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AVP, Internal Audit - Bermuda

Negotiable
Full-time
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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 $55 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 Assistant Vice President (AVP), Internal Audit provides independent and objective assurance, advice, and insight guided by a philosophy of adding value to improve the operations of Fortitude Re. The AVP, Internal Audit assists Fortitude Re in accomplishing its objectives by bringing a systematic and disciplined approach to evaluate and improve the effectiveness of Fortitude Re’s control environment including risk management, operational, financial, internal control, and governance processes. This role will report directly to the SVP, Head of Internal Audit and collaborate with Fortitude Re stakeholders, counterparties, external auditors, and third-party service providers.  This role will be based in our Bermuda office. 

What You Will Do:

  • Support the development of a portfolio of audits to ensure that audit projects and stakeholders focus on key risks and controls.
  • Execution of all phases of the audit including scoping, audit planning, fieldwork and testing, discussion and documentation of findings, and report writing.
  • Evaluate the adequacy and effectiveness of the Company’s internal controls using a risk-based methodology developed from professional auditing standards.
  • Partner with the business to identify and analyze the inherent risks and the controls that management has implemented to mitigate their risks.
  • Clearly and concisely communicate audit results or other key messages to a variety of constituents and advise on emerging industry or regulatory topics/issues that may impact audit coverage.
  • On-going communication with business line management to follow-up on previously identified audit issues and execution of testing to verify closure.
  • Supporting the team in continuously updating risk assessments, through periodic meetings with management, ad-hoc walkthroughs, monitoring of key business metrics and data analytics.
  • Contribute to the overall effectiveness and value of internal audit by recommending and developing innovative approaches and solutions (e.g. the use of data analytics, automation, and agile audit methodologies).
  • Interact with regulators for regulatory examinations, status updates and other queries, as needed.
  • Maintain internal audit competency through ongoing professional development.
  • Maintain understanding of current and emerging risks.
  • Provide guidance and coaching to audit team members including review of their work.
  • Managing co-sourcing resources.
  • Some travel may be required.

What You Will Have:

  • 7+ years of relevant internal or external audit experience.
  • Undergraduate or graduate degree in finance, economics, risk management, accounting, or other business-related fields.
  • A certified professional designation (e.g., CPA, CIA, CISA, CRISC, CISSP) is required.
  • Strong understanding of IIA Standards of Professional Practice.
  • Strong understanding of life and annuity and general insurance products and reinsurance.
  • Broad exposure/experience to audit, risk management, operations, finance, and compliance activities is preferred.
  • Familiarity with applicable industry laws and regulations.
  • Experience with auditing leveraging the use of data analysis tools is a plus.
  • Experience in testing SOX/MAR controls and working knowledge of the COSO 2013 framework is advantageous.
  • Experience developing and maintaining effective working relationships with senior management.
  • Excellent project management, organizational and presentation skills.
  • Excellent communication (verbal, written, and listening) and interpersonal skills, including strong writing skills, particularly as related to audit reports and management presentations.
  • Ability to effectively integrate business, operational, compliance, technological, and financial components into audit work performed.
  • Ability to objectively identify problems and recommend solutions to complex control, financial, or technical issues.
  • Strategic thinker who possesses and promotes a culture of intellectual curiosity.
  • Ability to create efficiencies during the execution of audit related work.
  • Able to work independently on multiple assignments while effectively supporting teamwork and achievement of team objectives.

What We Offer:
 
We offer competitive benefits in a fast-paced, dynamic and nimble culture including:

  • Unlimited PTO policy
  • Up to 12 paid company holidays
  • Up to 16 hours per year of paid volunteer time 
  • Competitive 401(k) plan - US Employees Only
  • Paid parental leave
  • Learning and Development Stipend
  • Mental Health and Wellbeing support
  • Health, vision, dental, and life insurance with additional access to health and wellness programs
  • Flexible working environment
  • Actuarial Exam Support through our Actuarial Development Program (ADP) for Actuarial employees
  • Actuarial Program Rotation for ADP employees
  • For all Actuarial Life AVP and above roles not based out of our Nashville, TN office: 30% travel is required to our Nashville, TN office

At Fortitude Re, we believe that diversity and inclusion are critical to our future and our mission- creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives. 

 

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.

Check us out on YouTube:  About Fortitude Re (youtube.com)

By submitting your application, you agree that Fortitude Re may collect your personal data for recruiting purposes. 

 

Last updated on May 23, 2024

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