What are the responsibilities and job description for the Director - ISD, Spread Lending position at Northwestern Mutual?
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 (NM) with over $300 billion in assets under management. Northwestern Mutual’s spread lending business is managed within NMIMC’s Investment Strategy Department (ISD). The business has grown to nearly $14 billion since establishment in 2020. Spread lending finances 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 be a key leader on ISD’s strategic asset allocation and spread lending team (SAA & SL Team).
About the Job: This role will be responsible for managing Northwestern Mutual’s spread lending business, overseen by and alongside the SAA & SL Team lead. This includes developing and executing spread lending strategy, operations, and investor relations/marketing. The Director will oversee 2 direct reports.
What You’ll Do
Relevant Technical Skills:
Asset Allocation: 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.
Cross Functional Partnering & Planning: 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.
Decision Making: Makes timely, data-driven decisions by understanding the probability of success, identifying risks, gathering business requirements, and developing value statements.
Financial Market Monitoring: 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.
Industry Knowledge: Demonstrates extensive knowledge of common practices, regulatory considerations, market trends and the competitive landscape within a particular industry / sector to better understand and address unique client requirements, challenges, and context.
Risk Management: Identifies risks and conducts risk analysis, prioritizes risks based on level of severity, ensures appropriate reporting, monitoring and control of risks. Drives recommendations and consulting to work towards a resolution. Provides transparency around risks and communicates status and outcomes to appropriate stakeholders.
Compensation Range
We believe in fairness and transparency. It’s why we share the salary range for most of our roles. However, final salaries are based on a number of factors, including the skills and experience of the candidate; the current market; location of the candidate; and other factors uncovered in the hiring process. The standard pay structure is listed.
Grow your career with a best-in-class company that puts our clients' interests at the center of all we do. Get started now!
Northwestern Mutual is an equal opportunity employer who welcomes and encourages diversity in the workforce. We are committed to creating and maintaining an environment in which each employee can contribute creative ideas, seek challenges, assume leadership and continue to focus on meeting and exceeding business and personal objectives.
If you work or would be working in California, Colorado, New York City, Washington or outside of a Corporate location, please click here for additional information pertaining to compensation and benefits.
Skills
Portfolio Management (NM) - Expert, Risk Management (NM) - Expert, Risk Evaluation (NM) - Expert, Storytelling through Data (NM) - Expert, Talent Development & Planning (NM) - Beginner, Strategic Vision & Planning (NM) - Beginner, Economic Acumen (NM) - Expert, Cross Functional Partnering & Planning (NM) - Expert, Financial Acumen (NM) - Expert, Interpersonal Savvy (NM) - Expert, Asset Allocation (NM) - Beginner, Advanced Analytics (NM) - Expert, Decision Making (NM) - Expert, Compliance (NM) - Expert, Accountability (NM) - Intermediate, Attention to Detail (NM) - Expert, Adaptive Communication (NM) - Expert, Industry Knowledge (NM) - Expert, Research Communication (NM) - Expert, Financial Market Monitoring (NM) - Expert, Business Influence (NM) - Beginner, Consulting (NM) - Expert, Investment Research (NM) - Expert
FIND YOUR FUTURE
We’re excited about the potential people bring to Northwestern Mutual. You can grow your career here while enjoying first-class perks, benefits, and our commitment to a culture of belonging.
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 (NM) with over $300 billion in assets under management. Northwestern Mutual’s spread lending business is managed within NMIMC’s Investment Strategy Department (ISD). The business has grown to nearly $14 billion since establishment in 2020. Spread lending finances 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 be a key leader on ISD’s strategic asset allocation and spread lending team (SAA & SL Team).
About the Job: This role will be responsible for managing Northwestern Mutual’s spread lending business, overseen by and alongside the SAA & SL Team lead. This includes developing and executing spread lending strategy, operations, and investor relations/marketing. The Director will oversee 2 direct reports.
What You’ll Do
- 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
- Bank and investor relations – manage and enhance investment bank relationships, in-person investor marketing across US 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
- Internal and external spread lending communications and reporting
- Maintain strong working relationships across the department/function/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.
- Thinks with an enterprise mindset.
Relevant Technical Skills:
- MS Office, Excel, Power BI
- Bloomberg, Aladdin
- Snowflake
- Actuarial or ALM Modeling Software (MG-ALFA, Prophet, GGY Axis, etc.)
Asset Allocation: 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.
Cross Functional Partnering & Planning: 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.
Decision Making: Makes timely, data-driven decisions by understanding the probability of success, identifying risks, gathering business requirements, and developing value statements.
Financial Market Monitoring: 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.
Industry Knowledge: Demonstrates extensive knowledge of common practices, regulatory considerations, market trends and the competitive landscape within a particular industry / sector to better understand and address unique client requirements, challenges, and context.
Risk Management: Identifies risks and conducts risk analysis, prioritizes risks based on level of severity, ensures appropriate reporting, monitoring and control of risks. Drives recommendations and consulting to work towards a resolution. Provides transparency around risks and communicates status and outcomes to appropriate stakeholders.
Compensation Range
We believe in fairness and transparency. It’s why we share the salary range for most of our roles. However, final salaries are based on a number of factors, including the skills and experience of the candidate; the current market; location of the candidate; and other factors uncovered in the hiring process. The standard pay structure is listed.
Grow your career with a best-in-class company that puts our clients' interests at the center of all we do. Get started now!
Northwestern Mutual is an equal opportunity employer who welcomes and encourages diversity in the workforce. We are committed to creating and maintaining an environment in which each employee can contribute creative ideas, seek challenges, assume leadership and continue to focus on meeting and exceeding business and personal objectives.
If you work or would be working in California, Colorado, New York City, Washington or outside of a Corporate location, please click here for additional information pertaining to compensation and benefits.
Skills
Portfolio Management (NM) - Expert, Risk Management (NM) - Expert, Risk Evaluation (NM) - Expert, Storytelling through Data (NM) - Expert, Talent Development & Planning (NM) - Beginner, Strategic Vision & Planning (NM) - Beginner, Economic Acumen (NM) - Expert, Cross Functional Partnering & Planning (NM) - Expert, Financial Acumen (NM) - Expert, Interpersonal Savvy (NM) - Expert, Asset Allocation (NM) - Beginner, Advanced Analytics (NM) - Expert, Decision Making (NM) - Expert, Compliance (NM) - Expert, Accountability (NM) - Intermediate, Attention to Detail (NM) - Expert, Adaptive Communication (NM) - Expert, Industry Knowledge (NM) - Expert, Research Communication (NM) - Expert, Financial Market Monitoring (NM) - Expert, Business Influence (NM) - Beginner, Consulting (NM) - Expert, Investment Research (NM) - Expert
FIND YOUR FUTURE
We’re excited about the potential people bring to Northwestern Mutual. You can grow your career here while enjoying first-class perks, benefits, and our commitment to a culture of belonging.
- Flexible work schedules
- Concierge service
- Comprehensive benefits
- Employee resource groups