Sr. Crédit Manager
Reach Your Peak with MissionSquare Retirement, a FINANCIAL SERVICES LEADER in public sector employee retirement products and services. Headquartered in Washington, DC, our Financial Services corporation administers over $50 billion in retirement plan assets for more than one million participant accounts. We are constantly looking for ways to create new opportunities to serve our participants. We have an extraordinary talent base and invite you to consider joining MissionSquare Retirement's Investment Team.
The Senior Credit Manager will oversee the credit review process and conduct credit research on financial institutions - issuers of stable value investment contracts/ wraps and fixed income securities; conduct financial analysis and credit research on other fixed income sectors/industries as relevant including key providers of products and services to MissionSquare Retirement. Serve as manager for Senior Analyst, Credit Research.
Essential Functions for this role include:
- Analyze, as applicable, statutory and GAAP financial statements and credit rating reports for:
- Stable Value issuers, including domestic and foreign life insurance companies, commercial banks and other financial services companies.
- Issuers of bonds in various financial services and other relevant industries – including insurance, banking, and diversified financial services companies – for other internally managed portfolios.
- Broker-dealers and derivative counterparties used by internally managed portfolios.
- Attend (either in-person or via Webcast or teleconference) due diligence meetings and conferences with senior managers of Stable Value issuers and industry conferences sponsored by rating agencies and investment banks.
- Monitor corporate developments for Stable Value issuers as reported by (a) the issuers’ investor relations websites, (b) rating agencies, (c) news services, and (d) financial websites.
- Prepare due diligence reports on all new Stable Value issuers and annual update reports on current issuers, to determine their financial stability and acceptability for approval and continued use as issuers, or to hold existing investment contracts for issuers which no longer meet approval for new investment.
- Provide updates (at least monthly) on any changes in ratings for approved Stable Value issuers to the Fixed Income and Investor Services teams, and quarterly update reports to the Board, as relevant.
- Conduct an annual quantitative and qualitative scoring and ranking of approved Stable Value issuers and present the assessments to the Fixed Income team.
- Conduct an annual quantitative scoring and ranking of fixed income issuers in various financial services sectors – including insurance, banking, and diversified financial services companies – for other internally managed fixed income portfolios and present the assessments to the portfolio managers.
- Perform annual credit analysis to determine the financial stability and acceptability (from a credit perspective) of critical vendor relationships identified by (a) MissionSquare Retirement’s Controller, including vendors that provide over a half a million dollars annually in products and services to MissionSquare Retirement, and (b) for vendors identified for review under the Risk Management Department’s vendor attestation program.
- Perform credit analysis on an as needed basis for companies in other sectors and industries as relevant.
Provide training as needed to junior analysts and/or cross-training to others designated as back-ups.
If you have the following credentials, we encourage you to apply:
- 10+ years' of training and experience in credit analysis at a financial services firm or credit rating agency, with a focus on financial services companies, especially life insurance companies, banks and other financial institutions, is essential.
- 7-10 years' of supervisory/management experience.
- Ability to review/analyze GAAP and insurance company statutory statements.
- Ability to conduct research on the Internet and Bloomberg.
- Ability to use Word, Excel, PowerPoint and Outlook.
- Ability to complete written analyses of PLUS Fund providers, bond issuers, broker-dealers and derivative counterparties.
- Ability to ask questions and engage in discussion with senior officers of companies undergoing due diligence analysis, and with credit rating and other industry analysts, in-person, over the phone and/or through written communication.
- Ability to perform/complete ongoing assignments and respond to ad hoc requests on a timely basis with minimal management oversight.
- Ability to communicate results of credit analysis and elevate issues impacting approval status of PLUS Fund providers, bond issuers and counterparties on a timely basis to appropriate internal managers.
- Ability to make presentations on credit research internally and to outside consultants.
- Ability to address situational issues and develop positive outcomes.
- Ability to maintain well-organized electronic and hard copy files of relevant information needed to conduct due diligence analysis.