Compensation Business Partner-Asset Management

Role Summary

Shape the future of investment compensation at National Life Group.

Essential Duties and Responsibilities

• Incentive Compensation Program Management
• Own end-to-end governance and administration of the carried interest plan, including eligibility, allocation modeling, vesting, distributions, clawbacks, documentation, and participant communications.
• Partner with Finance, Legal, Tax, Payroll, and external administrators to ensure all allocations and payouts are accurate, compliant, and audit-ready.
• Maintain and update plan documents, award agreements, and governance materials to reflect evolving business and regulatory requirements.
• Establish and maintain strong internal controls, documentation standards, and risk management practices across all incentive programs.
• Lead administration of asset management incentive programs, including short- and long-term incentives, co-invest arrangements, and deferred compensation plans.
• Evaluate and recommend program enhancements to align with business strategy, investment performance objectives, retention priorities, and market competitiveness.
• Compensation Strategy and Advisory Support
• Serve as a trusted advisor to Asset Management leadership on compensation strategy, program structure, and individual pay decisions across investment and operational roles.
• Lead market benchmarking and competitive analysis for asset management positions, and monitor industry trends across base salary, incentives, carried interest, co-invest, and deferral programs.
• Translate market data and industry insights into clear, actionable recommendations that support attraction, retention, and long-term business strategy.
• Provide modeling, scenario analysis, and data-driven guidance to inform hiring offers, promotions, retention actions, organizational changes, and fund-related compensation decisions.
• Operational Excellence
• Design and maintain repeatable, well-controlled administration processes for complex incentive vehicles.
• Identify and implement process improvements to enhance accuracy, efficiency, transparency, and stakeholder experience.
• Oversee third-party vendors supporting compensation administration, including establishing requirements, managing service levels, and resolving issues.
• Develop executive-level reporting and dashboards summarizing compensation outcomes, fund performance alignment, carried interest participation, and risk exposure.
• Ensure data integrity and maintain robust records for forecasting and long-term financial planning.
• Develop and maintain job descriptions and role profiles for asset management positions to ensure consistent leveling, compensation alignment, and organizational clarity.
• Support organizational design initiatives by providing compensation impact analysis and cost modeling.
• Ad Hoc Projects
• Lead special compensation initiatives, including new fund launches, new incentive vehicle implementation, policy updates, and system enhancements.
• Participate in cross-functional projects impacting compensation design or administration.

Minimum Qualifications

• Bachelor's Degree and 8+ relevant work experience OR
• 10-12+ years relevant work experience without a degree
• Demonstrated hands-on experience managing and administering a carried interest plan, including allocation modeling, vesting administration, and distribution calculations.
• Experience within asset management, investment management, private equity, hedge fund, or similar financial services environments.
• Strong quantitative and financial modeling skills with the ability to analyze fund performance metrics and incentive outcomes.
• Experience partnering with senior business leaders and providing consultative compensation guidance.
• Knowledge of governance, regulatory, tax, and compliance considerations related to incentive compensation in asset management.
• Demonstrated ability to design and maintain effective internal controls and audit-ready documentation.
• Strong project management skills with the ability to independently manage multiple priorities and complex timelines.
• Advanced Excel proficiency and comfort working with large, complex data sets.

Preferred Qualifications

• Direct experience supporting an insurance-affiliated asset manager.
• Experience implementing or enhancing carried interest, co-investment, or deferred compensation programs.
• Experience working with compensation systems, equity administration platforms, or specialized incentive tracking tools.
• Strong understanding of partnership structures, fund economics, and waterfall models.
• CCP, PHR, SHRM-SCP, or other related certification

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.