Assistant Vice President & Actuary, Life Valuation and Consolidation

Nashville, TN, USA ● Virtual Req #634
Friday, May 26, 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.

The AVP, Life & Annuity (L&A) Valuation and Financial Reporting candidate will be a key member of the Fortitude Life and Annuity Valuation team, which serves the company by supporting valuation and financial reporting requirements for US GAAP and Statutory accounting for reinsurance and acquired businesses. This position will report to the VP, Life & Annuity (L&A) Valuation and will be responsible for performing the consolidation and valuation of Financial Reporting of Fortitude Re’s Life and Annuity business including the new $28 Bn Nova (Lincoln Financial) reinsurance transaction.

The position is preferred to be located in the Fortitude Re Nashville, TN office on a hybrid schedule with minimal travel expected (0%-15%). Remote candidates will be considered.

What You Will Do:

  • Consolidate valuation results for financial reporting purposes across Fortitude’s lines of business including Traditional Life, Universal Life, Payout Annuity, Fixed and Indexed Deferred Annuity and Accident & Health (A&H).
  • Serve as the technical expert and supervise all technical aspects of the valuation actuarial team to update, run, and report on all US GAAP and Statutory liabilities for Life and Annuity contracts assumed by Fortitude Re.
  • Conduct GAAP Loss Recognition and Gains followed by Losses Testing.
  • Establish and conduct periodic unlocking of Deferred Gain, Cost of Reinsurance Asset and VoBA Liability schedules.
  • Development and maintenance of the robust control infrastructure.
  • Support development and maintenance of a production valuation data and calculation environment for multiple valuation models, primarily Axis.  The environment will be data centric, minimize the use of spreadsheets, and have a robust control infrastructure.  The data environment will tie to the Fortitude Ledger or values reported to ceding companies.
  • Support the technical aspects in developing the reporting infrastructure with an emphasis on building repeatable processes with built-in review capability.
  • Work with internal and external auditors in their periodic reviews.
  • Assist in the review, understanding, and interpretation of results.  Provide technical expertise in formally explaining variations in earnings vs the best estimate expectation and prior period.
  • Communicate consolidated results to senior management through memos, PowerPoint presentations, and providing insights and answers to questions.
  • Use pacesetting and perform technical actuarial work where necessary to fill any gaps on the valuation team, working in a team environment
  • Follow emerging regulatory and tax developments, and facilitate learning materials and presentations for the finance and actuarial teams.  

What You Will Have:

  • 5+ years of experience, ideally dealing with valuation and financial reporting.
  • Undergraduate degree required (preference for mathematics, actuarial sciences, and other quantitative fields).
  • Project management, detail oriented, and strong organizational skills.
  • Associateship of the Society of Actuaries (ASA), Fellowship of Society of Actuaries (FSA) or an equivalent designation.
  • Excellent mathematical, analytical and problem-solving skills with attention to detail.
  • Mathematical and actuarial knowledge, computer and actuarial software skills, analytical.
  • Problem solving and a basic business sense of financial, accounting and economics aspects of business.
  • Proficient with MS Word, Excel, and strong ability to work with and understand data. 
  • Experience with AXIS or other valuation and actuarial modeling platforms.
  • Significant technical experience and US Statutory and US GAAP valuation knowledge.
  • Excellent written and oral communication skills.
  • Highly motivated, results- and goal-oriented with the ability to manage multiple projects. independently and with a high level of discipline.


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
  • Up to 11 paid company holidays
  • Up to 16 hours per year of paid volunteer time 
  • Competitive 401(k) plan
  • Paid parental leave
  • Learning and Development Stipend
  • 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 AC - Actuarial
  • Job Function AVP
  • Pay Type Salary
Location on Google Maps
  • Nashville, TN, USA
  • Virtual