Director, Externally Managed Investments
The Auto Club Group (ACG) provides membership, travel, insurance and financial services offerings to approximately 9 million members and customers across 11 states and 2 U.S. territories through the AAA, Meemic and Fremont brands. ACG belongs to the national AAA federation and is the second largest AAA club in North America.
Primary Duties and Responsibilities:
Primary responsibilities include contributing to asset allocation and portfolio construction as well as taking a lead role in due diligence of both current and prospective investment managers, using both qualitative and quantitative analysis. This job is a generalist, but will spend a significant amount of time focused on alternative investments, including private equity and private real asset/real estate strategies Directs activities and personnel related to cash and invested assets for the Auto Club Group in order to achieve established benchmark returns. Implements and ensures adherence to Board approved investment policy. Monitors and analyzes market conditions and investment strategies and performance of competitors. Develops investment strategy to meet portfolio objectives.
- Performs investment accounting, including Schedule D of the Annual Statement. Prepares quarterly report to the Investment Committee of the Board of Directors.
- Oversees the administration of the broker-dealer subsidiary. Responsible for the continuous improvement and team leadership of the investment process.
- Serves on various insurance related investment committees, such as the Michigan Catastrophic Claims Association, National Association of Independent Insurer's, Michigan Property and Casualty Guarantee Association, Michigan Automobile Insurance Placement Facility and the Michigan Business and Property Association.
- Develops and monitors departmental budget projections and makes revisions as appropriate.
Directs the interviewing, hiring and training of personnel. Schedules work hours and monitors employee work performance. Counsels, disciplines and terminates subordinates as indicated.
Masters of Business Administration degree (MBA)
Certified Financial Analyst (CFA) Experience: Experience as a portfolio manager, or in a management position, for property & casualty insurance, life insurance and/or retirement plans with a strong background in alternative asset classes investing.
Bachelor's degree in Finance, Accounting, Economics, or a closely related field.
•Long term strategic asset allocation and tactical after-tax income
•Total portfolio management
•Benchmark performance record
•Staff management and development
•Development of business plans and budgets
•Managing broker consultant and investment manager relationship
•Budgeting, forecasting and performance measurements for investment portfolio(s)
•Analyzing cash flow, investment vehicles, and business profitability
•Analyzing corporate, economic and investment data for impact on business decision making
Knowledge and Skills:
•Operations of financial institutions
•Insurance investment practices
•Accounting and taxation of investments
•Organizing and planning
•Identifying and analyzing problems and develop innovative solutions
•Communicating effectively with others in the work environment and with the public
•Preparing and presenting written and oral reports to all levels of management
•Continuously improving business processes
•Developing and implementing quality service standards
•High level of integrity, a proactive entrepreneurial mindset and the ability to work in a dynamic team environment
•Strong written and oral communication skills, attention to detail and pride in final deliverables
The Auto Club Group offers a competitive compensation and benefits package including a base salary with performance based incentives; medical/dental/vision insurance, 401(k), generous time off, a complimentary AAA Membership and much more!