Sr. Director, Insurance Portfolio Management

About Us

Since 1848, National Life Group has aimed to keep its 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.

We foster a collaborative environment with opportunities for growth and encourage our associates to live our values: Do good. Be good. Make good.

Job Summary

The Insurance Investment Portfolio Manager is responsible for managing the insurer’s investment portfolio to ensure optimal risk-adjusted returns while aligning with liability profiles, regulatory requirements, and capital constraints. This role monitors asset allocation including fixed income and alternative investments, liquidity management, and asset-liability matching strategies to support the company’s long-term financial stability. Specifically, the role will manage underlying portfolio exposure for life and annuity product lines including Index Universal Life, Fixed Index Annuities and the operating leverage program.

This role requires strong knowledge of insurance balance sheets, regulatory frameworks, and institutional portfolio management principles.

Key Responsibilities

• Portfolio Management & Asset Allocation
• Manage fixed income, equity, and alternative investments in line with risk appetite.
• Optimize portfolio duration and credit quality to align with insurance liabilities.
• Maintain portfolio performance against benchmarks and internal targets.
• Asset-Liability Management (ALM)
• Collaborate with actuarial teams to ensure asset-liability matching.
• Conduct duration exposure analysis to actively manage to targets.
• Support capital efficiency initiatives and surplus optimization.
• Risk Management & Compliance
• Monitor market, credit, liquidity, and concentration risks.
• Ensure compliance with insurance regulatory investment guidelines.
• Performance Monitoring & Reporting
• Present asset class reviews to investment committee.
• Present analysis on yield, spread movements, total return, and risk metrics.
• Track key metrics such as yield-to-maturity, duration, convexity, and capital charges.

Qualifications

• Education:
• Bachelor’s degree in Finance, Economics, Mathematics, or related field.
• MBA or Master’s degree preferred.
• CFA charterholder (from CFA Institute) strongly preferred.
• Experience:
• 5–12+ years of experience in institutional asset management, insurance investments, or fixed income portfolio management.
• Strong understanding of insurance balance sheets and statutory accounting.
• Experience with ALM frameworks and capital modeling.
• Technical Skills:
• Deep knowledge of fixed income markets (corporates, sovereigns, structured products).
• Understanding of regulatory capital treatment of assets.
• Proficiency in Excel, Bloomberg, and portfolio management systems.
• Strong quantitative and analytical skills.
• Soft Skills:
• Strategic thinking with strong risk awareness.
• Excellent communication and presentation skills.
• Ability to interact with executive leadership and board members.
• Portfolio allocation and transaction/trading experience.

Benefits

Your benefits start day one and are flexible and customizable to your and your family’s specific needs. Check out the BENEFITS of a Career at National Life!

Base Pay Range: $206,250 - $302,500 USD

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.