Executive Director Derivatives & Hedging

Executive Director Derivatives & Hedging –
National Life Group

National Life Group, founded in 1848, is one of America’s fastest‑growing insurance companies dedicated to providing families with stability and peace of mind. NLG Capital manages over $40 billion in assets and focuses on rigorous investment results while fostering a culture of meritocracy, transparency, and performance.

The Hedging Leader at NLG Capital is responsible for designing, implementing, and overseeing the hedging framework and activity for the company’s insurance and reinsurance operations. This is a critical leadership role that sits at the intersection of investments, risk management, and actuarial strategy. The position requires deep expertise in hedging and derivative strategies, specifically index and product‑related design, combined with the ability to lead a team and collaborate across functions to ensure effective risk management, capital efficiency, and alignment with the firm’s long‑term objectives.

• Develop and implement a scalable hedging program to manage market, interest rate, and option risks across NLG’s insurance companies.
• Oversee day‑to‑day hedging operations, starting with static hedging programs and evolving toward dynamic overlays as business and asset volumes increase.
• Monitor and report on hedge effectiveness, including metrics such as value‑at‑risk, hedge P&L attribution, and capital impacts.
• Partner with investment, actuarial, and finance teams to design and execute hedging strategies for new products, M&A, and reinsurance deals—including FX hedging and in‑force risk management.
• Optimize collateral and capital efficiency associated with hedging activities.
• Build and lead a high‑performing team of 2–3 professionals responsible for hedge execution, reporting, and analytics.
• Collaborate with actuaries, distribution partners, and banking counter parties on the development and launch of new FIA and RILA products, including custom and indexed‑linked strategies.
• Work with corporate finance and actuarial valuation teams to support projections, capital planning, and stress testing.

• Proven track record of successfully designing and implementing hedging programs in insurance or reinsurance contexts.
• Broad understanding of life and annuity products, including IUL, FIA, MYGA, and RILA.
• Strong ability to communicate complex hedging strategies simply and effectively to diverse stakeholders.
• Experience balancing risk management and capital efficiency objectives.
• Strong technical proficiency, including Microsoft Office (Excel, Word, PowerPoint); experience with quantitative tools preferred.
• Self‑motivated with demonstrated excellent leadership, collaboration, and communication skills.
• Actuarial, quantitative finance, or CFA background preferred but not required.
• This position offers an onsite hybrid work schedule, with the expectation that you are in the office four days per week during onsite core days. The work schedule type and core days are subject to change with advance notification and manager discretion.

• Experience with U.S. statutory accounting, GAAP, insurance regulatory and actuarial guidelines.
• Experience managing collateral and counter party relationships.
• Prior leadership of derivatives or hedging teams in an insurance or asset management setting.

The base pay range for this position is the range National Life reasonably and in good faith expects to pay for the position, taking into account factors such as prior experience, job‑related knowledge, education, training, certificates, and current business needs. The final salary offered may be outside of this range based on other circumstances.

The total compensation package may include a full range of medical, financial, and other benefits (including 401(k) eligibility, paid time off, vacation, sick time, and parental leave), as well as eligibility for National Life’s discretionary annual incentive programs. The successful candidate may also be hired in an “at‑will” position, with National Life reserving the right to modify base salary and other compensation or benefit programs at any time.

$196,875 – $288,750 USD

National Life is accepting applications for this role on an ongoing basis and the role remains open until filled.

Visa Sponsorship: National Life does not offer visa sponsorship for this position.