[ 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.

We are seeking a Senior Actuarial Associate, Life - Variable Annuity Quality Assurance with experience utilizing the actuarial financial models and financial analysis. The candidate has prior experience with the AXIS or other actuarial models through a modeling, financial reporting, risk/strategy, or financial analysis role, and is looking to quickly grow their skillset and contribute in a fast-paced environment. The candidate must have excellent communication skills and the ability to interact with a team effectively. This role will report to the QA leader. The QA team is responsible for first line independent testing and validation of the variable annuity (VA) models (used for GAAP, Statutory, hedging and embedded value for the FLIAC VA block) and several other lines of business. This role will be an integral part of the actuarial models QA team for the FLIAC VA block and other Fortitude Re blocks of business. This role will support the development and maintenance of Testware used to validate the applicable models.

What You Will Do:

• Develop and execute a quarterly process to provide an ongoing validation of the data and AXIS financial reporting models.
• Develop, improve upon, and utilize internal Testware to validate AXIS model cashflows, statutory reserves, etc.
• Ensure the sample sets of policies tested with the Testware cover the material risks and business profile of the company.
• Leverage product documentation to audit the AXIS model and identify the high risk model areas while ensuring compliance with all validation requirements.
• Report findings to the modeling and data teams in a timely manner to ensure fixes can be implemented.
• Perform risk reviews of model changes in accordance with model governance requirements.
• Take ownership of the work product and foster rich relationships with both the modeling and data teams.
• Liaise with management, external auditors, internal audit, SOX teams, and the Model Steering Committee, as needed.
• Continuously improve efficacy of the testing process.
• Provide management reporting and analysis, as needed.
• Address Actuarial requests and ad hoc requests from stakeholders, as needed.
• Collaborate with 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. The candidate has a successful exam track record and must be an ASA
• Minimum of 3 years of actuarial experience in the Life and Annuity insurance industry
• Exposure to US Statutory or US GAAP accounting frameworks or experience with modeling is required
• Strong technical skills in Excel, Python and/or SQL; experience with actuarial modeling software
• Demonstrated success working in collaborative teams and in working with cross-functional teams
• Familiarity with a majority of Life Products (e.g. Term, Whole Life, Universal Life, Deferred Annuities); A&H or LTC a plus
• Entrepreneurial spirit
• Desire to work in a 'start-up' environment
• Desire to deliver a complete work product
• Strong oral and written communication skills
• Organized and strong sense of urgency
• Highly motivated and results-oriented
• Strong analytical skills
• Ability to work independently

The base salary range for this role is $107,202.00 - $140,572.00 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.

We offer competitive benefits in a fast-paced, dynamic and nimble culture including:

• Actuarial exam support through our Actuarial Development Program
• Actuarial Program Rotation
• Unlimited PTO policy
• Up to 11 paid company holidays
• Up to 16 hours per year of paid volunteer time
• Competitive 401(k) plan
• Paid parental leave
• Tuition reimbursement
• Health, vision, dental, and life insurance with additional access to health and wellness programs
• Flexible working environment

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.

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.

Other details

• Job Family AC - Actuarial
• Job Function Sr Associate
• Pay Type Salary

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