Senior Associate, Investment Accounting
Job Description
Fortitude Reinsurance Company Ltd. (Fortitude Re) is one of the worldās leading providers of legacy reinsurance solutions. They work with the worldās 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 Reās roots in the insurance industry and the experience of their leadership go back many decades. Fortitude Reās 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.Ā Ā Ā ClickĀ hereĀ for moreĀ information about Fortitude Re.
The Senior Associate of Investment Accounting is responsible for the compilation of monthly and quarterly investment data for Fortitude Re which includes analysis of net investment income, realized gains and losses, investment yields, investment balances by asset class, etc. This position will be involved in recording activity into the GL, reconciliations, audit support, and ad hoc projects as the company acquires more blocks of business. This position will report to the AVP, Investment Accounting Manager and provide the employee the opportunity for professional development and career advancement.Ā This role will be based in our Jersey City, NJ office on a hybrid basis.Ā
What You Will Do:
- Support the accounting close process, including preparation of journal entries and corresponding balance sheet reconciliations for both GAAP and STAT bases of accounting.Ā
- Execution of internal control procedures over a diverse asset class mix including Fixed Income and Equities, Commercial Mortgage Loans, Private Equity, Hedge Funds and Real Estate.
- Provide detailed investments data for Economic Balance Sheet calculation and Bermuda reporting.Ā
- Work with Fortitude Reās investment accounting platform to ensure completeness and accuracy.Ā
- Monitor, research, and resolve issues related to investment suspense account balance.Ā
- Liaise with internal and external audit teams in order to provide requested information and appropriate evidence of the operation of internal controls.Ā
What You Will Have:
- Bachelorās or Graduate degree in Accounting or Finance - CPA preferred.Ā
- Minimum of 5 years of relevant experience in reinsurance industry or financial services.
- Knowledge of investment products: Fixed Income and Equities.
- Experience managing large volumes of data, with strong general ledger and/or analysis tool systems background.
- Experience with PowerQuery, Alteryx, Tableau or similar products desired.
- Experience using Clearwater investment accounting platform desired.
- Excellent communication, presentation, and interpersonal skills.
- Proven ability to manage multiple deliverables and meet deadlines.
- Proficient in Microsoft Office products, with strong proficient in Microsoft excel.
- Highly motivated and created / strategic thinker.
- Strong management and leadership skills, with the ability to manage processes working with a diverse team across multiple departments and locations.
#LI-Hybrid
What We Offer:
Ā
We offer our employees competitive benefits in a fast-paced, dynamic and nimble culture including:
- Unlimited PTO policy
- Up to 12 paid company holidays
- Up to 16 hours per year of paid volunteer timeĀ
- Competitive 401(k) plan - US Employees Only
- Paid parental leave
- Learning and Development Stipend
- Mental Health and Wellbeing support
- Health, vision, dental, and life insurance with additional access to health and wellness programs
- Flexible working environment
- Actuarial Exam Support through our Actuarial Development Program (ADP) for Actuarial employees
- Actuarial Program Rotation for ADP employees
- For all Actuarial Life AVP and above roles not based out of our Nashville, TN office: 30% travel is required to our Nashville, TN office
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.Ā
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.Ā
To all recruitment agencies:Ā 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.Ā Fortitude Re is not responsible for any fees related to unsolicited resumes.
Check us out on YouTube: Ā About Fortitude Re (youtube.com)
By submitting your application, you agree that Fortitude Re may collect your personal data for recruiting purposes.Ā
Date Posted
08/23/2024
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