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 $55 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 Senior Associate, Treasury Derivative Operations will report to the Assistant Vice President of New Business Evaluation and Integration. The position be responsible for managing daily derivatives trade capture, systems implementations in Bloomberg AIM, and cash payment and collateral operations for the Fortitude group of companies. Fortitude Re is in an active growth phase and has implemented in-house derivatives trading, is on-boarding new portfolios, new cleared and non-cleared derivatives products and other trading functions. The Senior Associate, Treasury Derivative Operations will join a dynamic team-oriented treasury group and work closely with the broader Finance team and the Investments team. This role will be based in our Jersey City office on a hybrid basis.
- Act as central point of contact for counterparty support personnel: manage collateral postings and margin calls in accordance with ISDA agreements and other requirements
- Monitor, review, and validate all in-house derivative trades and ensure they are accurately recorded and reported
- Review all hedging programs and trade decisions to ensure trades are properly classified
- Liase with Investment Accounting and Investment Operations to support any needs
- Participate in daily derivatives call and interact with traders on upcoming transactions
- Assist the Head of Treasury Management Systems with SAP TMS testing and documentation
- Evaluate market rate changes and potential impact to hedges and other collateralized positions
- Management of FCM and ISDA legal documents
- As necessary, coordinate with the Treasury Head of Borrowing Programs to execute repo and FHLB secured borrowings on a committed and uncommitted basis
- Assist Treasury team with risk and control assessments and implement improvements as identified
- Maintain, update and standardize all Treasury related documentation, (operations procedures, outstanding agreements, banking policies)
- Stay up to date with regulatory changes affecting the derivatives markets
- Bachelor’s degree. Advance degrees or certifications (e.g., CFA, CTP) a plus but not required
- 5+ years derivatives-related work experience: interest rate swaps, swaptions, FX, equity futures, options, interest rate caps/floors, interest rate futures, equity | UST total return swaps
- Proficiency in Bloomberg (e.g. multi-asset risk systems, FX confirmation and settlement, AIM)
- Prior work experience in a Treasury department is a plus
- Knowledge of fixed income assets, debt, cash flow forecasting and liquidity management preferred.
- Understanding of ALM concepts/disciplines
- Prior experience with SAP treasury management workstation and/or Clearwater investment accounting platform is preferred
- Basic knowledge of ISDA/CSA and FCM documentation
- Advance Microsoft Office skills including Excel and PowerBI
- Be a team player with ability to work collaboratively in-person and from remote locations.
- Demonstrate ability to handle complex problems
- Detail oriented, highly organized, and ability work under tight deadlines
- Takes initiative and is accountable
- Possess strong communication and analytical skills.
- Participate in department and cross-functional projects
#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.
Base Salary Range
$110,000—$130,000 USD
We offer our employees competitive benefits in a fast-paced, dynamic and nimble culture including:
- Unlimited PTO policy
- Up to 12 paid company holidays
- Up to 16 hours per year of paid volunteer time
- Competitive 401(k) plan - US Employees Only
- Paid parental leave
- Learning and Development Stipend
- Mental Health and Wellbeing support
- Health, vision, dental, and life insurance with additional access to health and wellness programs
- Flexible working environment
- Actuarial Exam Support through our Actuarial Development Program (ADP) for Actuarial employees
- Actuarial Program Rotation for ADP employees
- For all Actuarial Life AVP and above roles based out of our Nashville, TN office: 30% travel is required to our Nashville, TN office
At Fortitude Re, we believe that diversity and inclusion are critical to our future and our mission- creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.
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.
: 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)
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
