Senior Associate Actuary, Embedded Value Reporting
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.
This role will be a member of the capital management team, which serves the company by reporting and monitoring capital in alignment of regulatory reporting, strategic planning, and market expansion needs of Fortitude Re. The primary responsibilities of the position will be producing quarterly embedded value analysis. The role will be required to work closely with departments across the organization including actuarial, finance, investments and pricing teams.
- Responsible for preparing and analyzing quarterly embedded analysis including sensitivities
- Critically review corporate level investment and capital assumptions for consistency across reporting regimes (US GAAP, US Stat) as well as key inputs into the process produced by other departments
- Implement, and execute controls as necessary to ensure accurate financial statement projections
- Assist and review key inputs and lead assumption setting process
- Assess and develop metrics to analyze projected income, reserves and capital requirements
- Responsible for being key liaison with actuarial modeling team and provide assumption updates and methodology changes as required
- Support team on other project work as required
- Bachelor Degree in Actuarial or other numeric discipline and have a minimum of 5 years’ experience working within insurance, specifically within valuation and modeling
- Recent or near Associate of Society of Actuaries or equivalent designation
- Working knowledge of regulatory capital standards (US RBC, Solvency II, etc) and insurance product reserving methods
- Experience with actuarial projection or valuation software, database applications, business intelligence tools
The ideal candidate will:
- Be detail oriented and highly organized.
- Possess strong communication and analytical skills.
- Highly motivated and results-oriented.
- Proven ability to work independently
- Be a strategic thinker able to analyze and solve complex problems
- Very strong written, verbal and interpersonal communications skills to clearly articulate sophisticated concepts, ideas and processes.
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 FA - Finance
- Job Function Associate/Sr Associate
- Pay Type Salary
- Nashville, TN, USA