VP, Private Alternatives Investments

2 months ago

Waltham, United States FM Global Full time

FM is a leading property insurer of the world's largest businesses, providing more than one-third of FORTUNE 1000-size companies with engineering-based risk management and property insurance solutions. FM helps clients maintain continuity in their business operations by drawing upon state-of-the-art loss-prevention engineering and research; risk management skills and support services; tailored risk transfer capabilities; and superior financial strength. To do so, we rely on a dynamic, culturally diverse group of employees, working in more than 100 countries, in a variety of challenging roles.

This is a senior role, working closely with the PM, External Investment Management – Private Alternatives, the Chief Investment Officer (CIO), and other senior Investments leaders and staff, across asset classes, with a primary focus on one or two private markets investments sub-asset class, Private Equity, Private Credit or Real Assets with our external investment management partners. The assets under collaborative management and strategic initiatives are expected to be ~$1Bil. or higher. This role will work closely with other Public and Private Markets PM’s, the Asset Allocation, Strategy group, and Investment Operations. This key role will also collaborate in helping manage broad and/or specific aspects of portfolio construction related to the external mandates in private markets. Responsibilities will also include leading and enabling, and where relevant collaboration on risk and performance analytics across private markets. The incumbent will also be leading periodic investments, economic and financial markets-related projects and initiatives related to asset allocation activities, and also necessitate collaboration with internally managed portfolio management leadership as well.

 

The role will have a small staff of generalists and/or specialists, and also will have the opportunity to add top talent, including summer interns and rotation hires. The role’s focus will primarily be private markets investments across asset classes, those are managed by our external investment management partners. The role will in the long run, have mid-level direct reports, and with a team of junior roles as well, including people management responsibilities. The externally managed private markets portfolio has investments across a very wide range of styles and strategies. The role is expected to be very proficient with concepts including but not limited to private equity, private real assets including real estate and infrastructure, and private credit, including distressed, special situations strategies. While private markets will be the primary focus of this role, a good understanding of multi asset public and private investing is key to succeed in this role.

 

The role requires extensive expertise and experience in constructing portfolios with private markets investment products with a strong understanding of the objectives of the overall investment process. The role will have primary ownership of portfolio performance across external private markets mandates, serve as a primary interface for the investment team with the external investment managers and will manage a significant part of the existing and new relationships. This includes researching new investments, new and existing manager diligence and underwriting, allocation or reallocation decisions, communication to and from managers, ownership of performance and risk of the portfolio. The role will also bring in best practices, macro-economic and market outlook to the broader portfolio. The role will closely work with investment operations, legal, tax and other support functions to ensure a seamless management of the external private markets portfolio.

 

Externally managed private markets portfolio construction. Work with PM, Senior PM and CIO to build and develop strategy. Work with Asset Allocation to define focus areas for strategy selection, manager diligence. Monitor current portfolio and strategies to determine if they are designed optimally.

 

Develop strong understanding on sources of excess return. External Manager, General Partner (GP) diligence, selection and underwriting and monitoring. Build and maintain relationships with existing and new investment management partners. Have periodical portfolio review meetings, calls to stay updated on performance and it’s drivers, risk, views and positioning. Explain drivers of performance to investment leadership. Recommend portfolio actions.

 

Special strategic investments, co-investments and portfolio companies related investments. Collaborate with performance analytics for better return and attribution reporting. Work with risk and quantitative analysis team for risk and exposure monitoring. Collaborate on portfolio construction, investments monitoring, and risk management across asset classes within the overall total portfolio construction framework.

 

Share insights from external private markets managers that would be relevant to the total portfolio. Work closely with the senior PM’s and CIO, and other senior investments leads senior directors and managers on periodic, ad-hoc, and special research projects

  • BA or BS required; MBA, CFA, CAIA or other advanced degree related to investments, economics, finance, or quantitative analysis preferred
  • 8+ years of relevant sector specific experience in investments, financial markets and/or financial risk management
  • Global financial markets, investments, risk management and economics related experience across asset classes, and risk and quantitative analysis
  • Broad knowledge in the financial markets and investments across asset classes·
  • Strong inter-personal, communication, presentation, analytical and collaboration skills
  • Experience collaborating with other internal stakeholders and partners – investment accounting, legal, tax and other departments
  • Ability to operate as an effective tactical as well as strategic thinker with flexibility to adapt to and positively influence new processes/infrastructure
  • Strong mentoring and coaching experience with excellent judgement and creative problem-solving skills including negotiation and conflict resolution skills Fast learner with a strong teamwork-based mindset, and passion for financial markets, corporate finance and investment risk management
  • Collaborative mindset, people management skills and leadership experience required
  • Expert knowledge in using Bloomberg, and FactSet, similar investments systems, as well as experience to be able to apply expertise to any new investment risk management and accounting related, and order entry systems

    The final salary offer will vary based on individual education, skills, and experience. The position is eligible to participate in FM Global’s comprehensive Total Rewards program that includes an incentive plan, generous health and well-being programs, a 401(k) and pension plan, career development opportunities, tuition reimbursement, flexible work, time off allowances and much more.

     

    FM Global is an Equal Opportunity Employer and is committed to attracting, developing and retaining a diverse workforce.

     

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