Credit & Equity CLO-Intermediate Portfolio Manager

  • Competitive
  • Chicago, IL, USA Chicago IL US
  • Permanent, Full time
  • Allstate Insurance
  • 15 May 18 2018-05-15

Where good people build rewarding careers. Think that working in the insurance field can’t be exciting, rewarding and challenging? Think again. You’ll help us reinvent protection and retirement to improve customers’ lives. We’ll help you make an impact with our training and mentoring offerings. Here, you’ll have the opportunity to expand and apply your skills in ways you never thought possible. And you’ll have fun doing it. Join a company of individuals with hopes, plans and passions, all using and developing our talents for good, at work and in life.

 

Job Description

Allstate Investments Public Asset Group is seeking an Intermediate Portfolio Manager to be part of a team that manages our Bank Loan and CLO portfolios.

As part of Allstate Investments’ Below Investment Grade (BIG) activities, we invest in the debt of BIG-rated companies in the broadly syndicated bank loan and high yield bond markets for several mandates.  In addition, we are an active participant in the Collateralized Loan Obligation (CLO) market.  Under the AIMCO name, we manage 4 CLOs ($1.9B total AUM) and are actively working to grow this business.  We also invest in debt and equity tranches of CLOs managed by 3rd parties ($0.5B).

This job is an important part of the Below Investment Grade team given our desire to grow our CLO management business.  The new hire will work, alongside the current bank loan PMs, as part of a team charged with managing existing CLOs and issuing new structures.  Specifically, this can involve the design and analysis of prospective collateral portfolios, review and negotiation of deal structures, and management of investor relationships.  This job also calls for the new hire to assist in the portfolio management of a portfolio of 3rd party CLO tranches.  This includes making buy-sell-hold recommendations, serving as a primary analyst on new and existing deals, and serving as point of contact with the sell-side.  Our process is very team-oriented, so the ability to work well within the group is critical.  The ultimate goal of the research and portfolio management functions is to deliver the best possible results for our clients.  This job involves working closely with the research analysts and portfolio managers, developing investment themes, credit analysis and relative value recommendations.

 

Key Responsibilities

The Intermediate Portfolio Manager will be expected to focus on the following:

  • Work with the bank loan PMs to manage existing and new CLO structures, including portfolio modeling, documentation review and market analysis.
  • Gather, track and analyze information used to support the growth of the CLO platform.
  • Assist in the management of a portfolio of CLO tranches while serving as primary analyst, making buy/sell/hold recommendations based on various factors such as cash flow analyses, relative value, and portfolio risk/return mandates.
  • Monitor primary and secondary CLO markets, including interfacing with sell side contacts on current and prospective investment opportunities.
  • Opine on future return profile for asset class under various macroeconomic scenarios.
  • Contributing to the improvement of the overall investment process by continually exploring new ideas, processes and technologies that will benefit the group.
  • Provide support for internal and external communications on an as-needed basis.

 

Job Qualifications

Experience

  • Five to seven years of investment experience in the CLO market, with a focus on trading and/or structuring transactions

Skills Required

  • Strong verbal and written communication skills.
  • Solid understanding of the capital markets, quantitative methods, finance, economics and market cycles
  • Strong working knowledge of Intex system to assess CLO deals
  • Strong interpersonal skills and willingness to be a reliable team player, to build trust and confidence through collaborations with a wide range of internal and external colleagues.
  • Ability to work efficiently, organize and prioritize assignments
  • Ability to work well with internal and external contacts
  • Strong computer skills, including Microsoft Office Products and Bloomberg.  Programming and coding skills a plus.

EDUCATIONAL BACKGROUND:

  • A bachelor’s degree is required; business related studies preferred.  MBA and/or CFA a plus.

 

The candidate(s) offered this position will be required to submit to a background investigation, which includes a drug screen.

Good Work. Good Life. Good Hands®.

As a Fortune 100 company and industry leader, we provide a competitive salary – but that’s just the beginning. Our Total Rewards package also offers benefits like tuition assistance, medical and dental insurance, as well as a robust pension and 401(k). Plus, you’ll have access to a wide variety of programs to help you balance your work and personal life -- including a generous paid time off policy.

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Allstate generally does not sponsor individuals for employment-based visas for this position.

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