Senior Associate, Mortgage Loan Accounting
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Job Description
Senior Associate managing mortgage loan accounting at Fortitude Re. Analyzing investment data and supporting financial reporting for the reinsurance sector.
Responsibilities:
- Support the accounting close process, including preparation of journal entries and corresponding balance sheet reconciliations for both GAAP and STAT bases of accounting.
- Perform detailed analytical review of investment income, yields, fair value changes, and realized/unrealized gains and losses.
- Support quarterly and annual statutory and GAAP investment disclosures and footnotes.
- Assist in implementation and onboarding of new investment portfolios related to block acquisitions.
- Support regulatory filings and ad hoc requests related to Bermuda Monetary Authority (BMA) requirements.
- Execution of internal control procedures over a diverse asset class mix including fixed income and equities, commercial mortgage loans, private equity, hedge funds, and real estate.
- Provide detailed investments data for Economic Balance Sheet calculations and Bermuda reporting.
- Work with Fortitude Re’s investment accounting platform to ensure completeness and accuracy.
- Monitor, research, and resolve issues related to investment suspense account balances.
- Ensure compliance with SOX and internal control frameworks, including documentation and walkthrough support.
- Identify control gaps and recommend enhancements to mitigate operational and financial reporting risk.
- Perform variance analysis and investigative procedures on investment balances and income trends.
- Liaise with internal and external audit teams in order to provide requested information and appropriate evidence of the operation of internal controls.
- Lead the private equity operations process, which includes extraction of relevant financial data from fund capital account statements, completion of system upload templates and related internal control procedures.
- Drive continuous improvement initiatives within the investment close cycle.
- Participate in system enhancements, UAT testing, and automation implementation initiatives.
- Develop and maintain desktop procedures and process documentation.
- Leverage AI-enabled tools and advanced analytics to improve efficiency, accuracy, and scalability of securities accounting processes, including reconciliations, variance analysis, close activities, and reporting.
- Foster a culture of accountability, quality, and continuous improvement aligned with Fortitude Re’s core values.
Requirements:
- Bachelor’s or Graduate degree in Accounting or Finance; CPA preferred.
- Minimum of 5 years of relevant experience in the reinsurance industry or financial services.
- Experience managing large volumes of data, with strong general ledger and/or analysis tool systems background.
- Strong understanding of GAAP and STAT investment accounting principles.
- Knowledge of fair value hierarchy, effective yield methodology, and alternative investment accounting.
- Familiarity with reinsurance structures and investment implications preferred.
- Experience with PowerQuery, Alteryx, Tableau or similar products desired.
- Experience using Clearwater investment accounting platform desired.
- Excellent communication, presentation, and interpersonal skills.
- Proven ability to manage multiple deliverables and meet deadlines.
- Proficient in Microsoft Office products, with strong proficient in Microsoft Excel.
Benefits:
- 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.
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