Job Summary

Actuary, Model Validation develops and maintains our Microsoft Excel based model validation tools for various use cases and product lines.  The tools are essential to our governance process and need to be maintained in an efficient manner.  This role will also ensure that we look for ways to continue to gain efficiencies in the process, possibly utilizing additional applications.

This position reports to the AVP, Model Validation and will manage 2 actuarial resource, including responsibilities for developing the actuarial staff.

Duties and Responsibilities

• Collaborating with various teams to understand required changes to Corporate AXIS models used for pricing, inforce management, ALM, and valuation purposes
• Independently updating the Microsoft Excel validation tools to incorporate the necessary changes using model change management controls and efficient programming algorithms
• Ensure validation tools are developed and maintained using efficient methods
• Serving as the F&G expert on the Corporate AXIS model validation tools by providing technical support and relevant training to other actuarial users that are internal and/or external to the team
• Developing and driving enhancements to create repeatable and scalable processes
• Maintaining comprehensive documentation
• Fostering a risk aware culture within the team
• Lead and manage actuarial staff, ensuring team goals are met while developing and implementing development initiatives to enhance the skills and knowledge of actuarial staff. Fostering a collaborative and growth-oriented environment.

Experience and Education Requirements

• Bachelor’s degree in mathematics, statistics, actuarial science or related field
• FSA preferred
• 5+ years of related actuarial experience
• Experience with and knowledge of reporting and modeling of US Statutory and US GAAP reporting preferred
• Experience with Fixed Indexed Annuity, Registered Index-Linked Annuity, or reinsurance thereon, preferred
• Experience with and knowledge of AXIS or similar actuarial modeling software preferred

Knowledge, Skills & Abilities

• Extensive experience with Microsoft Excel
• Experience with VBA, Python, R, or other programming languages preferred
• Strong problem-solving skills that include advanced analytical and reasoning abilities
• Demonstrate ability to apply actuarial principles to complex situations
• Unconditional integrity and commitment to delivering accurate information on schedule
• Team player with demonstrated ability to proactively identify issues and to influence key project decisions to achieve desired outcomes
• Self-starter who demonstrates strong initiative and is able to operate efficiently in unpredictable and challenging project environments
• Excellent verbal, written, interpersonal, and presentation skills (including communicating with and presenting to all levels of management)

Physical Demands and Work Environment

• Regular and punctual attendance
• Some travel required (less than 10%)

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The Assistant Vice President (AVP) M&A & Reinsurance Risk Analyst is responsible for supporting the identification, assessment, monitoring, and mitigation of reinsurance transaction risks within the organization. This role involves working closely with pricing actuaries, corporate development, investments, and other functions to evaluate proposed reinsurance transactions. Through effective, in-depth challenge, this role will assure all key risks are identified and disclosed, assumptions are reasonable, pricing models are accurate, and transaction governance requirements are followed. The AVP will advise the SVP Life & Annuity Risk Officer and the Fortitude CRO on transactions prior to submission of offers.

This position will report into the SVP, Life & Annuity Risk Officer and will be an experienced technical contributor playing a key role in the risk oversight of Fortitude Re’s life and annuity reinsurance transactions.

This role will be based remotely.

What You Will Do:

• Review transaction documents including deal information memorandum, appraisals, product profiles, contracts, experience studies, and other materials associated with prospective transactions.
• Review pricing assumptions and internal underwriting diligence.
• Review the analysis of cedants’ experience to ensure sufficient diligence was performed, data is credible, and proper controls were employed in setting assumptions.
• Review investment strategies and their inherent risks in light of liabilities in a given transaction.
• Ensure pricing assumptions are reasonable in light of cedant’s experience, company experience, industry experience, and professional judgment.
• Validate pricing models and results.
• Review pricing model design, results, and the peer review (challenger) process.
• Recommend sensitivity and stress tests and evaluate their impacts.
• Perform independent validation of pricing models in their entirety or specific pricing results, including the development of replication models where necessary.
• Identify, assess, and communicate deal risks.
• Risks include, but are not limited to, actuarial assumption risk, investment risks (credit, ALM, liquidity), operational risk, regulatory and tax risk, and expense risk.
• Evaluate proposed risk mitigation strategies and their potential effectiveness.
• Document risks for management presentations and in ERM risk memorandums.
• Advise SVP L&A Risk Officer and CRO on deal economics and risks in advance of bid decision making.
• Ensure full compliance with the company’s transaction and pricing governance standards.

What You Will Have:

• Bachelor’s or advanced degree in actuarial science, mathematics, statistics, engineering, or comparable program of study.
• A minimum of 7 years of relevant insurance experience. Insurance product pricing experience is preferred, but not required, as diverse actuarial experience is invaluable. See key skill sets below for more information on experience needs.
• Fellow of the Society of Actuaries (FSA) or comparable accreditation is preferred. Career ASAs with very strong experience will be considered. 
• Quantitative risk management experience (such as investment management or quantitative finance) with sufficient applied insurance background will also be considered.
• Effective written and verbal communication skills.  
• Candidates must be able to collaborate effectively with others and quickly disseminate information. 
• Candidates must have a strong foundation of technical knowledge pertaining to life insurance and/or annuity products and their inherent risks.
  • Understanding diverse insurance product designs, product pricing principles, and ALM is critical.
  • Experience with pricing or other applied insurance ALM modeling is important.
  • Applied experience with Bermuda and/or Solvency II accounting and capital frameworks is a plus but is not required.
  • The company will consider candidates with varied backgrounds such as risk management, valuation, modeling, or pricing.
• Candidates should be inquisitive and active learners that seek to grow their understanding in all they do.
  • The nature of this role involves evaluation of diverse, often complex or incomplete, financial information.
  • Having the ability to independently analyze and draw insightful conclusions from such situations is critical to the role. 
  • The nature of this role may also require analytical research of technical and sometimes theoretical matters, where information is lacking, and expert judgment is required.
• Candidates should have technical proficiency in actuarial calculations, analyses and models. 
  • Candidates for this role should have well-developed modeling skills with the ability to use / review work in current actuarial software platforms such as AXIS, MG ALFA, or comparable.
  • In addition, candidates should have the ability to develop solutions as needed in programming and/or database languages to perform analyses. 
  • Proficiency in one or more of the following is required: Python, VBA, SQL, C, or similar.  

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Title: Enterprise Risk & Capital Strategy Principal

Location: Remote

Position Summary

This role supports enterprise risk management, capital strategy, and strategic growth initiatives. Partners across actuarial, finance, and investments to drive data-informed decisions that balance risk, return, and regulatory requirements while supporting financial strength and growth. 

Essential Job Functions:

• Play a critical part in ensuring financial strength, optimizing capital allocation, and evaluating strategic growth opportunities.
• Partner closely with actuarial, finance, investments, and executive leadership to drive data-informed decisions that balance risk, return, and regulatory requirements.
• Influence the company’s financial resilience and growth strategy directly by ensuring appropriate risk-taking, efficient capital deployment, and disciplined evaluation of strategic opportunities.
• Play a key role in maintaining strong regulatory standing and supporting rating agency relationships.

Corporate Development & Strategy

• Evaluate strategic initiatives including Mergers & Acquisitions (M&A), reinsurance transactions, distribution partnerships, and new product/market entry.
• Build and review financial models for acquisitions, divestitures, and strategic investments.
• Perform valuation analyses (discounted cash flow [DCF], comparable companies, embedded value where applicable).
• Conduct industry and competitor analysis across life, annuity, and/or Property & Casualty (P&C) markets.
• Support due diligence and integration planning for transactions. 

Capital Modeling & Financial Planning

• Develop and maintain capital models across regulatory and economic frameworks (e.g., risk-based capital [RBC], economic capital, rating agency models such as AM Best/Standard & Poor’s [S&P]).
• Analyze capital adequacy and support capital allocation decisions across business lines.
• Perform sensitivity and scenario testing to assess impacts on surplus, earnings, and ratings.
• Partner with actuarial and finance teams on projections, reserve impacts, and asset-liability management (ALM).
• Support ORSA filings, rating agency submissions, and capital-related disclosures.

Enterprise Risk Management (ERM)

• Support the design, enhancement, and execution of the company’s ERM framework in alignment with National Association of Insurance Commissioners (NAIC) and Own Risk and Solvency Assessments (ORSA) requirements.
• Identify, assess, and monitor key risks including underwriting, market, credit, liquidity, and operational risks.
• Lead risk assessments, scenario analysis, and stress testing (e.g., interest rate shocks, catastrophe events, lapse risk).
• Prepare risk reports and dashboards for senior management and the Board.
• Collaborate with business units to develop and track risk mitigation strategies. 

Qualifications

• Bachelor’s degree in Actuarial Science, Finance, Economics, Mathematics, or related field.
• 5–10+ years of experience in insurance risk management, actuarial, corporate finance, investment banking, or strategy.
• Strong understanding of insurance fundamentals (reserving, pricing, reinsurance, ALM).
• Experience with capital frameworks such as RBC and/or economic capital models.
• Progress toward or attainment of FSA/ASA, CFA, or MBA strongly preferred.
• Advanced Excel skills; experience with modeling tools (e.g., Python, R, VBA, Prophet, AXIS, or similar) is a plus.

Key Competencies

• Strong quantitative and analytical capabilities.
• Investment Banking Experience.
• Ability to translate complex actuarial/financial concepts into business insights.

Compensation: $105,200.00 - $147,950.00 

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