Senior Associate, Hedging

THE COMPANY

For 175 years, National Life Group (“NLG”) has aimed to keep their promises to provide families stability in good times and in bad. And throughout that history, they have provided peace of mind to those families as they plan their futures.

As a mission-driven business, the cause of what they do is as important as the products they sell. And their cause is a very simple one, directed at the people who live and work on America’s Main Streets: “To Do good in our communities and with the individual families we serve.”

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.

THE POSITION

Position Title     Senior Associate, Hedging

Position Summary and Responsibilities

As a member of the Hedging team, the Senior Hedging Associate is a key member in the implementation, analysis, and oversight of NLG Cap’s hedging program. This individual assists in quantifying our exposures, communicating hedging results, and driving analytical projects aimed at optimizing our hedging strategy. They are involved in designing, advocating for, and implementing models that draw from the quantitative finance and derivative pricing disciplines.

• Contributing toward development, monitoring, and execution of NLG’s hedging strategy across all asset classes and product types.
• Key member of team responsible for the production for our daily/weekly/monthly hedging processes.
• Design, implement, and maintain tools used to support the monitoring of daily hedge sensitivities.
• Take a lead role in hedging related analytical projects and initiatives.
• Identify opportunities to create additional value in our hedging program by conducting pertinent analysis and designing tools purpose-built to solve hedging problems.
• Partner with internal stakeholders across NLG to frame problems and build solutions that consider a range of consideration and help to drive value creation.
• Communicate hedge effectiveness and portfolio sensitivities to internal stakeholders.
• Build and maintain system for producing daily hedging performance attribution reporting.
• Build Tableau dashboards for automated communication of hedging results and analysis.
• Identify areas of irregularity and mismatch within the hedging portfolio; investigate, identify roots causes, and recommend mitigation solutions.
• Partner with the NLG Capital trading team to facilitate the trade execution process; ensure that trades are properly specified, and instruments are accurately reflected in our hedging system.
• Conduct business analysis for proprietary hedging system; partner with internal teams to ensure that hedging needs are understood.
• Perform research on potential hedging strategies using various modeling techniques (e.g. historical back testing).

THE PERSON

Pivotal Experience and Expertise

• 4+ years of experience in a hedging, market risk, quantitative analytics, or a related field, preferably with direct experience developing and executing derivative strategies that address the unique nature of the assets and liabilities of an insurance company
• Proficiency in Excel/VBA, SQL, Python, Tableau, and Bloomberg
• An in-depth knowledge of capital markets, derivatives modeling, and valuation techniques
• Required: Bachelor’s degree in finance, mathematics, economics, computer science, or a related quantitative field
• Preferred: Master’s degree (or foreign equivalent) in quantitative / mathematical finance, statistics, economics, computer science, engineering, or a related field
• Experience with CDS or TRS