Assistant Vice President, Life Pricing

Jersey City, NJ, USA ● Nashville, TN, USA Req #244
Wednesday, September 7, 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.

The Associate Director & Actuary will be an experienced technical contributor playing a key role in the production and interpretation of pricing analytics in support of life and annuity reinsurance transactions.

Key Responsibilities

  • Set up and run pricing analysis, produce sensitivities
  • Iterate on reinsurance structure and treaty terms to optimize solutions for counterparties
  • Communicate pricing results and recommendations to internal stakeholders
  • Follow applicable governance and pricing standards
  • Review, validate, and extend existing models

Position Requirements

  • Qualified or near qualified Associate or Fellow of the Society of Actuaries or Institute of Actuaries (or equivalent) with 5 - 8 years of experience
  • Strong modeling and technical skills (Excel modeling skills required, SQL/Python/Julia a plus)
  • Experience in pricing, corporate FP&A, Capital Management, Valuation, Financial Reporting, Reinsurance, and/or ALM
  • Strong communication and interpersonal skills, adaptable and team player.
  • Organized, reliable, detail-oriented, and motivated to support teams in delivering timely results and quality work products.

Ideal Candidate Will:

  • Be able to prototype models for validation and ground-up development, learning real-time, anticipating problems or challenges and proactively addressing them
  • Have a strong conceptual understanding and hand-on experience with different financial reporting basis (e.g. US/Canadian/Bermuda/International regimes)
  • Be supportive and encouraging with other team members, including development of junior staff
  • Be customer-oriented (internal and external)
  • Be driven to solve problems in a disciplined and pragmatic way
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 AC - Actuarial
  • Job Function AVP
  • Pay Type Salary
Location on Google Maps
  • Jersey City, NJ, USA
  • Nashville, TN, USA