Senior Associate, Property & Casualty Risk

Bermuda ● Jersey City, NJ, USA Req #488
Tuesday, November 1, 2022

Our client, Fortitude Reinsurance Company Limited, invites applications for a Senior Associate Property & Casualty (P&C) Risk. Fortitude Re, is a Class E and Class 4 licensed Bermuda liability-led reinsurer of legacy insurance portfolios complemented by sophisticated investment capabilities. The primary responsibility of the Senior Associate P&C Risk is to fulfill the Risk Management responsibility for Fortitude Re’s P&C related risk. This position reports to the P&C Risk Officer of Fortitude Re, and will be an important member of the Enterprise Risk Management team that is responsible for the review, challenge and support of the first line responsibility to identify, quantify, remediate and manage all risks of the organization from end-to-end. 

Responsibilities will include, but are not limited to:

  • Assist in the design, continuous refinement and implementation of a robust risk management framework, in line with industry best practices and the policies and expectations of regulators – with specific responsibilities to ensure the framework is appropriate for the large portfolio of P&C liabilities reinsured by Fortitude Re.
  • Carry out detailed valuation reviews on in-force reserves.
  • Assist in the ERM review on new transactions.
  • Provide support on process being managed by ERM such as the challenger model process and the external best estimate reviews.
  • Ensure the integrity and insightfulness of all risk information reported internally and externally.
  • Partner with the P&C Risk Officer and Chief Risk Officer of Fortitude Re to support first-line risk management.

Position Requirements:

  • Bachelor’s degree in a quantitative discipline such as math, engineering, statistics, actuarial science, etc.
  • At least 4-5 years with strong reserving experience preferably in long tailed lines.
  • Ability to code, preferably in R or Python. 
  • ACAS or newly qualified FCAS (or equivalent actuarial designation) with required experience related to P&C business strongly preferred.
  • Thorough knowledge of P&C insurance and reinsurance, related asset/liability management challenges, capital requirements and considerations.
  • Solid understanding of market, credit, and insurance risks and how they potentially impact insurance organizations together with strong knowledge of P&C insurance risks and the risks associated with the investment portfolio backing these liabilities are desirable.
  • Proven analytical and process management skills with ability to oversee complex risk measurement and analysis. Strong reasoning and communication abilities to hold, explain and maintain an independent perspective and risk position among various business partners, even in times of disagreement, and proven ability to confidently and diplomatically challenge management on risk-related decisions.
  • Collaborative skills and gravitas necessary to participate in the overall management of the risk issues associated with the reinsurance businesses.

All enquiries will be dealt with in strict confidence.

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
  • Job Function Associate/Sr Associate
  • Pay Type Salary
Location on Google Maps
  • Bermuda
  • Jersey City, NJ, USA