AVP, Mortgage Loan Accounting

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October 8

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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

• Lead Fortitude Re’s Mortgage Loan Accounting & Reporting Center of Excellence (CoE), serving as the enterprise hub for loan accounting expertise, governance, and reporting. • Own end-to-end mortgage loan accounting and reporting across GAAP, STAT, Bermuda SFS, and EBS. • Ensure all loan transactions (originations, accruals, amortization, repayments, prepayments, and restructurings) are processed completely, accurately, and on time. • Oversee Clearwater loan processing and integration with SAP, ensuring data integrity and correct entity/account mapping. • Hold servicers, Clearwater, and valuation vendors accountable for service-level adherence, issue resolution, and escalation of breaches. • Drive automation and AI adoption to streamline reconciliations, data validations, impairment testing, and reporting workflows. • Direct monthly and quarterly loan-level reconciliations across Clearwater, servicer reports, custodians, and the general ledger. • Oversee valuation governance, including third-party appraisals, DSCR/LTV testing, and collateral validation. • Lead quarterly CECL allowance and impairment testing, ensuring assumptions and methodologies are well-documented and aligned with investment risk partners. • Ensure results are reported by legal entity, accounting basis, and reinsurance deal, connecting outcomes to treaty economics. • Investigate and resolve valuation and income variances, ensuring transparency and proper documentation. • Provide performance analysis and narratives by portfolio, entity, and reporting basis to CFO, CIO, and senior leadership. • Coordinate with Investments, Treasury, Risk, and Policy Accounting to ensure data consistency and alignment with ALM and capital strategies. • Maintain SOX and internal control compliance for all loan accounting and reporting processes. • Oversee preparation of loan-related financial disclosures (GAAP footnotes, NAIC schedules, Bermuda filings). • Present methodologies, results, and governance items to senior committees, regulators, and auditors. • Lead loan-related audit responses, ensuring documentation is complete, accurate, and timely. • Manage and mentor a team of managers and associates, including offshore support, to ensure consistent, high-quality execution. • Foster a culture of process improvement, accountability, and cross-functional collaboration across the Investment Accounting function.

🎯 Requirements

• Bachelor’s degree in Accounting, Finance, or related field (CPA strongly preferred). • 8+ years of accounting experience with a focus on mortgage loans, structured lending, or fixed income investments. • Deep knowledge of multi-basis reporting (GAAP, STAT, Bermuda SFS, EBS). • Demonstrated ability to ensure complete, accurate, and timely processing of complex mortgage loan portfolios. • Experience with Clearwater Analytics loan processing; SAP and Palantir experience preferred. • Strong technical expertise in valuation governance, including collateral appraisals, LTV/DSCR testing, and impairment methodologies. • Proven experience leading CECL allowance modeling and impairment testing for loan portfolios. • Demonstrated leadership in SOX/internal controls design and compliance for loan accounting and valuations. • Strong communication skills with experience presenting to executives, committees, auditors, regulators, and rating agencies. • Track record of driving automation, AI adoption, and process transformation in investment accounting. • Experience building, leading, and mentoring high-performing teams (including onshore and offshore resources). • Strong analytical, problem-solving, and organizational skills with attention to detail. • Ability to connect results across legal entities, accounting bases, and reinsurance deals to treaty economics and capital optimization. • Preferred (optional): Public accounting background or Big 4 experience with insurance/reinsurance or investment clients.

🏖️ Benefits

• annual bonus based on company and individual performance • generous benefits package