Vice President of Asset Liability Management

Group 1001 is a consumer-centric, technology-driven family of insurance companies on a mission to deliver outstanding value and operational performance by combining financial strength and stability with deep insurance expertise and a can-do culture. Group1001’s culture emphasizes the importance of collaboration, communication, core business focus, risk management, and striving for outcomes. This goal extends to how we hire and onboard our most valuable assets – our employees.

Job Summary

The Vice President of Asset Liability Management will lead the development and execution of our asset liability management (ALM) strategies to optimize financial performance while effectively managing balance sheet risks. This executive role requires deep expertise in aligning assets and liabilities, particularly within the annuity product space. The VP will collaborate closely with investment management, actuarial, finance, risk management, and product development teams to ensure cohesive strategy implementation.

Key Responsibilities

Strategic Leadership

• Develop and Implement ALM Strategies:
  • Develop and oversee methodologies used to measure ALM exposures and market risks including duration, key rate duration, convexity, and liquidity. This includes both the assets and liabilities.
  • Propose ALM limits (mismatch) to be approved by the Company’s Asset Liability Committee and ensure compliance with approved limits.
  • Formulate comprehensive asset liability management strategies (including the use of derivatives) to ensure the Company’s asset/liability position continues to be aligned with the company's financial objectives and risk appetite.
  • Chair the Company’s Asset Liability Committee and provide input on other governance including risk policies, Derivative Use Plan, and others.
• Optimize Financial Performance:
  • Analyze the impact of various economic scenarios on the balance sheet including providing input on the Company’s Own Risk and Solvency Assessment.
  • Identify opportunities to enhance risk-adjusted returns, capital efficiency and other financial results through effective ALM practices and strategies.
  • Coordinate with trading/execution team to ensure optimal performance and execution of trading associated with documented ALM strategies and necessary trades.

Risk Management

• Monitor Balance Sheet Risks:
  • Lead the identification, measurement, and management of risks arising from asset-liability mismatches.
  • Collaborate with the actuarial team to ensure ALM models robustly capture ALM risks including sensitivity and stress testing frameworks. 
• Regulatory Compliance:
  • Ensure ALM strategies are consistent with governance and regulations as well as optimized for the Company’s capital and solvency standards. 
  • Prepare and present reports to regulatory bodies, committees, and other stakeholders as required.

Collaboration and Communication

• Cross-Functional Collaboration:
  • Work closely with the investment team to incorporate documented investment strategies into ALM reporting, processes, and strategies. 
  • Partner with actuarial and product development teams to understand liability characteristics and ensure ALM position is incorporated into liability considerations and liability designs properly consider ALM.
• Stakeholder Communication:
  • Present ALM strategies, analyses, and performance reports to Asset Liability Committee, senior management and the board of directors.
  • Communicate complex financial concepts clearly to various internal and external stakeholders.

• Enhance Organizational Capability:
  • Drive initiatives to improve ALM processes, systems, and methodologies across the organization.

Market Analysis

• Stay Informed on Market Trends:
  • Monitor economic indicators, market developments, and regulatory changes affecting asset liability management.
  • Assess the implications of new financial products, investment opportunities, and hedging instruments on the company's ALM strategy.

Qualifications

Education and Certifications

• Master's degree in Finance, Economics, Actuarial Science, or a related field.
• Professional certifications such as Chartered Financial Analyst (CFA), Financial Risk Manager (FRM), or Fellow of the Society of Actuaries (FSA) are highly preferred.

Experience

• Minimum of 10-15 years of progressive experience in asset liability management within the insurance or financial services industry.
• Extensive experience with annuity products and a deep understanding of asset-liability dynamics of annuity carriers.
• Extensive experience with derivatives and how they are used to manage financial risks.
• Proven track record of developing and implementing successful ALM strategies.

Skills and Competencies

• Technical Expertise:
  • In-depth knowledge of fixed-income investments, derivatives, risk management techniques, and insurance liability structures.
  • Deep knowledge of ALM modeling tools and metrics utilized to compute asset and liability risks/exposures.
  • Ability to contribute in a hands-on manner, developing analytical tools, developing processes and procedures, among other things.
• Leadership Abilities:
  • Ability to collaborate well across functions and influence others in the organization who are outside direct reporting lines.
  • Strategic thinker with excellent problem-solving capabilities.
• Communication Skills:
  • Exceptional verbal and written communication skills.
  • Ability to translate complex financial concepts into clear, actionable insights.
• Ethical Standards:
  • High level of integrity and commitment to ethical business practices.

Benefits Highlights:  

Employees who meet benefit eligibility guidelines and work 30 hours or more weekly, have the ability to enroll in Group 1001’s benefits package. Employees (and their families) are eligible to participate in the Company’s comprehensive health, dental, and vision insurance plan options.  Employees are also eligible for Basic and Supplemental Life Insurance, Short and Long-Term Disability, and to enroll in the Company’s Employee Assistance Program and other wellness initiatives.  Employees may also participate in the Company’s 401K plan, with matching contributions by the Company. 

Group 1001, and its affiliated companies, is strongly committed to providing a supportive work environment where employee differences are valued. Diversity is an essential ingredient in making Group 1001 a welcoming place to work and is fundamental in building a high-performance team. Diversity embodies all the differences that make us unique individuals.  All employees share the responsibility for maintaining a workplace culture of dignity, respect, understanding and appreciation of individual and group differences.