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 $111 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 Senior Associate, Solvency and Capital Reporting will join the Fortitude Re Accounting and Reporting team, supporting the preparation of Statutory Financial Statements (SFS), Economic Balance Sheet (EBS), and Bermuda Solvency Capital Requirement (BSCR) reporting. The position reports to the Vice President, Solvency and Capital Reporting and works closely with teams across the organization, including actuarial, accounting, investments, and risk management. This role is based in our Bermuda office on a hybrid basis. Minimal travel is expected (0%-10%).
What You Will Do:
- Prepare and peer review the quarterly SFS, EBS, and BSCR filings for Fortitude's Group and Bermuda insurance entities.
- Act as a point of contact for the Solvency and Capital Reporting team, supporting other teams across the Company.
- Partner with finance, investments, and actuarial teams on data needs and reconciliations to report and analyze solvency positions.
- Lead the preparation of quarterly management deck slides to be presented to the executive committee to summarize results.
- Perform quarterly analysis for changes to the solvency positions and key metrics for management review.
- Interpret and explain regulatory rules to various internal functional areas and stakeholders.
- Monitor and evaluate emerging developments with Bermuda statutory rules and regulations.
- Execute controls and peer reviews as designed as part of the control framework and recommend/implement control improvements as necessary.
- Support the maintenance of the control environment in line with the Company's Internal Controls over Financial Reporting (ICFR) program.
- Assist in evaluating new business, including preparation of pro forma BSCR filings and supporting documentation for new transactions.
- Maintain accounting policy documentation regarding the company's interpretation of the EBS reporting guidelines. Recommend and execute improvements as necessary.
What You Will Have:
- Bachelor's degree or higher, preferably in accounting, mathematics, economics, or related fields.
- CPA or equivalent professional designation.
- Minimum of 5 years of relevant experience in the reinsurance industry or financial services gained either in a (re)insurance company or in public accounting.
- Familiarity with the Bermuda statutory and economic regulatory regime is preferred.
- Familiarity with life reinsurance structures and concepts is preferred.
- Excellent attention to detail, analytical skills, and the ability to adopt a creative approach to solving complex process problems.
- Ability to manage multiple work assignments and meet time commitments.
- Strong oral and written communication skills.
- Proficient in Microsoft Office, with advanced Excel skills.
- Intellectual curiosity and commitment to continuous learning, particularly in automation and AI-enabled tools.
At Fortitude Re, our strength has always come from our people. Our success is deeply rooted in our ability to embrace the unique attributes, perspectives and experiences of every individual within our company. Fostering a culture of inclusion and belonging where everyone - regardless of background, race, religion, sexual orientation or gender identity - feels valued and respected is a foundation of our culture.
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.
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