Assistant Vice President, Investment Accounting

Fortitude Re; Nashville (TN); On-site; USD 145,000 - 165,000; Full time

Benefits offered by this job

Generous benefits package

Job summary

Fortitude Reinsurance Company Ltd. (Fortitude Re) in Nashville seeks an AVP, Investment Accounting Manager to oversee month-end and quarter-end close for a complex investment portfolio, ensuring GAAP, US STAT and Bermuda STAT reporting.

The role leads a team, partners with front-office, supports audits, and drives process improvements with SOX controls. Strong analytical skills and CPA are required; experience with investment accounting platforms such as Clearwater is highly valued.

Qualifications

• Bachelor’s or Graduate degree in Accounting or Finance; CPA or equivalent required.
• Minimum 7+ years accounting experience, 3+ years in investment accounting for insurance/reinsurance with BIG 4 background.
• Experience applying U.S. GAAP and STAT investment accounting principles and reporting.
• Experience with Life, Annuities and Property Casualty lines is highly desired.
• Strong analytical, project management and leadership skills.
• Ability to work effectively with internal/external stakeholders and front-office teams.

Responsibilities

• Onboard and integrate new portfolios into Fortitude Re's investment accounting platform and build reporting for new portfolios.
• Manage quarterly and yearly footnotes, MD&A, Statutory exhibits, debt reporting covenants, and audit committee reports.
• Perform investment yield analysis and establish performance metrics.
• Prepare quarterly earnings reports and annual audited statements including footnotes and rating agency reporting.
• Conduct quarterly investment valuation and reconciliation controls for internal governance.
• Create automated investment reporting to support portfolio financial reporting and analysis.
• Support external audits, related testing and audit work papers.
• Review postings of general ledger entries for investment activity under GAAP and STAT.
• Monitor emerging accounting guidelines (FASB/NAIC) for strategic decisions and compliance.
• Develop analytic tools to monitor results and trends for efficient reporting and controls.
• Partner with front-office investment teams to define reporting for new transactions or policy changes.
• Lead and mentor a high-performing team.

Skills

Analytical skills

Project management

SOX controls experience

Investment accounting knowledge

Team leadership

Education

Bachelor’s or Graduate degree in Accounting or Finance

CPA certification

Tools

Clearwater investment accounting platform

Microsoft Excel

Microsoft Office

Job description

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 herefor moreinformation about Fortitude Re.

The AVP, Investment Accounting Manager is responsible for managing the day-to-day of the investment accounting team and Fortitude Re’s investment accounting platform for the month-end and quarter-end close of all investment accounting and reporting for the company’s complex portfolio of investments. This includes performing detailed analysis of investment results and communicating to senior management under multiple bases of accounting (GAAP, US STAT, Bermuda STAT, Management Reporting). The AVP will run and manage the analysis of net investment income, realized gains and losses, investment yields, investment balances by asset class, etc. as well as provide support to Capital teams for the investment results and reporting requirements. This position will support the investment accounting internal control environment under Sarbanes Oxley and the NAIC Model Audit Rule. Additionally, this role will manage and review the general ledger activity, reconciliations, audit support, and ad hoc projects as the company acquires more blocks of business.This position requires strong business and financial acumen to handle complex situations and will report into the Vice President of Investment Accounting.

What You Will Have:

• Onboarding and integration of new investment portfolios to the Fortitude Re's investment accounting platform, including the build-out of the reporting associated with the new portfolios. Build out financial reporting process and controls to support investment financial reporting requirements under GAAP, US STAT and Bermuda Statutory frameworks.
• Manage and assist compilation of quarterly and yearly footnotes, MD&A, Statutory investment exhibits, debt reporting covenants, valuation committee and audit committee reports.
• Complete investment yield analysis and establish related performance metrics.
• Assist in the preparation of quarterly earnings reports and annual audited financial statements including footnotes and rating agency reporting.
• Perform quarterly investment valuation and reconciliation controls supporting the internal control environment.
• Create interactive automated investment reporting within Fortitude Re's investment accounting platform to facilitate portfolio financial reporting and analysis as well as be responsible for automating manual processes and controls for efficiency and effectiveness.
• Facilitate and assist with external audits, related testing and the completion of audit work papers.
• Review and compile investments data including posting general ledger entries for investment activity under both GAAP and STAT accounting.
• Support impact assessment of emerging investment accounting guidelines (FASB and NAIC) to facilitate strategic business decisions and compliance oversight.
• Develop and maintain analytic tools to monitor results and trends to facilitate an efficient and controlled reporting and accounting environment.
• Effectively partner with front-office investment teams and investment managers to assess and define investment reporting for new transactions or changes in accounting policy.
• Build and lead a high-performing team, providing mentorship and guidance to develop skills aligned with team priorities.

What You Will Have:

• Bachelor’s or Graduate degree in Accounting or Finance with CPA or equivalent accounting certification must.
• Minimum 7+ years accounting experience, with 3 or more years of investment accounting experience with an insurance/reinsurance with BIG 4 background must.
• The ideal candidate must have investment reporting experience as well as public company SOX controls experience.
• Experience managing and developing a team of investment accounting professionals.
• Demonstrated strong analytical and project management skills.
• Demonstrated ability to apply U.S. GAAP and STAT investment accounting principles and reporting.
• Experience with Life, Annuities and Property Casualty lines of business highly desired.
• Proven track record for exceeding expectations on various, simultaneous projects with tight deadlines.
• Capable of communicating and expressing ideas clearly and concisely, in both written and verbal formats.
• Review forecasts and trends and identify potential issues and opportunities.
• Proficient in Microsoft Office products, with strong proficiency in Microsoft Excel.
• Ability to build and maintain working relationships with internal and external asset managers, accounting, compliance, actuarial, management, and systems personnel from junior staff to executive level.
• Experience with Clearwater investment accounting platform highly desired.

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.

Base Salary Range: $145,000 USD - $165,000 USD

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.

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