VP, Derivatives Accounting

Fortitude Re

Nashville (TN)

On-site

USD 150,000 - 200,000

Full time

14 days+

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Benefits offered by this job

Annual bonus based on performance

Generous benefits package

Job summary

A leading reinsurance firm in Nashville seeks a Vice President of Derivatives Accounting to lead their Derivatives Accounting & Reporting Center of Excellence. The role involves ensuring accurate reporting across various accounting bases, driving automation initiatives, and collaborating with senior leadership. The ideal candidate has over 12 years of experience in accounting, particularly in derivatives, and possesses strong communication skills. Base salary ranges from $150,000 to $200,000 USD with bonuses and benefits.

Qualifications

12+ years of accounting experience with focus on derivatives.
Deep knowledge of GAAP, STAT, Bermuda SFS, EBS.
Demonstrated ability to process complex derivative portfolios.

Responsibilities

Lead Derivatives Accounting & Reporting Center of Excellence.
Ensure timely processing of derivative transactions.
Partner with Actuarial for accurate reserve flow.

Skills

Leadership in SOX/internal controls

Technical expertise in valuation governance

Analytical and problem-solving skills

Strong communication skills

Education

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

Tools

Clearwater Analytics

SAP

Job description

Company Overview

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 its leadership go back many decades.

Role Overview

Fortitude Re is establishing a Center of Excellence (CoE) for derivative accounting expertise, governance, and reporting. This CoE will own accounting and reporting across GAAP, STAT, Bermuda SFS, and EBS, ensuring accuracy, regulatory compliance, and transparency. As Vice President of Derivatives Accounting, you will command all derivative transactions, lead automation initiatives, and translate complex derivative activity into insights for senior leadership, regulators, and auditors. You will report to the SVP, Investment Accounting Controller.

Responsibilities

Lead Fortitude Re’s Derivatives Accounting & Reporting Center of Excellence (CoE), serving as the enterprise hub for expertise, governance, and reporting.
Own end‑to‑end derivative accounting and reporting across GAAP, STAT, Bermuda SFS, and EBS.
Ensure all derivative transactions are processed completely, accurately, and on time, holding teams and vendors accountable.
Oversee Clearwater processing, ensuring data quality, reconciliations, and mapping to SAP are correct.
Hold Clearwater and other vendors accountable for service‑level performance and elevate issues when SLAs are not met.
Drive future‑state automation and AI adoption to streamline reconciliations, exception management, and reporting.
Direct daily and monthly derivative reconciliations across Clearwater, custodians, counterparties, and the general ledger.
Oversee valuation governance, including price validations, vendor comparisons, stale‑price monitoring, and override approvals.
Lead preparation of derivative disclosures for GAAP/STAT financial statements, NAIC schedules, and Bermuda filings.
Ensure derivative results are reported by legal entity, accounting basis, and reinsurance deal, linking outcomes to treaty economics.
Investigate and resolve valuation and income variances, ensuring transparency and appropriate documentation.
Provide insightful performance analysis and narratives to the CFO, CIO, and senior leadership.
Coordinate with Risk, Treasury, and Front Office Investments to ensure data integrity and alignment with ALM strategies.
Partner with the Actuarial function to ensure derivative results flow accurately into reserves and capital reporting.
Maintain SOX and internal control compliance for all derivative accounting and reporting processes.
Present results, assumptions, and governance matters to senior committees, auditors, and regulators.
Lead derivative‑related audit responses and ensure documentation is complete, accurate, and timely.
Manage and mentor a team of resources to ensure high‑quality execution.
Champion a culture of process improvement, accountability, and cross‑functional collaboration.
Serve as Fortitude Re’s senior voice on derivative accounting in discussions with regulators, rating agencies, and external auditors.

Qualifications

Bachelor’s degree in Accounting, Finance, or related field (CPA strongly preferred).
12+ years of accounting experience with a focus on derivatives and capital markets.
Deep knowledge of multi‑basis accounting and reporting (GAAP, STAT, Bermuda SFS, EBS).
Demonstrated ability to ensure complete, accurate, and timely processing of complex derivative portfolios.
Experience leading Clearwater Analytics operations.
Strong technical expertise in valuation governance, including price validation, vendor comparisons, overrides, and stale‑price monitoring.
Proven ability to manage cross‑functional collaboration with Investments, Risk, Treasury, Actuarial, and Finance.
Demonstrated leadership in SOX/internal controls design and compliance for derivatives accounting.
Strong communication skills with experience presenting to executives, committees, auditors, regulators, and rating agencies.
Track record of leading transformation initiatives, including automation, AI adoption, and process redesign.
Experience building, leading, and mentoring high‑performing teams.
Strong analytical, problem‑solving, and organizational skills with attention to detail.
Ability to connect results across legal entities, accounting bases, and reinsurance deals to treaty economics and capital optimization.
Preferred (optional): Public accounting background or Big 4 experience with insurance/reinsurance clients.

Salary & Benefits

Base Salary Range: $150,000 USD – $200,000 USD

All employees are eligible for an annual bonus based on company and individual performance and a generous benefits package.

Commitment to Inclusion and Equal Opportunity

At Fortitude Re, our strength has always come from our people. We foster a culture of inclusion and belonging where everyone—regardless of background, race, religion, sexual orientation or gender identity—feels valued and respected.

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.

Recruitment Note

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.

Reference

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