Senior Associate, Trading Operations
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.
The role will build and implement processes and tools for trade reconciliation, settlements, collateral management and reporting, in connection with hedging activities for Fortitude Re’s variable annuity business.
Role and Responsibilities
- Identify and resolve any position, valuation or settlement breaks in coordination with the trading team
- Monitor collateral requirements and coordinate with Treasury functions to ensure timely transfers
- Work directly with third-party investment and hedging managers, FCMs and counterparties to promptly resolve all issues
- Own and provide continual support in the collection and analysis of data used for P&L Attribution
- Create and distribute daily reports to internal teams
- Work collaboratively with other key stakeholders, including colleagues in Investments, Actuarial, Treasury, and Operations functions
Fortitude Group is seeking a strong candidate with investment and derivative operations experience to develop and enhance the hedging operations for our growing annuity business. The ideal candidate will have moderate experience and intermediate-level knowledge of trade operations and financial products.
A college degree is required, advanced degree is preferred
- 3-5 years of trade operations experience
- Experience working in fixed income and derivative markets is preferred
- Familiarity with futures, options and OTC products
- Knowledge of cash management including margin, collateral, FX, etc.
- Proficiency in Microsoft Office with excellent Excel skills and Tableau knowledge
- Familiarity with common industry systems/software such as TriOptima, Markitwire and Bloomberg
- VBA, SQL and/or scripting desired
- Entrepreneurial with a desire to work in a ‘start-up’ environment
- Desire to deliver a complete work product
- Strong oral and written communication skills.
- Highly motivated and results-oriented
- Strong analytical skills with attention to detail
- Ability to work independently
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 Associate/Sr Associate
- Pay Type Salary
- Jersey City, NJ, USA