SVP, Market Risk Officer

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 SVP, Market Risk Officer is a senior leadership role reporting directly to the Chief Risk Officer (CRO). This position is responsible for overseeing market, liquidity, and portfolio risk across the Group, ensuring alignment with the organization's risk appetite, business objectives, and regulatory requirements. The SVP will also oversee the risk management responsibilities for our Variable Annuity business in Fortitude Life Insurance & Annuity Company (“FLIAC”) with full accountability for its risk management framework and oversight.

This role requires strategic leadership, technical expertise, and collaboration with cross-functional teams to ensure comprehensive risk management practices across the Group. The successful candidate will also be responsible for building and managing a high-performing team to execute the market risk management strategy.  This role will be based in our Jersey City, NJ office on a hybrid basis. 

What You Will Do:

Leadership, Strategy and Governance - 

• Develop and implement an enterprise-wide market risk management framework, policies, and procedures, in alignment with the company’s overall risk appetite, financial risk framework, and regulatory requirements.


• Oversee risk identification, measurement and mitigation strategies related to market risks; advise the design of, and oversee hedging and other risk mitigation strategies to appropriately manage market and liquidity risks.


• Provide risk input, constraints, and advisory to asset allocation decisions, portfolio construction, and liquidity planning in partnership with the Investments and Treasury teams.


• Collaborate with Investments, Actuarial, Finance, Capital Management, and Treasury teams on advancing to enhance frameworks and analytics for market and portfolio risk management to support best-in-class asset liability management (ALM) practices for both new businesses and inforce management.


• Conduct advanced analytics, including scenario analysis, stress testing, and sensitivity analysis to identify and evaluate potential vulnerabilities and support strategic decision-making.


• Oversee the development and refinement of risk models to measure and monitor market and liquidity risks effectively.


• Ensure compliance with regulatory standards related to market and liquidity risk management, including BMA, NAIC and other relevant frameworks; stay informed on evolving regulations and standards that may impact management of market and liquidity risks.


• Present actionable insights and risk analyses, emerging risks, and mitigation strategies to senior management and Board committees to facilitate informed decision-making.


• Proactively identify opportunities to enhance risk management processes and tools.


• Recruit, build, and lead a high-performing team of market and investment risk professionals.


• Foster a collaborative, inclusive and innovative team culture focused on achieving organizational goals and continuous learning.

Collaboration and Governance - 

• Oversee the identification, assessment, and management of the market risk within the company's investment and insurance portfolios.


• Partner with Investments, Actuarial and Pricing on reviewing new investment and insurance products, transactions, and strategies as related to market risk and asset-liability risk management; provide independent risk oversight.


• Partner with Investments, Actuarial, Finance, Capital Management, and Treasury to develop and enhance market and portfolio risk analytics, including but not limited to market risk monitoring, relative value and risk-adjusted profitability analysis, early warning indicators, stress testing, and economic capital.


• Partner with Investments, Actuarial, Finance, Capital Management, and Treasury to ensure robust ALM strategies, processes, and reporting


• Develop and implement market risk policies and procedures to safeguard the company's financial interests. Ensure appropriate governance and controls for market risk oversight, including risk limits, escalation protocols, and risk-adjusted performance measures.

Risk Reporting - 

• Direct the development and enhancement of risk models to assess market risk exposures and ensure effective monitoring.


• Provide analytics driven insights into risk exposures to support decision-making processes.


• Oversee the monitoring of market risk limits and review exceptions and remediation plans.


• Provide regular market risk reporting to management and board risk committees, highlighting key risk exposures, trends, and emerging risks and potential threats.


• Lead efforts in market risk-related regulatory reporting and liaise with regulators as required.

What You Will Have:

• A Master’s degree in Finance, Risk Management, Economics, or a relevant STEM field.


• At least 15 years in financial and market risk management within financial services, with at least 5 years in a leadership role within insurance, reinsurance, banking, or asset management.


• Proven leadership experience in managing and developing high-performing teams.


• Strong understanding of financial markets, investments and credit underwriting, trading activities, and risk modeling techniques.


• In-depth knowledge of regulatory requirements related to investments risk management.


• Excellent analytical and quantitative skills, and in-depth asset class knowledge around structured products and private credit.


• Experience with credit risk modeling, stress testing, and scenario analysis.


• In-depth knowledge of regulatory requirements related to investment and credit risks.


• Strategic thinker with the ability to translate strategy into actionable plans.


• Strong communication and interpersonal skills, with the ability to effectively engage with senior management, board and external stakeholders.


• Results-oriented and able to drive initiatives to completion.


• Adaptable and able to thrive in a dynamic and fast-paced environment.

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: $260,000 USD - $290,000 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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