Director, CICB Balance Sheet Risk Management

Corebridge Financial • Los Angeles, CA

57d • Hybrid

About The Position

At Corebridge Financial, we believe action is everything. That’s why every day we partner with financial professionals and institutions to make it possible for more people to take action in their financial lives, for today and tomorrow. We align to a set of Values that are the core pillars that define our culture and help bring our brand purpose to life: We are stronger as one: We collaborate across the enterprise, scale what works and act decisively for our customers and partners. We deliver on commitments: We are accountable, empower each other and go above and beyond for our stakeholders. We learn, improve and innovate: We get better each day by challenging the status quo and equipping ourselves for the future. We are inclusive: We embrace different perspectives, enabling our colleagues to make an impact and bring their whole selves to work.

Group: Balance Sheet Risk Management
Reports to: Head of Actuarial Strategy & Integration

About the role
We are seeking a Director, Bermuda Balance Sheet Risk Management, to execute first-line ALM and balance sheet optimization for Corebridge Insurance Company of Bermuda (CICB). CICB is a strategic legal entity supporting Corebridge’s reinsurance, capital management, and long-duration liability optimization under Bermuda regulatory frameworks. CICB plays a critical role in Corebridge’s enterprise balance sheet strategy. This is not a second-line oversight or control role, and not an immediate people-leadership role. It is a hands-on management role responsible for building, operating, and evolving CICB’s ALM analytics and optimization framework, in close collaboration with actuarial, investments, derivatives, finance, and reinsurance teams.

Requirements

• Actuarial credential: FSA (or international equivalent) strongly preferred.
• 10+ years of experience in ALM, balance sheet risk management, or actuarial roles with strong asset-liability integration.
• Hands-on experience building ALM analytics, stress testing, and optimization frameworks.
• Strong ability to partner with asset management, derivatives, and actuarial teams.
• Clear, concise communicator with strong executive presence.

Nice To Haves

• Bermuda insurance or reinsurance experience.
• Exposure to reinsurance-supported balance sheet structures.
• Experience with hedging programs for long-duration liabilities.
• Familiarity with economic capital or Bermuda-style balance sheet frameworks.

Responsibilities

• Designing and executing CICB’s ALM and balance sheet optimization framework, with a primary focus on the liability side and its interaction with assets, hedging, and capital.
• Consuming actuarial inputs (assumptions, cash flows, sensitivities) primarily produced by the Chief Actuary of CICB and her team.
• Translating those inputs into ALM analytics, optimization insights, and actionable balance sheet strategies.
• Partnering with asset and derivatives teams to design and evaluate asset allocation and hedging actions.
• Build and maintain CICB’s asset-liability management framework, integrating liability cash flows, asset portfolios, derivatives, and capital constraints.
• Convert actuarial liability projections into ALM-ready metrics (duration, convexity, key-rate exposure, liquidity profiles, optionality).
• Develop ALM dashboards, analytics, and decision tools to evaluate balance sheet positioning across base and stressed environments.
• Perform combined asset-liability cash flow testing, sensitivity analysis, and scenario modeling.
• Analyze liability behavior (surrenders, utilization, longevity, interest-rate sensitivity) and assess implications for asset strategy, hedging, and liquidity.
• Partner with asset management teams to design liability-aware portfolio strategies (duration alignment, spread exposure, illiquidity tolerance).
• Work with derivatives teams to design, size, and assess hedging strategies (rates, convexity, optionality), including hedge effectiveness analysis.
• Recommend balance sheet actions that improve earnings stability, capital efficiency, and alignment with risk appetite.
• Develop ALM stress and scenario analytics that reflect the joint behavior of assets and liabilities to inform management.
• Quantify impacts of regulatory market shocks, behavioral changes, and structural shifts on ALM position.
• Support regulatory filing requirements.
• Support evaluation of reinsurance and internal transactions from an ALM and balance sheet optimization perspective.
• Assess implications for liability cash flows, capital usage, hedging needs, and balance sheet resilience.
• Partner with actuarial, finance, asset, and legal teams to integrate transactions into the ALM framework.
• Leverage ALM and liability optimization expertise to support other Corebridge balance sheets on an as-needed basis.
• Contribute to cross-entity initiatives such as: ALM framework enhancements, New transaction or structure evaluations, Stress/scenario methodology development, Best-practice sharing across legal entities.
• Act as a key ALM integrator across actuarial, asset management, derivatives, finance, and reinsurance teams.
• Communicate ALM positioning, risks, and recommendations clearly to senior stakeholders and governance forums.
• Over time, assume people management responsibilities as scope and resourcing expand.

Benefits

• Health and Wellness: We offer a range of medical, dental and vision insurance plans, as well as mental health support and wellness initiatives to promote overall well-being.
• Retirement Savings: We offer retirement benefits options, which vary by location. In the U.S., our competitive 401(k) Plan offers a generous dollar-for-dollar Company matching contribution of up to 6% of eligible pay and a Company contribution equal to 3% of eligible pay (subject to annual IRS limits and Plan terms). These Company contributions vest immediately.
• Employee Assistance Program: Confidential counseling services and resources are available to all employees.
• Matching charitable donations: Corebridge matches donations to tax-exempt organizations 1:1, up to $5,000.
• Volunteer Time Off: Employees may use up to 16 volunteer hours annually to support activities that enhance and serve communities where employees live and work.
• Paid Time Off: Eligible employees start off with at least 24 Paid Time Off (PTO) days so they can take time off for themselves and their families when they need it.

What This Job Offers

• Job Type: Full-time
• Career Level: Director
• Education Level: No Education Listed
• Number of Employees: 1,001-5,000 employees