As one of the world’s premier offshore financial centres, Bermuda has plenty of job openings for accountants. There simply aren’t enough qualified Bermudian accountants to fill the many vacancies on offer.
Openings for Newly Qualified Accountants
To satisfy work permit regulations applicants must have (or be in the final stages of getting) a recognised accounting or finance qualification (ACA, CA, ACCA, CPA, CGA etc.), fluent English, and several years relevant experience. Applicants for trainee accountant positions must be Bermudian or have Bermudian status.
The ‘Big 4’ (Deloitte, Ernst & Young, KPMG, and PricewaterhouseCoopers) all have offices on the island. Many newly or recently qualified arrivals start work with one of these companies, typically taking a role as an audit senior, before being promoted to manager or moving into a commercial role. Successful applicants usually have a couple of years experience in a public accounting firm with significant time spent on audit assignments.
Clients of the ‘Big 4’ companies typically include hedge and mutual funds, insurance and reinsurance companies, and banks. Most use UK, US or Canadian GAAP so familiarity with these is an advantage (but not a requirement).
Recruitment for audit senior roles tends to be seasonal, with large intakes in the autumn. Contracts are typically for 2 years.
Many of the ‘Big 4’ also employ newly qualified accountants to work with their clients on secondment. Clients are typically banks, hedge and mutual funds, and insurance/reinsurance companies. Prior financial services experience is not required but strong accounting skills are.
Working on secondment is a great opportunity to experience working life in a variety of companies before committing to a permanent role. Many secondment seniors are offered positions by clients at the end of their contract.
Not all newly qualified accountants start the working lives in Bermuda with one of the ‘Big 4’. There are numerous other positions available in fund accounting, trust accounting, internal audit, and more.
Opportunities for Experienced Qualified Accountants
Roles for experienced qualified accountants are plentiful and diverse. There are always openings for audit managers, tax managers (US), internal auditors, financial controllers, analysts etc.