Head of Investment Portfolio Risk Strategy

Job Family

Treasury, Capital Management and Asset Liability Management

What We Do

Transamerica is organized into three distinct businesses. These include 1) World Financial Group, including Transamerica Financial Advisors, 2) Protection Solutions and Savings & Investments, comprised of life insurance, annuities, employee benefits, retirement plans, and Transamerica Investment Solutions, and 3) Financial Assets, which includes legacy blocks of long term care, universal life, and variable and fixed annuities.

These are supported by Transamerica Corporate, which includes Finance, People and Places, General Counsel, Risk, Internal Audit, Strategy and Development, and Corporate Affairs, which covers Communications, Brand, and Government and Policy Affairs.

Transamerica employs nearly 7,000 people. It's part of Aegon, an integrated, diversified, international financial services group serving approximately 23.9 million customers worldwide. * For more information, visit transamerica.com.

Job Description Summary

The Head of Investment Portfolio Risk Strategy will be responsible for implementation and oversight of the portfolio risk framework within the Chief Investment Office, including development and maintenance of the General Account portfolio Watch List framework, and the development and oversight of risk surveillance tools and analytics for monitoring investment risk across the General Account. The Head of Investment Portfolio Risk Strategy will also have responsibility for overseeing investment-related rating agency and regulatory developments and directing the CIO's strategies to address these developments.

Responsibilities

• Lead the CIO Portfolio Risk Framework: Responsible for the design, implementation, and ongoing enhancement of the investment risk framework governing the General Account, including risk appetite, escalation thresholds, governance standards, and management reporting.
• Own the General Account Watch List Framework: Develop and oversee a consistent Watch List process for identifying, assessing, escalating, and monitoring investments experiencing credit deterioration, structural concerns, performance weakness, or heightened regulatory or capital risk.
• Develop Portfolio Risk Surveillance Capabilities: Lead the development of surveillance tools, dashboards, analytics, and early-warning indicators to identify emerging concentrations, credit deterioration, market risks, liquidity concerns, and other portfolio vulnerabilities.
• Provide Senior-Level Portfolio Risk Oversight: Deliver independent assessment of portfolio risks across all General Account asset classes, with particular focus on concentrations and emerging risks.
• Lead Investment Regulatory and Rating Agency Surveillance: Monitor and assess investment-related developments from the NAIC, state insurance regulators, and other relevant regulatory bodies as well as the NRSRO's, including changes affecting RBC, investment classifications, structured securities, private ratings, affiliated investments, and other capital or admissibility considerations. Assess implications for the General Account and coordinate the CIO office strategic response.
• Establish Risk Governance and Escalation Standards: Define risk limits, monitoring standards, escalation protocols, and management reporting processes, ensuring material portfolio risks are identified and communicated to appropriate investment, risk, and executive governance forums.
• Partner across Investment, Risk, Finance and Regulatory Functions: Serve as a senior liaison across Portfolio Management, Investment Risk, Finance, Actuarial, Legal, Compliance, and Regulatory Affairs to ensure an integrated approach to investment risk and regulatory developments.
• Advise CIO and Senior Leadership on emerging investment risks: Provide executive-level analysis and recommendations on emerging portfolio risks, regulatory developments, rating-agency concerns, and industry trends, including preparation of materials for senior management and other governance bodies.

Qualifications

• Ten years of relevant and progressive quantitative experience, including management responsibilities
• Front office experience at a bank, hedge fund, asset management firm, or insurance company
• Advanced knowledge of Excel, VBA, SQL
• Good understanding of risk methodologies used in banking or insurance industry
• Good understanding of actuarial and accounting
• Ability to extract and apply ideas from academic publications
• Communication skills to convey complex information verbally and in writing at the appropriate level of Interpersonal detail for each audience
• People skills to manage/lead projects and the ability to inspire the team and provide insights to ALM colleagues.

Preferred Qualifications

• Graduate degree in finance, economics, actuarial science, or related field
• Expertise across fixed income, structured products, and private credit, including risk/return drivers and portfolio integration
• Strong command of investment risk modeling including stress testing
• Deep understanding of life insurance liabilities, capital frameworks (RBC/Bermuda), and rating-agency methodologies
• Executive-level communication skills; proven ability to present to boards, management committees, and senior leadership
• Proven ability to manage complex workflows, influence senior stakeholders, and drive execution in a regulated environment

Working Conditions

• Hybrid Office Environment
• Occasional Travel <10%

Compensation

The Salary for this position generally ranges between $250,000 - $275,000 annually. Please note that the salary range is a good faith estimate for this position and actual starting pay is determined by several factors including qualifications, experience, geography, work location designation (in-office, hybrid, remote) and operational needs. Salary may vary above and below the stated amounts, as permitted by applicable law.

Additionally, this position is typically eligible for an Annual Bonus based on the Company Bonus Plan/Individual Performance and is at the Company's discretion.

Applicants must possess legal authorization to work for our company in the U.S. without the need for immigration, sponsorship or otherwise serving as an employer of record for immigration employment purposes. At this time, this role is not eligible for immigration-related employment authorization sponsorship.

This is a hybrid position requiring three days in office per week in one of our hub locations. Relocation assistance will not be provided for this position.

What We Offer

For eligible employees, we offer a comprehensive benefits package designed to support both the personal and financial well-being of our employees.

Compensation Benefits

• Competitive Pay
• Bonus for Eligible Employees

Benefits Package

• Pension Plan
• 401k Match
• Employee Stock Purchase Plan
• Tuition Reimbursement
• Disability Insurance
• Medical Insurance
• Dental Insurance
• Vision Insurance
• Employee Discounts
• Career Training & Development Opportunities

Health and Work/Life Balance Benefits

• Paid Time Off starting at 160 hours annually for employees in their first year of service.
• Ten (10) paid holidays per year (typically mirroring the New York Stock Exchange (NYSE) holidays).
• Be Well Company holistic wellness program, which includes Wellness Coaching and Reward Dollars
• Parental Leave - fifteen (15) days of paid parental leave per calendar year to eligible employees with at least one year of service at the time of birth, placement of an adopted child, or placement of a foster care child.
• Adoption Assistance
• Employee Assistance Program
• Back-Up Care Program
• PTO for Volunteer Hours
• Employee Matching Gifts Program
• Employee Resource Groups
• Inclusion and Diversity Programs
• Employee Recognition Program
• Referral Bonus Programs

Inclusion & Diversity

We believe our commitment to diversity and inclusion creates a work environment filled with exceptional individuals. We're thrilled to have been recognized for our efforts through the Human Rights Campaign Corporate Equality Index, Dave Thomas Adoption Friendly Advocate, and several Seramount lists, including the Inclusion Index, 100 Best Companies for Working Parents, Best Companies for Dads, and Top 75 Companies for Executive Women.

• To foster a culture of inclusivity throughout our workforce, workplace, and marketplace, Transamerica offers a wide range of diversity and inclusion programs.
• This includes our company-sponsored, employee-driven Employee Resource Groups (ERGs), which are formed around a shared interest or a common characteristic of diversity.
• ERGs are open to all employees.
• They provide a supportive environment to help us better appreciate our similarities and differences and understand how they benefit us all.

Giving Back

We believe our responsibilities extend beyond our corporate walls. That's why we created the Aegon Transamerica Foundation in 1994. Through a mix of financial grants and the volunteer efforts of our employees, the foundation supports nonprofit organizations focused on the things that matter most to our people in the communities where we live and work.

Transamerica's Parent Company

Aegon acquired the Transamerica business in 1999. Since its start in 1844, Aegon has grown into an international company serving more than 23.9 million people across the globe.* It offers investment, protection, and retirement solutions, always with a clear purpose: Helping people live their best lives. As a leading global investor and employer, the company seeks to have a positive impact by addressing critical environmental and societal issues, with a focus on climate change and inclusion and diversity.

• As of December 31, 2023