance Company Ltd. (BCIC)
Location: Jamaica
BRITISH CARIBBEAN INSURANCE COMPANY LIMITEDFINANCIAL ANALYSTJob Description
British Caribbean Insurance Company Limited (BCIC) is Jamaica’s leading general insurer. We create a learning environment where our people grow, perform well, and help the business succeed. Our employees are key to our success. We are looking for a Financial Analyst to join our Finance Department and support our vision.
Summary
Reporting to the Chief Accountant, the Financial Analyst plays a critical role in supporting the company’s financial planning, reserving, and reporting functions through data insights and analysis. This role involves developing financial models, supporting forecasting, and enhancing the accuracy and reliability of data-driven insights across the organization. Working within a dynamic P&C insurance environment, the successful candidate will use specialised financial tools to support decision-making, compliance, and performance monitoring, with exposure to IFRS 17 reporting and senior leadership engagement.
Key Responsibilities
Financial modelling and underwriting performance analysis
The Financial Analyst will:
- build and maintain financial models for premium earnings, loss development, and combined ratio forecasts
- use strong analytical methods to assess underwriting profitability, capital efficiency, and risk-adjusted returns by line of business
- compare loss ratios, expense ratios, and combined ratios against budget, prior year results, and industry benchmarks
- support catastrophe exposure modelling
- monitor how large-loss events affect financial results.
Reserving and actuarial support
The Financial Analyst will:
- analyse claims reserves to support monthly and quarterly financial reporting under IFRS 17
- support the calculation of insurance liabilities under IFRS 17 using the Premium Allocation Approach, including loss component recognition
- review loss development triangles and claims payment patterns to assess reserve adequacy
- work with external actuaries and auditors to validate reserves and support disclosed assumptions.
Reporting, forecasting and variance analysis
The Financial Analyst will:
- prepare monthly, quarterly, and annual management accounts, board packs, and regulatory reports
- compare actual results against budget, prior year results, and market benchmarks
- identify key trends, unusual movements, and business risks, and provide clear commentary
- develop financial projections, rolling forecasts, and budget models to support strategic planning
- support the annual budgeting process and scenario analysis exercises
- design dashboards and data visuals that turn complex property and casualty insurance data into clear business insights.
Compliance, regulatory and audit support
The Financial Analyst will:
- prepare reports that meet IFRS 17, IFRS 4, and relevant Caribbean general insurance regulatory requirements
- prepare working papers, schedules, and evidence packs for internal and external audits
- monitor changes in accounting and regulatory standards
- recommend updates to financial policies, procedures, and reporting processes.
Cross-functional and strategic support
The Financial Analyst will:
- work with Underwriting, Claims, Risk, and IT teams to include financial analysis in daily business decisions
- share financial insights with internal teams to support risk-based planning across the organisation
- support enterprise risk management, capital adequacy reviews, and stress-testing exercises.
Tools and process improvement
The Financial Analyst will:
- use financial software, ERP systems, and actuarial tools for modelling, analysis, and reporting
- work with IT and Data Analytics teams to improve data flow, system integration, and reporting processes
- identify and implement automation opportunities to improve accuracy, reduce manual work, and speed up reporting
- keep clear and current documentation for financial models, processes, and system workflows.
Software applications
The Financial Analyst will use the following to complete tasks:
- Microsoft Excel – advanced level for financial modelling, dashboards, pivot tables, and scenario analysis
- Power BI or Tableau for data visualisation, management reports, and regulatory dashboards
- ERP systems, such as Sage 300 or Sage Intacct for general ledger work, financial data extraction, and reconciliation
- Microsoft PowerPoint and Word for board presentations, working papers, and executive reports.
Qualifications and experience
- Bachelor’s degree in Actuarial Science, Finance, Statistics, Mathematics, or a related discipline.
- Minimum of 1 to 2 years’ experience in finance, actuarial analysis, insurance analytics or a related analytical role.
- Strong modelling and quantitative analysis capabilities.
- Knowledge of IFRS 17 is an asset.
- Familiarity with actuarial software and financial reporting tools.
- Exposure to the insurance industry or a related financial services environment.
- Working knowledge of ERP/general ledger systems (e.g., ACCPAC, Sage Intact).
- CFA candidacy or professional accounting qualification (ACCA, CPA) is a plus
Key Performance Indicators (KPI)
- Submits accurate, complete, and timely financial and regulatory reports by the required deadlines.
- Builds and maintains reliable financial models with clear assumptions, useful scenarios, and accurate forecasts.
- Supports reserve adequacy reviews by comparing reported reserves with actual and emerging claims experience.
- Provides accurate analysis of combined ratios, loss ratios, premiums, and other underwriting performance measures.
- Maintains accurate records, working papers, and supporting documents for audit and regulatory reviews, with no material issues caused by the Finance Analyst function.
- Reduces manual processing time by improving reports, automating routine tasks, and using technology more effectively.
Behavioural Profile
- Customer-focused: respond promptly to requests from other teams and senior leaders; and explain complex financial information clearly
- Results-oriented: complete financial models, forecasts, reconciliations, and reports accurately and on time; and use data and evidence to assess underwriting performance, reserve adequacy, financial trends, and business risks.
- Integrity: handle financial, claims, audit, regulatory, and business data with care and confidentiality; and report findings honestly, even when the results are unfavourable.
- Innovation: identify opportunities to automate manual reporting and reduce processing time and use technology and actuarial tools to improve analysis and reporting.
- Teamwork: share financial insights that help other teams understand performance, risk, and business impact; and request input when analysis depends on information from other departments
- Transparency: provide clear commentary on financial results, trends, variances, unusual movements, and business risks; and explain assumptions used in models, forecasts, reserves, and scenarios
Applications must be include the following:
- Cover Letter
- Curriculum Vitae
Applications should be submitted no later than 5:00pm on Friday, June 5, 2026, via email to [email protected]. Your application will be formally acknowledged, if you are shortlisted for an interview.
