Actuarial Associate, Life Modeling

Jersey City, NJ, USA ● Nashville, TN, USA Req #569
Monday, March 13, 2023
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.

This role will be a key member of the FRL Life and Annuity actuarial modeling team, which serves the company by providing projections to support financial reporting requirements covering US GAAP, US Cash Flow Testing and Bermuda Economic Balance Sheet.  The primary responsibility of the position will be supporting the quarterly model roll forward and controls. This position will also be involved with the onboarding of new business into the modeling process. As such, the ideal candidate will have experience and knowledge in AXIS software, strong attention to detail and ability to balance financial reporting and project-based work. The position is expected to work closely with departments across the organization including Actuarial Data, Assumptions and Valuation teams as well as Investments.  This role can be based in our Nashville, TN or Jersey City, NJ offices and work on a hybrid schedule.

What You Will Do:

  • Support quarterly roll forward of AXIS models to provide results for US GAAP, US STAT, US Tax and Bermuda Economic Balance Sheet
  • Assist with development of AXIS models for newly acquired blocks of business
  • Support quarterly and annual filing deliverables for all accounting bases
  • Implement process improvement and automation for quarterly reporting
  • Execute and design as necessary financial controls to validate accuracy of the model results
  • Research and review assumptions and interface with other functional areas
  • Develop new functionality to support profitability analysis and financial planning
  • Support senior management on any ad-hoc requests such as assumption development, due diligence, etc.
What You Will Have:
  • 1.5 years of progressively more responsible actuarial experience with Life Insurance, Annuity products or ALM equivalent environment
  • Working toward Associateship/Fellowship of the SOA, CAS, or IFoA and will have passed a minimum of four actuarial exams
  • working experience with AXIS or similar actuarial projection software
  • Experience with modeling, ideally including US Cash Flow Testing
  • Good analytical skills and ability to adopt a creative approach to solving complex process problems
  • High degree of proficiency in Excel, PowerPoint and Word applications as well as experience with database and programming languages
  • Ability to work with Business Intelligence (BI) tools
  • Ability to manage multiple  work assignments and meet time commitments
  • Strong oral and written communication skills
  • Undergraduate degree is required, preferably in actuarial science, mathematics, statistics, or related fields

What We Offer:
We offer competitive benefits in a fast-paced, dynamic and nimble culture including:

  • Unlimited PTO policy
  • 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.

Other details

  • Job Family AC - Actuarial
  • Job Function Associate
  • Pay Type Salary
Location on Google Maps
  • Jersey City, NJ, USA
  • Nashville, TN, USA