SVP, New Transactions Finance Integration

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 here for more information about Fortitude Re.

The Senior Vice President of New Transactions Finance Integration is responsible for leading and managing all financial integration efforts associated with significant committed transactions and/or regulatory changes. Working with key stakeholders such as third party investors, regulators, internal and external auditors, internal actuarial, tax and investment teams, this leadership role will drive the strategy development, evolution and execution for our financial reporting, accounting policy, internal controls and financial management processes to accommodate new transactions ensuring the expected objectives of new transactions are met, strong internal controls over financial reporting, financial systems, close process efficiencies and regulatory compliance are maintained. 

New transactions include, but are not limited to, new legal entity acquisitions or formations, mergers, new reinsurance transactions, new complex investment structures, debt issuance, and significant changes in accounting or regulatory requirements. Some examples of recent new transactions that would be managed by this team include, integrating new reinsurance transactions, forming “sidecars”, new investment portfolios or asset classes, securitization transactions, special purpose investment entity consolidations, new accounting requirements (e.g., CECL, LDTI), or new regulatory requirements (e.g., Pillar 2 international tax law or NAIC Bond Project changes). 

This role will oversee the seamless integration of financial systems, controls, processes, and teams, ensuring the transition is smooth, efficient, and aligned with strategic business objectives. The SVP will work closely with senior leadership, business unit heads, and external advisors to manage integration planning, and post-transaction financial activities. This position will report directly to the MD, Chief Accounting Officer. This role will be based in our Jersey City, NJ office on a hybrid basis. 

What You Will Do:

• Strategic Leadership: Develop and implement comprehensive integration strategies for financial reporting, planning and related systems, internal controls and processes, ensuring alignment with organizational goals and regulatory requirements specific to the reinsurance industry.


• Develop a Standard Process of Onboarding New Transactions: Develop a consistent way of onboarding various types of transactions to accelerate delivery with high quality standards.


• Fully integrate new transactions into the standard processes within Finance:  Develop standard processes that can be used by the Controllers, Financial Reporting and Financial Planning & Analysis groups to ensure that new transactions are properly reflected in our financial outcomes including but not limited to:
  
  
  
  • Identifying data sources for new transactions and ensuring we properly ingest this data into our financial systems, financial reporting and accounting infrastructure
  
  
  • Develop workpapers with documented standard operating procedures for Controllers to properly book transactions (and ongoing impacts) for every financial close into our various financial systems
  
  
  • In partnership with Accounting Policy, evaluate and develop recommendations between alternative policy choices that promote greater efficiency and accuracy in Financial Reporting processes and broader financial (e.g., capital) management efficiency
  
  
  • Ensure that transactions have a completed accounting policy memo; ensure that accounting policy memos are complete and comprehensive in addressing appropriate financial statement classification, presentation, cashflows and footnote disclosures for multiple accounting basis (GAAP, NAIC STAT, BMA EBS and Management/Non-GAAP).
  
  
  • Maintain and update the overall, end to end (from due diligence completion through closing, on-boarding and full integration) risk and control matrices and processes for the “end-to-end” transaction integration process.
  
  
  • Prepare General Ledger change requirements documentation, communicate these requirements to IT/Finance Transformation and perform the required business acceptance testing for these changes
  
  
  • Financial planning processes (including rolling estimates, forecasts and budgets) are updated to reflect the new transaction and ongoing impacts
  
  
  • Train those that will have ongoing responsibilities
  
  
  • Develop Finance communications to ensure that all understand the impacts of the transactions
  
  
  • Work with internal and external auditors and our risk management team to ensure that ongoing monitoring and testing is seamless
  
  
  • Work with the Financial Reporting group to ensure that financial statements have all appropriate disclosures at transaction inception and any ongoing impacts
  
  
  • Prepare impact analysis and reports of new transactions as required (e.g., pro-forma impacts of new transactions used in debt offering memorandum)
  
  
  • Work with Data & Analytics and Finance Operations to incorporate new transactions into data & process automation efforts
  
  
  
  


• Cross-Functional Collaboration: Lead and collaborate with cross-functional teams to ensure that new transactions are effectively onboarded into the finance ecosystem.  This includes leading our newly formed Complex Investment & Derivatives integration team. This also includes ensuring how accounting policy elections (e.g., Fair Value Option) and/or new product reserve valuation requirements (e.g., LDTI, “Additional Insurance Liabilities” or SOP03-1 reserves) are appropriately supported by operational and actuarial process changes, including valuation model outputs.  Ensure finance processes are updated to receive and accurately report this information from the actuarial and operations team.


• Project Management: Oversee the management of large-scale integration efforts projects, ensuring timely delivery and adherence to budget. 


• Develop (or Source) Finance Assumptions to be Used in New Transactions: Provide cost impact estimates to corporate development and investment management teams to inform executive leadership of the cost to acquire, integrate or invest in emerging opportunities.


• Team Development: Build and mentor high-performing finance teams, fostering a culture of collaboration, innovation, continuous improvement, and agility in integration and process improvement practices.  Build a team of specialists that will have multi-faceted disciplines and expertise in reinsurance, investment structures and process integration. Team members will be a combination of direct reports and subject matter experts in adjacent organizations.


• Stakeholder Communication, Change Management, and Education: Serve as a key liaison between finance and other departments, effectively communicating new transaction finance integration requirements, accounting policy implications, progress, challenges, and outcomes to senior leadership and stakeholders. Develop clear communications for the finance organization to ensure appropriate change management, compliance and education.


• Performance Analysis: Monitor integration initiatives, analyze outcomes, and provide strategic recommendations for optimizing financial operations and technology solutions tailored to the reinsurance industry landscape. Develop and monitor KPIs to track the progress of financial integration efforts.


• Industry Insights: Stay current with trends and advancements in investment structures and reinsurance technology and finance, leveraging insights to drive innovative integration strategies that enhance competitive advantage.


• Continuous Improvement: Develop best practices and lessons learned from prior integrations and transactions and apply them to current integration efforts. Propose improvements to integration methodologies and processes for future transactions. 

What You Will Have:

• Bachelor’s degree in Finance, Accounting, Business Administration, or a related field; Master’s degree or professional certification (e.g., CPA) preferred.


• 15+ years of executive leadership experience in finance within the insurance or reinsurance industry, with a proven track record of managing large-scale integration projects.


• In-depth knowledge of investment structures, reinsurance financial principles, practices, and regulatory frameworks.


• Extensive experience with financial software (e.g., General Ledger, Enterprise Resource Planning systems, reinsurance accounting platforms) and data integration tools.


• Effective leadership skills, with the ability to lead, motivate and develop high performing teams. 


• Excellent influencing abilities to engage multiple teams towards achieving collective goals.


• Strong communication and interpersonal skills, with the ability to build relationships and collaborate effectively across all levels of the organization.


• Exceptional analytical and strategic thinking skills, with a demonstrated ability to drive results and influence senior leadership.


• Strong change leadership with ability to help teams navigate evolving business conditions.


• Growth mindset with a commitment to continuous improvement and innovation.


• Proven project management capabilities, with a history of successfully managing multiple priorities and delivering results in a dynamic environment.


• “Roll-up your sleeves” mentality


• Excellent organizational and problem-solving skills

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: $250,000 USD - $300,000 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.

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