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SVP, Investment Business Management

fortitudegroupholdingsllc · Jersey City · Jersey City, New Jersey, United States
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<div class="content-intro"><p>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 <a href="https://fortitude-re.com/" target="_self">here</a> for more information about Fortitude Re.</p></div><p>The <strong>Senior Vice President, Investment Business Management </strong>is responsible for designing and delivering the process and control improvements required to produce investment data and reporting the enterprise trusts. The role evaluates investment operations and accounting processes end to end, identifies the root causes of recurring data and reporting issues, and leads the design of the process, control, and system changes that prevent them from recurring. The role also oversees project management for those improvements, allocates resources across teams to deliver them, and facilitates and drafts the cross functional operating model between Investment Accounting and Investment Operations, for ratification by the Chief Investment Officer and the Chief Financial Officer. The role also defines the cross functional performance measures for investment data and reporting and owns the system used to produce them.</p> <p>This role owns cross functional process and control design; operational execution and accounting accountability remain with Investment Operations and Investment Accounting respectively. This is a hands-on leadership role. The successful candidate will work directly in the detail with the operations and accounting teams to solve problems and implement improvements, reducing the workload on those teams rather than adding to it, and will communicate progress and risks to executive management.</p> <p><strong>What You Will Do:</strong></p> <p>·       Evaluate investment operations and accounting processes end to end, identify enhancements, and lead the design of the improvements needed to raise data quality and eliminate misreported net investment income and unclosed OPR and suspense items.</p> <p>·       Own root cause analysis of recurring breaks, working hands on in the data and the process with the teams that run it, and translate findings into process, control, and system changes that prevent recurrence, working through the function that owns execution rather than performing it.</p> <p>·       Lead the design and implementation of the control environment over investment data and reporting, including control definition, evidence standards, and testing approach.</p> <p>·       Define the cross functional key performance indicators that measure success across the functions supporting investment data and reporting, covering accuracy, timeliness, break volumes and aging, manual effort, and control effectiveness. Each function continues to define and track its own internal operational metrics.</p> <p>·       Own the measurement and reporting system behind those indicators, and produce the cross functional reporting on investment data and reporting quality to executive management. Operational status reporting on each function remains with that function's leader.</p> <p>·       Oversee project management for related improvements, sequencing and prioritizing the work so that each effort delivers usable value to business users incrementally.</p> <p>·       Allocate resources across teams to ensure that key projects and programs are completed successfully.</p> <p>·       Facilitate and draft the cross functional operating model between Investment Accounting and Investment Operations, including activity ownership, handoff acceptance criteria, and escalation paths. Investment Operations and Investment Accounting contribute as subject matter authorities for their functions, and the Chief Investment Officer and Chief Financial Officer ratify the model.</p> <p>·       Lead onboarding of new investment operations and accounting software platforms, the system and process change, and partner with the data and technology teams to translate process requirements into platform capability that retires manual work.</p> <p>·       Define and maintain process documentation and standard operating procedure standards across both functions, to a single standard.</p> <p>·       Establish the continuous improvement discipline, includ

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