VP, Derivatives Accounting

Fortitude Reinsurance Company Ltd. (Fortitude Re) is one of the worlds leading providers of legacy reinsurance solutions. They work with the worlds 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 Res roots in the insurance industry and the experience of their leadership go back many decades. Fortitude Res 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.Fortitude Re is establishing a Center of Excellence (CoE) for derivative accounting expertise, governance, and reporting. This CoE will own accounting and reporting across GAAP, STAT, Bermuda SFS, and EBS, ensuring accuracy, regulatory compliance, and transparency. The Vice President of Derivatives Accounting will ensure all derivative transactions are processed completely, accurately, and on time, while holding Clearwater accountable for current operations and driving future automation and AI adoption. The role will also translate complex derivative activity into clear insights for senior leadership, regulators, and auditors, connecting results by legal entity, accounting basis, and reinsurance deal. The role reports to the SVP, Investment Accounting Controller.  What You Will Do:Lead Fortitude Res Derivatives Accounting & Reporting Center of Excellence (CoE), serving as the enterprise hub for expertise, governance, and reporting.Own end-to-end derivative accounting and reporting across GAAP, STAT, Bermuda SFS, and EBS.Ensure all derivative transactions are processed completely, accurately, and on time, holding teams and vendors accountable.Oversee Clearwater processing, ensuring data quality, reconciliations, and mapping to SAP are correct.Hold Clearwater and other vendors accountable for service-level performance and escalate issues when SLAs are not met.Drive future-state automation and AI adoption to streamline reconciliations, exception management, and reporting.Direct daily and monthly derivative reconciliations across Clearwater, custodians, counterparties, and the general ledger.Oversee valuation governance, including price validations, vendor comparisons, stale price monitoring, and override approvals.Lead preparation of derivative disclosures for GAAP/STAT financial statements, NAIC schedules, and Bermuda filings.Ensure derivative results are reported by legal entity, accounting basis, and reinsurance deal, linking outcomes to treaty economics.Investigate and resolve valuation and income variances, ensuring transparency and appropriate documentation.Provide insightful performance analysis and narratives to the CFO, CIO, and senior leadership.Coordinate with Risk, Treasury, and Front Office Investments to ensure data integrity and alignment with ALM strategies.Partner with the Actuarial function to ensure derivative results flow accurately into reserves and capital reporting.Maintain SOX and internal control compliance for all derivative accounting and reporting processes.Present results, assumptions, and governance matters to senior committees, auditors, and regulators.Lead derivative-related audit responses and ensure documentation is complete, accurate, and timely.Manage and mentor a team of resources to ensure high-quality execution.Champion a culture of process improvement, accountability, and cross-functional collaboration.Serve as Fortitude Res senior voice on derivative accounting in discussions with regulators, rating agencies, and external auditors.What You Will Have:Bachelors degree in Accounting, Finance, or related field (CPA strongly preferred).12+ years of accounting experience with a focus on derivatives and capital markets.Deep knowledge of multi-basis accounting and reporting (GAAP, STAT, Bermuda SFS, EBS).Demonstrated ability to ensure complete, accurate, and timely processing of complex derivative portfolios.Experience leading Clearwater Analytics operations.Strong technical expertise in valuation governance, including price validation, vendor comparisons, overrides, and stale price monitoring.Proven ability to manage cross-functional collaboration with Investments, Risk, Treasury, Actuarial, and Finance.Demonstrated leadership in SOX/internal controls design and compliance for derivatives accounting.Strong communication skills with experience presenting to executives, committees, auditors, regulators, and rating agencies.Track record of leading transformation initiatives, including automation, AI adoption, and process redesign.Experience building, leading, and mentoring high-performing teams.Strong analytical, problem-solving, and organizational skills with attention to detail.Ability to connect results across legal entities, accounting bases, and reinsurance deals to treaty economics and capital optimization.Preferred (optional): Public accounting background or Big 4 experience with insurance/reinsurance clients.#LI-HybridThe 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$175,000—$230,000 USDAt 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 everyoneregardless of background, race, religion, sexual orientation or gender identityfeels 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.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.