Managing Director, Derivatives & Hedging

Nationallifeinsurancecompany; Addison (TX); On-site; USD 243,750 - 357,500; Full time

Benefits offered by this job

Flexible benefits package

401(k) eligibility

Paid time off benefits

Job summary

Nationallifeinsurancecompany in Addison, Texas, seeks a Managing Director for Derivatives & Hedging, responsible for leading the company's hedging program across asset classes. This executive role demands strong expertise in derivatives and risk management, coupled with excellent communication skills to convey complex strategies to senior leadership, stakeholders, and regulatory bodies.

The ideal candidate will have a Master’s degree and extensive experience in the insurance or asset management sectors. The role offers a competitive salary range of $243,750 — $357,500.

Qualifications

• 15+ years of experience in derivatives and hedging, including executive leadership level.
• Proven ability to design and implement hedging programs.
• Experience in insurance, reinsurance, or asset management contexts.

Responsibilities

• Set the vision for NLG’s derivatives and hedging program.
• Develop and implement scalable hedging frameworks.
• Communicate hedge strategies to stakeholders.

Skills

Derivatives expertise

Risk management

Executive leadership

Quantitative finance

Communication skills

Education

Master's degree in quantitative finance, statistics, or related field

Job description

Role Summary

Reporting directly to the Chief Investment Officer, the Managing Director, Derivatives & Hedging is a senior executive leader responsible for the strategy, design, execution, and oversight of NLG’s enterprise-wide derivatives and hedging program across all asset classes and product types. This role sits at the intersection of investments, risk management, actuarial strategy, and product development, and serves as a key voice within the senior investment leadership team.

The Managing Director will architect and lead a scalable hedging platform that protects and enhances NLG’s financial performance, supports new product innovation, and optimizes capital and collateral efficiency. The role requires deep technical expertise in derivatives and hedging, proven executive leadership, and the ability to communicate complex strategies clearly to the CIO, executive leadership, risk committees, regulators, and rating agencies.

Key Responsibilities

Strategy & Program Leadership

• Set the enterprise vision and strategic direction for NLG’s derivatives and hedging program across all asset classes, insurance products, and reinsurance arrangements.
• Develop, implement, and continuously refine a scalable hedging framework – evolving from static hedging programs toward dynamic overlays as business and asset volumes increase.
• Proactively recommend and execute derivative strategies that enhance NLG’s financial performance and advance the firm’s broader investment and risk objectives.
• Serve as a member of the senior investment leadership team, contributing to portfolio strategy, capital allocation, and enterprise risk discussions led by the CIO.

Risk Management & Execution

• Oversee day‑to‑day hedging operations, including trade execution, monitoring, and lifecycle management across market, interest rate, equity, FX, and optionality risks.
• Design and maintain a framework that provides an informed, real‑time view on risk exposures, hedge effectiveness, and capital impacts.
• Monitor and report on hedge performance using metrics such as value‑at‑risk, hedge P&L attribution, basis risk, and statutory and GAAP capital impacts.
• Establish and enforce policies, processes, controls, and limits governing all derivatives activity.

Product & Cross‑Functional Partnership

• Partner with actuarial, product development, distribution, and banking counterparties on the design and launch of new FIA, RILA, IUL, MYGA, and other indexed‑linked or custom products.
• Collaborate with investment, actuarial, finance, and treasury teams to design and execute hedging for new products, M&A transactions, reinsurance deals, FX exposures, and in‑force risk management.
• Work with corporate finance and actuarial valuation teams to support projections, capital planning, stress testing, and ALM analysis.
• Optimize collateral posting, counterparty exposure, and capital efficiency associated with all derivatives activity.

Communication & Stakeholder Engagement

• Communicate hedging strategy, results, and risk profile clearly and accurately to the CIO, executive leadership, the Board, risk committees, regulators, and rating agencies.
• Translate complex quantitative concepts into clear, actionable insights for diverse audiences across the enterprise.
• Represent NLG Capital externally with counterparties, exchanges, and industry forums.

Team Leadership

• Build, lead, and develop a high‑performing team spanning trading, analytics, systems, and portfolio management; grow the function as the platform scales.
• Set high standards for execution, intellectual rigor, and collaboration, in keeping with NLG Capital’s guiding principles.
• Mentor and develop talent, creating a pipeline of derivatives and hedging expertise within the firm.

Minimum Qualifications

• Master’s degree (or foreign equivalent) in quantitative or mathematical finance, statistics, economics, computer science, engineering, or a related field.
• Minimum of fifteen (15) years of progressively senior experience in derivatives and hedging, including significant time at the executive leadership level.
• At least five (5) years of experience developing and executing derivative strategies that address the unique nature of insurance company assets and liabilities.
• Proven track record of successfully designing, implementing, and scaling enterprise hedging programs in insurance, reinsurance, or asset management contexts.
• Broad understanding of life and annuity products, including IUL, FIA, MYGA, and RILA, and the embedded market risks within them.
• Demonstrated experience building and leading effective hedging teams spanning trading, analytics, systems, and portfolio management.
• Demonstrated expertise applying derivatives to accomplish both investment and hedging objectives.
• Proven ability to communicate complex hedging strategies simply and effectively to senior executives, boards, regulators, and rating agencies.
• Track record of balancing risk management with capital and collateral efficiency objectives.

Preferred Qualifications

• CFA, FRM, FSA, or equivalent professional designation.
• Working knowledge of U.S. statutory accounting, GAAP, and insurance regulatory and actuarial guidelines.
• Hands‑on experience managing collateral, ISDA/CSA negotiations, and counterparty relationships.
• Prior experience leading derivatives or hedging functions at the executive level within an insurance or asset management organization.
• Experience supporting M&A, reinsurance, and new product launches from a derivatives and hedging perspective.

Benefits

• Your benefits start day one and are flexible and customizable to your and your family’s specific needs.

Please note that we do not offer visa sponsorship for this position.

Base Pay Range

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 prior experience and job‑related knowledge; education, training and certificates; current business needs; and market factors. The final salary or hourly wages offered may be outside of this range based on other reasons and individual circumstances.

Additional Compensation and Benefits

The total compensation package for this position may also include a full range of medical, financial, and/or other benefits (including 401(k) eligibility and various paid time off benefits, such as vacation, sick time, and parental leave), dependent on the position offered. The successful candidate may also be eligible to participate in National Life’s discretionary annual incentive programs, subject to the rules governing such programs. If hired, the employee will be in an “at‑will” position and National Life reserves the right to modify base salary (as well as any other discretionary payment or compensation or benefit program) at any time, including for reasons related to individual performance, company or individual department/team performance, and market factors.

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

Salary Range: $243,750 — $357,500 USD