AVP, Modeling

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.

This AVP, Modeling role reports to the VP, FACET Modeling Actuary. The Fortitude Analytics and Computational Evaluation Tool (FACET) is an in-house build actuarial modeling platform supporting statutory, GAAP, capital, hedging, embedded value, and long-range projection use cases. The platform is in a rapid-moving phase to standup and expand. The AVP, Modeling Actuary will play a critical role to ensure the timely delivery of modeling capacities with operation integrity, and ensure FACET remains stable, auditable, scalable, and aligned with enterprise financial and risk objectives. 

This role will be based in our Jersey City, NJ office on a hybrid basis.

What You Will Do: 

• Support FACET actuarial modeling platform standup and expansion.


• Work closely with model developers and end users to ensure timely delivery of functionalities. 


• Ensure proper design and change management of data, actuarial code, interface and pipeline automation.


• Test and validate cross-module model changes.


• Ensure FACET supports enterprise ALM use cases including:  
  
  
  
  • Long-Range Projections (LRP) 
  
  
  • Embedded Value (EV)
  
  
  • Pricing (challenger and production applications) 
  
  
  • Capital / BSCR 
  
  
  • AIL / SBA / CFT 
  
  
  
  


• Assist for proper documentation of modeling and methodology changes to the Governance Committee where required.


• Ensure proper model development life cycle.

What You Will Have:

• Bachelor's degree in finance, mathematics, statistics, computer science or related field.


• 7+ years of progressively more responsible actuarial experience with Life Insurance, Annuity products or ALM equivalent environment.


• Proficient in Python, Julia, SQL, GitHub and standard modeling tools and technology.


• Demonstrated analytical ability to analyze large and complex data sets and deliver insights to drive business decisions.


• Ability to work in a dynamic professional environment and handle multiple projects and deadlines.


• Ability to build relationships and communicate effectively across multiple levels and functions.


• Experience transitioning from vendor modeling platforms to internally developed solutions, preferred. 


• Ability to use/review/validate AI-generated code, preferred.


• Familiarity with open-source development practices, version control, CI/CD, and testing frameworks, preferred.

#LI-Hybrid