AVP, ALM General Account

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Job Purpose

The Assistant Vice President of ALM-General Account, will oversee the team responsible for managing the General Account Asset Liability Management. The key deliverables include strategic/tactical asset allocation design for new investments and duration management of various portfolios within Jackson in order to maximize risk-adjusted profitability. The AVP will also oversee ALM's responsibilities related to periodic asset rebalancing of the in-force portfolios to enhance capital efficiency. Additionally, the AVP will be responsible for annual updates to the investment policies and actuarial asset related assumptions.

Essential Responsibilities

• Designs and implements the medium-term Strategic Asset Allocation (SAA) and short-term Tactical Asset Allocation (TAA) of various portfolios to maximize risk-adjusted profitability. The key objective is to work closely with the asset manager (PPM America) and Actuarial department to support investment decisions that are suitable for the respective liability profiles.
• Designs asset-liability duration and cash-flow matching frameworks that keep interest rate risk and liquidity risks within appetite. Conceptualizes and manages any derivative-based hedging overlay to the fixed income asset-based duration management.
• Develops solutions for periodic asset rebalancing within and between portfolios to generate capital efficient outcomes for Jackson that balance solvency, profitability, market risks, accounting impacts and liquidity.
• As new General Account asset-liability management related workstreams are added, work closely with stakeholders in other departments and senior management to obtain buy-in on key proposals.
• Designs and reports monthly profit/loss attribution for products like FIA, RILA and MYGA that show insightful break-down into asset and liability based drivers.
• Supports the quarterly business plan process with asset allocation related inputs and insights.
• Recognizes emerging issues and develops strategies to mitigate future risks and capitalizes on future opportunities.
• Develops and coordinates plans and strategies to implement new enhancements that are designed to improve processes and increase accuracy and efficiency.
• Ensures modeling, reporting practices, processes and controls are best practice and appropriate for risk, audit and/or regulatory scrutiny.
• Educates key stakeholders as needed on the details of Jackson's ALM activities including asset allocation, duration management and the hedging program.
• Participates in the development of corporate financial strategies/analysis.
• Participates in cross-departmental activities to ensure proper use and interpretation of the units’ results/output.
• Directs staff and is accountable for personnel actions including hiring, performance, salary reviews, corrective action and terminations.
• Provides leadership and strategic direction and ensures the ALM department meets and exceeds standards.

Other Duties

• Participates in industry research/committee work to promote professional development and, where possible, provide value to the company.
• Performs other duties and/or projects as assigned.

Knowledge, Skills and Abilities

• Strong financial knowledge and understanding of the economics and business drivers in the insurance/financial services industry.
• Demonstrated sound knowledge of US retirement products, financial risk exposures, ALM techniques and derivatives.
• Comprehensive understanding of product design and the key drivers that impact Jackson’s liabilities.
• Sound understanding of risk-reward characteristic of various fixed income asset classes suitable for Jackson’s insurance products.
• Sound knowledge and technical skills in the design, operation and testing of financial models.
• Advanced project management, problem solving and analytical skills.
• Excellent oral, written and presentation skills especially when articulating complex technical concepts and proposals for senior management decision making.
• Highly detail-oriented, with strong organization and multi-tasking skills.
• Demonstrated sound understanding of risk management principles, processes and practice.
• Demonstrated ability to develop and implement process enhancements including technology and performance.
• Strong leadership capabilities applied within team settings and with individual contributors.
• Strategic perspective which sees the big picture and broader implications of actions and decisions.
• Ability to build effective relationships