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Structured Credit Lead

Employer
MassMutual
Location
Hartford, USA
Salary
Competitive
Closing date
Feb 24, 2024

View more

Job Function
Other
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
The Opportunity

The Structured Credit Analyst role will be responsible for the evaluation, structuring, diligence, and on-going monitoring of structured credit investments. The analyst will be responsible for relationships with MassMutual's public and private asset back managers and will work closely with the internal Portfolio Managers and Head of Fixed Income Portfolio Management. This role will have direct responsibility for the primary coverage of assigned sectors of MassMutual's General Investment Account (GIA.) The structured credit portfolio consists of a portfolio of diverse assets, structures, and mangers; the assets are often complex, bespoke and under negotiated terms.

The Team

The Fixed Income Portfolio Management (FIPM) team has responsibility for asset allocation, fundamental credit underwriting and monitoring, ESG investment strategy, and macroeconomic research. A small and highly collaborative team, FIPM works with other teams in Investment Management to manage the product segment portfolios and the approximately $250 billion General Investment Account (GIA). The team pairs fundamental investment analysis and asset allocation skills with quantitative and asset/liability management expertise. This high-profile group works across all of Investment Management as well as with our other internal stakeholders including product, actuarial, treasury, accounting, risk, legal, and compliance, among others.

The Impact:

The analyst will support the continued growth of the structured credit portfolio and the GIA with structuring, underwriting, monitoring, closing and of asset back transactions and mangers. The support will assist the investment management department goal of providing MassMutual policy holders' financial security.
  • Act as the in-house expert and thought leader for designated areas of concentration
  • Execute fundamental credit analysis of individual holdings within various structured asset classes and recommendations of action where necessary. Recommendations are used by Portfolio Managers, Head of Asset Allocation, and Head of FIPM to drive and influence investment decisions for the GIA, and decision recommendations are aligned to our investment philosophy/fit our long-term strategy (i.e. patient, long-only investment style that strives to manage risks and take advantage of opportunities)
  • Research, underwrite, analyze, and monitor multiple fixed income asset classes including bringing names and/or strategies through the Investment Committee(s) .
  • Conduct in-depth research of various investment-related topics relative to evaluation of potential future investment opportunities as well as current General Investment Account (GIA) holdings . Provide bottom-up, fundamental analysis and generate investment insights that are dynamic and additive to performance, relative to benchmark and pricing assumptions. Deep, thorough, and original structured credit research results in actionable, real-time investment decisions across assigned sectors.
  • Work with owned and/or outside asset managers to review their General Investment Account fixed income portfolios, strategy and performance and provide recommendations to senior leadership of Global Fixed Income
  • Contribute to MassMutual Investment Management's collaborative investment process by sharing views with Investment Management (leadership/PMs and Analysts), providing critical input to the team related to their analysis and associated buy/sell recommendations

The Minimum Qualifications

Minimum 10 years of relevant experience with full sector and security selection responsibility (e.g. credit analysis, portfolio management, credit hedge fund, private credit, etc.)

Strong experience in Asset Backed Securities markets. Well-developed analytical skills reflected in superior credit and/or cash-flow analysis.

The Ideal Qualifications

A systematic and deep thought process with the ability to understand and articulate portfolio implications of individual bond ideas.

Comfort with basic concepts in structured finance, such as LTV & attachment points, triggers, covenants, collateral types, speeds, default curves, average life, structure types and performance metrics

Ability to underwrite, structure and act as deal team lead on private ABS transactions

A high degree of intellect, curiosity, drive for continued improvement, and a passion for investing.

Attention to detail, strength of conviction, ability to think independently, and generate original ideas and opinions.

A desire to work in a collegial team-oriented environment and openness to discussing, sharing, and debating original investment ideas with a collaborative style.

An effective communication style that has been applied in presenting to clients, senior leadership, and broader audiences; strong communication skills (both written and oral) that result in succinct and defensible recommendations.

A flexible, open-minded style and an interest in gaining perspectives from various sources and people. Highest standards of personal honesty and integrity.

Knowledge and experience with Liability Driven Investment (LDI) and/or insurance solutions preferred . Strong academic credentials that ideally include a CFA and/or an M.B.A. degree.

Proficiency In Microsoft Office with strong Excel modeling skills; ability to work with complex datasets

Proficiency in Bloomberg terminal

Understanding of cash flow modeling and exposure to Intex (or like) modeling

What to Expect as Part of MassMutual and the Team
  • Regular meetings with the Investment Management team
  • Focused one-on-one meetings with your manager
  • Access to mentorship opportunities
  • Networking opportunities including access to Asian, Hispanic/Latinx, African American, women, LGBTQ, veteran, and disability-focused Business Resource Groups
  • Access to learning content on Degreed and other informational platforms
  • Your ethics and integrity will be valued by a company with a strong and stable ethical business with industry leading pay and benefits

#LI-IZ1
MassMutual is an Equal Employment Opportunity employer Minority/Female/Sexual Orientation/Gender Identity/Individual with Disability/Protected Veteran. We welcome all persons to apply. Note: Veterans are welcome to apply, regardless of their discharge status.

If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need.

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