Senior Associate, Reinsurance Operations

Nashville, TN, USA Req #453
Wednesday, August 31, 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.

Position Summary:

The Senior Associate, Reinsurance Operations will play a key role in establishing and overseeing Fortitude’s growing L&A Reinsurance Operations portfolio.  This role will support the coordination and onboarding of cedant relationships and support the ongoing governance and oversight of the relationship from an operations perspective. The individual will manage the onboarding of reinsurance transactions working closely with the cedant and our internal support functions across Information Technology, Finance, Investments and New Business teams. The individual will oversee continuing ongoing maintenance of cedant relationships. The individual must be effective in working in a cross functional team environment to deliver results.

 

The Ideal Candidate will: 

  • Have expertise in L&A re/insurance transactions structures, processes, systems and controls. 
  • Be detail oriented and highly organized.
  • Possess strong project management, communication and analytical skills.
  • Be 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.

 

Key Responsibilities:

  • Play a key role in the integration team, which serves as the single point of contact for cedants and reinsured blocks for traditional life & annuities businesses both pre and post inception.
  • Coordinate internal functions to seamlessly onboard reinsurance transactions.
  • Provide clear and detailed project plans, status reports and other applicable project management documentation to all levels of the project.
  • Support the due diligence and pre inception process for potential counterparties.
  • Simplify, streamline and document reinsurance operational and integration processes.
  • Support efforts with internal stakeholders to design and streamline reinsurance target platforms, processes, and end-to-end approach.
  • Build a culture of continuous improvement and enable a high performing corporate culture through improved ways of working across the organization, reduction of cycle times on decision making, elimination of waste, and simplification / streamlining of critical processes across the reinsurance onboarding and governance process.
  • Identify and implement best practices and build a repeatable playbook for initiatives
  • Help to identify, document and resolve issues across projects, as well as adjusting priorities as necessary.
  • Help develop and implement a set of KPI’s that monitor operational performance and overall quality of the relationship with the cedant post integration.

 

Position Requirements: 

  • University degree in accounting or finance, MBA or Graduate Degree is a plus.
  • Minimum of 3 years of relevant post-qualification experience within L&A re/insurance company and/or accounting/consulting firm supporting the industry.
  • Strong understanding of L&A re/insurance systems, processes & controls.
  • Excellent verbal/written communication and interpersonal skills.
  • Strong analytical capabilities and problem-solving skills.
  • Ability to juggle multiple priorities with competing deadlines in a fast-paced environment.
  • Working knowledge of project management tools with a preference for JIRA and Confluence
  • Proficiency with Microsoft tools
  • Project Management certification a plus
  • Familiarity with Six Sigma or Lean a plus
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 OP - Operations
  • Job Function Associate/Sr Associate
  • Pay Type Salary
Location on Google Maps
  • Nashville, TN, USA