SVP, Insurance & Group Controller

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.

The SVP, Insurance & Group Controller is responsible for leading the financial, corporate and insurance accounting operations across multiple entities or business units within the organization. This strategic leadership role ensures the accuracy, integrity, and timeliness of financial reporting while ensuring compliance, and driving operational efficiencies. Reporting directly to the Chief Accounting Officer, the SVP, Insurance & Group Controller will oversee a team of finance professionals, including controllers and accountants, fostering a culture of excellence and continuous improvement.

The SVP, Insurance & Group Controller influences others across the organization regarding policies, practices, and procedures and communicates with key external stakeholders. This role is instrumental in strengthening the organization’s financial management system, ensuring accurate financial reporting, and driving process efficiencies through ownership of financial systems, general ledger management, reinsurance accounting, accounts payable, expense accounting and overall corporate accounting operational processes.

This role will be aligned to our Jersey City, NJ office on a hybrid basis.

What You Will Do:

Leadership:

• Build and lead a high-performing team of accounting professionals and managers, providing mentorship and guidance to develop skills aligned with team priorities.
• Manage team priorities and workloads to ensure that work is well-balanced across the department without key person dependencies.
• Model excellent leadership behaviors.
• Cultivate a culture of continuous learning, identify and facilitate training, coach and develop the team to enhance capabilities and enable career growth.
• Foster a continuous improvement / growth mindset culture across the team. Develop after action plans with strong execution on clear concrete remediation plans to evolve the operating environment.
• Work with Data & Analytics to automate data feeds, journal entries, reconciliations and reporting / analytics.

Close Process Management, Automation & Analysis

• Partnering with Finance Operations, oversee quarter-end, and year-end financial close processes, ensuring timely and accurate financial reporting.
• Drive automation and process improvements including streamlining our overall close process across all accounting bases to 20 business days.
• Develop and execute strategies within the next ~3 years to increase our close process automation and leverage of offshore resources to less than 25% of our current process capabilities.
• Partnering with New Transactions Integration team, develop and execute plans to implement GAAP, NAIC, SFS & EBS accounting changes (e.g., LDTI, CECL) effectively.
• Provide financial analysis of uncorrected errors and out of period adjustments. Based upon the severity may present key insights and findings to the Disclosure Committee, Executive Team, Audit Committee, and Board of…