Director, Insurance ALM & Asset Allocation

Director, Insurance ALM & Asset Allocation job ! Our Client designs, distributes, issues, administers, and services annuity and related product solutions for individual consumers and institutions worldwide. Our Client is paving the way for industry-leading proprietary technology and system designs, along with third-party platform support for other institutions.

The Director, Insurance ALM & Asset Allocation job's competitive base salary is $170k to $210k + Negotiable DOE. This Director, Insurance ALM & Asset Allocation job is located in New York City, NY. Hybrid or work from home 1 or 2 days per week. Apply now for this excellent Director, Insurance ALM & Asset Allocation job!

Summary

Our Client is seeking a Director, Insurance ALM & Asset Allocation to join its Insurance Investment Management team. In this role, you will lead asset-liability management (ALM) and asset allocation activities for the company's annuity general account. Specifically, you will focus on liability-driven portfolio positioning, strategic and tactical asset allocation, and portfolio optimization.

Additionally, you will support capital, liquidity, and stress analytics while collaborating with investment, actuarial, product, finance, and other business partners. As a hands-on leader within a growing platform, you will assume significant responsibilities, influence investment decisions, and gain direct exposure to senior leadership.

Our Client may also fill this position at the AVP level, depending on the selected candidate's experience and qualifications.

Key Responsibilities

Asset-Liability Management

• Lead ALM analytics for fixed annuity liabilities, including duration and key-rate duration matching, convexity, cash flow gap analysis, reinvestment risk, and disintermediation risk.
• Develop and evaluate liability and interest rate scenarios, including rate shocks, lapse and surrender sensitivities, and other stress scenarios. Subsequently, translate analytical findings into actionable portfolio positioning recommendations.
• Collaborate with internal and external actuarial partners to evaluate liability cash flows, refine modeling assumptions, strengthen analytical processes, and deliver recurring ALM reports.
• Partner with Product and other stakeholders to develop crediting rate strategies, manage spreads, evaluate new-money rates, and assess investment considerations that support competitive product pricing.

Asset Allocation & Portfolio Analytics

• Lead the strategic asset allocation process by developing risk/return assumptions, establishing asset class targets, optimizing portfolios, preparing governance materials, and supporting implementation.
• Conduct tactical asset allocation and relative value analysis while considering yield, duration, credit quality, liquidity, capital requirements, and other portfolio characteristics.
• Design, develop, and maintain portfolio construction models, optimization frameworks, and analytical tools that strengthen investment decision-making.
• Evaluate new asset classes, investment programs, and transactions to determine portfolio suitability. In particular, assess expected returns, capital efficiency, liquidity, and ALM implications.
• Collaborate with investment teams across public and private fixed income markets, including structured credit, mortgage loans, and asset-based lending. Through these partnerships, identify opportunities to enhance portfolio performance and diversification.

Capital, Liquidity & Risk Management

• Monitor portfolio liquidity, investable cash, contingent funding capacity, and liquidity stress scenarios to support effective risk management.
• Analyze NAIC Risk-Based Capital (RBC) and AM Best's Best's Capital Adequacy Ratio (BCAR) requirements. Furthermore, evaluate how regulatory capital considerations influence investment strategies and asset allocation decisions.
• Integrate capital efficiency, liquidity, and risk considerations into portfolio construction, investment evaluations, and transaction recommendations.

Investment Governance & Reporting

• Prepare and present portfolio positioning analyses, capital markets insights, and investment recommendations to senior leadership and other key stakeholders.
• Support investment policy development, guideline compliance, statutory reporting, and rating agency requirements.
• Additionally, collaborate on regulatory and reinsurance-related initiatives to ensure investment strategies align with broader organizational objectives.

Qualifications

Education & Professional Experience

• Bachelor's degree in Finance, Economics, Mathematics, Actuarial Science, Engineering, or a related quantitative discipline.
• Bring approximately 5-10+ years of relevant professional experience. The Client will determine the appropriate title and level based on the candidate's expertise, accomplishments, and responsibilities.
• Demonstrate experience in insurance investment management, insurance ALM, portfolio management, insurance asset management, or a closely related field.
• Ideally, possess direct experience managing or supporting an insurance general account, preferably within a life insurance or annuity organization.

Investment & Analytical Expertise

• Demonstrate a strong understanding of fixed income portfolio management and ALM principles, including duration, convexity, cash flow matching, scenario analysis, and portfolio optimization.
• Preferably, bring direct experience developing strategic and/or tactical asset allocation strategies for spread-based insurance liabilities.
• Possess knowledge of structured investment products, including residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS), asset-backed securities (ABS), and collateralized loan obligations (CLOs).
• Understand insurance capital frameworks, particularly NAIC RBC and/or AM Best BCAR, and their implications for investment decisions.
• Additionally, experience with annuity products, derivatives, or hedging strategies will provide an advantage.

Technical Skills

• Demonstrate advanced Excel proficiency and strong financial modeling capabilities.
• Ideally, possess experience with analytical and investment platforms such as Bloomberg, Clearwater, FactSet, Python, SQL, VBA, or comparable tools.
• Apply quantitative analysis and financial modeling techniques to evaluate investment opportunities, assess portfolio risks, and develop practical recommendations.

Leadership & Communication

• Communicate complex investment concepts clearly and effectively through strong analytical, written, and verbal communication skills.
• Translate detailed financial analyses into actionable recommendations that support senior leadership and investment decision-making.
• Take ownership of key initiatives, manage competing priorities, and deliver results in a lean, fast-growing organization.
• Furthermore, build productive relationships across investment, actuarial, product, finance, and other functional teams.

Preferred Professional Credentials

• CFA designation or progress toward earning the CFA charter.
• Actuarial credentials or progress toward professional actuarial certification.
• Advanced degree in Finance, Economics, Mathematics, Actuarial Science, or a related discipline.