VP I, Investments

Although we prefer candidates from the NY Metro area, we are also open to East Coast candidates interested in working remotely. 

About you and the role:

VP Investments will assist the Regional CIO in:

• 1) monitoring of the existing regional investment portfolios to ensure that the asset allocation is in line with strategic and tactical allocation preferences while operating within the constraints of a regulated insurance company,
• 2) constructing optimal investment portfolios and yield projections as an input to the M&A pricing process, and
• 3) generating new strategic and tactical ideas for implementation in the portfolio. Enstar’s assets under management total ~$20bn across 3 primary regions: US, UK, Bermuda.  

What you will be doing:

Key Accountabilities / Deliverables 

Primary Responsibilities: 

1) Portfolio Construction for M&A Targets – Enstar’s M&A team will provide the regional teams with a liability cash flow stream and set of regulatory and cedant-imposed constraints.  Using this information, the VP Investments will assist the Regional CIO in providing the M&A team with the following analysis for internal deal pricing:

1) a review of the existing target acquisition portfolio,

2) suggested portfolio repositioning, and

3) portfolio yields.  

2) 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, as well as capital market inputs.  

3) New Idea Generation and Proposal Development: Evaluate current market conditions and develop strategic and tactical asset allocation recommendations for presentation to the group and local investment committees.  The ability to develop a well thought out proposal is a key requirement.  Work with Tax, Accounting, Legal, Regulatory, Actuarial, Capital Management, Treasury, and other groups on new investment strategies. 

4) New and Existing External Manager Diligence and Performance Measurement – Manage initial and ongoing relationships with core fixed income and specialty asset external managers, including public equity, private equity, real estate, bank loans, high yield, emerging market debt, and other asset classes.  Perform diligence on new managers and co-investments being considered.  

Secondary Responsibilities: 

• Reporting: Prepare regional BoD/Investment Committee Presentations.
• Compliance – Monitor compliance with internal and external portfolio constraints. 
• Cash management – Ensure excess investable cash balances are minimized.  Ensure that quarterly dividends are funded through interest income and liquidation of assets.
• Budgeting & NII Projections - Work with FP&A to develop NII projections using existing holdings, maturities, projected purchases and sales as well as budgeted dividends, claim payments and commutations.  Monitor actual return vs. budget throughout year and provide attribution by asset class.   

In addition to the above key responsibilities, you may be required to undertake other duties from time to time as the Company may reasonably require.

What you will bring:  

• 8+ years of minimum experience in an insurance company asset management 
• Thorough understanding of investment management, strategic asset allocation, tactical asset allocation, and capital markets. 
• Understanding of the portfolio construction process and information required in order to make asset allocation decisions.
• Experience working with external asset managers (or internal portfolio managers) in the development of benchmarks, portfolios, and efficient frontiers. 
• Undergraduate Degree required and/or Advanced degree preferred; educational concentration in finance, economics, statistics, or a related field is preferred
• CFA designation is preferred
• Experience and understanding of core fixed income asset classes as well as non-core asset classes, including: public equity, private equity, real estate, hedge funds, infrastructure, CLO equity, high yield, bank loans, emerging market debt, and other investments
• Understanding of capital markets and insurance capital regimes is preferred.
• Strong quantitative skills are necessary in the portfolio construction and risk measurement process.
• Strong verbal communication skills are required for investment committee, BoD, regulatory and rating agency presentations and communication.   
• Strong written communication is required for proposal development and email communication with various teams located in different time zones. 
• Ability to prioritize commitments and time management is a significant requirement given the nature of our operations.
• Ability to use Excel and PowerPoint is critical, given the requirement to develop investment analytics and proposals, as well as due to the manual nature of our process.
• Strong collaborator with other functional areas and executive management to ensure consistency and efficiency of approach.
• Ability to handle conflict of opinions and drive through effective decision making.
• An understanding of financial data systems, such as Bloomberg, and experience with large data sets as part of financial or statistical analysis is preferred.
• Knowledge of SQL, VBA, Python, and Microsoft PowerBI is preferred.       

Your Benefits:

• Enstar offers best-in-class Medical, Dental, and Vision healthcare for single and family coverage.
• Board-certified doctors and pediatricians are available virtually 24/7 for urgent care.
• Access to Health Savings Account (HSA) or Flexible Spending Account (FSA).
• Access to Dependent Care FSA to cover daycare expenses.
• Access to Employee Assistance Programs (EAP) for health and well-being.
• Optional Pet & Home/Auto Insurance.
• Wellness Reimbursement program (up to $600 annual reimbursement for wellness-related expenses, i.e., gym memberships, massage, etc.).
• 401K retirement plan (company matches up to 6% of employee contribution).
• One paid annual volunteer day.

General Info

The target base salary pay range for this role is $185,000- $200,000. *Target full-time equivalent base salary range is based on relevant market data. The actual salary offered will depend on applicable market data for hiring location and relevant candidate knowledge, skills/experience. This salary range is not inclusive of applicable discretionary incentives.