Assistant Portfolio Manager, Structured Finance

Location(s)

Chicago, Illinois

Details

Kemper is one of the nation’s leading specialized insurers. Our success is a direct reflection of the talented and diverse people who make a positive difference in the lives of our customers every day. We believe a high-performing culture, valuable opportunities for personal development and professional challenge, and a healthy work-life balance can be highly motivating and productive. Kemper’s products and services are making a real difference to our customers, who have unique and evolving needs. By joining our team, you are helping to provide an experience to our stakeholders that delivers on our promises.

Position Summary

Kemper has an immediate need for an Assistant Portfolio Manager, Structured Finance. Individual will report to the Sr. Portfolio Manager and will be responsible primarily for directing research and developing portfolio management strategies for the firm’s $1.3 billion portfolio of publicly traded CLO, CMBS, and ABS debt securities. The individual will supervise 1-2 analysts or interns and will contribute to evaluating private structured investments and other investments as needed as part of a the larger, highly-collaborative, team who oversees the company’s roughly $10 billion investment portfolio.

Position Responsibilities

• Analyze quantitative and qualitative attributes of existing and potential CLO, CMBS, and ABS debt investments.
• Create and maintain detailed securitized security reviews including assessment of manager platform, underlying collateral portfolio, and deal documentation qualities.
• Develop and maintain a repository of overall market metrics to frame relative value opportunities among structured finance securities and to enhance negotiations of new deals and secondary trading opportunities
• Arrange and lead meetings with external parties such as underwriters, managers, and rating agencies to maintain knowledge of developments in structured finance and related markets
• Diligence new asset-backed / asset-based finance securitization structures as the market or internal needs develop
• Effectively communicate buy/sell/hold investment recommendations to Portfolio Managers and Investment Management Committee, both verbally and in writing
• Maintain active dialogue with entire investment team to understand relative value among asset classes
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• iaise with other internal groups such as accounting, audit, and compliance on valuation, modelling, and regulatory reque
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• ts as they pertain to the structured investments portfolio
• Develop and manage day-to-day responsibilities of 1-2 analysts or interns as it pertains to accomplishing any of the above responsibilities
• Research potential CLO debt and equity investments to include broadly syndicated, middle market, and bilateral loan deals, warehouse facilities, and combo note structures.
• Utilize GPIM underwriting guidelines, deal-specific cash flow modeling, and review of deal terms, as well as all available sources of information (e.g., offering/governing documents, roadshows, published research, news, financial reporting, rating agency reports, and market color) to create clear, comprehensive, and authoritative credit memoranda.
• Assist in and conduct presentations to Investment Committee. Review, explain and answer committee questions. Conduct timely, and accurate follow-up analysis
• Review deal term sheets and offering documents to understand key deal terms related to payment waterfall, collateral eligibility, deal performance triggers, and rights and authorities of key parties. Maintain knowledge of market terms and pricing to support efficient comparisons and negotiation of deal terms.
• Build cashflow models when necessary. Project impact of Investment Committee approved credit stresses on the cashflow, pricing, liquidity and rating of investments.
• Perform surveillance of investments and product areas, including reviewing performance reports and third party research, following news and developments, and interacting with internal/external subject matter experts.
• Research and recommend credit sells and other loss mitigation actions.
• Obtain and review investment reporting to support generation of ongoing monitoring reports. Create internal memos/emails to communicate developments to internal constituents (PMs, senior management, Investment Committee)
• Develop comprehensive understanding of GPIM models for risk and exposure reporting. Execute, maintain, and enhance those models.
• Participate in issuer, servicer, and manager meetings/calls to maintain knowledge of market developments and industry practices. Conduct high frequency monitoring of manager news and industry developments in the CLO and bank loan markets.
• Maintain updated cashflows and analytics for existing investments. Support CLO trading with timely refreshing of deal cashflows and key structural terms
• Skills & Experience Required
• 5 years of research, analysis, or structuring in CLOs
• MBA, CFA, or equivalent educational background.
• Strong credit, finance, economic, business and technical skills.
• Strong written and verbal communication skills
• Ability to multi-task across analytical, administrative, and research activities in a detail oriented and timely manner.
• Strong commitment to performance and accuracy of work product.
• Experience in VB or Python programming, SQL, and technology systems development for structured finance applications is desirable.
• Team oriented individual with ability to work well with diverse groups

Position Qualifications

• Bachelor’s Degree and progress towards a CFA charter
• 5 years in CLO research or equivalent. CMBS and ABS analytical experience strong plus.
• Expertise with structured security analytical systems such as Intex, Bloomberg, or Rating Agency. Aladdin a plus.
• Must be self-motivated with a demonstrable record of professional development & intellectual curiosity including certifications, postgraduate work, and participation in industry organizations
• Candidates should possess excellent analytical skills, decision making ability, and communication skills. Comfortable making investment recommendations to and fielding questions from an investment committee
• The selected candidate will work a hybrid work schedule which will require weekly reporting to our Chicago, IL office
  
  

The range for this position is $127,00 to $211,700. When determining candidate offers, we consider experience, skills, education, certifications, and geographic location among other factors. This job is eligible for an annual discretionary bonus and Kemper benefits (Medical, Dental, Vision, PTO, 401k, etc.)

Kemper is proud to be an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran, disability status or any other status protected by the laws or regulations in the locations where we operate. We are committed to supporting diversity and equality across our organization and we work diligently to maintain a workplace free from discrimination. Kemper is focused on expanding our Diversity, Equity and Inclusion efforts to align with our vision, mission, and guiding principles. Kemper does not accept unsolicited resumes through or from search firms or staffing agencies. All unsolicited resumes will be considered the property of Kemper and Kemper will not be obligated to pay a placement fee.

Kemper will never request personal information, such as your social security number or banking information, via text or email. If you receive such a message, delete it.