Head of Derivatives & Hedging

Job Description - Head of Derivatives & Hedging (240000K7)

Primary Location

UNITED STATES-NY-New York

Organization

Equitable

Schedule

Full-time

Description

At Equitable, our power is in our people.

We're individuals from different cultures and backgrounds. Those differences make us stronger as a team and a force for good in our communities. Here, you'll work with dynamic individuals, build your skills, and unleash new ways of working and thinking. Are you ready to join an organization that will help unlock your potential?

The base salary range for this position is $200,000-$250,000. Actual base salaries vary based on skills, experience, and geographical location. In addition to base pay, Equitable provides compensation to reward performance with base salary increases, spot bonuses, and short-term incentive compensation opportunities. Eligibility for these programs depends on level and functional area of responsibility.

For eligible employees, Equitable provides a full range of benefits. This includes medical, dental, vision, a 401(k) plan, and paid time off. For detailed descriptions of these benefits, please reference the link below.

Reporting to the Treasurer, the Head of Derivatives & Hedging will be responsible for overseeing the hedging portfolio, and execution of the trading programs in connection with the hedging portfolio, for Equitable’s $100bn+ market-sensitive liabilities, including variable annuities with guaranteed benefits, registered index-linked annuities, and indexed universal life contracts. This highly visible role is instrumental in mitigating complex market risks associated with Equitable’s products and works to protect Equitable’s economic and statutory balance sheets.

Core Responsibilities

1. Oversee the derivatives portfolio and execution of the trading programs for Equitable’s market-sensitive hedging liabilities (VA, RILA, IUL)
2. Conduct attribution of the hedging P&L and report effectiveness of the hedging program to senior management
3. Enhance operational processes to support trading, P&L reporting, attribution, and scenario analysis
4. Evaluate alternative hedging strategies to optimize hedge P&L and alignment with other valuation frameworks – e.g., US statutory, US GAAP
5. Provide SME support to management and commercial businesses on derivatives strategy (e.g., for other areas of capital management and product development)
6. Work collaboratively with stakeholders from Actuarial, Investments, Risk Management, and commercial businesses to support ALM, liquidity, capital, and other needs
7. Monitor and advise on evolutions of the derivatives markets and regulatory landscape
8. Coach and develop junior members of the hedging team

Qualifications

1. 5+ years of experience in developing and implementing derivatives-based hedging and/or income generation strategies
2. Advanced degree (Masters or PhD) in a quantitative field strongly preferred
3. Experience with life insurance and annuities strongly preferred
4. Coding experience (for quantitative analyses – e.g., in Python, R, Matlab) strongly preferred
5. Working knowledge of US statutory accounting, reserving, and RBC rules, particularly for variable annuities preferred
6. Familiar with peer practice and industry landscape for derivative management and hedging preferred
7. Excellent critical thinking, sound judgment, complex problem-solving and execution skills
8. Ability to develop cross-functional relationships to build cohesive and collaborative teams, acting as strategic driver and manager of key strategic initiatives
9. Adept at persuasive communications, supported by insightful, fact-based analyses and industry expertise
10. Project management experience with the ability to demonstrate leadership in the sponsorship and execution of multiple, concurrent and complex business initiatives
11. Executive presence required to present to senior management and various committee forms.

Preferred Skills

1. Continuous Learning: Understanding of the rationale behind the necessity to continually learn and grow and the ability to seek performance feedback and identify approaches to improve own performance and that of others.
2. Results Orientation: Knowledge of the importance of meeting or exceeding established targets; ability to drive critical activities to completion.
3. Staff and Career Development: Knowledge of available internal and external learning resources and ability to address learning, training, and career development needs of individuals, teams or organization.
4. Diversity, Equity and Inclusion: Demonstrates a commitment to Diversity, Equity and Inclusion by treating everyone with respect and dignity, ensuring all voices are heard and advocating for change.

ABOUT EQUITABLE

At Equitable, we’re a team of over ten thousand strong; committed to helping our clients secure their financial well-being so that they can pursue long and fulfilling lives.

We turn challenges into opportunities by thinking, working, and leading differently – where everyone is a leader. We encourage every employee to leverage their unique talents to become a force for good at Equitable and in their local communities.

We are continuously investing in our people by offering growth, internal mobility, comprehensive compensation and benefits to support overall well-being, flexibility, and a culture of collaboration and teamwork.

We are looking for talented, dedicated, purposeful people who want to make an impact. Join Equitable and pursue a career with purpose.

Equitable is committed to providing equal employment opportunities to our employees, applicants and candidates based on individual qualifications, without regard to race, color, religion, gender, gender identity and expression, age, national origin, mental or physical disabilities, sexual orientation, veteran status, genetic information or any other class protected by federal, state and local laws.

NOTE: Equitable participates in the E-Verify program.

If reasonable accommodation is needed to participate in the job application or interview process or to perform the essential job functions of this position, please contact Human Resources at (212) 314-2211 or email us at