Vice President, Head of Alternatives – Sammons Financial Group Asset Management

Sammons Financial Group • Chicago, IL

1d

About The Position

Lead the strategy, sourcing, underwriting, and ongoing management of Sammons Financial Group Company's (Sammons Financial Group) alternative investments portfolio, with a primary focus on equity alternatives and third-party fund investments across private equity, private real estate equity, infrastructure equity, real assets, hedge funds, and other opportunistic strategies. Develop and execute strategies aligned with Sammons' Financial Group's risk-adjusted return objectives, capital and liquidity needs, National Association of Insurance Commissioners (NAIC) and state regulatory frameworks, and Asset and Liability Management (ALM) requirements of the general account. This role will be subject to an SEC compliance program, which can include monitoring personal securities transactions, restrictions on outside business activities, as well other oversight and restrictions.

Requirements

• Minimum 15 years' relevant investment experience, with meaningful time spent in alternatives at an insurance general account, pension fund, endowment, Outsourced Chief Investment Officer (OCIO), fund of funds, or alternative asset manager serving insurance clients Required
• Strong understanding of insurance investment frameworks: statutory accounting (SSAP 48, Schedule BA), NAIC RBC treatment of equity-like assets, ALM interaction with illiquid allocations, and rating agency methodologies
• Proven ability to negotiate Limited Partnership Agreements (LPA) and side letters, structure separately managed accounts, and engage substantively with GPs on governance and economics
• Strategic thinker with excellent investment judgment
• Excellent written and verbal communication; including an ability to distill complex fund structures and diligence findings for the CIO, Investment Committee, Board, and rating agencies
• Strong analytical and quantitative capabilities; fluency with portfolio construction tools, pacing models, and PE/PC software (e.g., Burgiss/MSCI, Preqin, eFront, Solovis, or equivalent
• Deep expertise in alternative strategies, fund manager due diligence, and portfolio construction, together with demonstrated fluency navigating life insurance company investment constraints (RBC, Schedule BA treatment, statutory vs. GAAP, liquidity, and rating agency considerations).
• Due to the financial nature and level of accountability of this position, a credit and criminal background check is required - The Fair Credit Reporting Act requires Sammons Financial Group Companies to notify you that, as a routine part of processing this application for employment, Sammons Financial Group may request a consumer report on you to verify all information contained in this application. Such report may be obtained on you to verify all information contained in this application. Such report may include information about work-related behaviors, performance, character, general reputation, and personal characteristics, in addition to information about your previous employment, education, credit history and criminal records
• This role will be subject to a SEC compliance program, which can include monitoring personal securities transactions, restrictions on outside business activities, as well as other oversight and restrictions.

Nice To Haves

• Bachelor's Degree in Finance, Mathematics, Actuarial Science or related field Preferred
• Experience and expertise in private equity, real assets / infrastructure equity, real estate equity, and hedge fund strategies, and the drivers of manager selection, persistence, and dispersion within each Preferred
• Demonstrated experience selecting external managers and constructing a diversified, vintage-balanced alternatives portfolio within a defined pacing model Preferred
• Experience leading co-investment and secondary underwriting alongside primary fund commitments Preferred
• Chartered Financial Analyst (CFA) or Chartered Alternative Investment Analyst (CAIA) designation Preferred

Responsibilities

• Develop and oversee Sammons Financial Group's equity alternatives and fund investment program, including long-term strategic pacing plans, vintage year diversification, and sub-asset class allocations within the Board-approved strategic asset allocation.
• Oversee performance monitoring, valuation review, Limited Partner Advisory Committee (LPAC) representation, amendment voting, capital call and distribution cadence, and corrective actions on existing Limited Partner (LP) and co-investment positions.
• Lead origination, evaluation, selection, and recommendation of third-party managers and funds — buyout, growth equity, venture, secondaries, infrastructure equity, real estate equity, and diversifying hedge fund strategies — for inclusion in the portfolio.
• Direct investment, operational, legal, and tax diligence on primary fund commitments, secondaries, and co-investments. Negotiate side letters, Most Favored Nation (MFN) elections, and fee/economics terms.
• Review Sammons' Insurance-Dedicated Fund and Insurance Company Owned Life Insurance allocations, including monitoring, investor control and diversification rule compliance, and integration of Insurance-Dedicated Fund (IDF)/ Insurance Company-Owned Life Insurance (ICOLI) exposures into overall alternatives portfolio construction and reporting.
• Recommend sub-asset class allocations that balance expected return, volatility, J-curve dynamics, liquidity profile, RBC charges, Schedule BA reporting treatment, and rating agency sensitivity (S&P, AM Best, Moody's).
• Work with Corporate Accounting, Risk, Tax, Treasury, ALM, and Legal to ensure accurate treatment, capital and liquidity planning, and integrated forecasting of alternatives cash flows and Net Asset Value (NAV) progression.
• Contribute to the financial planning process by forecasting investment returns, cash flows, and NAVs; track and explain actual vs. forecast variances.
• Deliver regular reporting to the Chief Investment Officer (CIO), Investment Committee, Board, and rating agencies on strategy, performance, exposures, pacing, and commitments. Prepare materials for regulators and internal business partners.
• Manage, mentor, and develop a team of alternative investment professionals; establish scalable processes, underwriting templates, and monitor frameworks as the program grows.
• Build and maintain relationships with leading General Partners (GPs), placement agents, consultants, and peer LPs; represent Sammons at industry events and investor conferences.
• Commitment to embrace Sammons Financial Group Companies shared values (Accountability, Connection, Openness, Respect and Integrity).
• As stated within the Company Attendance and Punctuality policy, regular attendance is required and expected in order to meet the business service levels and workflow demands.
• Participate in other initiatives and/or projects as necessary.

Benefits

• Comprehensive health coverage for you and your family, including Medical, Dental, Vision, HSA & FSA options, and term life insurance.
• Competitive compensation with a performance-based incentive program tied to clear goals and individual and/or company success.
• 100% company-funded Employee Stock Ownership Plan (ESOP), plus automatic enrollment in our 401(k).
• Friday afternoons off year-round, generous paid time off, and paid holidays.
• Paid development time, tuition reimbursement, and professional development opportunities across industry, individual, and leadership programs.
• Volunteer time off, and our company nonprofit matching gift program, supporting the causes that matter most to you.
• An ownership culture that inspires; join a connected, values-driven workplace where employees take accountability, support one another, and are empowered to do their best work—together shaping our future shared success.

What This Job Offers

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