Assistant Vice President, Credit Risk Analyst
Fortitude Re is a liability-led reinsurer of legacy insurance portfolios complemented by sophisticated investment capabilities. 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. here for more information about Fortitude Re.
An important voice in the investment decision-making process and a trusted partner of the various teams, this position will report into the Investment Risk Officer and will provide support and risk oversight of Fortitude Re’s $90+bnportfolio and contribute to the profitable growth of Fortitude Re Group.
- Provide oversight and actively participate in Fortitude’s credit risk management workstream
- Working with Investment Analytics team, support the development of Fortitude’s credit risk framework/systems.
- Support the development of methodologies that measure Fortitude’s credit risks, set limits and monitoring metrics in accordance with Fortitude’s risk appetite and risk policies.
- Work with investment area to facilitate the implementation of portfolio analytic tools, and utilize them to provide key analysis, insight and actionable recommendations to manage company’s credit risk exposure.
- Effectively communicate the findings and actionable recommendations to senior management.
- Where applicable, participate in the due diligence process and provide assessment of specific investment opportunities, especially in the private equity, private credit and other alternative asset classes and co-investment opportunities. Engage in constructive discussions and challenge the investment team on investment thesis, risks, assumptions, models, etc.
- Review investment recommendations made to the Board and sub-Board Committees: including documentation of review & performing quantitative analysis as needed.
- Assist in further building out of our internal capital framework
- Credit risk modeling(PD/LGD/risk aggregation) experiences.
- Knowledge of Bermudan capital framework preferred.
- Experience with RiskFrontier, PortfolioStudio, Factset, and/or Clearwater preferred
- Experience with SQL, Power BI preferred
- Experience in reviewing and assessing the appropriateness of complex models
- Good project management, communication, presentation and interpersonal skills. Comfortable in communicating and presenting to senior levels of organization. English language required.
- High attention to detail and highly organized with strong follow-through skills.
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.
- Job Family RK - Risk
- Job Function AVP
- Pay Type Salary
- Jersey City, NJ, USA