Director - ISD, Spread Lending
Northwestern Mutual
Milwaukee, WI
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:
- 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
What You’ll Bring to the Role:
- 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.
Skills You Have:
Relevant Technical Skills:
- MS Office, Excel, Power BI
- Bloomberg, Aladdin
- Snowflake
- Actuarial or ALM Modeling Software (MG-ALFA, Prophet, GGY Axis, etc.)
Accountability: Holds self and their direct reports accountable for measurable, high-quality, timely, and cost-effective results, delivery, and execution. Determines objectives, sets priorities, delegates work to direct reports, and accepts responsibility for mistakes.
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.
#LI-Hybrid
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.
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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
About the Company
Northwestern Mutual
Who We Are
What we believe.We believe relationships are built on trust. That our lives and our work matter. And that doing what’s right is good for everyone — our clients, our employees, our financial representatives and our communities.
These beliefs launched our company nearly 160 years ago. Today, they’re just a few of the reasons why people choose to build careers at Northwestern Mutual.
That means we’ll be here for the millions of people who are counting on us—our clients, our employees, our financial representatives and our communities.
We care.We make a positive difference in our communities. Nationally, thousands have benefited from our support of research and programs to fight childhood cancer. Each year, our Foundation, employees and financial representatives donate time, talent and financial support to causes they’re passionate about.
Why Work Here
We’re strong and growing.In a company with such a long and storied history, this may be the most exciting and important time to be a part of Northwestern Mutual. We’re strong, innovative and growing. And we want you to grow with us.
We invest in our people.We provide opportunities for employees to grow themselves, their careers, and, in turn, our business. Movement around the company is encouraged and we help our people build meaningful, long-term careers.
Be part of building our future.We’re expanding our campus in downtown Milwaukee overlooking Lake Michigan. The Northwestern Mutual Tower and Commons will include a state-of-the-art employee Learning Institute, and will feature a natural light-filled, 21st century work environment. This signature development reinforces our commitment to job growth, attracting top talent and drawing new business to Milwaukee.
Enjoy Milwaukee.Located on beautiful Lake Michigan, Milwaukee offers a perfect balance of big city and small town living. Home to Summerfest, the world’s largest music festival, Milwaukee has a thriving music scene, a celebrated annual film festival and vibrant performing arts community. Professional sports teams include the Milwaukee Brewers, Milwaukee Bucks and other major teams. And outdoor family fun is easy here. An extensive urban bike path network links our lakefront parks, beaches and other recreational hotspots.
Our Culture
We are always evolving.At Northwestern Mutual, our employees, and our business, are always evolving. We are agile and continuously learning and improving. We have a work environment that empowers problem solving and encourages innovation—you will make an impact here.
We do what’s right.Our “do-what’s-right” value is pervasive. We ask ourselves: “Is this in the best interest of our clients? Our employees? Our financial representatives?” Acting on this value improves our clients’ experience, and makes Northwestern Mutual a better place to work.
We recognize and develop possibilities in our people.Onsite training and leadership development programs help employees succeed and grow. We also sponsor learning opportunities outside the company to help employees stay current in their fields, network with peers and gain external perspective.
Diversity makes us better.We believe diversity and inclusion cultivate creativity, innovation and a better experience for our clients. That’s why we recruit and grow people who bring unique perspectives, ideas, beliefs and cultural backgrounds.