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Protective has helped people achieve protection and security in their lives for over 117 years.
The Role
The Derivative Analyst supports portfolio and risk management by building and maintaining hedging models, collaborating with teams, and analyzing data for insurance products.
Summary Generated by Built In
The work we do has an impact on millions of lives, and you can be a part of it.
We help protect our customers against life’s uncertainties. Regardless of where you work within the company, you’ll be helping provide protection and peace of mind when our customers need it most.
Key Responsibilities
- Support derivative hedging programs across variable annuity (VA), fixed indexed annuity (FIA), and other insurance products.
- Develop expertise in derivatives capital markets, including the design and execution of hedging strategies.
- Build, modify, and maintain models and systems used for portfolio management and risk management.
- Collaborate with Derivatives, IT, Risk, and Middle Office teams to ensure effective system design and operation.
- Perform ad hoc research and analysis in support of hedging and portfolio decisions.
- Provide data, analysis, and reporting to internal stakeholders as needed.
- Interpret internal and external issues and recommend solutions or best practices.
- Communicate analysis and results to senior staff and leadership.
- Participate in training, professional development, and ongoing learning related to derivatives, capital markets, and technology.
- Contribute to project-based work supporting enhancements to models, systems, and processes.
Core Competencies
- Derivatives & Capital Markets Analysis
- Foundational understanding of derivatives, capital markets, and hedging strategies
- Ability to support the design, execution, and monitoring of derivative hedging programs
- Understanding of the interaction between market risk, insurance liabilities, and portfolio outcomes
- Financial Modeling & Quantitative Analytics
- Experience working with financial, quantitative, or actuarial models
- Ability to run, interpret, and troubleshoot models supporting portfolio and risk management
- Experience performing scenario, sensitivity, and ad hoc analysis to support decision-making
- Portfolio & Hedging Program Support
- Support ongoing hedging programs across multiple products, including VA and FIA
- Ability to provide timely data, analysis, and reporting to Risk, Middle Office, and other partners
- Comfort supporting day-to-day portfolio management activities and special projects
- Technology, Tools & Systems
- Experience working within a modeling or analytics technology stack
- Coding experience with Python and SQL preferred; exposure to C++, C#, R, or similar languages a plus
- Ability to maintain and enhance systems used for portfolio management and hedging operations
- Communication & Collaboration
- Clear written and verbal communication skills
- Ability to communicate complex analytical results to senior leaders and key stakeholders
- Comfortable collaborating across teams including Derivatives, IT, Risk, and Middle Office
- Professional Effectiveness
- Strong analytical thinking, attention to detail, and sound judgment
- Ability to manage shifting priorities in a fast-paced, team-oriented environment
- Intellectual curiosity, willingness to learn, and proactive approach to problem solving
Minimum Qualifications:
- Bachelor’s degree in a quantitative or technical discipline such as finance, mathematics, engineering, actuarial science, computer science, or a related field.
- 4 years cumulative work experience, including relevant internships.
- Experience with analytics or modeling, preferably in a financial, derivatives, quantitative, or actuarial context.
- Demonstrated interest in capital markets and risk management.
- Strong communication skills and a collaborative working style.
- Ability to work in an in-office environment.
Preferred Qualifications
- Advanced degree (MS, MBA, etc).
- Experience with asset management, capital markets, or derivatives modeling.
- Actuarial science background or actuarial designation.
- Understanding of fixed income securities, derivatives, insurance liabilities, and risk management.
- Coding experience, preferably in Python and SQL; experience with C++, C#, R, or similar languages is highly preferred.
- Experience working with or supporting senior leadership.
- Interest in progressing toward portfolio ownership and broader investment responsibility over time.
Employee Benefits:
We aim to protect the wellbeing of our employees and their families with a broad benefits offering. In addition to offering comprehensive health, dental and vision insurance, we support emotional wellbeing through mental health benefits and an employee assistance program. Work/life balance is important and Protective offers a variety of paid time away benefits (e.g., paid time off, paid parental leave, short-term disability, and a cultural observance day). The financial health of our employees is just as important as physical and emotional health. Some of the financial wellbeing benefits include contributions to healthcare accounts, a pension plan, and a 401(k) plan with Company matching. All employees are encouraged to protect their overall wellbeing by engaging in ProHealth Rewards, Protective’s platform to improve wellbeing while earning cash rewards.
Eligibility for certain benefits may vary by position in accordance with the terms of the Company’s benefit plans.
Accommodations for Applicants with a Disability:
If you require an accommodation to complete the application and recruitment process due to a disability, please email [email protected]. This information will be held in confidence and used only to determine an appropriate accommodation for the application and recruitment process.
Please note that the above email is solely for individuals with disabilities requesting an accommodation. General employment questions should not be sent through this process.
We are proud to be an equal opportunity employer committed to being inclusive and attracting, retaining, and growing an inclusive workforce.
Skills Required
- Bachelor's degree in finance, mathematics, engineering, actuarial science, computer science, or a related field.
- Experience with analytics or modeling in a financial, derivatives, quantitative, or actuarial context.
- Strong communication skills and a collaborative working style.
Protective Life Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about Protective Life and has not been reviewed or approved by Protective Life.
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Retirement Support — A pension plan alongside a 401(k) with employer match is repeatedly highlighted and considered a standout feature. Feedback suggests these offerings provide strong long‑term financial security.
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Healthcare Strength — Medical, dental, vision, and prescription coverage are complemented by HSA/FSA options with company contributions and wellness incentives. Feedback suggests the breadth of health benefits is comprehensive.
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Leave & Time Off Breadth — Paid time off and holidays are frequently cited as positives, with parental leave and adoption assistance available. Feedback suggests time‑off policies support work‑life balance.
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The Company
What We Do
Protective Life Corporation (Protective) provides financial services through the production, distribution and administration of insurance and investment products throughout the United States. Protective traces its roots to its flagship company founded in 1907, Protective Life Insurance Company. Throughout its more than 110-year history, Protective’s growth and success can be largely attributed to its ongoing commitment to serving people and doing the right thing — for its employees, distributors and, most importantly, its customers. Protective’s home office is located in Birmingham, Alabama, and its 3,000+ employees work across the United States. As of June 30, 2020, Protective had assets of approximately $123 billion. Protective Life Corporation is a wholly owned subsidiary of Dai-ichi Life Holdings,
