Investments Operations Intern - Summer 2025

Posted:
10/21/2024, 4:23:35 AM

Location(s):
New Jersey, United States ⋅ Jersey City, New Jersey, United States

Experience Level(s):
Internship

Field(s):
Operations & Logistics

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.

Be a part of our 9-week Internship Development Program, where you will have the opportunity to apply knowledge gained through your college courses. Becoming an Investments Operations Intern is a great way to enhance your business acumen and gain insight into our industry. Interns are placed into meaningful roles that have an immediate and integral impact on the business.  The internship will be based in our Jersey City, NJ office and will run from June 2, 2025, through August 1, 2025. You must be available for all 9 weeks of the program.

The Investment Operations intern will play an essential role in providing the day-to-day operational support for the Investment Portfolio.

What You Will Do:

  • Assist with onboarding of new reinsurance deals into the Investments Operational infrastructure by creating new portfolios, ensuring portfolio mapping is in place, loading assets into system, etc.
  • Assist with onboarding of new asset managers.
  • Assist in preparing post trade compliance reports to ensure adherence to Reinsurance and Investment Manager guidelines.
  • Provide Operational support for the Alternatives portfolio including preparation of subscription documents, creating new portfolios, ensuring transaction capture in books and records, monitoring of capital calls and distributions, executing cash wires.
  • Provide operational support for the derivative asset class, including preparation of system-to-system reconciliation of trades, positions, and security master data, as well as reconciling books and records to counterparty statements to ensure margin movements are booked correctly.
  • Gain exposure to Clearwater to ensure transaction and positions are correct in the system.
  • Data Stewardship:
    • Review daily data quality checks within Datalake.
    • Identify additional automated controls needed to improve investments data quality.
    • Research breaks and resolve data issues.
    • Liaise with appropriate parties to resolve data issues.
  • Assist in development of automated reports and dashboards to facilitate the management of the investment portfolio and the sharing of information with key stakeholders.
  • Assist in the integration of data from new asset classes or managers into Fortitude’s investments data architecture.

What You Will Have:

  • Rising college senior pursuing a bachelor's degree in finance, economics, or investments. 
  • Ability to work collaboratively within a team and across departments.
  • Excellent communication and presentation skills.
  • Preferred Technical expertise with Microsoft Office projects, SQL, Python and other coding languages.
  • Ability to work collaboratively within a team and across departments.

Applicants must be authorized to work for any employer in the U.S. We are unable to consider applicants who will now or in the future require sponsorship for an employment visa.

 

What We Offer:
 
We offer our employees 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)

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