VP I, Investments

Overview

This role supports the Regional CIO by assisting with regional investment oversight, portfolio construction, and the development of strategic and tactical investment ideas. The portfolio oversight includes regulated insurance-company constraints, strategic and tactical asset allocation preferences, and inputs to the M&A pricing process.

The organization’s assets under management total approximately $20bn across three primary regions: US, UK, and Bermuda.

The role may be based in the NY Metro area; East Coast candidates interested in working remotely are also considered.

Responsibilities

Portfolio Construction for M&A Targets

Assist the Regional CIO by providing analysis to support internal deal pricing in collaboration with the M&A team. The M&A team provides a liability cash flow stream and regulatory/cedant-imposed constraints. Key deliverables include:

• Review of the existing target acquisition portfolio
• Suggested portfolio repositioning
• Portfolio yields

Strategic Asset Allocation and ALM

Develop and maintain strategic asset allocation for existing portfolios by evaluating inputs such as:

• Existing holdings
• Relative value between asset classes
• Cash flow forecast from Treasury
• Dividend forecast from Capital Planning
• Liability profile from Actuarial
• Capital market inputs

New Idea Generation and Proposal Development

• Evaluate current market conditions and develop strategic and tactical asset allocation recommendations for presentation to the group and local investment committees
• Develop well-thought-out proposals (a key requirement)
• Collaborate with Tax, Accounting, Legal, Regulatory, Actuarial, Capital Management, Treasury, and other groups to develop new investment strategies

New and Existing External Manager Diligence and Performance Measurement

• Manage initial and ongoing relationships with core fixed income and specialty external managers across asset classes, including public equity, private equity, real estate, bank loans, high yield, emerging market debt, and other asset classes
• Conduct diligence on new managers and co-investments under consideration

Secondary Responsibilities

• Reporting: Prepare regional BoD/Investment Committee presentations
• Compliance: Monitor compliance with internal and external portfolio constraints
• Cash Management: Minimize excess investable cash balances; ensure quarterly dividends are funded through interest income and liquidation of assets
• Budgeting & NII Projections: Work with FP&A to develop NII projections using existing holdings, maturities, projected purchases and sales, and budgeted dividends, claim payments, and commutations; monitor actual return vs. budget throughout the year and provide attribution by asset class

Additional duties may be assigned from time to time as required.

Requirements

• 8+ years of minimum experience in an insurance company asset management
• Thorough understanding of investment management, strategic asset allocation, tactical asset allocation, and capital markets
• Understanding of the portfolio construction process and the information required to make asset allocation decisions
• Experience working with external asset managers (or internal portfolio managers) in developing benchmarks, portfolios, and efficient frontiers
• Undergraduate degree required; educational concentration in finance, economics, statistics, or a related field preferred
• Strong quantitative skills necessary for portfolio construction and risk measurement
• Strong verbal communication skills for investment committee, BoD, regulatory, and rating agency presentations and communications
• Strong written communication skills for proposal development and email communication with teams located in different time zones
• Ability to prioritize commitments and manage time effectively
• Proficiency with Excel and PowerPoint is critical for developing investment analytics and proposals
• Strong collaboration skills across functional areas and executive management to ensure consistency and efficiency
• Ability to handle conflict of opinions and drive effective decision-making
• Financial data systems experience preferred, including Bloomberg, and experience working with large data sets as part of financial or statistical analysis

Preferred Qualifications

• CFA designation
• Knowledge of SQL, VBA, Python, and Microsoft PowerBI
• Experience and understanding of core fixed income asset classes as well as non-core asset classes, including public equity, private equity, real estate, hedge funds, infrastructure, CLO equity, high yield, bank loans, emerging market debt, and other investments
• Understanding of capital markets and insurance capital regimes

Compensation & Benefits

Base Salary

• Target base salary pay range: $185,000–$200,000
• The actual salary offered will depend on applicable market data for hiring location and relevant candidate knowledge, skills/experience.
• This salary range does not include applicable discretionary incentives.

Benefits

• Medical, Dental, and Vision healthcare for single and family coverage
• Virtual access to board-certified doctors and pediatricians for urgent care, 24/7
• Health Savings Account (HSA) or Flexible Spending Account (FSA)
• Dependent Care FSA for daycare expenses
• Employee Assistance Program (EAP) for health and well-being
• Optional Pet & Home/Auto Insurance
• Wellness Reimbursement program (up to $600 annual reimbursement for wellness-related expenses such as gym memberships and massage)
• 401K retirement plan with company match up to 6% of employee contribution
• One paid annual volunteer day

Location

• Preference for candidates from the NY Metro area
• Open to East Coast candidates interested in remote work