Assistant Vice President, Life Modeling Actuary

Jersey City, NJ, USA ● Nashville, TN, USA ● Virtual Req #568

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 standing up and maintaining a production AXIS model for a large, newly acquired block of business. This role will be oversee model governance activities including testing and manage and review the quarterly roll forward of the model once in production. Additionally, this role may assist with other new model onboarding as time permits. As such, the ideal candidate will have significant experience and expert-level knowledge in AXIS software, a thorough understanding of a variety of products and strong project management and communication skills. Experience in modeling, Alteryx and Tableau is preferred. The position is expected to work closely with departments across the organization including Actuarial Data, Pricing, Assumptions and Valuation teams as well as Investments and Capital. This role can be based in our Nashville, TN or Jersey City, NJ offices and work on a hybrid schedule or can be remote.

What You Will Do:

Implement and maintain production AXIS model for a large block of business including a variety of life and annuity products
Lead and review model governance activities to ensure accuracy and compliance with model risk standards
Integrate new AXIS model into existing modeling and reporting infrastructure
Review and communicate results of quarterly model roll forward for US GAAP, US STAT, US Tax and Bermuda Economic Balance Sheet bases
Implement process improvement and automation for quarterly reporting
Assist with design and onboarding of new deal AXIS models
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:

7+ years of relevant experience
Fellow of the Society of Actuaries or Institute of Actuaries (or equivalent) or career Associate
Significant working experience with AXIS
Good analytical skills and ability to adopt a creative approach to solving complex process problems
Strong project management and communication skills
High degree of proficiency in Excel, PowerPoint and Word applications as well as experience with database and programming language
Ability to work with Business Intelligence (BI) tools
Ability to manage multiple resources and work assignments while meeting time commitments
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
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.

Other details

Job Family AC - Actuarial
Job Function AVP
Pay Type Salary

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Jersey City, NJ, USA
Nashville, TN, USA
Virtual