Vice President, P&C Reinsurance Modeler
Fortitude Re is a liability-led reinsurer of legacy insurance portfolios complemented by sophisticated investment capabilities. 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. here for more information about Fortitude Re.
Reporting to the Chief Underwriting Officer of Property & Casualty Reinsurance, the VP, Property and Casualty modeling is an experienced professional with demonstrated ability to financial model property and casualty reinsurance transactions. The individual will be part of a deal team made up of actuarial pricing, underwriting, investments, legal, and finance.
- Own the financial modeling for FIRL, including getting data from the key stakeholders actuarial, capital management, investments, finance, and legal to evaluate the profitability of individual property and casualty reinsurance transactions.
- Involved in modeling the impact of key assumptions on the valuation of individual property and casualty reinsurance transactions.
- Prepare the presentation of the output of the modeling for key stakeholders.
- Involvement with the corporate modeling team of the Fortitude group to implement changes or improvements into the financial valuation model. These changes include implementation of automating reports from the model.
- Focus on implementing the latest guidance from regulatory bodies and internal view of capital requirements for property and casualty reinsurance transactions.
- Support the application of model governance and pricing standards.
- Involved in the process of monitoring transactions after they close – A v E. This will include designing the reports that will flow from the financial model to key stakeholders.
- Assist in identifying deal targets.
- Assist in providing regulatory and/or rating agency impact to clients of the reinsurance transaction.
- University degree in mathematics or finance.
- FCAS, ACAS or FIA actuarial certification.
- You must have 7+ years of financial modeling property and casualty lines of business experience. The modeling experience should be in designing cashflow models to determine a return on equity or IRR of a specific transaction or a book of business. .
- Strong communication and interpersonal skills with the ability to work effectively with various stakeholders, including senior management, internal functional partners and counterparties.
- Organized, reliable, detail-oriented, and motivated to support teams in delivering timely results and quality work products.
- Knowledge/familiarization of the BMA regulatory capital requirements for property and casualty reserves.
- Familiarization of Loss Portfolio transfers and Adverse development covers.
- Strong Excel VBA skills.
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.
- Job Family AC - Actuarial
- Job Function VP
- Pay Type Salary