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 VP, Traditional Life Valuation Actuary candidate will be a key member of the Fortitude Life and Annuity Valuation team, which serves the company by leading valuation and financial reporting requirements for US GAAP and statutory accounting for nontraditional reinsurance and acquired businesses. This position will lead and oversee the valuation and financial reporting of a portion of Fortitude's reinsurance and/or acquired businesses, which includes payout annuities, whole life, term life, current assumption universal life (UL), guaranteed UL, variable UL, life/LTC combo products, fixed deferred and indexed annuities, and accident & health/LTC. The leader will align the business lines to corporate and accounting policies, governance, and control framework and procedures. The leader will work closely with the finance and controllership team, accounting policy and internal controls, and the actuarial consolidation and financial reporting team. This role will be based in our Nashville, TN office on a hybrid basis.

What You Will Do:

• Lead the valuation (US GAAP/LDTI, statutory and tax) requirements for Fortitude's reinsurance transactions and/or acquisitions, while aligning to corporate and accounting policies, control framework and procedures, and performing periodic valuation of these blocks.
• Lead the periodic US GAAP, Statutory, and Tax valuation and financial reporting for Fortitude Re's businesses. Products include Payout Annuities, Whole Life, Term, Universal Life, AH and LTC.
• Supervise directly and/or indirectly a team who will support the valuation work and financial reporting, which includes review of input data for completeness and accuracy and review of reserves for reasonableness and accuracy.
• Lead and support US statutory blue book reporting requirements.
• Reasonably assure that all valuation activities follow Fortitude Re's Control Framework.
• Perform analytics and prepare analysis of financial results.
• Lead LDTI disclosures reporting for applicable blocks in accordance with non-public company standards and timing.
• Work with the Modeling team to manage and execute the building and maintenance of our Fortitude Valuation Systems (FVS) AXIS models, which entails coding, testing and input updates through change management processes.
• Maintain and develop audit tools to validate reserve calculations.
• Assist in process improvement efforts, particularly automation using Python, GitHub, and other technology platforms.
• Assist in responding to internal and external auditor requests.
• Execute on ad hoc projects.

What You Will Have:

• 8+ years of experience, ideally dealing with valuation and financial reporting.
• Undergraduate degree required (preference for mathematic, actuarial sciences, and other quantitative fields).
• Project management, detail oriented, and strong organizational skills.
• Fellowship of Society of Actuaries (FSA) or an equivalent designation.
• Excellent mathematical, analytical and problem-solving skills with attention to detail.
• Mathematical and actuarial knowledge, computer and actuarial software skills, analytical.
• Problem solving and a basic business sense of financial, accounting and economics aspects of business.
• Proficient with MS Word, Excel, and SQL.
• AXIS experience strongly recommended and/or experience with other valuation platforms.
• Significant technical experience and expert-level US statutory and US GAAP valuation knowledge particularly SFAS 97.
• Specific knowledge of AG 38, and PBR (VM-20) preferable.
• Experience with data structures and handling.
• Excellent written and oral communication skills.
• Highly motivated, results- and goal-oriented with the ability to manage multiple projects independently and with a high level of discipline.
• Familiarity with the Bermuda Monetary Authority Economic Balance Sheet principles and Scenario-Based Approach application.

#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

$215,000-$240,000 USD

What We Offer:

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 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.

Check us out on YouTube: About Fortitude Re (youtube.com)

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