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 $55 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 Vice President of Enterprise Risk Management (ERM) is responsible for driving and enhancing the enterprise risk management framework of Fortitude Re. The role focuses on identifying, assessing, mitigating, and monitoring risks that may affect the organization’s ability to achieve its strategic objectives. Reporting directly to the SVP, Enterprise Risk Management, the VP will work closely with senior leadership to embed risk awareness into decision-making processes, supporting and monitoring the management of strategic risks. This position will play a critical role in fostering a risk-aware culture and require an individual with strategic thinking and strong collaboration skills.
What You Will Do:
Bermuda Regulatory Relations and Governance
• Provide support with regulatory reviews, examinations, audits, and inspections conducted by the BMA, and regulatory applications and responses by Fortitude.
• Support the development and filing of the Company’s CISSA and GSSA reports.
• Participate in the industry group initiatives and represent Fortitude Re.
• Monitor, assess, and manage, across various functions, regulatory changes and industry developments.
• Act as project manager, taking ownership of and coordinating various workstreams involving multiple functions (e.g. investments, actuarial, legal, deals, risk).
• Communicate with leadership team of ongoing workstreams and proactively propose solutions to foreseen issues.
Enterprise Risk Strategy & Governance
• Support the enhancement and execution of the company’s enterprise risk management strategy.
• Support the enhancement and implementation of an enterprise risk governance structure.
• Maintain enterprise-wide risk policies, frameworks, and processes.
Risk Framework
• Collaborate with business units and departments to identify potential risks and conduct enterprise-wide risk assessments, supporting the development of risk mitigation strategies.
• Oversee, support, and evaluate the implementation of risk controls and mitigation strategies.
• Leverage data and analytics to monitor and assess risk metrics, KPIs, and thresholds.
• Prepare risk reports for management and board risk committees
• Monitor emerging risks and industry trends that could impact the organization.
• Stay informed on industry trends, best practices and evolving regulatory requirements, to support with risk reporting and disclosures.
What You Will Have:
• Bachelor’s degree in Finance, Business Administration, Risk Management, or a related field.
• 10+ years of progressive experience in risk management, audit or compliance function with at least 6 years in (re)insurance industry including life or annuity experience.
• Professional certification in risk management (e.g., FRM, PRM, CERA, or equivalent) is a plus.
• Knowledge of Bermuda regulatory regions, US GAAP, and US Stat relating to life and/or annuities preferred, but not required.
• In-depth knowledge of risk management principles, methodologies, and best practices.
• Strong analytical and problem-solving and decision-making skills.
• Excellent communication and presentation skills, with the ability to convey complex risk concepts to diverse audiences.
• Strong project management skills.
• Demonstrated ability to lead and influence teams without formal authority, fostering collaboration, and motivating cross-functional team members to achieve project objectives.
#LI-Hybrid
What We Offer:
We offer our employees competitive benefits in a fast-paced, dynamic and nimble culture including:
- Unlimited PTO policy
- Up to 12 paid company holidays
- Up to 16 hours per year of paid volunteer time
- Competitive 401(k) plan - US Employees Only
- Paid parental leave
- Learning and Development Stipend
- Mental Health and Wellbeing support
- Health, vision, dental, and life insurance with additional access to health and wellness programs
- Flexible working environment
- Actuarial Exam Support through our Actuarial Development Program (ADP) for Actuarial employees
- Actuarial Program Rotation for ADP employees
- For all Actuarial Life AVP and above roles not based out of our Nashville, TN office: 30% travel is required to our Nashville, TN office
At Fortitude Re, we believe that diversity and inclusion are critical to our future and our mission- creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.
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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What We Do
Born as an innovative system integrator in 2009, Databiz evolves in 2018 into a holding company (Databiz Group), in order to scale fast and face the evolving market scenario.
2021 is a milestone year: Databiz Group transforms into Fortitude Group, aggregating innovative competences and methodologies to address the contemporary digital transformation challenges. This rename and rebrand represents a significant step in the company’s evolution, redefining the Group’s identity, driving change and shaping the future of the entire ICT landscape.
The Group includes:
- Bitrock
- Radicalbit
- ProActivity
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