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 Actuarial Associate, Valuation candidate will be a key member of the Fortitude Valuation team, which serves the company by supporting valuation and financial reporting requirements for US GAAP and statutory accounting for reinsurance and acquired businesses. This position will report to the AVP, A&H Valuation and QA Lead. Responsibilities include accident and health valuation and financial reporting (cancer, disability, and long-term care products), and quality assurance support in support of our internal controls, policies, and governance.
The position is located in the Fortitude Re Nashville, TN office on a hybrid schedule with minimal travel expected (0%-15%).
What You Will Do:
- Support the valuation (GAAP including LDTI, Statutory and Tax) requirements for Fortitude’s reinsurance transaction, while aligning to corporate and accounting policies, control framework and procedures.
- Prepare workpapers, develop actuarial memoranda, perform technical and peer reviews, review and analyze data and models.
- Perform analytics and prepare analysis of reserves and financial results.
- Enhance the risk and control framework.
- Assist in process improvement efforts including automation and process enhancements for quarterly valuation, and the streamlining of control support validation.
- Assist in responding to internal and external auditor requests.
What You Will Have:
- At least three years of progressively more responsible actuarial experience with Life Insurance, Annuity products or ALM equivalent environment.
- Associate of the Society of Actuaries (ASA).
- Experience with valuation and financial reporting, ideally including health products such as LTC and Individual Disability, and exposure to LDTI.
- Experience with actuarial modeling, ideally including Moody’s AXIS.
- High degree of proficiency in working with data and calculations in MS Excel and database environments; programming languages are a plus.
- Strong analytical skills and ability to adopt a creative approach to solving complex problems.
- Ability to manage multiple work assignments and meet time commitments.
- Strong oral and written communication skills across in-person and audio/video call environments, email and Teams platforms, and actuarial memoranda using MS Word.
- Undergraduate degree is required, preferably in actuarial science or a related field.
- The base salary range for this role is listed below and will be commensurate with candidate experience and actuarial exams passed.
#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.
What We Offer:
We offer 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 not 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.
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.
