Compensation Manager - Asset Management

Come join one of America’s fastest-growing insurance companies. Since 1848, National Life Group has aimed to keep our 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. Our mission extends beyond the insurance and annuities policies that we offer. We strive to make the world a better place through our grants from our charitable foundation, paid volunteer time for our employees, environmentally sustainable and healthy workplaces, and events that promote the work of nonprofits in our own backyard. We foster a collaborative environment with opportunities for growth and encourage our associates to live our values: Do good. Be good. Make good. Please note that we do not offer visa sponsorship for this position.

ROLE SUMMARY

Shape the future of investment compensation at National Life Group. We are seeking a Compensation Business Partner- Asset Management to lead the execution and governance of complex incentive structures—including carried interest and fund-based long term cash plan within our asset management team, NLG Capital. This is a high-impact role at the intersection of compensation strategy and investment performance, where you will partner directly with senior investment leaders to align pay with fund outcomes, drive retention of top talent, and ensure market-leading competitiveness across asset management roles. You will own and evolve critical compensation programs that influence how we attract, reward, and retain talent in a highly competitive market—bringing both strategic insight and operational rigor to some of the most complex and visible compensation structures in the organization. The associate in this role will work partner with NLG Capital leadership team on a wide range of compensation responsibilities specific to the Asset Management industry including managing incentive plans, providing consultation and support to business leaders on compensation policies and processes, and leading ad-hoc Compensation projects. The ideal candidate is a strong compensation professional who is able to easily adapt to changing business needs and make mindful decisions in light of ambiguous circumstances, use effective communication skills to share information and collaborate with People Center and business colleagues, and work independently to take ownership of requests, projects, and processes. At National Life, we believe our culture is strongest when we connect in person — sharing ideas, collaborating with colleagues, and building relationships that drive innovation. To support this, the current work schedule for this role includes being on-site Monday through Thursday each week. These designated on-site days may be adjusted in the future with advance notice. A remote work arrangement may be considered for qualified candidates.

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. * Ensure accurate eligibility determination, calculations, approvals, funding validation, and payout execution. * 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. * Partner with Talent Acquisition and business leaders to structure competitive, market-aligned offers while ensuring internal equity, fiscal discipline, and governance alignment.

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.

ALL OTHER DUTIES AS ASSIGNED

MINIMUM QUALIFICATIONS

* Twelve (12) years Total Combined post-secondary education and relevant work experience comprised of a Bachelor’s degree and eight (8) or more years of related work experience, or an Advanced degree and five (5) years or more years of related experience, or Twelve (12) or more years total equivalent work experience. * 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

* 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. The base pay range for this position is the range National Life reasonably and in good faith expects to pay for the position taking into account the wide variety of factors, including: prior experience and job-related knowledge; education, training and certificates; current business needs; and market factors. The final salary or hourly wages offered may be outside of this range based on other reasons and individual circumstances. 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. Salary Pay Range

$101,250—$148,500 USD

National Life Group® is a trade name of National Life Insurance Company, Montpelier, VT – founded in 1848, Life Insurance Company of the Southwest, Addison, TX – chartered in 1955, and their affiliates. Each company of National Life Group is solely responsible for its own financial condition and contractual obligations. Life Insurance Company of the Southwest is not an authorized insurer in New York and does not conduct insurance business in New York. Equity Services, Inc., Member FINRA/SIPC, is a Broker/Dealer and Registered Investment Adviser affiliate of National Life Insurance Company. All other entities are independent of the companies of National Life Group. Fortune 1000 status is based on the consolidated financial results of all National Life Group companies. Social Media Policy [ Site Disclosure and Privacy Policy [ National Life Group 1 National Life Dr Montpelier, VT 05604