Assistant Vice President, Compliance (Generalist)

Jersey City, NJ, USA Req #282
Friday, June 17, 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

This role is responsible for supporting the compliance function for the Fortitude Re Group of Companies (the “Companies”). This position will report directly to the Chief Compliance Officer and be based in Jersey City. 

Key Responsibilities

Develop, manage and maintain the Companies core compliance program including of the following:

  • Core program elements including AML, Fraud, Privacy, Code of Conduct, etc.
  • Compliance policies and procedures
  • Compliance Training and education
  • Compliance testing and monitoring, including developing the TPA/TSA oversight program
  • Regulatory change management
  • Regulatory inquiries and exams, including market conduct exams
  • Support and maintain the Companies’ Compliance Framework
  • Support the Companies’ Compliance Governance processes, including the Governance Committee of the Board, Compliance Working Committee, etc.

Qualifications and Experience Requirements

  • Compliance professional with 5 years of financial services industry experience. 
  • Experience in core financial services compliance programs including: 
    • Code of Conduct employee compliance programs
    • Broker-dealer compliance
    • 38(a)(1) program or similar compliance program experience
    • AML/OFAC reviews
    • Financial Crimes/ABC/Fraud
    • Complaints
    • Privacy Regulatory Exam management
    • Third party adminstrator oversight
    • Regulatory Filings and registrations
  • Ability to work effectively in a high-pressured and fast-paced environment
  • Ability to work independently and execute program elements
  • Strong analytical and problem-solving skills
  • Excellent communication and interpersonal skills
  • Collaborative approach
  • Discretion with confidential information, excellent judgment
  • Ability to demonstrate flexibility handling multiple projects, both large and small, while maintaining a high level of detail-orientation
  • Extremely well organized, with excellent time management skills.
  • Fluent in Microsoft Office suite of applications, e.g., Excel, Word, Outlook, PowerPoint

It has been and will continue to be the policy of Fortitude Group Holdings, LLC, its subsidiaries and affiliate 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 perspective. 

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 LG - Legal, Regulatory & Gov't Affairs
  • Job Function AVP
  • Pay Type Salary
Location on Google Maps
  • Jersey City, NJ, USA