What are the responsibilities and job description for the Investment Banking Associate - Insurance position at Societe Generale?
Reference 260005JY
Responsibilities
Description of the Business Line or Department
GLBA is the Investment Banking division of SGCIB. It offers a global advisory approach focused on strategic dialogue with clients and provides tailor made solutions to corporates and financial institutions, with a focus on investment banking activities. GLBA/FIG Insurance Investment Banking advises insurance carriers, brokers, and reinsurers across Property & Casualty and Life & Annuity in the Americas on M&A, capital raising and strategic advisory. The team partners with product and capital markets teams and applies insurance specific valuation and diligence approaches (e.g., embedded value frameworks for Life & Annuity and reserve/loss development analytics for P&C) in support of transaction execution.
Summary
Competencies – Essential skills and technical knowledge
Strong corporate finance, accounting, and valuation skillset; advanced Excel and PowerPoint; ability to build and audit models under time pressure.
Relevant experience in investment banking, equity research, transaction advisory, or corporate investing/corporate development focused on insurance (P&C, Life & Annuity, or both).
Working knowledge of insurance financial statements and key performance drivers (underwriting profitability, reserving, investment income, capital generation).
Familiarity with insurance accounting and regulatory regimes relevant to transactions (US statutory/SAP and GAAP; IFRS 17 exposure helpful).
Understanding of insurer capital frameworks and external constraints (RBC, ratings considerations, liquidity and holding company structure).
Strong project management and judgment; ability to prioritize across multiple live workstreams and deliver accurate work product.
Clear, concise written and oral communication; able to synthesize complex topics for internal committees and clients.
High attention to detail; ownership mindset; collaborative approach in a lean deal team environment.
Ability to manage and develop junior team members, including feedback, training, and quality control.
High integrity and strong compliance orientation (confidentiality, MNPI, information barriers).
Education /Qualifications
Societe Generale is committed to offering an inclusive recruitment experience to all candidates. If you require any reasonable accommodations during the recruitment process, please do not hesitate to let our Recruiters know.
OUR CULTURE:
At Societe Generale, we live by our 4 core values of commitment, responsibility, team spirit and innovation. We are engaged and demonstrate consideration for others. We act ethically and with courage. We focus our talent and energy on collective success. We experiment and propose new ideas. This way, we maximize our ability to serve client needs and anticipate market changes. Societe Generale is committed to strengthening bonds with colleagues, communities, and the world in which we live, because relationships are at the heart of how we operate. For more information about our Culture and Conduct initiatives, please visit this link (https://americas.societegenerale.com/en/careers/get-know-culture/)
DIVERSITY, INCLUSION & BELONGING (“DIB”):
Our DIB Mission: Recruit, develop, retain and advance a talented workforce that is united in our efforts to leverage our talent and further develop an inclusive environment that will enhance our competitive position and deliver innovative solutions to our clients. It seeks to foster an environment where employee differences are valued and where all employees feel engaged, supported, respected, and informed. For more information about our DIB initiatives, please visit this link: https://americas.societegenerale.com/en/careers/get-know-diversity/
COMPENSATION:
Base salary range does not include overtime pay, bonus and/or other benefits, where applicable. Actual base salary offer will vary based on skills and experience. The role is eligible for an annual discretionary bonus and includes a competitive benefits package including 401(k) plan with company match, medical/dental/vision, and other benefits for fertility, wellness, student loans and commuters.
Responsibilities
Description of the Business Line or Department
GLBA is the Investment Banking division of SGCIB. It offers a global advisory approach focused on strategic dialogue with clients and provides tailor made solutions to corporates and financial institutions, with a focus on investment banking activities. GLBA/FIG Insurance Investment Banking advises insurance carriers, brokers, and reinsurers across Property & Casualty and Life & Annuity in the Americas on M&A, capital raising and strategic advisory. The team partners with product and capital markets teams and applies insurance specific valuation and diligence approaches (e.g., embedded value frameworks for Life & Annuity and reserve/loss development analytics for P&C) in support of transaction execution.
Summary
- Support the full transaction lifecycle (origination through execution), including financial analysis, drafting client materials, and managing day to day workstreams.
- Build, review, and audit financial models and valuation analyses tailored to insurers (P&C, Life & Annuity, or both) and insurance intermediaries.
- Produce high quality client deliverables (pitch books, confidential information memoranda, management presentations, committee materials) with clear, defensible conclusions.
- Conduct company and industry research; monitor market, regulatory, and accounting developments impacting insurers and transaction structures.
- Coordinate diligence and execution with internal partners and external advisors (legal, accounting, actuarial, consultants), ensuring timely, accurate outputs.
- Execute buy side and sell side M&A and strategic advisory processes (process planning, outreach, diligence, bids, negotiations support, and closing deliverables).
- Develop and apply insurance valuation frameworks, including trading/transaction comparables and insurer appropriate income based methods (e.g., dividend discount / ROE based approaches; DCF where applicable).
- Life & Annuity valuation and diligence: interpret embedded value concepts (EV/MCEV), value of in force and new business economics; assess sensitivity to assumptions (mortality, lapse, expenses, crediting rates, discount rates).
- P&C valuation and diligence: perform reserve and loss development analytics using triangles and standard reserving techniques to assess reserve adequacy and earnings quality.
- Assess capital, liquidity, and ratings considerations relevant to insurance transactions (statutory/SAP and GAAP impacts; RBC and rating agency capital implications; leverage and holding company constraints).
- Prepare and quality control transaction materials for execution and marketing (CIMs, management presentations, term sheets, financing options, valuation and accretion/dilution outputs).
- Manage diligence and execution logistics (data room, Q&A, model revisions, third party workstreams); identify issues early and propose solutions.
- Maintain and update relevant databases (public comps, transaction comps, trading levels, reinsurance market indicators) and support thought leadership on sector themes.
- Provide day to day oversight of analysts and interns; ensure accuracy, coaching, and adherence to team standards.
- Act within agreed risk limits and comply with internal policies and applicable securities regulations (e.g., information barriers, MNPI handling, communications, personal account dealing).
- Delegate and review discrete workstreams to analysts/interns as appropriate, maintaining accountability for final output quality and timeliness.
- Some autonomy in managing day to day execution and junior resources, always under senior banker oversight for client facing decisions and approvals.
- Client management teams (finance, strategy, treasury, capital management, actuarial) under senior banker supervision.
- Counterparties (buyers, sponsors, financing sources) and external advisors (legal, accounting, actuarial, consultants).
- Client dealing and corporate finance activities connected to transactions and advisory mandates.
Competencies – Essential skills and technical knowledge
Strong corporate finance, accounting, and valuation skillset; advanced Excel and PowerPoint; ability to build and audit models under time pressure.
Relevant experience in investment banking, equity research, transaction advisory, or corporate investing/corporate development focused on insurance (P&C, Life & Annuity, or both).
Working knowledge of insurance financial statements and key performance drivers (underwriting profitability, reserving, investment income, capital generation).
Familiarity with insurance accounting and regulatory regimes relevant to transactions (US statutory/SAP and GAAP; IFRS 17 exposure helpful).
Understanding of insurer capital frameworks and external constraints (RBC, ratings considerations, liquidity and holding company structure).
Strong project management and judgment; ability to prioritize across multiple live workstreams and deliver accurate work product.
Clear, concise written and oral communication; able to synthesize complex topics for internal committees and clients.
High attention to detail; ownership mindset; collaborative approach in a lean deal team environment.
Ability to manage and develop junior team members, including feedback, training, and quality control.
High integrity and strong compliance orientation (confidentiality, MNPI, information barriers).
Education /Qualifications
- Bachelor’s degree required; MBA, CFA, or experience at insurance company in corporate development a plus.
- 2–5 years of relevant experience, including live transaction execution experience preferred.
- FINRA licensing (e.g., Series 79/63) preferred or willingness/ability to obtain as required within the first five months of hire
Societe Generale is committed to offering an inclusive recruitment experience to all candidates. If you require any reasonable accommodations during the recruitment process, please do not hesitate to let our Recruiters know.
OUR CULTURE:
At Societe Generale, we live by our 4 core values of commitment, responsibility, team spirit and innovation. We are engaged and demonstrate consideration for others. We act ethically and with courage. We focus our talent and energy on collective success. We experiment and propose new ideas. This way, we maximize our ability to serve client needs and anticipate market changes. Societe Generale is committed to strengthening bonds with colleagues, communities, and the world in which we live, because relationships are at the heart of how we operate. For more information about our Culture and Conduct initiatives, please visit this link (https://americas.societegenerale.com/en/careers/get-know-culture/)
DIVERSITY, INCLUSION & BELONGING (“DIB”):
Our DIB Mission: Recruit, develop, retain and advance a talented workforce that is united in our efforts to leverage our talent and further develop an inclusive environment that will enhance our competitive position and deliver innovative solutions to our clients. It seeks to foster an environment where employee differences are valued and where all employees feel engaged, supported, respected, and informed. For more information about our DIB initiatives, please visit this link: https://americas.societegenerale.com/en/careers/get-know-diversity/
COMPENSATION:
Base salary range does not include overtime pay, bonus and/or other benefits, where applicable. Actual base salary offer will vary based on skills and experience. The role is eligible for an annual discretionary bonus and includes a competitive benefits package including 401(k) plan with company match, medical/dental/vision, and other benefits for fertility, wellness, student loans and commuters.
Salary : $104,000 - $200,000