Assistant Vice President, Property and Casualty (P&C) Reserving Actuary

Nashville, TN, USA ● New Jersey, USA ● Virtual Req #626
Monday, May 15, 2023
Fortitude Reinsurance Company Ltd. (Fortitude Re) is one of the world’s leading providers of legacy reinsurance solutions. They work with the world’s leading insurance companies to help them execute comprehensive, transformational solutions for legacy Life & Annuity and P&C lines. Fortitude Re manages a general account of approximately $55 billion across life, annuity, and property & casualty insurance products. The company takes a long-term view on growth and is proud to be backed by a consortium of sophisticated institutional investors led by The Carlyle Group and T&D Insurance Group. Incorporated under the laws of Bermuda on January 1, 2017, Fortitude Re’s roots in the insurance industry and the experience of their leadership go back many decades. Fortitude Re’s leadership team has an average industry tenure of over 20 years, and an impressive track record of successfully managing the most complex legacy liabilities. Their deep insurance experience and proprietary risk modeling capabilities allow them to structure bespoke transactions that benefit both insurance companies and their policyholders. Fortitude Re continues to strengthen its ability to pursue further growth and provide innovative solutions for the global insurance industry.   Click here for more information about Fortitude Re.

Fortitude Re, is a Class E and Class 4 licensed Bermuda liability-led reinsurer of legacy insurance portfolios complemented by sophisticated investment capabilities. We are actively recruiting an AVP P&C Reserving Actuary who will sit on the second line, reporting to the P&C Risk Officer of Fortitude Re and will be an important member of the Enterprise Risk Management (ERM) team. The ERM team is responsible for the review, challenge and support the first line to identify, quantify, remediate and manage all risks of the organization from end-to-end.

This role can be based in our Nashville, TN or Jersey City, NJ office on a hybrid basis or can be remote with minimal travel expected (0%-15%).

What You Will Do:

  • Carry out detailed valuation reviews on in-force reserves.
  • Assist in the ERM review on new transactions.
  • Provide support on process being managed by ERM such as the challenger model process and the external best estimate reviews.
  • Partner with the P&C Risk Officer and Chief Risk Officer of Fortitude Re to support first-line risk management.
  • Ensure the integrity and insightfulness of all risk information reported internally and externally.
  • Assist in the design, continuous refinement and implementation of a robust risk management framework, in line with industry best practices and the policies and expectations of regulators – with specific responsibilities to ensure the framework is appropriate for the large portfolio of P&C liabilities reinsured by Fortitude Re.
What You Will Have:
  • At least 7 plus years of P&C reserving experience.
  • ACAS or newly qualified FCAS (or other equivalent actuarial designations).
  • Bachelor’s degree in a quantitative discipline such as math, engineering, statistics, actuarial science, etc.
  • Long-tailed lines reserving experience.
  • Experience in carrying out independent reserve reviews.
  • Experience with using reserving software such as ResQ, Arius or other equivalents.
  • Ability to adequate challenge and constructively criticize first line work.

The base salary range for this role is $151,391.00 - $186,671.00 and will be commensurate with candidate experience. Pay ranges for candidates may differ based on the cost of labor in that location. In addition to base salary, all employees are eligible for an annual bonus based on company and individual performance as well as a generous benefits package. 

What We Offer:
We offer competitive benefits in a fast-paced, dynamic and nimble culture including:
  • Unlimited PTO policy
  • Actuarial exam support through our Actuarial Development Program
  • Up to 11 paid company holidays
  • Up to 16 hours per year of paid volunteer time 
  • Competitive 401(k) plan
  • Paid parental leave
  • Tuition reimbursement
  • Health, vision, dental, and life insurance with additional access to health and wellness programs
  • Flexible working environment
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. 

We are committed to being an equal opportunity employer and evaluate qualified applicants without regard to race, color, religion, sex, pregnancy (including childbirth, lactation and related medical conditions), national origin, age, physical and mental disability, marital status, sexual orientation, gender identity, gender expression, genetic information (including characteristics and testing), military and veteran status, diversity of thought and any other characteristic protected by applicable law.

To all recruitment agencies
:  Unless you have been requested to work on this position, or other positions with Fortitude Re, please do not forward any resumes to Fortitude Re employees.  Fortitude Re is not responsible for any fees related to unsolicited resumes.

Other details

  • Job Family RK - Risk
  • Job Function AVP
  • Pay Type Salary
Location on Google Maps
  • Nashville, TN, USA
  • New Jersey, USA
  • Virtual