Job Description
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.
Are you a strong VA actuary and looking to be an instrumental part of the VA actuarial modeling team responsible for actuarial model development, model testing and validation, and production for the PALAC VA block for statutory, GAAP and hedging? Join this innovative, fast-paced, quickly growing reinsurance actuarial team as an AVP, VA Modeling Actuary.
This role will report to the VP VA Model Lead and will be responsible for building and leading the actuarial modeling team for the PALAC VA block. The AVP, VA Model Lead is responsible for maintenance and enhancement of the actuarial model and delivery of model results to stakeholders including valuation and hedging. This role will be an integral part of the actuarial modeling team for the PALAC VA block and support the VA Model Lead build out the VA modeling team, maintain and enhance the actuarial model, and delivery model results to stakeholders. The successful candidate will also exhibit industry knowledge related to actuarial modeling to support Fortitude Re on the evaluation of future acquisitions. This role ideally will be based in Nashville, TN office on a hybrid basis.
What You Will Do:
- Play a key role in model development, model testing and validation, and production for the PALAC VA block for statutory, GAAP and hedging.
- Execute project plan for VA modeling operation readiness.
- Execute timely model development and appropriate testing and validation.
- Define and set up ongoing production processes.
- Execute timely ongoing production processes and deliverables to stakeholders.
- Execute controls and governance processes.
- Coordinate with IT on data and infrastructure requirements.
- Continuously improve efficiency of the process and runtime.
- Support the evaluation of future acquisitions.
- 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.
- Fellow of the Society of actuaries (FSA) or an Associate of the Society of Actuaries (ASA) with 7+ years of experience.
- 7+ years of actuarial experience in the Life and Annuity insurance industry with a minimum of 3 years in variable annuity modeling
- Experience and proficient knowledge in VA products and US Statutory and GAAP accounting frameworks for variable annuities.
- Proficient knowledge with VA actuarial modeling systems and processes.
- Proven track record of managing actuarial models and improving process efficiency.
- Demonstrated success working in cross-functional collaborative teams.
- Exposure to hedging a plus.
- Ability to lead change and projects.
What We Offer:
We offer competitive benefits in a fast-paced, dynamic and nimble culture including:
- Unlimited PTO policy
- Actuarial exam support through our Actuarial Development Program
- 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
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.