AVP, Financial Reporting Actuary Manager

Job not on LinkedIn

November 18

🏖️ New Jersey – Remote

Although this job is listed in New Jersey, this company may be open to hiring remote in other states.

🎸 Tennessee – Remote

Although this job is listed in Tennessee, this company may be open to hiring remote in other states.

💵 $155k - $205k / year

⏰ Full Time

🔴 Lead

📊 Actuary

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Fortitude Re

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Finance • Healthcare Insurance

Fortitude Re is a reinsurance company that specializes in helping insurance companies around the world address their complex risk transfer challenges. The firm designs and delivers customized solutions for legacy Life & Annuity and Property & Casualty (P&C) insurance lines. Backed by experienced investor groups including The Carlyle Group and T&D Insurance Group, Fortitude Re prides itself on its leadership with over 20 years of industry experience to effectively manage legacy liabilities. Fortitude Reinsurance Company Ltd. , along with its subsidiaries, operates globally with a significant presence in Hamilton, Bermuda.

201 - 500 employees

💸 Finance

⚕️ Healthcare Insurance

📋 Description

• Consolidate valuation results for financial reporting purposes across Fortitude’s lines of business including Traditional Life, Universal Life, Variable UL, Payout Annuity, Fixed and Indexed Deferred Annuity and Accident & Health (A&H)/LTC. • Serve as the technical expert and supervise all technical aspects of the valuation actuarial team to update, run, and report on all US GAAP and Statutory liabilities for Life and Annuity contracts assumed by Fortitude Re. • Establish and conduct periodic unlocking of Deferred Gain, Cost of Reinsurance Asset and VoBA Liability schedules. • Development and maintenance of the robust control infrastructure. • Lead and support US statutory annual statement annual reporting and Bermuda annual Statutory Financial Statement reporting. • Support development and maintenance of a production valuation data and calculation environment for multiple valuation models, primarily AXIS. The environment will be data centric, minimize the use of spreadsheets, and have a robust control infrastructure. The data environment will tie to the Fortitude Ledger or values reported to ceding companies. • Support the technical aspects in developing and automating the reporting infrastructure with an emphasis on building repeatable processes with built-in review capability. • Work with internal and external auditors in their periodic reviews. • Assist in the review, understanding, and interpretation of results. Provide technical expertise in formally explaining variations in earnings vs the best estimate expectation and prior period. • Communicate consolidated results to senior management through memos, PowerPoint presentations, and providing insights and answers to questions. • Use pacesetting and perform technical actuarial work where necessary to fill any gaps on the valuation team, working in a team environment. • Mentor and guide junior team members, fostering a culture of continuous learning and development. • Contribute to team capability-building through best practice sharing, peer review, and development of standard tools and templates.

🎯 Requirements

• Associateship of the Society of Actuaries (ASA), Fellowship of Society of Actuaries (FSA) or an equivalent designation. • 7+ years of experience, ideally dealing with valuation, financial reporting and actuarial accounting. • Undergraduate degree required (preference for mathematics, actuarial sciences, insurance accounting, and other quantitative fields). • Project management, detail oriented, and strong organizational skills. • Excellent mathematical, analytical and problem-solving skills with attention to detail. • Mathematical, accounting, and actuarial knowledge, computer software skills, analytical. • Problem solving and a basic business sense of financial, accounting and economic aspects of the business. • Proficient with MS Word, Excel, and strong ability to work with and understand data. • Technical experience and US Statutory and US GAAP valuation knowledge. • Excellent written and oral communication skills. • Highly motivated, results- and goal-oriented with the ability to manage multiple projects.

🏖️ Benefits

• Annual bonus based on company and individual performance • Generous benefits package