AVP – Modeling

Fortitude Re is looking for an AVP, Modeling to be a key member of the actuarial modeling team, which serves the company by providing projections to support financial reporting and projection requirements covering US GAAP and Statutory, Bermuda Economic Balance Sheet, hedging and budget/plan. The ideal candidate will have significant experience and expert-level knowledge in actuarial modeling software, a thorough understanding of a variety of products and strong project management and communication skills. The successful candidate will also exhibit industry knowledge related to actuarial modeling to support Fortitude Re on the evaluation of future acquisitions. 

The primary responsibilities of the position will be standing up models for newly acquired business and driving the enhancement of production models for Fortitude’s Inforce block under the Bermuda regulatory framework. This role will partner with risk, investments, assumptions, capital management, financial reporting and controllership teams at Fortitude to produce analysis required to manage the business and will lead efforts to understand and validate economic results.

What You Will Do:

• Play a key role in model development, model testing and validation, and production of Bermuda-compliant results.
• Execute project plans for modeling operation readiness for new business.
• Execute timely model development with appropriate testing and validation.
• Define and set up ongoing production processes.
• Execute timely ongoing production processes and deliverables to stakeholders.
• Execute controls and governance processes.
• Lead and review model governance activities to ensure accuracy and compliance with model risk standards. 
• Review and communicate results of quarterly model roll forwards.
• Implement process improvement and automation for quarterly reporting. 
• Develop new functionality to support profitability analysis and financial planning. 
• Support senior management on any ad-hoc requests such as assumption development, due diligence, future acquisitions, etc. 

What You Will Have: 

• Undergraduate degree is required, preferably in actuarial science, mathematics, statistics, or related fields.
• 7+ years of progressively more responsible actuarial experience with Life Insurance, Annuity products or ALM equivalent environment. 
• Fellow of Society of Actuaries (FSA) with 3+ years of experience post FSA, Associate of the Society of Actuaries (ASA) with 7+ years of experience post ASA, or 10+ years of relevant experience Equivalent international designation will be considered in lieu of FSA or ASA.
• Significant working experience with actuarial modeling software (e.g., AXIS).
• Good analytical skills and ability to adopt a creative approach to solving complex process problems. 
• Strong project management and communication skills. 
• High degree of proficiency in Excel, PowerPoint and Word applications as well as experience with database and programming language.  
• Ability to work with Business Intelligence (BI) tools.  Hedging experience is a plus.

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