Senior Financial Analyst – Investment Management

National Life Insurance Company • Addison, TX

2d • Onsite

About The Position

This role supports the financial operations of a $40+ billion asset management firm, NLG Capital, which is the investment management company of National Life Group (NLG). The Senior Financial Analyst will have significant exposure to senior leadership and the firm’s investment strategies. NLG Capital manages NLG Groups proprietary investment portfolio, enabling a long-term, conviction-driven approach to investing. The role focuses on the accounting and economics of running NLG Capital as a business, including calculating investment management agreement (IMA) fees and allocating operating expenses across investment strategies and asset classes. A key responsibility is bringing specific expertise in private assets, including calculating investment performance and carry compensation tied to private strategies, with coordination with third-party providers as needed. The analyst will work closely with the COO, NLG Finance team, investment professionals, operations, and external service providers to ensure accurate fee determination, sound performance and carry computations, and to build reporting that enhances transparency and financial insight across NLG Capital.

Requirements

• Bachelor’s degree in Accounting, Finance, or related field required.
• 7+ years of relevant experience at an asset manager, public accounting firm, or similar environment, with meaningful exposure to private markets.
• Hands-on experience with investment management fee calculations, expense allocations across strategies and supporting the accounting, financial reporting, and operational economics of an investment management organization.
• Experience developing financial analyses, management reporting, budgeting, forecasting, and variance analysis.
• Experience calculating, reviewing, or validating private investment performance metrics, including IRR, MOIC, and related measures.
• Strong proficiency in Microsoft Excel; experience with general ledger systems.
• High attention to detail and strong organizational skills.
• Ability to manage multiple priorities in a collaborative, team-oriented environment.
• Strong communication skills and ability to work effectively across accounting, investment, and operations teams.

Nice To Haves

• CPA, CFA, or progress toward either credential.
• Experience calculating, reviewing, or administering carried interest or other performance-based incentive compensation arrangements.
• Experience calculating and reporting private investment performance metrics.
• Experience coordinating with third-party providers on performance or carry plan calculations.
• Experience in private fund accounting, fund administration, or alternative investment operations.
• Collaboration on incentive compensation, carried interest, or long-term incentive plan calculations.
• Experience with performance or carry software.

Responsibilities

• Calculate and review fees payable to NLG Capital under Investment Management Agreements (IMAs) with affiliated insurance investors, including base fee mechanics, fee offsets, and any performance-linked components.
• Prepare and review allocations of operating expenses across investment strategies and asset classes—covering shared functions such as research, technology, operations, and compliance—in accordance with IMA terms and established methodologies.
• Build management reporting and analytics that create transparency into NLG Capital’s revenue, expense, and performance drivers and deliver financial insight to senior leadership.
• Maintain documentation supporting fee and expense allocation methodologies and ensure consistent application across strategies and periods.
• Support month-end and quarter-end close activities at the asset management company level, including accruals for fees, expenses, and incentive compensation.
• Contribute to business planning, forecasting, and variance analysis for NLG Capital’s revenue and expense base.
• Calculate investment performance for private asset strategies, including IRR, multiples, and other metrics appropriate to private investment portfolios.
• Validate and reconcile performance and carry calculations between internal records and any third-party computations.
• Partners with Human Resources on carry compensation calculations and administration.
• Support the evaluation, onboarding, and ongoing oversight of third-party providers supporting carry calculations, and other investment related items.
• Partner with investment, operations, legal, and human resources teams to ensure carry plan terms, IMA terms, and expense policies are accurately reflected in the accounting records.
• Identify and implement opportunities to strengthen controls and improve the efficiency of fee, expense, and carry calculation processes.
• Support internal reporting needs for affiliated insurance company investors and senior leadership.
• Support fund formation activities as needed.
• Assist with ad hoc analyses and special projects as needed.
• All other duties as assigned.

Benefits

• Benefits start day one and are flexible and customizable.
• 401(k) eligibility
• Various paid time off benefits, such as vacation, sick time, and parental leave.
• Discretionary annual incentive programs.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior