Senior Associate, Accounting

Nashville, TN, USA Req #369
Wednesday, June 8, 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
This position will have meaningful interaction with senior leadership, including the Group Controller, as well as line of business leaders. The position will assist in reviewing work performed by an offshore accounting team as well as assisting in the financial reporting and control processes for various Fortitude Re legal entities.

Key Responsibilities

The position will be responsible for effectively managing, with a focus on opportunities for innovation and increased efficiency through automation, to promote reliable and timely financial information by:

  • Managing quarterly close calendar and processes for assumed reinsurance business including preparation and/or review of journal entries, account reconciliations, and analysis.
  • In coordination with the Controllership team, facilitating the movement of certain close processes offshore. Following the transition, providing oversight and guidance to the offshore team, as well as assisting in the review of the work performed by the team on an ongoing basis.
  • Integrating newly acquired business into existing monthly/quarterly processes.
  • Acting as a liaison between the Group Controllership team and various functions including Actuarial, FP&A and IT.
  • Supporting Controllership team with preparation of quarterly and annual disclosures required under US GAAP.
  • Contributing to the preparation of quarterly, annual and ad hoc reports to internal and external parties including but not limited to senior management, the board, rating agencies, and regulatory authorities.
  • Collaborating with internal and external auditors in the execution of business processes, walkthroughs and as appropriate tests of operating effectiveness and remediation of any control deficiencies.
  • Assisting with risk management activities and reporting.
  • Keeping current on best practices and latest thinking regarding processes and controls.
  • Supporting our core values by communicating and teaming effectively across different cultures and levels within the organization.

Position Requirements

  • Bachelor’s degree or higher in accounting.
  • CPA, Chartered Accountant or equivalent.
  • Four (4) or more years of experience auditing public companies in the financial services industry or industry experience.
  • Knowledge of accounting and financial processes including risk and financial controls.
  • Ability to understand and apply applicable laws, regulations, and compliance requirements.
  • Ability to understand and apply relevant accounting basis principles.
  • Assertive, clear and professional verbal and written communications.
  • Strong interpersonal, collaborative and conflict resolution skill.
  • Ability to effectively design and present information to senior management.
  • Ability to define problems, collect data, establish facts and draw conclusions.

Agility and ability to work effectively both as part of a team and 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 FA - Finance
  • Job Function Associate/Sr Associate
  • Pay Type Salary
Location on Google Maps
  • Nashville, TN, USA