AVP, Settlements & Reserves

Fortitude Re; Jersey City (NJ); Hybrid; USD 150,000 - 170,000; Full time

Benefits offered by this job

Annual bonus based on performance

Generous benefits package

Job summary

A leading reinsurance provider in Jersey City, NJ, is seeking an AVP, Settlements & Reserves to manage accounting processes for reserve and reinsurance settlements. The ideal candidate will have at least 7 years of experience in the Life & Annuity reinsurance industry, strong knowledge of US GAAP, and the ability to implement process improvements. This hybrid role offers a salary range of $150,000 - $170,000, along with a performance-based bonus and benefits package.

Qualifications

• Minimum of 7 years of progressive accounting experience in the Life & Annuity (re)insurance industry.
• Strong working knowledge of US GAAP, US STAT, and EBS accounting principles.
• Demonstrated leadership capabilities in mentoring or managing staff.

Responsibilities

• Oversee core record-to-report activities including monthly journal entries and reconciliations.
• Manage daily and month-end cash activity accounting and ensure alignment with settlements.
• Contribute to quarterly close coordination and ledger integrity reviews.

Skills

US GAAP

Financial analytics

Excel

Ledger accuracy

Problem-solving

Education

Bachelor’s degree in Accounting, Finance, or related field

CPA or CA designation preferred

Tools

SAP

Workday

Power BI

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, Settlements & Reserves is responsible for overseeing reserve, and reinsurance settlement accounting processes across all legal entities and reporting bases. This role ensures accurate journal entries and reconciliations (incl. suspense), monitors adherence to internal policies, and partners with both internal teams and external providers. The AVP plays a key role in control execution, ledger integrity, and continuous improvement across operational accounting cycles. Includes supporting strategic financial initiatives to drive organizational success. This role will be based in our Jersey City, NJ on a hybrid basis.

What You Will Do:

• Oversee core record‑to‑report activities, including monthly journal entries, accruals, and reconciliations for balances in scope across all reporting bases (incl. EBS)
• Oversee the accounting and journal entries for reinsurance settlements in collaboration with Reinsurance Ops.
• Partner with Reinsurance Ops to review and validate data inputs used for settlement and reserve accounting
• Manage daily and month‐end cash activity accounting; ensure completeness and alignment with settlements
• Oversee the accounting and journal entries for reserves in collaboration with Actuarial, and others across all reporting bases (incl. EBS)
• Manage the preparation of entries related to Sidecar transactions/balances and Modco payables ensuring timely and accurate financial reporting
• Ensure completeness, policy alignment, and internal control execution across all reserve processes
• Execute and document account reconciliations, including resolution of variances
• Identify improvement opportunities related to ledger feed processing, reserve automation, and system integration
• Contribute to quarterly close coordination and ledger integrity reviews
• Coordinate with offshore team to monitor deliverables, resolve issues, and ensure reporting accuracy and timeliness
• Identify and implement process improvements related to processes and support continuous improvement efforts through standardization, automation, and documentation
• Assist in the preparation of supporting schedules for reporting including addressing audit requests
• Collaborate with the analytics pillar to ensure ledger inputs align with analytic outputs
• Coach and mentor senior associates and analysts within the team to build technical strength and process ownership

What You Will Have:

• Bachelor’s degree in Accounting, Finance, or a related field; CPA or CA designation preferred.
• Minimum of 7 years of progressive accounting experience within the Life & Annuity (re)insurance industry gained by either working in or supporting the re/insurance industry or by working in public accounting/audit
• Strong working knowledge of US GAAP, US STAT, SFS, and EBS accounting principles and reporting requirements.
• Demonstrated experience with legal entity accounting, intercompany transactions, reserves, reinsurance, expense accounting and/or financial analytics
• Proven ability to execute and maintain internal controls, reconciliations, and ledger accuracy.
• Hands‑on experience in preparing or reviewing journal entries, and fluctuation analyses.
• Prior exposure to audits (internal/external) and ability to respond to audit queries with clarity and documentation.
• Strong Excel skills; experience with ERP and accounting systems such as SAP, Workday, and reporting platforms such as Coupa, Workiva, Power BI, or equivalent.
• Excellent analytical, problem‑solving, and written communication skills.
• Ability to work under pressure, manage deadlines, and handle shifting priorities in a dynamic environment.
• Proven ability to collaborate across departments including Actuarial, Reinsurance Ops., Treasury, FP&A, and external partners.
• Demonstrated leadership capabilities with experience mentoring or managing staff and fostering a collaborative, results‑driven culture.

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: $150,000 USD - $170,000 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.

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)

By submitting your application, you agree that Fortitude Re may collect your personal data for recruiting purposes.