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 AVP, Financial Controls specializes in the establishment and maintenance of the Company’s Internal Control over Financial Reporting (ICFR) Program in accordance with the applicable Standards and Guidance issued by the Securities and Exchange Commission (SEC) and the Sarbanes Oxley Act of 2002 (SOX). This role is also responsible for the implementation of the Company’s internal control over US Statutory reporting programs in accordance with the Model Audit Rule (MAR) of the National Association of Insurance Commissioners. This position will also lead the development and integration of the Bermuda Monetary Authority (BMA) financial reporting requirements, into the Company’s ICFR Program.
The position will partner with the business to lead continuous improvement of the ICFR Program. The position will be responsible for effectively managing the annual ICFR program and will partner across the organization to identify opportunities for innovation and increased efficiency through automation, to promote the delivery of reliable and timely financial information.
The continued advancement of the Company’s ICFR Program in parity with SOX, MAR and BMA requirements is an important strategic priority for the Company, that crosses all functions and activities within the organization. This position will have significant interaction with senior leadership, including Controllers, Operations, People and Culture, Legal and Compliance and Line of Business or Segment leaders. The position reports to the SVP, Head of Finance Operations.
What You Will Do:
Lead certain areas of the annual ICFR Program risk assessment and scoping process including monitoring significant changes and evaluating and reporting identified control deficiencies.
Partner with the Business to support the remediation of significant deficiencies and material control weaknesses and external auditors in the public company readiness assessments.
Engage with internal and external auditors in the execution of their work, to promote efficiencies through increased reliance on internal controls.
Develop ICFR Program communications for key stakeholders including the ICFR and Audit Committee.
Assist in the development and implementation of the internal controls testing function, including establishing protocols for testing financial reporting controls, ongoing monitoring and overseeing the remediation of identified deficiencies.
Seek uniformity and automation of controls across the Company through efficient use of financial systems and innovative technology to enhance and continuously improve the design and effectiveness of controls, including efficiencies in the documentation, assessment, and testing of controls.
Supports our core values by communicating and teaming effectively across different cultures and levels within the organization.
What You Will Have:
Bachelor’s degree or higher in accounting.
CPA, Chartered Accountant or equivalent.
Six (6) or more years of experience in the Life & Annuities industry, with a focus on public companies.
Strong understanding of and ability to apply relevant US GAAP and US Statutory Accounting Principles and reporting requirements.
Clear and professional verbal and written communications.
Strong interpersonal, collaborative and conflict resolution skills.
Ability to effectively design and present information to senior management, auditors and business partners.
Ability to define problems, collect data, establish facts and draw conclusions.
Agility and ability to work effectively both as part of a team and independently.
Keeps current on best practices and latest thinking regarding processes and controls.
#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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Skills Required
- Bachelor's degree or higher in accounting.
- CPA, Chartered Accountant or equivalent.
- Six or more years of experience in the Life & Annuities industry with a focus on public companies.
- Experience establishing and maintaining an ICFR program and applying SOX requirements.
- Knowledge of US GAAP and US Statutory Accounting Principles and reporting requirements.
- Experience with US Statutory reporting programs and Model Audit Rule (MAR) requirements.
- Experience integrating Bermuda Monetary Authority (BMA) financial reporting requirements into controls programs.
- Experience engaging and coordinating with internal and external auditors and supporting remediation of control deficiencies.
- Ability to develop and deliver ICFR communications to senior stakeholders and audit committees.
- Experience designing and implementing internal controls testing, ongoing monitoring, and remediation protocols.
- Familiarity with financial systems, control automation, and process improvement initiatives.
- Strong verbal and written communication skills.
- Strong interpersonal, collaborative, and conflict resolution skills.
- Ability to define problems, collect data, establish facts, and draw conclusions.
- Ability to work both independently and as part of a team; agility in cross-functional environments.
- Keeps current on best practices and latest thinking regarding processes and controls.
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
