Compensation Program Manager – Asset Management

Please note that we do not offer visa sponsorship for this position.

Role Summary

The Compensation Program Manager – Asset Management is a key role in the National Life People Center and NLG Capital that will help ensure our Compensation policies, programs, and processes are designed, implemented, and executed in line with our Compensation Guiding Principles and reflective of our Compensation Philosophy. 

The associate in this role will work partner with NLG Capital leadership team on a wide range of compensation responsibilities specific to the Asset Management industry including managing incentive plans, providing consultation and support to business leaders on compensation policies and processes, and leading ad-hoc Compensation projects. 

The ideal candidate is a strong compensation professional who is able to easily adapt to changing business needs and make mindful decisions in light of ambiguous circumstances, use effective communication skills to share information and collaborate with People Center and business colleagues, and work independently to take ownership of requests, projects, and processes.

At National Life, we believe our culture is strongest when we connect in person — sharing ideas, collaborating with colleagues, and building relationships that drive innovation.  To support this, the current work schedule for this role includes being on-site Monday through Thursday each week.  These designated on-site days may be adjusted in the future with advance notice.  A remote work arrangement may be considered for qualified candidates.

Essential Duties and Responsibilities

Incentive Compensation Program Management

• Own end-to-end governance and administration of the carried interest plan, including eligibility, allocation modeling, vesting, distributions, clawbacks, documentation, and participant communications.
• Partner with Finance, Legal, Tax, Payroll, and external administrators to ensure all allocations and payouts are accurate, compliant, and audit-ready.
• Maintain and update plan documents, award agreements, and governance materials to reflect evolving business and regulatory requirements.
• Establish and maintain strong internal controls, documentation standards, and risk management practices across all incentive programs.
• Lead administration of asset management incentive programs, including short- and long-term incentives, co-invest arrangements, and deferred compensation plans.
• Ensure accurate eligibility determination, calculations, approvals, funding validation, and payout execution.
• Evaluate and recommend program enhancements to align with business strategy, investment performance objectives, retention priorities, and market competitiveness.

Compensation Strategy and Advisory Support

• Serve as a trusted advisor to Asset Management leadership on compensation strategy, program structure, and individual pay decisions across investment and operational roles.
• Lead market benchmarking and competitive analysis for asset management positions, and monitor industry trends across base salary, incentives, carried interest, co-invest, and deferral programs.
• Translate market data and industry insights into clear, actionable recommendations that support attraction, retention, and long-term business strategy.
• Provide modeling, scenario analysis, and data-driven guidance to inform hiring offers, promotions, retention actions, organizational changes, and fund-related compensation decisions.
• Partner with Talent Acquisition and business leaders to structure competitive, market-aligned offers while ensuring internal equity, fiscal discipline, and governance alignment.

Operational Excellence

• Design and maintain repeatable, well-controlled administration processes for complex incentive vehicles.
• Identify and implement process improvements to enhance accuracy, efficiency, transparency, and stakeholder experience.
• Oversee third-party vendors supporting compensation administration, including establishing requirements, managing service levels, and resolving issues.
• Develop executive-level reporting and dashboards summarizing compensation outcomes, fund performance alignment, carried interest participation, and risk exposure.
• Ensure data integrity and maintain robust records for forecasting and long-term financial planning.
• Develop and maintain job descriptions and role profiles for asset management positions to ensure consistent leveling, compensation alignment, and organizational clarity.
• Support organizational design initiatives by providing compensation impact analysis and cost modeling.

Ad Hoc Projects

• Lead special compensation initiatives, including new fund launches, new incentive vehicle implementation, policy updates, and system enhancements.
• Participate in cross-functional projects impacting compensation design or administration.

All other duties as assigned

Minimum Qualifications

• Twelve (12) years Total Combined post-secondary education and relevant work experience comprised of a Bachelor’s degree and eight (8) or more years of related work experience, or an Advanced degree and five (5) years or more years of related experience, or Twelve (12) or more years total equivalent work experience.
• Demonstrated hands-on experience managing and administering a carried interest plan, including allocation modeling, vesting administration, and distribution calculations.
• Experience within asset management, investment management, private equity, hedge fund, or similar financial services environments.
• Strong quantitative and financial modeling skills with the ability to analyze fund performance metrics and incentive outcomes.
• Experience partnering with senior business leaders and providing consultative compensation guidance.
• Knowledge of governance, regulatory, tax, and compliance considerations related to incentive compensation in asset management.
• Demonstrated ability to design and maintain effective internal controls and audit-ready documentation.
• Strong project management skills with the ability to independently manage multiple priorities and complex timelines.
• Advanced Excel proficiency and comfort working with large, complex data sets.

Preferred Qualifications

• Direct experience supporting an insurance-affiliated asset manager.
• Experience implementing or enhancing carried interest, co-investment, or deferred compensation programs.
• Experience working with compensation systems, equity administration platforms, or specialized incentive tracking tools.
• Strong understanding of partnership structures, fund economics, and waterfall models.
• CCP, PHR, SHRM-SCP, or other related certification

Benefits

• Your benefits start day one and are flexible and customizable to your and your family’s specific needs. Check out the BENEFITS of a Career at National Life!