AVP, Valuation Actuary Manager

Responsibilities

• Perform 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.
• Perform the periodic US GAAP/LDTI, Statutory, and Tax valuation and financial reporting for Fortitude Re's businesses. Products include fixed deferred annuities and indexed annuities.
• Assist with the onboarding of new deals into the Fortitude environment, including drafting of test tools that replicate modeled results, implementation and business requirement memorandums and supporting the construction of the opening balance sheet.
• 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.
• Support US statutory blue book reporting requirements, if applicable.
• Ensure that all valuation activities follow Fortitude Re's Internal Controls for Financial Reporting Framework.
• Perform analytics and prepare analysis of financial results.
• Work with the Modeling team to manage and execute the building/maintenance of our Fortitude Valuation Systems (FVS) AXIS models, which entails user-acceptance testing through change management processes.
• 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.
• Team Supervision: Supervise and mentor Senior Associates and Associates, fostering a collaborative and high-performance environment.
• Talent Development: Assist in recruiting, training, and developing valuation team members, ensuring they have the necessary skills and knowledge.
• What You Will Have :
• 5+ years of experience, ideally dealing with valuation and financial reporting.
• Undergraduate degree required (preference for mathematics, actuarial sciences, and other quantitative fields).
• Project management, detail oriented, and strong organizational skills.
• Associateship of the Society of Actuaries (ASA), 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.
• Experience managing a small team with ability to mentor staff.
• 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

Benefits

Additional Information

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 $111 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 AVP, Valuation Actuary Manager candidate will be a key member of the Fortitude Life and Annuity Valuation team, which serves the company by supporting valuation and financial reporting requirements for US GAAP and statutory accounting for nontraditional reinsurance and acquired businesses. This position will report to the VP, Valuation Actuary and will be responsible for performing the valuation and financial reporting of fixed deferred and indexed annuities. The AVP candidate will align the business line's financial reporting to corporate and accounting policies, governance, and control framework and procedures. This role will be based remotely with some travel to our Nashville, TN office will be required.

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