Director​/Sr. Director, Structured Credit

Director/Sr. Director, Structured Credit

Come join one of America’s fastest-growing insurance companies. Since 1848, National Life Group has aimed to keep our promises, providing families with stability in good times and in bad. Throughout that history, we have provided peace of mind to those families as they plan their futures.

Our mission extends beyond the insurance and annuities policies that we offer. We strive to make the world a better place through our grants from our charitable foundation, paid volunteer time for our employees, environmentally sustainable and healthy workplaces, and events that promote the work of nonprofits in our own backyard.

We foster a collaborative environment with opportunities for growth and encourage our associates to live our values:
Do good. Be good. Make good.

NLG Capital, the investment management company of NLG, manages approximately $40+ billion in AUM. Our purpose is simple – to allow NLG to keep its promises. How we do this – an obsessive focus on delivering investment results. We drive results through a rigorous but collaborative investment process, and we hold ourselves to the highest of standards, both as investors and teammates.

While our process is based on rigor, our culture is based on our guiding principles:
Meritocracy, Uncompromising Transparency, Intellectual Honesty, Performance Driven Learning, Relentless Pursuit of Excellence. These principles serve as the foundation of our team. They govern the way we conduct ourselves, how we interact with teammates and how we approach every investment decision. We act with the integrity and humility required to make the investment decision that is right for the firm, and ultimately our policyholders.

Our culture has been deliberately built to foster curiosity and provide opportunities to learn and grow, both as people and investors. The flat and collaborative nature of our team promotes an atmosphere where the best ideas are continually expressed and rewarded. Our pursuit of excellence is unwavering.

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

NLG Capital is seeking an accomplished Director, Structured Credit Analyst focused on evaluating and underwriting investments in BSL and Middle Market CLOs. The successful candidate will have experience operating across the capital structure including mezzanine and equity tranche investing and will have demonstrated experience maintaining rigorous manager due diligence, underwriting, cashflow modeling, and monitoring processes. The candidate should have strong technical skills, be able to translate complex risk analysis into investment decisions.

Experience in a buy-side role preferred.

Responsibilities

• Perform in-depth underwriting and analysis across both Broadly Syndicated Loan (BSL) and Middle Market CLO managers
• Develop and maintain a comprehensive credit and manager evaluation framework to assess CLO manager strategy, historical performance, risk profile, portfolio construction, and trading capabilities
• Conduct detailed transaction due diligence, including review of deal structure, collateral composition, documentation, cash flow modeling (Intex), and scenario-based stress testing
• Maintain and articulate market views on CLO relative value, structural risk, and capital stack positioning, identifying opportunities consistent with NLG’s investment objectives
• Establish and continuously refine underwriting guidelines; engage actively with Portfolio Management and the Investment Committee to communicate market insights.
• Design, implement, and enhance underwriting and governance processes, including quantitative and qualitative deal and manager scoring frameworks, ranking systems, and ongoing risk / watchlist management
• Perform ongoing surveillance and performance monitoring of existing investments, identifying early warning indicators and recommending appropriate repositioning strategies
• Engage with industry participants, including CLO managers, arrangers, and rating agencies; attend conferences and issuer meetings to stay current on market developments and regulatory trends.
• Develop and…