Vice President, Operational & IT Risk Officer

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 here for more information about Fortitude Re.

The Vice President, Operational & IT Risk Officer, a member of Fortitude Re's independent Enterprise Risk Management team, is responsible for developing, implementing, and maintaining the operational risk management framework across the organization. This role ensures the identification, assessment, monitoring, and mitigation of operational risks to safeguard the company's financial strength, reputation, and regulatory compliance.

The VP will work closely with senior management, business units, and regulatory bodies to ensure a comprehensive approach to operational risk management. The candidate will support the Chief Risk Officer with the second line risk management of Fortitude Re and its affiliates. The position reports to the SVP, Enterprise Risk. The position requires strong leadership, analytical skills, and the ability to influence senior management in fostering a robust risk culture.

The position is located in the Fortitude Re Nashville, TN office on a hybrid schedule.

What You Will Do:

Operational Risk Strategy & Framework

• Develop and implement a comprehensive Operational Risk Management (ORM) framework, including on-going enhancements to align the framework with best practices, regulatory expectations and organizational change.
• Establish key risk indicators (KRIs), risk appetite thresholds, and escalation processes.
• Design and oversee operational risk policies, procedures, and controls to minimize risk exposure.

Risk Identification, Assessment, and Mitigation

• Lead the periodic Risk & Control Self-Assessment (RCSA) process and ensure proactive risk mitigation
• Conduct operational risk assessment deep dives following a risk-based approach to evaluate potential threats to business operations resulting from risk events, the results of on-going monitoring activities, KPI breaches and other indicators.
• Coordinate with business leadership and control function leaders (Audit, Compliance, IT Risk, Vendor Management, Business Continuity) to assess the Company's aggregate risk profile.
• Lead the management of the Company's risk event process, ensuring lessons learned are incorporated into risk mitigation strategies.
• Advise on special projects to evaluate and mitigate operational risk to Fortitude Re (e.g., new deal evaluation and control design, system/infrastructure changes etc.)

Governance, Reporting & Regulatory Compliance

• Provide regular operational risk reports to senior management, the Operational and Compliance Risk Committee, and the board.
• Act as a key liaison with regulators, auditors, and internal stakeholders on operational risk matters.
• Develop and maintain metrics for managing and reporting operational risk.

Leadership & Stakeholder Engagement

• Lead a team of operational risk professionals, ensuring talent development and high performance.
• Work closely with business unit heads to embed a strong risk culture and drive risk awareness initiatives.
• Champion risk training and education programs to enhance risk management capabilities across the organization

Technology & Data Risk Management

• Oversee operational risk aspects related to IT and data.
• Collaborate with IT and cybersecurity teams to strengthen risk controls in digital transformation projects.
• Implement risk analytics and technology-driven solutions for improved risk assessment and reporting.
• Lead the implementation of the Company's GRC platform, Hyperproof.

What You Will Have:
Bachelor's degree in Finance, Risk Management, Business Administration, or a related field.
10+ years of experience in operational risk management, enterprise risk, internal audit, or compliance within the insurance or financial services sector.
Strong knowledge of insurance risk management principles.
Experience with governance, risk, and compliance (GRC) tools and risk management software.
Strong understanding of operational risk methodologies.
Excellent communication and presentation skills, with the ability to engage leadership.
Analytical mindset with experience in data-driven risk analysis and reporting.
Ability to navigate complex regulatory landscapes and adapt to evolving risk trends.
Strategic thinker with problem-solving skills to proactively manage emerging risks.
Demonstrated independence and objectivity. Strong interpersonal and leadership skills to guide organizational change.
Proven leadership experience with the ability to effectively manage and develop a team.
Pro-active and forward-thinking. Takes pride in adding value to his/her organization. Holds himself/herself accountable for achieving successful outcomes.
Demonstrated success working and collaborating cross-functionally across various departments and levels of the organization.

#LI-Hybrid

The 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

$180,000-$210,000 USD

At 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 everyone-regardless of background, race, religion, sexual orientation or gender identity-feels 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.

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