Senior Associate II, Investments

About You and the Role

Investments Senior Associate will support and work together with regional CIO, Investments and the Investments team to:
1) Monitor the existing investment portfolios to ensure that portfolio allocation is in line with strategic and tactical allocation preferences while operating within the constraints of a regulated insurance company,
2) Construct optimal investment portfolios and return streams as an input to the M&A pricing process,
3) Generate new strategic and tactical ideas for implementation in the portfolio,
4) Diligence new asset managers and monitor existing asset managers,
5) Provide reporting for local and group Board of Directors, investment committees, rating agencies and regulators

Partner with Regional CIO and the Investments team regarding the following accountabilities:

• Portfolio Construction for M&A Targets – The M&A team will provide the regional teams with a liability cash flow stream and set of regulatory and cedant-imposed constraints. Utilize the information to partner to provide the M&A team with analysis for internal deal from review of the existing target acquisition portfolio, suggested portfolio repositioning, and portfolio yields. Senior Associates are expected to have the ability to review and challenge M&A portfolio construction with insightful inputs.
• Strategic Asset Allocation and ALM – Develop and maintain strategic asset allocation for existing portfolios by evaluating various inputs including existing holdings, relative value between asset classes, cash flow forecast from Treasury, dividend forecast from Capital Planning, liability profile from Actuarial, and capital market inputs.
• Budgeting & NII Projections – Partner with regional CIO monitoring actuals vs. budget throughout the year and providing attribution by asset class. Work with FP&A to develop projections using existing holdings, maturities, projected purchases, and sales, budgeted dividends, claim payments, and commutations.
• New Idea Generation and Proposal Development – Actively evaluate current market conditions and develop investment recommendations. Develop proposal with inputs from members of the Bermuda region portfolio management team. Collaborate with Tax, Accounting, Legal, Actuarial, Capital Management, Treasury, and other groups on new investment strategies. Consider portfolio overlay strategies that complement the existing investment strategies in place. Recommend new ideas that will increase returns and/or reduce volatility.
• External Manager Diligence – Play a key part in managing initial and ongoing relationships with core fixed income and specialty asset external managers, including public equity, private equity, real estate, bank loans, high yield, and other asset classes. Participate in performing diligence on new managers being considered.
• External Manager Performance Measurement and Monitoring – Help establish benchmarks and review manager performance vs. benchmarks, providing attribution. Provide ongoing quantitative and qualitative assessment of managers.
• Regional Board of Directors/Investment Committee Presentations – Prepare quarterly investment performance presentations for Regional Investment Committee and/or Board of Directors. On a tri‑quarterly basis, provide monthly investment performance updates. This includes providing market commentary and portfolio attribution.
• Compliance – Monitor compliance with internal and external portfolio constraints.
• Cash Management – Work with regional portfolio management team to ensure excess investable cash balance is minimized. Ensure that quarterly dividends are funded through interest income and liquidation of assets. Communicate with Treasury and help to fund any cash needs by…