Director - ISD, Spread Lending

Director - Investment Strategy

Northwestern Mutual Investment Management Company, LLC, located in Milwaukee, WI, is a registered investment adviser and wholly owned subsidiary of the Northwestern Mutual Life Insurance Company. The company manages a spread lending business, focused on financing the purchase of well‑matched investment‑grade fixed‑income assets across multiple funding sources, generating profitability on investment income net of financing cost. The Director will lead the strategic asset allocation and spread lending team (SAA & SL Team).

This role is responsible for managing Northwestern Mutual's spread lending business, overseen by and alongside the SAA & SL Team lead. The Director will develop and execute spread lending strategy, operations, and investor relations/marketing, and will oversee two direct reports.

• Develop, execute, and manage spread lending investing and financing strategy, delivering program and profitability objectives.
• Manage funding agreement backed note (FABN), funding agreement backed commercial paper (FACP), and Federal Home Loan Bank (FHLB) funding programs.
• Enhance investment bank relationships and conduct in‑person investor marketing across U.S. and international cities multiple times annually.
• Execute primary bond market FABN issuance and enterprise coordination.
• Achieve ALM and risk management objectives.
• Develop and grow direct reports.
• Oversee and manage team reports, trackers, weekly pricing, and business projections.
• Oversee and manage team operations including daily cash management, FACP issuance, FABN maturity, and investment deployments.
• Produce internal and external spread lending communications and reporting.
• Maintain strong working relationships across the department, function, and enterprise.

• Bachelor's or Master's degree in finance, economics, actuarial science, accounting, computer science/engineering, or related field (or equivalent work experience).
• A professional designation (CFA, ASA, FSA, CPA) is required with a bachelor's degree.
• Multiple years of related and relevant work experience.
• Strong work ethic and communication skills.
• Strong understanding of fixed‑income assets, derivatives, ALM, and risk metrics.
• Understanding of the life insurance and annuity market, FABN market.
• Familiarity with statutory financials, life insurer regulations, and risk‑based capital.
• Intellectual curiosity in insurance, investments, and financial markets.
• Enterprise‑mindset thinking.

• MS Office, Excel, Power BI
• Bloomberg, Aladdin
• Snowflake
• Actuarial or ALM modeling software (MG‑ALFA, Prophet, GGY Axis, etc.)

Holds self and direct reports accountable for measurable, high‑quality, timely, and cost‑effective results, delivery, and execution. Determines objectives, sets priorities, delegates work to direct reports, and accepts responsibility for mistakes.

Constructs diversified public fixed‑income portfolios aligning with the goals, risk tolerances, financial objectives, and investment horizon of the client by allocating across multiple asset classes, sectors, sub‑sectors, and, for structured products, deal types, subject to internally and externally imposed investment constraints.

Facilitates collaboration, communication, coordination, and planning with individuals and teams from different functions within the organization, and who have different areas of expertise, to achieve common goals.

Makes timely, data‑driven decisions by understanding the probability of success, identifying risks, gathering business requirements, and developing value statements.

Consistently tracks and analyzes financial market data and news, evaluates trends and events that may impact investment portfolios or financial decisions, and makes informed decisions based on this information. Stays up to date on economic indicators, market news, and global events, and understands how they relate to investment opportunities and risks.

Demonstrates extensive knowledge of common practices, regulatory…