Senior Associate, Trading Operations

Jersey City, NJ, USA Req #422
Wednesday, November 9, 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 Position

 

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

 

The Person

 

Candidate Profile

 

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.

 

Education

 

A college degree is required, advanced degree is preferred

 

Experience

  • 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

 

Personal Characteristics

  • 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
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 Associate/Sr Associate
  • Pay Type Salary
Location on Google Maps
  • Jersey City, NJ, USA