At a Glance
- Tasks: Join the Capital Management team to analyse and report on economic capital.
- Company: Fortitude Re is a leader in legacy reinsurance solutions.
- Benefits: Competitive salary, annual bonus, and comprehensive benefits package.
- Other info: Minimal travel and excellent opportunities for career growth.
- Why this job: Make a real impact in financial analysis while working with a dynamic team.
- Qualifications: 5+ years in insurance, proficiency in Python, and strong analytical skills required.
The predicted salary is between 116000 - 144000 £ per year.
Fortitude Reinsurance Company Ltd. (Fortitude Re) is a leading provider of legacy reinsurance solutions.
Senior Associate, Economic Capital Modeling will be a member of the Capital Management team, reporting to the VP, Capital Management & Chief Actuary FIRL.
Main duties include:
- Capital reporting
- Stress testing
- Economic capital analysis
- Supporting regulatory filings to the Bermuda Monetary Authority
Responsibilities:
- Perform movement analysis to monitor and explain changes in the company’s capital position.
- Provide monthly estimates of regulatory capital based on market conditions and business profile changes.
- Conduct regular internal stress testing to evaluate the capital at risk against key risk factors and CISSA/GSSA scenario testing as part of the regulatory filing process to the BMA.
- Review quarterly economic reserves produced by the actuarial modeling team.
- Support the quarterly regulatory filings to the BMA as needed.
- Support the production, governance and control framework of the company’s ALM and capital model.
- Develop new functionalities and enhancements to the capital model as necessary, including improved efficiencies and changes to the regulations and onboarding of new business.
- Support new business activities by evaluating capital requirements for potential acquisitions and reinsurance blocks.
- Provide ad hoc capital analysis and financial projections to support strategic initiatives as necessary.
Minimal travel is expected (0%-10%).
Qualifications:
- Qualified Associate of the Society of Actuaries or equivalent designation.
- 5+ years of insurance experience related to pricing, valuation or risk management, with EBS or Solvency II experience required.
- Proficiency in Python, or similar programming languages (R Studio, C++).
- Experience with database applications and business intelligence tools.
- Experience with AXIS or similar actuarial projection or valuation software.
- Strong analytical skills and ability to adopt a creative approach to solving complex process problems.
- Ability to manage multiple work assignments and meet time commitments.
- Strong oral and written communication skills.
Compensation:
Base Salary Range: $145,000 — $180,000 USD. Annual bonus and benefits also offered.
Equal Opportunity Employer: 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.
Senior Associate, Economic Capital Modeling Bermuda - Capital Reporting in Hamilton employer: Socotra, Inc.
Fortitude Reinsurance Company Ltd. offers a dynamic and inclusive work environment in Bermuda, where employees are empowered to grow and innovate within the field of economic capital modeling. With a strong focus on professional development, competitive compensation, and a commitment to diversity, Fortitude Re fosters a culture that values collaboration and creativity, making it an excellent employer for those seeking meaningful and rewarding careers in the reinsurance industry.
StudySmarter Expert Advice🤫
We think this is how you could land Senior Associate, Economic Capital Modeling Bermuda - Capital Reporting in Hamilton
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We think you need these skills to ace Senior Associate, Economic Capital Modeling Bermuda - Capital Reporting in Hamilton
Some tips for your application 🫡
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How to prepare for a job interview at Socotra, Inc.
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with Socotra, Inc..
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✨Network with Industry Professionals
Before your interview, reach out to current or former Socotra, Inc. employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
