Job Summary
The Director will lead the production and ongoing management of investment-related deliverables for the Company’s institutional businesses, including Pension Risk Transfer (PRT), Funding Agreement Backed Notes (FABN), and the offshore reinsurance platform.
This role serves as a senior technical and strategic resource across the institutional investment team, providing thought partnership to portfolio managers, independently driving cross-functional initiatives, and developing new analytical capabilities with minimal direction. A core focus of the role is portfolio oversight and decision support, requiring the ability to synthesize complex information, identify emerging issues, and recommend actionable solutions across ALM, new business, and in-force management workstreams.
The position reports to the AVP of Investments and works closely with external asset managers and internal stakeholders across Investments, Treasury, Actuarial, Finance, and FP&A to ensure alignment, execution, and continuity of investment-related initiatives.
Duties and Responsibilities
Inforce Management/Asset Liability Management (ALM)
- Analyze actual versus expected investment deployment related to new business flows; independently identify deviations, diagnose root causes, and recommend corrective actions.
- Maintain an enterprise-level view of portfolio liquidity, cash positioning, and reinvestment capacity across products, legal entities, and asset classes.
- Monitor portfolio runoff, liquidity needs, and reinvestment timing to support business growth and capital efficiency.
- Track and evaluate asset-liability cash flow profiles and portfolio positioning relative to risk limits, investment guidelines, and strategic objectives.
- Proactively identify emerging risks, inconsistencies, or misalignments before they become material issues.
Strategic Asset Allocation (SAA)/New Business Planning
- Lead the design, implementation, and ongoing refinement of Strategic Asset Allocation frameworks for the Company’s institutional business lines and offshore reinsurance entities.
- Partner with external asset managers and internal stakeholders to forecast asset needs and future purchase activity.
- Evaluate new investment opportunities in the context of portfolio fit, liquidity, capital efficiency, and ALM objectives.
- Provide analytical support for pricing, new business onboarding, and long-term portfolio planning.
Tactical Asset Allocation (TAA)
- Drive intra-year portfolio optimization to align asset allocation with evolving business needs, market conditions, and product-specific pricing considerations.
- Assess trade-offs between yield, liquidity, risk, and capital impact when evaluating tactical allocation decisions.
Investment Operations & Stakeholder Coordination
- Liaise with Treasury, Middle Office, and Investment Accounting to ensure trade activity, cash movements, and data flows are accurate and timely.
- Improve operational efficiency within cash management, portfolio reporting, and data processes through automation and process redesign.
- Identify, investigate, and resolve data inconsistencies or errors across investment systems and reports.
- Coordinate and manage consolidated portfolio reporting used for internal decision-making, actuarial modeling, and corporate planning.
- Communicate investment activity, positioning, and directives clearly to external asset managers on a regular basis.
- Collaborate cross-functionally with Actuarial and Finance/FP&A teams to translate investment activity into inputs for forecasting, modeling, and analysis.
- Respond to ad hoc analytical requests from senior stakeholders with clear, concise, and decision-oriented outputs.
- Assist in the development and informal mentoring of analysts or interns, as appropriate.
- Serve as a senior thought partner to portfolio managers on complex analytical, modeling, and investment strategy questions — including ALM frameworks, reinvestment modeling, hedging strategy, and capital efficiency trade-offs — enabling the broader team to operate with greater speed and depth.
- Proactively identify and lead new strategic initiatives across the institutional investment team, including model enhancements, process improvements, and analytical frameworks that expand team capabilities and support senior leadership decision-making.
Experience and Education Requirements
- Bachelor’s degree in mathematics, economics, investments or related field
- 10+ years of investment-related experience
- CFA and/or ASA designation preferable
Knowledge, Skills & Abilities
- Advanced technical and financial modeling skills with the ability to automate/streamline current processes
- Effective verbal and written communication skills
- Superior analytical and problem-solving skills
- Proficiency in MS Excel and PowerPoint
- Familiarity with Access/database, SQL, VBA, Bloomberg and FactSet (or similar)
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Additional Information
Work Environments
F&G believes in an employee-centric flexible environment, which is why we offer the ability for in-office, hybrid and remote work arrangements. During the hiring process, you'll work with your leader to decide what works best for your role.
F&G complies with federal and state disability laws and makes reasonable accommodations for applicants and candidates with disabilities, unless such accommodation would cause an undue hardship for F&G. If reasonable accommodation is needed to participate in the job application or interview process, please contact [email protected].
Join our employee-centric hybrid work environment: F&G Careers
About F&G
Since 1959, Fidelity & Guaranty Life Insurance Company (F&G) has offered annuity and life insurance products to those who are seeking security in retirement and protection during life’s unexpected events.
As a national Top Workplace1, an Iowa Top Workplace2 and a proud equal opportunity employer, F&G team members are empowered, collaborative, dynamic and authentic. We believe that by embracing these values, we will continue to build and strengthen the company while continuing to be a great place to work.
1Top Workplaces USA 2022 – 2023
2Des Moines Register Top Workplaces 2018 – 2022
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