VP, Fixed Income & Capital Solutions

Fortitude Re•Jersey City, NJ

2d•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 VP, Fixed Income & Capital Solutions is responsible for the development and execution of Fortitude Re's fixed income co-investment program and structuring solutions initiatives, with a mandate to drive capital efficiency across the insurance balance sheet. The role encompasses developing co-investment strategy, designing and executing bespoke structuring solutions, and implementing end-to-end solutions across both mandates. This role will also contribute to the oversight and surveillance of the company's public and private fixed income portfolios. This is a senior-level role requiring thought leadership, ownership of complex investment initiatives, and the ability to shape and execute strategic capital deployment decisions across Fortitude Re's insurance balance sheet. The VP will play a critical role in the long-term development and refinement of the co-investment and structuring platforms, with a mandate to institutionalize both programs and influence enterprise-wide capital allocation and efficiency strategies. This role will be based in our Jersey City, NJ office on a hybrid basis.

Requirements

Bachelor's degree in finance, economics, or a related discipline; CFA charter holder or advanced degree strongly preferred.
10 years of experience in investment management, portfolio analysis, structured finance, or a related role, with significant exposure to fixed income investments and insurance capital solutions.
Deep understanding of fixed income markets and instruments; familiarity with insurance capital frameworks (e.g. Bermuda/BSCR, RBC), reinsurance structures, or other capital efficiency mechanisms is a strong plus.
Experience with structuring transactions — such as collateralized arrangements, fund financing, reinsurance structures, or similar — with an understanding of how structure impacts risk, return, and regulatory capital treatment.
Strategic judgment and analytical abilities to assess investment and structuring proposals, identify risks, and make clear recommendations aligned with institutional objectives.
Proficiency in portfolio performance monitoring and risk analysis, with strong command of relevant tools (e.g., advanced Excel, Bloomberg, Aladdin, or other platforms).
Proven ability to manage relationships with external asset managers, reinsurance counterparties, and structuring advisors, with the ability to evaluate and influence their performance to meet our objectives.
Excellent communication and interpersonal skills, including the ability to present complex investment and structuring insights to senior leadership and build effective working relationships across teams and with external partners.
Experience presenting investment and structuring recommendations to senior leadership or investment and capital committees, comfort having your ideas collegially challenged, and ability to defend your rationale with rigor.
Ability to manage multiple projects and deadlines in a dynamic, fast-paced environment, demonstrating strong organizational and time management skills, while able to manage multiple internal stakeholders and external partners.
Leadership qualities, including a proactive approach and the ability to mentor others; prior team management experience is an asset but not required.

Nice To Haves

CFA charter holder or advanced degree strongly preferred.
Familiarity with insurance capital frameworks (e.g. Bermuda/BSCR, RBC), reinsurance structures, or other capital efficiency mechanisms is a strong plus.
Prior team management experience is an asset but not required.

Responsibilities

Lead the development and execution of Fortitude Re's fixed income co-investment strategy, sourcing and evaluating new opportunities across a range of fixed income sectors.
Lead the management of co-investment opportunities, including developing strategy, tracking performance, and making tactical adjustments as needed.
Drive the strategic design and evolution of the co-investment platform, identifying and prioritizing investment themes, asset manager partnerships, and sourcing models that align with long-term enterprise objectives.
Develop and maintain a roadmap for scaling the program, introducing best practices in governance, deal execution, and risk management.
Develop and lead Fortitude Re's structuring solutions capabilities, identifying and executing transactions designed to enhance capital efficiency across the insurance balance sheet. This includes evaluating and implementing solutions such as collateralized financing arrangements, and other bespoke capital optimization transactions in coordination with other groups within the company.
Assess capital efficiency implications of structuring decisions, incorporating regulatory capital frameworks (e.g., Bermuda/BSCR, RBC) into portfolio construction and transaction analysis to optimize risk-adjusted returns on a capital-adjusted basis.
Conduct ongoing portfolio surveillance and performance analysis across fixed income holdings, evaluating returns, risk metrics, and attribution to identify trends, risks, and opportunities for improvement.
Contribute market insights and produce investment recommendations to optimize overall portfolio construction, with an explicit lens on capital efficiency and balance sheet optimization.
Collaborate with external asset managers, reinsurance counterparties, and structuring advisors to source, structure, and execute co-investment and capital solutions transactions aligned with Fortitude Re's risk, return, and governance standards.
Engage with and direct external partners, clearly communicating investment and structuring objectives and ensuring alignment with overall portfolio strategy.
Present co-investment proposals and structuring recommendations to internal governance bodies, including investment, risk, and capital committees, with confidence and the ability to respond to rigorous questioning.
Lead legal document review in support of co-investment and structuring transactions, including investment memos, term sheets, subscription agreements, reinsurance treaties, and other transaction documentation in coordination with internal counsel.
Oversee co-investment due diligence activities across internal stakeholders (investments, legal, tax, accounting, actuarial, operations), ensuring thorough and timely evaluation of each opportunity.
Ensure co-investment and structuring activities are consistent with the overall investment strategy and regulatory requirements applicable to insurance company portfolios.
Oversee the preparation and delivery of regular reports on portfolio performance, risk exposures, capital efficiency metrics, and key findings to senior management and investment committees, engaging with internal teams (e.g., Risk Management, Finance, Actuarial, Investment Analytics).
Provide mentorship and guidance to junior investment team members, fostering a collaborative environment; may have supervisory responsibility for analysts or other staff depending on team structure.