Senior Associate, Expenses

Nashville, TN, USA Req #392
Tuesday, May 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.

The Sr. Associate, Expense Controller will assist with maintaining financial records for designated entity(ies) and/or cost center(s) in compliance with Fortitude Re policies and internal control framework along with management reporting responsibilities.  

Responsibilities
  • Liaise with entity and/or cost center leaders to assist with managing expenses
  • Completes monthly and quarterly close responsibilities
  • Calculates, invoices, and records intracompany and third party billings
  • Monthly reporting including AvB analysis, forecasts, etc. via SAP Analytics and other reporting and presentation tools
  • Contributes to development of annual operating budgets
  • Reconciles balance sheet accounts monthly; initiating corrections when needed
  • Identifies and helps resolves inter/intracompany reconciling differences
  • Monitors receivables and ensures timely payment from third parties and intracompany partners
  • Assists with disbursement clearing account maintenance
  • Coordinates and/or participates with internal and external audits; prepares year-end financial statements and supporting documents and schedules as needed
  • Performs and monitors key controls activities related to the monthly and quarterly financial close process
  • Ensures processes and supporting documentation are compliant with GOE controls; recommends updates to controls as needed
  • Provides supporting documentation to tax as needed
  • Assists with onboarding new business related to the accounting and financial reporting aspects
  • Other duties as assigned

Requirements
  • Bachelor's degree in Finance, Accounting, or related field
  • 3 - 5 years of experience in general accounting or FP&A
  • Computer proficiency including Microsoft Office applications; intermediate+ Excel skills
  • SAP or similar financial systems experience
  • Experience with

    Business Intelligence applications preferably SAP Analytics
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