Neil Joynson

Experience

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  Haslam Tunstall Chartered Accountants

  Aug 1995 - Sept 1999

  Audit Senior
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  PwC

  Sept 1999 - Aug 2001

  Audit Manager / Audit Senior

  Responsible for extensive client portfolio including several large clients in the international insurance and reinsurance market, as well as local clients and non-profit organisations.Planning and execution of GAAP and Statutory audits of reinsurance clients, including review of compliance with US and Canadian GAAP accounting standards, and review and testing of internal control procedures.Training, coaching and mentoring of lesser experienced staff, and presentation of in-house training courses to all staff levels. Show less

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  Novus Management Limited

  Sept 2001 - Nov 2005

  Director / Vice President Finance

  Responsible for Financial Reporting for portfolio of Bermuda and Cayman Islands domiciled insurance clients, including reinsurance, brokerage, rent-a-captive and captive management companies. Preparation of stand-alone and consolidated US GAAP financial statements for each entity, as well as preparation of quarterly Management Accounts, performance and variance reports.Preparation of Statutory Financial Statements for Bermuda insurance entities, including responsibility for liaison with local auditors and Bermuda Monetary Authority.Responsible for control and implementation of various forensic accounting projects for reinsurance clients in run-off. Assignments involve detailed examination of historical accounting entries, analysis of financial and underwriting performance, and design of new accounting systems and controls to address identified weaknesses.Responsible for cash management function for each client, including preparation of budgets, supervision of accounts payable & receivable functions, and liaison with local and international banks.Responsible for financial planning and financial reporting of Novus Management Limited. Show less

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  Capita Insurance Services

  Mar 2006 - Jun 2009

  Senior Commutation Manager

  Direct management and successful completion of several complex commutations on behalf of the Scheme Administrators of the insolvent HIH Group, including the then two largest reinsurance debtors of the EstateValuation of reinsurance portfolios, including contract and financial reconciliations and negotiations with counter-parties, claims reviews, technical reinsurance calculations and liaison with actuarial consultants to establish IBNR estimates. Key classes of reinsurance considered included CTP, Workers’ Compensation, Professional Indemnity and Public Liability.Responsible for recommending alternative collection strategies to Scheme Administrators, including conventional credit control, arbitration, mediation and litigation. Provision of information and support to legal providers to facilitate successful completion of such alternative strategies.Project-management of numerous data-cleansing projects which has led to significant improvements in the quality of the historical reinsurance data. Recommended and implemented various improvements to data reporting systems and internal controls.Completion of due diligence reviews, internal control reviews, and tenders for non-HIH clients and potential clients of Capita. Show less

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  McGrathNicol

  Sept 2009 - Nov 2015

  Senior Manager

  Key role in the management of the Liquidation and Scheme of Arrangement of the insolvent HIH Insurance Limited group, Australia's largest corporate insolvency.Responsibility for the oversight and direction of the in-house HIH Insurance Limited group reinsurance team.Project management of reinsurer commutations, including oversight of the valuation and reconciliation processes; direction of actuarial and legal advisors; negotiation and conflict resolution with reinsurer counterparts; and securing necessary approvals from HIH’s Creditors’ Committees and various State government insurance authorities. Development of a detailed end-to-end process to facilitate the calling-for, submission, evaluation and finalisation of Proofs of Debt in the HIH estate. Direction of several legal actions on behalf of the HIH Scheme Administrators, including cases heard under Section 562A of the Corporations Act, which created legal precedent in Australia. Involved analysis of relative strengths and weaknesses of plaintiffs’ and defendants’ legal positions and assisting legal advisers and counsel in preparation of affidavits and submissions to Court. Providing industry expertise to the forensic accounting team in conducting a fraud-risk and claims leakage assessment for a major New Zealand based general insurer in response to its exposures to the 2010/2011 Canterbury earthquakes. Show less

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  EY

  Jan 2017 - Sept 2019

  Senior Manager - Restructuring

  Senior Manager within the Transaction Advisory Services division of EY, specializing in insurance and reinsurance restructuring, insolvency and run-off. Providing professional advice to clients in Bermuda and the Caribbean region, including the Cayman Islands, Bahamas and the British Virgin Islands.Highlights of my experience include the successful internal restructuring of a major Bermuda and US captive insurance group; managing the liquidation of a Nevis-based general insurer, and advisory projects in connection with the insurance industry's response to the 2017 hurricanes Maria and Irma in the Caribbean. Show less

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  Acumen Group

  Oct 2019 - Jun 2021

  Senior Consultant

  Responsible for management of a portfolio of Insurance Management clients, including Class 3A, Class 3B and Managing General Agency entities licensed by the Bermuda Monetary Authority. Including oversight of preparation of GAAP financial statements and Statutory filings; and design and implementation of end-to-end governance structures in compliance with the Insurance Code of Conduct.Performance of Executive Directorship and Officer roles for client entities, including acting as Chief Financial Officer, Compliance Officer, MLRO and Data Privacy Officer.Preparation of BSCR filings for Class 3A, 3B and Class 4 licensed clients, including design of process, project management of deliverables and liaison with the Bermuda Monetary Authority, external actuaries and client finance, risk-management and underwriting teams. Consulting support for clients applying for a BMA insurance license, including design and preparation of financial forecast models and business plans, and preparation of proforma BSCR projections. Implementation and integration of accounting and other software systems for Acumen and client portfolio.Performance of due diligence and pricing model preparation for run-off acquisition targets of AcumenManagement of finalization process for Class 3A clients in run-off including policy coverage reviews; design and implementation of commutation strategy with insured counterparts; oversight of capital-reduction and deregistration applications to the BMA; and liaison with Liquidators to effect liquidation and dissolution of companies.Appointment as Liquidator under Companies Act 1981 for clients seeking to dissolve under a Members Voluntary Liquidation, and management of end-to-end Liquidation process. Show less

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  Frontier Bermuda

  Aug 2021 - Jul 2023

  Reinsurance Consultant

  Financial Controller and Chief Compliance Officer for a Class E Bermuda Long Term Reinsurer client, Langhorne Re BermudaRole includes oversight, review and management of outsourced accounting team engaged in preparation of US GAAP and Bermuda Statutory financial statementsEngaged in the design, improvement and documentation of client internal control and compliance frameworks to ensure compliance with legal and regulatory requirements.

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  Reinsurance Group of America, Incorporated

  Jul 2023 - now

  Chief Compliance Officer for RGA’s two Bermuda Class E long-term licensed reinsurers, RGA Global and RGA Americas, representing assets in excess of $50 billion.Oversee the regulatory compliance requirements in Bermuda, working directly with the BMA to clarify requirements, ensure all submissions are done timely, and responding to regulatory inquiries and regulatory requests. Undertake monitoring of Bermuda’s regulatory and legal landscape, including regulatory changes introduced by the BMA, PIPA and Corporate Income Tax. Assess impact to RGA, communicating impact to senior leadership and co-ordinating RGA response to changes.Designated Risk Compliance Officer (“RCO”) for Bermuda operations. Involves being SME for Bermuda regulatory and compliance related queries for RGA worldwide. Show less

  • Chief Financial Officer - Bermuda Operations

    Jul 2024 - now

  • Chief Compliance Officer, RGA Global Reinsurance Company Ltd

    Jul 2023 - Jul 2024