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, New Deals 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 the onboarding of new deals into the Actuarial Valuation department and will lead designing, implementing and maintaining appropriate GAAP and statutory valuation practices for all the valuation and financial reporting methodologies for new life insurance and annuity transactions across all of Fortitude's business lines, including payout annuities, traditional life products, universal life (UL), variable UL, fixed deferred and indexed annuities, variable and index linked annuities and accident & health/LTC. The position will serve as the key thought leader in establishing how GAAP and statutory actuarial valuations will be performed for new deals and will maintain methodologies for existing business. The leader will collaborate with cross-functional teams, including Valuation, Modeling, Finance, Pricing, Legal and Corporate Development.

What You Will Do:

• Drive the actuarial function in developing and implementing effective and accurate actuarial methodology and valuation practices for Fortitude's reinsurance transactions that are consistent with regulatory requirements, internal accounting policies and business considerations.
• Collaborate with pricing, risk, and finance teams to ensure seamless integration of reserving methodologies into the company's broader finance models.
• Work closely with business development teams to assess the financial viability of potential transactions and the impact of new life insurance deals on existing reserves. Provide actuarial support during negotiations.
• Serve as key thought leader on valuation methodologies and the primary resource for valuation leads to discuss and research actuarial valuation practices on existing or new business.
• Support Fortitude's US regulatory monitoring and advocacy initiatives from an actuarial perspective through involvement in NAIC and ACLI discussions. Oversee implementation of new regulatory requirements such as VM-22 implementation and NAIC GOES scenarios.
• Reasonably assure that all valuation activities are consistent with Fortitude's internal actuarial methodologies and accounting policies as well as external actuarial / financial reporting requirements.
• Maintain library of actuarial regulations and internal valuation methodology documentation.
• Assist in responding to internal and external auditor requests.
• Execute on ad hoc projects.

What You Will Have:

• 8+ years of relevant actuarial experience.
• Undergraduate degree required (preference for mathematic, actuarial sciences, and other quantitative fields).
• Expert level knowledge of US statutory and GAAP accounting requirements for insurance, deposit contracts and reinsurance, including GAAP LDTI, SFAS 97, AG38, VM-20 (PBR), VM-21 (VA) and VM-22 (Traditional Annuities) with breath across life and annuity products.
• Strong understanding of the financial, accounting and economic aspects of the reinsurance business and reinsurance transactions.
• 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.
• Excellent written and oral communication skills, with ability to influence and build relationships at all levels.
• Proficient with MS Word, Excel, PowerPoint.
• 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

$200,000-$245,000 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.

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