Jason Pethick, CPA, CA

Experience

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  Deloitte & Touche (Kitchener, Ontario)

  Mar 1997 - Nov 1998

  Audit/Tax Associate
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  PricewaterhouseCoopers (Bermuda)

  Nov 1998 - Jul 2000

  Audit Senior
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  CUMIS Insurance (Burlington, Ontario)

  Sept 2003 - Nov 2004

  Senior Financial Analyst
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  Meridian Fund Services Limited

  Nov 2004 - Jun 2009

  Senior Vice President - Fund Services

  • Senior manager responsible for Bermuda operations of a global hedge fund administration firm with USD $9 billion in net assets under administration and 40+ staff in four countries• Member of company’s executive management team, responsible for development of global business plan and overall delivery of client service• Instrumental in successfully leading firm through its first SAS70 Type I and Type II audits, including documentation and evaluation of company-wide internal controls to ensure consistency across the group• Served as authorized signatory on all offshore funds and as an officer on largest client Show less

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  Axis Capital

  Jul 2009 - Apr 2014

  VP, Investment Controller

  • Leader of centralized investment accounting team responsible for both internal and external financial reporting for entire group portfolio of an SEC registered, Class 4 Bermuda re/insurance company• Investment portfolio of approximately USD $14 billion, consisting primarily of fixed maturities but also common stock, exchange-traded funds, hedge funds and derivatives such as foreign exchange forwards• Instrumental in establishing a strong, dedicated investment accounting function through enhancement of other- than-temporary impairment (OTTI) processes and establishment of many new control procedures (e.g. regular pricing review of all security types, quarterly analytics for senior management, reliance on third party pricing)• Key contributor to company’s Disclosure Committee which reviews and approves all SEC filings, press releases and financial supplements which covers insurance, reinsurance and investments• Member of Technical Accounting Group responsible for assessing impact of new guidance on the company (insurance, reinsurance or investments), prescribing accounting treatment for new or unusual transactions and maintenance of the company’s Group Accounting Policy Manual• Draft all technical accounting memos relating to investments (e.g. adoption of new ASC 820 Fair Value Measurement disclosures as prescribed by ASU 2011-04) and provide expert advice on accounting treatment of new security types (e.g. bond mutual funds, TIPS, CLO debt held-to-maturity)• Responsible for investment regulatory reporting in Bermuda, Canada, Australia and the United States• Establish and maintain strong working relationships with both internal colleagues (e.g. legal entity finance, re/insurance teams and investment management) and external business partners (e.g. auditors, regulators) Show less

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  BMO Financial Group

  Jan 2013 - now

  Independent Director and Country General Manager

  • Director and general manager for three Bermuda-domiciled subsidiaries of the BMO Financial Group, one holding company for two Barbados-domiciled operating companies (reinsurance and banking) and two financing companies• Worked with company's executive team and legal counsel on capital restructuring of two companies (in 2013 and 2019) which resulted in more tax-efficient use of capital while maintaining sufficient capital for regulatory purposes• Experienced in compliance with Bermuda economic substance requirements• Chair Board of Directors meetings, as necessary Show less

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  Kaleidoscope Arts Foundation

  Nov 2013 - Oct 2022

  Treasurer, Board Member

  Empowering Children Through ArtKaleidoscope Arts Foundation is dedicated to inspiring learning and development in children, artists and the community through its Art Centre by:• Providing diverse and unique arts education programmes• Facilitating creative community arts exhibits, events and discussions• Offering a nurturing environment for the creation of artI am a member of KAF's Board of Directors and serve as their Treasurer which involves preparation of the charity's annual financial statements for filing with the Bermuda Charities Commission and working with the Executive Director to carefully managing the charity's resources. It also involves attending monthly Board meetings to provide oversight of the charity's general activities. Show less

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  Maritime Finance Company Ltd.

  May 2014 - Dec 2018

  Chief Accounting Officer

  • Established financial reporting function of company launched with $580 million in equity with mandate of investing in high yield corporate debt backed by maritime assets (e.g. drill ships, support vessels, offshore oil rigs)• Formed Valuation Oversight Group consisting of key company personnel (including CEO/CIO, CFO) which was responsible for security valuation, including other-than-temporary impairment (OTTI) decisions• Drafted all memos relating to accounting policy, including hedge accounting for foreign currency cash flow hedges, share-based compensation and accounting treatment of new or unusual transactions (e.g. business combination)• Instituted internal controls framework for company with a focus on safeguarding assets and financial reporting• Key contributor to the budget and forecasting process, working with all stakeholders to estimate revenues, operating expenses and timing of cash flows• Responsible for operations in both Bermuda and U.S., including trade execution, payroll and Treasury functions• Established and maintained strong working relationships with external business partners (e.g. auditors, banks) Show less

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  StarStone Insurance

  Aug 2019 - Dec 2020

  • Responsible for U.S. GAAP and Bermuda statutory (BSCR) reporting for a Class 4 Bermuda re/insurance company with consolidated assets of $3.8 billion and annual gross written premium in excess of $900 million across a wide variety of lines of business (mainly property, casualty, energy), primarily covering insureds in the United States and Europe• Providing support to parent company’s 10K/10Q reporting as a segment of a SEC-registered company (Enstar Group Limited, NASDAQ: ESGR)• Responsible for building and maintaining strong relationships with both internal (e.g. executive team, internal audit, actuaries, underwriters) and external (e.g. external audit, regulators, brokers) stakeholders• Provided executive team with recommendations on accessing liquid assets to meet funding requirements of subsidiaries under regulations of NAIC and Lloyd’s• Drafted memos outlining accounting treatments of new or unusual transactions (e.g. goodwill, loss portfolio transfers)• Responsible for evaluating, documenting and improving processes and controls in accordance with internal control framework and Sarbanes-Oxley Show less

  • Finance Director

    Apr 2020 - Dec 2020

  • Finance Director (Contract)

    Aug 2019 - Apr 2020
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  Hamilton Princess & Beach Club, a Fairmont Managed Hotel

  Jan 2021 - now

  Director of Finance & Business Support