Associate, Capital Management

Nashville, TN, USA Req #399
Wednesday, June 15, 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 role will be a member of the capital management team, which serves the company by reporting and monitoring capital in alignment of regulatory reporting, strategic planning, and market expansion needs of Fortitude Re.  The primary responsibilities of the position will be producing quarterly embedded value analysis.  The role will be required to work closely with departments across the organization including actuarial, finance, investments and pricing teams.

 

 

Key Responsibilities:

  • Responsible for preparing quarterly embedded value analysis and capital projections
  • Implement and execute controls as necessary to ensure accurate financial statement projections
  • Collect and review key inputs and assist assumption setting process, including new business onboarding
  • Prepare reporting materials and intercompany deliverables
  • Support team on other project work as required

 

Qualifications:

  • Bachelor Degree in Actuarial or other numeric discipline
  • 2+ years of actuarial experience in the insurance industry
  • Pursuing an Associate of Society of Actuaries (ASA) or equivalent designation, with at least 3 exams passed
  • Experience with actuarial projection or valuation software, database applications, business intelligence tools
  • Working knowledge of regulatory capital standards a plus

 

 

The ideal candidate will:

 

  • Be detail oriented and highly organized.
  • Possess strong communication and analytical skills.
  • 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.
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 Function Associate/Sr Associate
  • Pay Type Salary
Location on Google Maps
  • Nashville, TN, USA