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. Click here for more information about Fortitude Re.
The Assistant Vice President, Quality Assurance oversees the Quality Assurance team that is responsible for overseeing the creation, maintenance and documentation for the first line independent testing and validation of Company Actuarial models that are used for GAAP, Stat and Bermuda EBS reporting. The role will report to the VP, Valuation Actuary but the scope of the models subject to independent testing will span beyond variable annuities and across Fortitude Re's entire portfolio. The role will interact with Enterprise Risk Management as well as first line valuation and modeling teams to ensure satisfactory delivery of Testware.
What You Will Do:
- Lead and participate in the development of internal Testware to validate AXIS/Atlas model cash flows, GAAP reserves and/or Stat reserves as applicable.
- Oversee maintenance of Testware on an ongoing basis and testing of periodic model changes.
- Develop prioritization plans around development of Testware for new products as well as re-validation of Inforce business.
- Represent independent Quality Assurance / Model Validation function during Transaction Onboarding process.
- Maintain FLIAC's Risk Control Matrix (RCM).
- Manage a team of actuaries and actuarial students.
What You Will Have:
- An undergraduate degree is required with preference for mathematic, actuarial sciences, and other quantitative fields.
- This individual will be a Fellow of the Society of Actuaries (FSA), an Associate of the Society of Actuaries (ASA), or an international equivalent designation with 7+ years of experience in the Life and Annuity insurance industry.
- Experience managing a small team with the ability to mentor and develop Actuarial Staff.
- Experience and proficient knowledge in US Statutory or US GAAP accounting frameworks for variable annuities, traditional annuities and/or life insurance products.
- Experience and proficient knowledge of actuarial modeling software, Moody's GGY AXIS a plus.
- Strong technical skills in Excel, Python and/or SQL.
- Demonstrated success working in collaborative teams and in working with cross-functional teams.
- Ability to lead change and projects.
- Experience with financial reporting controls in the insurance industry a plus.
#LI-Hybrid
The base salary range for this role is listed below and will be commensurate with candidate experience. Pay ranges for candidates may differ based on the cost of labor in that location. In addition to base salary, all employees are eligible for an annual bonus based on company and individual performance as well as a generous benefits package.
At Fortitude Re, our strength has always come from our people. Our success is deeply rooted in our ability to embrace the unique attributes, perspectives and experiences of every individual within our company. Fostering a culture of inclusion and belonging where everyone—regardless of background, race, religion, sexual orientation or gender identity—feels valued and respected is a foundation of our culture.
We are committed to being an equal opportunity employer and evaluate qualified applicants without regard to race, color, religion, sex, pregnancy (including childbirth, lactation and related medical conditions), national origin, age, physical and mental disability, marital status, sexual orientation, gender identity, gender expression, genetic information (including characteristics and testing), military and veteran status, diversity of thought and any other characteristic protected by applicable law.
To all recruitment agencies: Unless you have been requested to work on this position, or other positions with Fortitude Re, please do not forward any resumes to Fortitude Re employees. Fortitude Re is not responsible for any fees related to unsolicited resumes.
Check us out on YouTube: About Fortitude Re (youtube.com)
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What We Do
Born as an innovative system integrator in 2009, Databiz evolves in 2018 into a holding company (Databiz Group), in order to scale fast and face the evolving market scenario. 2021 is a milestone year: Databiz Group transforms into Fortitude Group, aggregating innovative competences and methodologies to address the contemporary digital transformation challenges. This rename and rebrand represents a significant step in the company’s evolution, redefining the Group’s identity, driving change and shaping the future of the entire ICT landscape. The Group includes: - Bitrock - Radicalbit - ProActivity
