AVP, Capital Management Strategic Projects

Fortitude Re • Jersey City, NJ

1d • Hybrid

About The Position

Fortitude Reinsurance Company Ltd. (Fortitude Re) is one of the world’s leading providers of legacy reinsurance solutions. They work with the world’s leading insurance companies to help them execute comprehensive, transformational solutions for legacy Life & Annuity and P&C lines. Fortitude Re manages a general account of approximately $111 billion across life, annuity, and property & casualty insurance products. The company takes a long-term view on growth and is proud to be backed by a consortium of sophisticated institutional investors led by The Carlyle Group and T&D Insurance Group. Incorporated under the laws of Bermuda on January 1, 2017, Fortitude Re’s roots in the insurance industry and the experience of their leadership go back many decades. Fortitude Re’s leadership team has an average industry tenure of over 20 years, and an impressive track record of successfully managing the most complex legacy liabilities. Their deep insurance experience and proprietary risk modeling capabilities allow them to structure bespoke transactions that benefit both insurance companies and their policyholders. Fortitude Re continues to strengthen its ability to pursue further growth and provide innovative solutions for the global insurance industry. The AVP, Capital Management Strategic Projects will be a member of Fortitude Re’s Capital Management team, which serves the company by reporting and monitoring capital in alignment of regulatory reporting, strategic planning, and potential market expansion needs. The primary responsibility of the position will be to focus on strategic initiatives across all capital management and reporting functions. The position is expected to work closely with departments across the organization including actuarial, finance, investments, and pricing teams.

Requirements

• Qualified Fellow of the Society of Actuaries or Institute of Actuaries or career ASA with 7+ years of experience post ASA.
• 8+ years of insurance experience.
• Working knowledge of regulatory capital (e.g. US RBC, Bermuda EBS, Solvency II) and rating agency capital (e.g., Fitch Prism, AM Best BCAR).
• Undergraduate degree is required.
• Significant working experience with AXIS or similar actuarial projection software.
• Experience with financial analysis of income statement, balance sheet and capital projections.
• Experience with actuarial projection or valuation software, database applications, business intelligence tools.
• Good analytical skills and ability to adopt a creative approach to solving complex process problems.
• Ability to manage multiple work assignments and meet time commitments.
• Strong oral and written communication skills.

Nice To Haves

• Focus on valuation, modeling or capital management within insurance experience.
• Undergraduate degree preferably in actuarial science, mathematics, economics, or related fields.

Responsibilities

• Support capital optimization efforts across entities and regulatory regimes, including economic framework and internal model initiatives.
• Support Bermuda regulatory initiatives including establishing production processes for group supervision, evaluating and implementing changes to the regulatory regime, and leading internal capital model development.
• Implement transformations within capital management across all functional areas to improve system and modeling capabilities and deliver reporting timeline efficiencies.
• Support model validation and governance efforts to ensure robust control framework, transparency and documentation of critical models within capital management function.
• Support company growth initiatives by evaluating new business including reinsurance and acquisition to ensure capital is appropriately valued with respect to pricing standards and inforce reporting.
• Support efforts for new business across all capital management functions to ensure successful transition from pricing to inforce reporting.
• Collaborate with ALM team on asset deliverables.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Number of Employees: 1-10 employees