AVP, Treasury FHLB & Secured Funding

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.

Reporting into the VP, Treasury M&A and Trading, the successful applicant will bring direct experience managing Federal Home Loan Bank (FHLB) membership, including collateral pledging, advance structuring, and stock requirements, to support our company's FHLB membership and ongoing funding strategy. This role will manage the pledging and monitoring of eligible collateral, optimize borrowing capacity, and integrate FHLB advances into our broader liquidity and asset-liability management framework. The ideal candidate will bring hands-on knowledge of FHLB credit policies and regulatory/statutory reporting requirements, ideally gained within an insurance company setting.

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

What You Will Do: 

Relationship Management

• Lead FHLB membership management, including eligibility analysis, activity stock calculations, and general coordination with the regional FHLBank.


• Liaise with Investments, Stat Reporting, Legal, Corporate Development, and Actuarial Pricing Teams on admitted asset treatment, pledge limits, and any required regulatory approvals tied to FHLB membership and borrowing capacity.


• Partner with Investments, Legal, and Accounting on structuring FHLB-funded spread strategies.  

Collateral Management 

• Manage the pledging and monitoring of eligible collateral (RMLs, agency MBS/CMBS, and other qualifying securities) to secure FHLB advances. 


• Monitor collateral haircuts/discount rates applied by the FHLB and optimize the asset mix pledged to maximize borrowing capacity. 


• Track borrowing base, activity stock requirements, and membership stock requirements relative to advances outstanding. 


• Coordinate advance requests (fixed vs. floating, maturity structuring) in line with ALM and liquidity strategy.


• Work with custodian banks on collateral movement, safekeeping, and pledge account administration.


• Assist team with other collateral related business management, specifically trust collateral, FABR collateral, and derivatives collateral.

Liquidity Management

• Incorporate FHLB advances into the company's broader liquidity risk management framework and contingency funding plan.


• Model the cost/benefit of FHLB funding vs. alternative liquidity sources (repo, letter of credit, intercompany facilities) for spread-lending or working capital strategies.


• Support stress testing and scenario analysis incorporating FHLB advance capacity as a liquidity backstop.


• Arrange and administer intercompany funding solutions, including the use of intercompany securities lending/repo arrangements, and maintain accurate tracking of intercompany positions, exposures, and settlements.

Reporting & Compliance 

• Assist with internal and regulatory reporting related to FHLB membership, advances outstanding, and pledged collateral (NAIC disclosures, statutory filings, rating agency inquiries). 


• Maintain compliance with FHLB Bank credit policies, member agreements, and pledge/security agreements.


• Partner with external investment managers to ensure accurate and timely compliance reporting related to FHLB-pledged assets and eligible collateral holdings.

What You Will Have: 

• Bachelor’s degree in finance, Accounting, Business or related field.


• Understanding of insurance statutory accounting as it relates to FHLB stock and collateral.


• 7+ years of insurance, banking, accounting, corporate finance, investments or related experience with leadership experience.


• Direct experience with FHLB membership application, advances, and/or collateral pledging (ideally at an insurer, given the unique admitted-asset/regulatory overlay vs. bank members).


• CFA, CTP, CPA or similar designation is desirable but not required.


• Proficiency in Bloomberg.


• Familiarity with FHLBank's credit policies. 


• Direct experience in reinsurance transactions of Life and Annuity and/or Property and Casualty blocks of business a plus.


• Experience in treasury management systems.


• Be detail oriented and highly organized.


• Possess strong verbal / written communication and analytical skills.


• Highly motivated and results oriented.


• Proven ability to work independently and handle multiple complex tasks in a fast-paced environment.


• Excellent attention to detail.

#LI-Hybrid