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Balance Sheet Management VP

Empower Retirement
$210,800.00 - $305,675.00
life insurance, parental leave, paid time off, tuition reimbursement, 401(k)
United States
May 14, 2025

Our vision for the future is based on the idea that transforming financial lives starts by giving our people the freedom to transform their own. We have a flexible work environment, and fluid career paths. We not only encourage but celebrate internal mobility. We also recognize the importance of purpose, well-being, and work-life balance. Within Empower and our communities, we work hard to create a welcoming and inclusive environment, and our associates dedicate thousands of hours to volunteering for causes that matter most to them.

Chart your own path and grow your career while helping more customers achieve financial freedom. Empower Yourself.

The Balance Sheet Management VP will report to the CFO and will set the strategy and manage Empower's focus on enhancing our risk-adjusted returns by optimizing capital allocation decisions across Empower's portfolio, including product development, investment strategy (including strategic asset allocation), corporate structure and organization, and corporate development -activities in support of the Chief Financial Officer's objectives. Optimizing capital decisions and focus on capital uses such as the capital intensity of asset decisions as well as capital generation by improving capital returns and velocity. This optimization will consider the company's various capital bases including regulatory capital, economic or Empower's own view of capital, as well as maintaining strong credit ratings (e.g, S&P) and identifying relevant trade-offs for decision making.

What you will do:

  • Directing a balance sheet management (BSM) working group that will include keyleaders in Actuarial & Risk, Investments, Business Development, Accounting,Treasury, Finance, and the BSM lead in Empower's parent company. Thisworking group will collaborate to deliver the corporate objective to improveEmpower's risk adjusted returns by improving capital generation and capital allocations.
  • Enhance the capital management framework incorporating an economic view and a cost of capital approach.
  • Ensure market, credit, operational and liquidity risk (including relevant risk limits), controls and tax implications are appropriately considered within the optimization decisions. This includes risk capacity and portfolio diversification/mix, as well as establishing performance management metrics such as internal rates of return, payback periods, stress-based capital metrics, etc. Where appropriate, recommend metrics to be brought into performance management processes (planning, target setting, and compensation frameworks).
  • Recommend trade-offs that improve risk-adjusted returns while balancing Empower's business growth, balance sheet and earnings volatility, cash generation; as well as risk management objectives and liquidity needs. These trade-offs will consider diversification and volatility.
  • Provide input on Empower's strategy as a whole to the Chief Financial Officer when it comes to use of derivatives and reinsurance in product development and asset allocation decisions to manage capital and capital sensitivity.
  • Provide insight and expertise in recommending improvements to Empower's strategic asset allocation and corporate organizational structure while engaging with investments on tactical asset allocation decisions with the goal optimizing risk-adjusted returns. This can also include recommending asset sourcing and/or structuring opportunities.
  • Provide input for the capital generation action plans as well as cash remittance plans for Empower considering regulatory capital plans as well as supervisory capital (RBC) constraints or benefits.
  • Provide input into Empower's corporate development activities such as acquisitions and divestitures to ensure strong risk-adjusted returns and paybacks are considered.

What you will bring:

  • Bachelor's degree in finance, actuarial or related field
  • CPA or Actuarial designation required
  • US STAT and Capital RBC experience required
  • IFRS experience preferred
  • 10-12+ years' experience in finance, actuarial or related field in Financial Services
  • Leadership experience - while role will start as an individual contributor, it will likely expand into a people leader role
  • Strong executive presence and communication skills required.
  • Strong experience with planning, development, implementation, and evaluation of strategic business goals
  • Previous experience with month/quarter end close in a complex financial environment highly preferred. Previous experience in the insurance and/or financial services/retirement field required.

What will set you apart:

  • Ability to think independently and analyze/interpret complex financial results.
  • Strong communication skills and ability to work with all levels of management and staff.
  • Advanced proficiency in MS Office, particularly Excel.

***Applicants must be authorized to work for any employer in the U.S. We are unable to sponsor or take over sponsorship of an employment visa at this time, including CPT/OPT.***

What we offer you

We offer an array of diverse and inclusive benefits regardless of where you are in your career. We believe that providing our employees with the means to lead healthy balanced lives results in the best possible work performance.

  • Medical, dental, vision and life insurance
  • Retirement savings - 401(k) plan with generous company matching contributions (up to 6%), financial advisory services, potential company discretionary contribution, and a broad investment lineup
  • Tuition reimbursement up to $5,250/year
  • Business-casual environment that includes the option to wear jeans
  • Generous paid time off upon hire - including a paid time off program plus ten paid company holidays and three floating holidays each calendar year
  • Paid volunteer time - 16 hours per calendar year
  • Leave of absence programs - including paid parental leave, paid short- and long-term disability, and Family and Medical Leave (FMLA)
  • Business Resource Groups (BRGs) - internal networks that rally around common interest, experiences and identities such as race, ethnicity, gender, ability, military status and sexual orientation. BRGs play a vital role in educating and engaging our people and advancing our business priorities.

Base Salary Range

$210,800.00 - $305,675.00

The salary range above shows the typical minimum to maximum base salary range for this position in the location listed. Non-sales positions have the opportunity to participate in a bonus program. Sales positions are eligible for sales incentives, and in some instances a bonus plan, whereby total compensation may far exceed base salary depending on individual performance. Actual compensation offered may vary from posted hiring range based upon geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer.

Equal opportunity employer * Drug-free workplace

We are an equal opportunity employer with a commitment to diversity. All individuals, regardless of personal characteristics, are encouraged to apply. All qualified applicants will receive consideration for employment without regard to age (40 and over), race, color, national origin, ancestry, sex, sexual orientation, gender, gender identity, gender expression, marital status, pregnancy, religion, physical or mental disability, military or veteran status, genetic information, or any other status protected by applicable state or local law.

***For remote and hybrid positions you will be required to provide reliable high-speed internet with a wired connection as well as a place in your home to work with limited disruption. You must have reliable connectivity from an internet service provider that is fiber, cable or DSL internet. Other necessary computer equipment, will be provided. You may be required to work in the office if you do not have an adequate home work environment and the required internet connection.***

Job Posting End Date at 12:01 am on:

05-20-2025

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