Portfolio Manager - Structured Assets

As a Portfolio Manager you will contribute to and support the management of the investment strategies and portfolios of Venerable. This includes understanding all aspects of the investment portfolio, analyzing investment strategies, advising and interfacing with external Investment Managers as well as internal Venerable Finance, Risk, Investment Operations, Treasury, and Actuarial teams, and supporting the Head of Investment Management’s direct relationship with senior executives. The incumbent will assume specific portfolio management responsibility for fixed income investments, with an emphasis on structured and securitized asset classes, portfolio construction, credit oversight, liquidity management, and asset-liability management within an insurance company framework.

Specific responsibilities are as follows:

1. Contribute to and lead the management of the investment portfolios of Venerable:

Maintain day-to-day relationships with and provide guidance to external investment managers responsible for Venerable investment portfolios.

Assume portfolio management responsibility and ownership for a segment of the investment portfolio, with a focus on structured and securitized fixed income investments, including ABS, RMBS, CMBS, CLOs, and other structured credit sectors.

Contribute to and lead the development of strategic and tactical asset allocation recommendations supporting Venerable products and liability profiles.

Contribute to and lead the analysis, management, and oversight of fixed income asset classes and holdings, including identification, recommendation, and implementation of investment opportunities.

Perform in-depth credit analysis and surveillance of fixed income and structured asset exposures.

Leverage analytical platforms such as Bloomberg, Intex, Aladdin, and other portfolio analytics tools.

Contribute to and lead Venerable’s liquidity management activities.

Manage compliance with Investment Management Agreements, Investment Guidelines, and Investment Policies.

Interface with Risk, Investment Operations, Treasury, Finance, Actuarial, and Investment Accounting teams.

Interface with Venerable senior management to provide investment analysis and recommendations.

2. Manage and/or lead the Venerable Investment Management team in performing other key Venerable functions:

Maintain a strong understanding of product liability structures, asset-liability management requirements, and legal entity considerations.

Demonstrate understanding of investment income, earnings, capital, and other financial metrics.

Analyze portfolio cash flows, duration, spread risk, liquidity, and ALM considerations.

Report on portfolio performance, investment activity, and risk exposures.

Partner with external investment managers to understand, manage, and monitor risks and opportunities.

Contribute to committee, management, and board reporting.

Provide guidance on portfolio transactions and investment recommendations.

3. Contribute to the partnership with Risk Management to analyze risk, ALM, and hedging strategies.

Evaluate portfolio risk exposures across interest rate, spread, liquidity, and structured credit sectors.

Assess interaction between investment portfolios, liabilities, and enterprise risk objectives.

Participate in analyses supporting hedging strategies and risk mitigation initiatives.

4. Obtain knowledge concerning industry and peer activities and trends relating to insurance investment portfolios.

Monitor developments in structured credit markets, insurance asset management practices, regulatory frameworks, and capital treatment of investments.

Demonstrate understanding of implications for Venerable’s portfolios and business strategy.

Mentor junior investment professionals and contribute to team development.

Key Qualifications:

Bachelor’s degree in Business, Finance, Risk Management, Actuarial Science, Economics, Data Analytics, or related field.

Minimum 7 years of fixed income investment experience.

Strong experience analyzing and managing structured or securitized assets including ABS, RMBS, CMBS, and CLOs.

Demonstrated knowledge of fixed income instruments, credit analysis, portfolio management, derivatives, ALM, insurance regulations, and capital frameworks.

Strong understanding of fixed income markets and risk measures including duration and OAS.

Advanced understanding of structured finance cash flow analysis.

Knowledge of insurance investment portfolio management; variable annuity experience is a plus.

Experience with Bloomberg, Intex, Aladdin, or similar systems.

CFA, progress toward CFA, MBA, or similar designation preferred.

Highly analytical with strong communication and problem-solving skills.

Ability to deliver results under pressure and manage multiple priorities.

Strong collaboration and stakeholder management skills.

Well versed in Microsoft Office applications, particularly Excel and PowerPoint.

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Venerable Values:

Every position at Venerable has responsibility for living out the company's values as described here:

We are Courageous - We think critically, ask "why?" and seek out creative solutions.

We are Curious - We take calculated risks, learn from out failures, and challenge traditional ways of thinking.

We are Connected - We are connected to each other, our customers and our community.

Please note: The use of AI tools (such as ChatGPT or similar platforms) during interviews is not permitted without the prior approval of Venerable, as the use of such tools may interfere with company confidentiality, misrepresent a candidate’s skills and experience or otherwise conflict with Venerable’s hiring policies. If you are selected for an interview and a reasonable accommodation is needed, please notify the Venerable Human Resources recruiter aligned to the open position in which you are interviewing for.

If Venerable, in its sole discretion, determines that AI is being used during an interview without prior approval, Venerable reserves the right to end the interview early and/or disqualify a candidate.