Director, Investments, Derivatives Management and Trading (Hybrid)

TruStage•Madison, WI

1d•Hybrid

About The Position

At TruStage, we’re on a mission to make a brighter financial future accessible to everyone. We put people first, and work hand in hand with employees and customers to create a diverse and inclusive environment. Passionate about building insurance and financial services solutions, we push the boundaries of what’s possible. We need you to help us shape what’s next. You’ll be encouraged to share your experiences, ideas and skills to help others take control of their financial future. Join a team that has received numerous awards for being a top place to work: TruStage awards and recognition This role is required to maintain a presence in our corporate headquarters in Madison, WI. Stong preference for candidates in the Madison area or for those who are open to relocation. Job Purpose: This position is accountable for the derivatives management function supporting the firm’s insurance general account, with derivative trading and execution serving as a core component of the role. The position has a primary responsibility for RILA hedging and broader enterprise risk management including interest rate, foreign exchange, and other derivative strategies. The Director partners closely with Asset Liability Management (ALM) and Product teams to design, implement, and continuously refine hedging strategies aligned with liability profiles, product features, capital objectives, and enterprise risk tolerances. This role serves as a market-facing leader and thought leader in derivatives, actively engaging with external counterparties and industry participants to inform strategy, drive best practices, and ensure the organization remains at the forefront of evolving market dynamics and regulatory developments.

Requirements

Graduate degree preferred (Finance, Economics, Engineering, or related field).
12+ years direct work experience in derivatives trading, insurance asset management, ALM, or related functions.
Deep expertise across derivatives instruments including options, swaps, futures, and structured hedging strategies.
Strong knowledge of insurance balance sheet management, with experience supporting RILA or similar products strongly preferred.
Demonstrated experience partnering with ALM, Product, and actuarial teams.
Proven ability to build and maintain external market relationships with counterparties and industry participants.
Strong understanding of regulatory and accounting frameworks governing derivatives (e.g., NAIC, statutory reporting) and ability to adapt to evolving requirements.
Proven ability to provide strategic insight and thought leadership influencing product development and risk management.
Proven ability to translate strategy into disciplined execution with strong operational controls.
Experience leading or mentoring investment professionals.
Strong analytical skills with ability to interpret complex financial, actuarial, and risk data.
Excellent communication and influencing skills across internal and external audiences.
Proficiency in Bloomberg and derivative analytics/risk systems.
Professional designations such as CFA, FRM, or equivalent strongly preferred.
Ability to travel 10%–20%.

Nice To Haves

Strong preference for candidates in the Madison area or for those who are open to relocation.

Responsibilities

Communicates Effectively: Clearly communicates complex derivative strategies, hedge performance, and balance sheet impacts to senior leadership, ALM, Product, portfolio managers, and risk committees. Demonstrates strong executive presence in ALCO, product strategy discussions, and other investment related committees. Represents the firm externally with counterparties, industry groups, and market participants.
Ensures Accountability: Responsible for execution of derivative strategies with strong attention to detail, risk discipline, and operational accuracy. Accountable for successful design and implementation of hedging programs, particularly RILA-focused strategies, as well as interest rate, FX, and broader derivative applications. Aligns derivative activity with ALM objectives, product design features, and enterprise risk appetite. Drives high-performance culture with consistent achievement of risk, return, and operational objectives.
Learning: Maintains expert-level knowledge of global derivative markets, structured products, and insurance hedging techniques. Acts as a thought leader, bringing external insights, innovations, and emerging trends into the organization Continuously monitors regulatory developments and industry best practices, responsible for alignment and proactive adaptation. Use and evaluation of systems such as Bloomberg, risk analytics platforms, and trade/order management systems.
Fosters Inclusion: Promotes a culture of collaboration across trading, ALM, Product, actuarial, portfolio management, risk, and operations teams. Serves as a culture ambassador for TruStage Investment Management.
Customer Focus: Manage relationship with ALM and Product teams to align derivative strategies with liability structures and product features, particularly for RILA offerings. Provides forward-looking insights that inform product design, pricing, and risk management decisions. Incorporates external market intelligence to enhance hedge effectiveness and capital efficiency.
Leadership: Guides and mentors derivatives traders and analysts. Builds organizational capability in derivatives strategy, execution, and innovation. Demonstrates strong self-awareness, authenticity, and the ability to lead through complexity.
Lead design, execution, and governance of derivative strategies in close partnership with ALM and Product, including: RILA hedging programs (primary focus; options-based strategies supporting buffers, caps, GLWBs, and crediting structures). Interest rate risk management (swaps, swaptions, futures, Treasury derivatives aligned with liability sensitivities). Foreign exchange hedging for global asset exposures. Additional derivative strategies supporting liquidity management, spread risk, capital optimization, and tactical positioning.
Serve as a key connector across Investments, ALM, and Product, ensuring cohesive strategy across asset, liability, and product dimensions.
Develop and maintain strong external relationships with dealers, banks, and counterparties, negotiating pricing, accessing liquidity, and identifying market opportunities.
Actively engage with industry forums and peer networks to stay aligned with emerging derivatives practices and innovations and regulations.
Provide thought leadership on derivatives strategy, including new hedging approaches and structuring techniques to support evolving insurance products.
Monitor and interpret regulatory and accounting developments (e.g., NAIC, derivatives oversight, capital treatment, GAAP hedge accounting) and incorporate changes into strategy and governance.
Execute trades and oversee full lifecycle management (pricing, execution, collateral, settlements) with precision and strong controls.
Manage relationship with ALM, Product, and risk management to monitor exposures, perform stress testing, and evaluate hedge effectiveness.
Responsible for compliance with regulatory frameworks and internal governance standards.
Develop and enhance investment and derivatives policies.
Collaborate across enterprise functions (ALM, Product, actuarial, finance, risk, legal, operations).
Present derivative strategy, product implications, hedge performance, and ALM alignment insights to ALCO, and senior leadership.
Lead or contribute to enterprise-wide strategic initiatives involving derivatives, hedging optimization, and product innovation.
The above statement of duties is not intended to be all inclusive and other duties will be assigned from time to time.