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Job Type Full Time
Date Posted 2017-07-24
Location Madison, WI
Company Name American Family Mutual Insurance Company
Qualifications

Position Details:

American Family Mutual Insurance Company (AFMIC) is seeking a Structured Products Analyst with extensive CMBS (Agency, Conduit, and Single Asset Single Borrower) experience for the Life and Property & Casualty Companies. There will also be some responsibility assisting in ABS. The Structured Products Fixed Income Analyst will work closely with the Structured Products Fixed Income Manager overseeing the General Account assets. Additionally, there will be responsibility overseeing external fixed income managers.

AFMIC has approximately $18bn in General Account assets and utilizes a Hybrid investment model. The assets are internally and externally managed. The asset strategy is a mix of Total Return and Book Yield. The strategy is dependent on the type of liabilities backing the assets. The AFMIC Investment Division is a flat organization and all team members will have a direct impact on the performance of the assets under management.

Position Objective:
The Structured Products CMBS Analyst will responsible for conducting credit analysis, market research, and portfolio analysis in order to make investment decisions. This position is also responsible for surveillance of current and proposed external managers as it related to fixed income securities.

Primary Accountabilities

Credit and Market Analysis:

  • Conduct cash flow testing on CMBS utilizing Trepp.
  • Research CMBS market conditions utilizing index data, street research, and other sources.
  • Stay up to date on economic, commercial real estate market conditions, and regulatory changes.
  • Develop analytical tools to enhance security selection, portfolio management, and surveillance.
  • Review deal documents and pre-sale reports.
  • Communicate findings verbally and in writing on issuers and individual securities.

Portfolio Monitoring and Management Support:

  • Perform surveillance of portfolio holdings to monitor risk and adherence to investment guidelines.
  • Perform simulations using interest rate sensitivities and “what-if” assumptions.
  • Interpret and report drivers of portfolio performance and risk utilizing attribution analysis.
  • Take into consideration risk tolerance, diversification, and liquidity for making portfolio changes as it relates to sector, duration, WAL, quality, and yield.
  • Negotiate best prices and execution on fixed income investments under the supervision of the Structured Products Portfolio Manager.

Reporting and Data Analysis:

  • Contribute to monthly, quarterly, and annual reports.
  • Assist in developing new reports and improving existing reports.
  • Maintain the accuracy and integrity of various applications, systems, and databases.

External Investment Manager Support:

  • Conduct surveillance on existing external fixed income investment managers.
  • Conduct analysis and selection of external fixed income managers utilizing quantitative and qualitative due diligence techniques.
  • Update external manager database with contact information, performance, and reporting documents.

Preferred Knowledge and Skills:

  • A minimum of 2 years’ experience analyzing CMBS. ABS experience helpful but CMBS is primary need.
  • Experience from the Buy Side, Rating Agencies, and Sell Side (desk strategy, research, credit analysis, or structuring).
  • Experience in cash flow modeling utilizing BBG, Intex, or Trepp required.
  • Knowledge of Performance, attribution, and risk techniques helpful.
  • Understanding of various statistical techniques.
  • Knowledge of Blackrock Aladdin, Bloomberg, Intex, and Trepp.
  • Knowledge of programing languages is helpful but not required.
  • Experience in databases and BI tools helpful but not required.
  • Must have strong interpersonal and communication skills.

Education:

  • Bachelor’s Degree in a finance related or quantitative discipline.
  • Master’s Degree in related discipline or CFA (preferred but not required).
  • Experience in CMBS will be more desirable than secondary education or designations.

Travel Requirements:

This position requires travel up to 10% of the time to attend conferences, educational seminars, meetings with the street, and issuers.

Some relocation support will be provided

How to Apply

Please send resumes to

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