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Jersey City, New Jersey, United States
Onsite
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 of Investment Accounting is responsible for the compilation of monthly and quarterly investment data for Fortitude Re which includes the 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 VP, Derivative Accounting, and provides the opportunity for professional development and career advancement.
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.
Perform detailed analytical review of investment income, yields, fair value changes, and realized/unrealized gains and losses.
Support quarterly and annual statutory and GAAP investment disclosures and footnotes.
Assist in implementation and onboarding of new investment portfolios related to block acquisitions.
Support regulatory filings and ad hoc requests related to Bermuda Monetary Authority (BMA) requirements.
Execution of internal control procedures over a diverse asset class mix including derivatives, fixed income securities, equities, commercial mortgage loans, private equity, hedge funds, and real estate.
Provide detailed investments data for Economic Balance Sheet calculations and Bermuda reporting.
Work with Fortitude Re’s investment accounting platform to ensure completeness and accuracy.
Monitor, research, and resolve issues related to investment suspense account balances.
Ensure compliance with SOX and internal control frameworks, including documentation and walkthrough support.
Identify control gaps and recommend enhancements to mitigate operational and financial reporting risk.
Perform variance analysis and investigative procedures on investment balances and income trends.
Liaise with internal and external audit teams in order to provide requested information and appropriate evidence of the operation of internal controls.
Lead the private equity operations process, which includes extraction of relevant financial data from fund capital account statements, completion of system upload templates and related internal control procedures.
Drive continuous improvement initiatives within the investment close cycle.
Participate in system enhancements, UAT testing, and automation implementation initiatives.
Develop and maintain desktop procedures and process documentation.
Leverage AI-enabled tools and advanced analytics to improve efficiency, accuracy, and scalability of securities accounting processes, including reconciliations, variance analysis, close activities, and reporting.
Foster a culture of accountability, quality, and continuous improvement aligned with Fortitude Re’s core values.
What You Will Have:
Bachelor’s or Graduate degree in Accounting or Finance; CPA preferred.
Minimum of 5 years of relevant experience in the reinsurance industry or financial services.
Experience managing large volumes of data, with strong general ledger and/or analysis tool systems background.
Strong understanding of GAAP and STAT investment accounting principles.
Knowledge of derivative accounting principles (ASC 815) and familiarity with derivative products.
Familiarity with reinsurance structures and investment implications preferred.
Experience with Power Query, SQL, or similar data query/transformation tools 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 creative strategic thinker.
Strong management and collaboration skills, with the ability to manage processes working with a diverse team across multiple departments and locations.
Detail-oriented with strong analytical and problem-solving capabilities.
Ability to operate in a fast-paced, growth-oriented environment.
Strong ownership mindset with the ability to work independently while collaborating cross-functionally.
Intellectual curiosity and commitment to continuous learning, particularly in automation and AI-enabled tools.
The base salary range for this role is listed below and will be commensurate with candidate experience. Pay ranges for candidates may differ based on the cost of labor in that location. In addition to base salary, all employees are eligible for an annual bonus based on company and individual performance as well as a generous benefits package.
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.
Check us out on YouTube: About Fortitude Re (youtube.com)
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