AVP, M&A and Reinsurance Risk Analyst

Jersey City, NJ, USA ● Nashville, TN, USA Req #464
Tuesday, November 1, 2022

Fortitude Re is a liability-led reinsurer of legacy insurance portfolios complemented by sophisticated investment capabilities. In 2016, AIG created a “Legacy” portfolio as a separate non-core segment representing insurance reserves associated with discontinued lines of commercial Property & Casualty and Life & Annuity insurance businesses. The following year, AIG formed a Bermuda-domiciled composite reinsurer, now Fortitude Re, to house the Legacy portfolio in a separate, distinct, well-capitalized balance sheet with a dedicated management team. In 2018, the company entered into a series of L&A and P&C reinsurance transactions with AIG and received an initial capitalization of ~$3 BN. The transactions represented ~$37 BN of reserves supported by ~$40 BN of invested assets. During this time, AIG also entered into a long-term partnership with The Carlyle Group, with Carlyle acquiring 19.9 % ownership. Then in 2019, The Carlyle Group and T&D announced acquisition of majority interest in Fortitude Re from AIG. This allowed for a new long-term shareholder base for the company while maintaining a strong capital position for supporting reinsurance obligations. Click here for more information about Fortitude Re.

Position Summary:

This position will report into the M&A and Reinsurance Risk Officer and will be an experienced technical contributor playing a key role in the risk oversight of Fortitude Re’s life and annuity reinsurance transactions.
 

Key Responsibilities:

Support the profitable growth of our company through risk oversight of prospective life and annuity transactions:

  • Continuous refinement and implementation of a robust new transaction risk review framework
  • Review/challenge the Challenger Model process and reconciliations to the pricing model
  • Review/challenge process on key decisions and assumptions where material judgements are applied
  • Develop pro forma risk profiles and assess against Risk Appetite, Tolerances, and Limits
  • Opine on stress analysis and distribution of returns

Position Requirements:

  • Qualified Fellow of the society of Actuaries or Institute of Actuaries (or equivalent) with 8+ years of experience
  • Experience in pricing, capital management, valuation, financial reporting, and/or reinsurance; pricing experience a plus
  • Experience in reviewing and assessing the appropriateness of complex models a plus
  • Broad knowledge of U.S. insurance products; UL, VA, LTC, and/or fixed annuity experience a plus
  • Knowledge of Bermudan capital a plus
  • Strong communication and interpersonal skills
  • Good project management and high attention to detail with strong follow-through skills
It has been and will continue to be the policy of Fortitude Group Holdings, LLC, its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability, or any other legally protected categories. 
                                                                                                                                                 
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.

Other details

  • Job Family RK - Risk
  • Pay Type Salary
Location on Google Maps
  • Jersey City, NJ, USA
  • Nashville, TN, USA