Managing Director, Derivatives & Hedging

About the role

NLG Capital, the investment management company of NLG, manages approximately $40+ billion in AUM. Our purpose is simple - to allow NLG to keep its promises. How we do this - an obsessive focus on delivering investment results. We drive results through a rigorous but collaborative investment process, and we hold ourselves to the highest of standards, both as investors and teammates. While our process is based on rigor, our culture is based on our guiding principles: Meritocracy, Uncompromising Transparency, Intellectual Honesty, Performance Driven Learning, Relentless Pursuit of Excellence. These principles serve as the foundation of our team. They govern the way we conduct ourselves, how we interact with teammates and how we approach every investment decision. We act with the integrity and humility required to make the investment decision that is right for the firm, and ultimately our policyholders. Our culture has been deliberately built to foster curiosity and provide opportunities to learn and grow, both as people and investors. The flat and collaborative nature of our team promotes an atmosphere where the best ideas are continually expressed and rewarded. Our pursuit of excellence is unwavering. Please note that we do not offer visa sponsorship for this position. 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.

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 acti

Benefits

Additional Information

Come join one of America's fastest-growing insurance companies. Since 1848, National Life Group has aimed to keep our promises, providing families with stability in good times and in bad. Throughout that history, we have provided peace of mind to those families as they plan their futures. Our mission extends beyond the insurance and annuities policies that we offer. We strive to make the world a better place through our grants from our charitable foundation, paid volunteer time for our employees, environmentally sustainable and healthy workplaces, and events that promote the work of nonprofits in our own backyard. We foster a collaborative environment with opportunities for growth and encourage our associates to live our values: Do good. Be good. Make good.

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