Job description
Fortitude Re is a liability-led reinsurer of legacy insurance portfolios complemented by sophisticated investment capabilities. In 2016, AIG created a “Legacy” portfolio as a separate non-core segment representing insurance reserves associated with discontinued lines of commercial Property & Casualty and Life & Annuity insurance businesses. The following year, AIG formed a Bermuda-domiciled composite reinsurer, now Fortitude Re, to house the Legacy portfolio in a separate, distinct, well-capitalized balance sheet with a dedicated management team. In 2018, the company entered into a series of L&A and P&C reinsurance transactions with AIG and received an initial capitalization of ~$3 BN. The transactions represented ~$37 BN of reserves supported by ~$40 BN of invested assets. During this time, AIG also entered into a long-term partnership with The Carlyle Group, with Carlyle acquiring 19.9 % ownership. Then in 2019, The Carlyle Group and T&D announced acquisition of majority interest in Fortitude Re from AIG. This allowed for a new long-term shareholder base for the company while maintaining a strong capital position for supporting reinsurance obligations. Click here for more information about Fortitude Re.Essential Functions:
1. Research and identify root cause for out of balance and aging of suspense items. Process transactions/journal entries to correct the accounting.
2. Provide explanation and documentation for Internal External and Third party audit requests and inquiries on accounting issues/aging.
3. Assist with system testing for IT corrections and enhancements, as needed.
4. Help with clearing suspense on premium refunds.
5. Calculate age adjustments for Claims
6. Handle callbacks, emails and letter inquiries.
7. Assist with special project and other department functions as needed.
Requirements:
1. Experience in the insurance industry preferred
2. Knowledge of SAP and accounting functions preferred
3. Strong analytical and critical thinking skills are needed.
4. Ability to identify system and procedural problems and create IT tickets.
5. Good oral and written communication and excellent customer service skills.
6. Will have frequent contact with customers and other departments answering detailed questions either verbally or through written communication
7. Strong computer skills including Word and Excel are required. Experience with AGNIS/VFlex and AWD a plus.
8. Requires the ability to handle calculations based on policy provisions
9. Ability to use sound judgment and make decisions requiring good understanding of company practices, policy language, procedures and state regulations
10. Ability to work independently and in a team environment
11. Must be able to work overtime as needed
What We Offer:
- Up to 24 days of PTO
- Up to 11 paid company holidays
- Up to 16 hours per year of paid volunteer time
- Competitive 401(k) plan
- Paid parental leave
- Health, vision, dental, and life insurance with additional access to health and wellness programs
- Flexible working environment
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.
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