Derivative Portfolio Associate

Venerable•West Chester, PA

1d•Hybrid

About The Position

As a Derivative Portfolio Associate, you will play a hands-on role supporting derivative portfolio managers in hedging capital market risk exposures of Variable Annuity liabilities and other risk exposures. This position requires strong quantitative skills and comfort working with complex derivatives. Venerable is currently working in a Hybrid Work Model, in the office 3 days/week and remote 2 days/week. This role is based in our West Chester, PA office. Founded in 2018, Venerable owns and manages legacy annuity business acquired from other entities. Created by an investor group led by affiliates of Apollo Global Management, LLC, Crestview Partners, Reverence Capital Partners, and Athene Holdings, Ltd., Venerable is a business with well-established, strategic investors, experienced in successfully building and growing insurance businesses with patient, long-term capital. The company provides innovative risk transfer solutions to companies with variable annuity blocks who seek to rebuild a secure financial future. Venerable aims to be the answer for companies focused on long term prosperity, embracing change, overcoming challenges, and acting like owners. The company inspires, supports, and empowers one another, thriving on trust, decisiveness, and transparency. Venerable is committed to dismantling and eliminating systemic racism and invested in ensuring change is constantly evolving. As an organization, Venerable stands by its core values and consistently works to sustain an equitable environment where diverse perspectives and backgrounds are core to ensuring organizational success. Its Equity, Diversity, and Inclusion program involves colleagues from throughout the organization and is focused on five core topics to drive change - Education and Perspective Seeking, Training, Investments, Volunteerism, and Human Resource Practices. Venerable is also proud members of CEO Action for Diversity & Inclusion, participants in supporting events in the communities in which they operate, and contributors to the Society of Black Actuaries and Federation of Iowa Insurers Race and Insurance working group.

Requirements

Master’s degree required in Financial Mathematics, Quantitative Finance, Financial Engineering, or related quantitative field
Minimum 1 – 3 years’ experience in derivatives, hedging, risk management, or capital markets roles within asset management, insurance, or trading environments
Advanced knowledge of Financial Mathematics with solid understanding of Derivative Pricing Theory, and their applications
Strong understanding of interest rate and/or equity derivative Greeks (Delta, Gamma, Vega, Theta, Rho) and how they impact portfolio risk, hedging, and P&L
Experience in developing derivative trading strategies and/or developing risk reports which explain key drivers of P&L
Experience using SQL for reporting, or trading support
Strong computer programming skills in Python based environment linked to excel/VBA models
Superior quantitative/analytic reasoning and problem-solving abilities
Ability to analyze risk and make informed decisions under pressure
Adaptability to market changes and evolving trading strategies
Comfortable with ambiguity and manage shifting priorities

Responsibilities

Monitor derivative portfolios which include listed and OTC interest-rate and equity derivatives (e.g., futures, total-return swaps, interest-rate swaps, options and swaptions, and variance swaps)
Research innovative trade ideas/hedging strategies and/or explain portfolio P&L performance and insights through clear risk reporting
Build quantitative/analytical tools to support portfolio management and/or hedge strategy development and/or risk reporting by leveraging financial engineering, capital markets, and product knowledge
Participate in various quantitative projects as needed to help support overall Hedging/Risk teams goals & objectives
Constant monitoring of market trends, news and economic indicators impacting the portfolio
Conduct research/analysis on market trends, financial instruments or new strategies evolving in the market