Senior Portfolio Manager, Government Bonds & Cross-Asset Derivatives (Chicago)

At Allstate, great things happen when our people work together to protect families and their belongings from life's uncertainties. And for more than 90 years our innovative drive has kept us a step ahead of our customers' evolving needs. From advocating for seat belts, air bags and graduated driving laws, to being an industry leader in pricing sophistication, telematics, and, more recently, device and identity protection.

Job Description

Allstate Investments manages approximately $66 billion of assets. Our goal is to provide sustainable, competitive, risk-adjusted investment returns and investment related services for the benefit of The Allstate Corporation. We attribute our successful track record in large part to the quality of our people. The size of the investment group exceeds 300 individuals across a variety of investment disciplines including fixed income, equities, private assets, commercial real estate, and derivative asset classes, as well as finance and technology. We recognize that our employees are our ultimate advantage, and we seek to attract and retain highly qualified individuals with strong academic backgrounds, a deep interest in investments and a desire to be challenged.
This position is a hybrid role, meaning your schedule will consist of time in an office setting and time working remotely from your home. The hybrid model is intended to provide greater flexibility and will mean something different to each team, job and employee. Office presence is driven by the nature of the work and team needs. You'll work from home for the remainder of the time you're not in the office. This position is eligible for a monthly connectivity reimbursement to offset the costs of internet and phone expenses.

As the Senior Portfolio Manager in our Government Bonds & Cross-Asset Derivative team, you will play a key role across two primary functions: managing relative return mandates for U.S. government bonds and assisting in the development and execution of derivative strategies, including interest rate, equity, currency, and credit derivatives. You will collaborate closely with other senior portfolio managers as well as senior management with executing investment strategies, managing risk, and optimizing the portfolio's performance. The role requires a robust understanding of government bonds and related market dynamics, derivatives markets, strong analytical skills, and a proactive approach to managing risk in dynamic market conditions.

KEY RESPONSIBILITIES The role contains key responsibilities across 3 primary functions: Rates

• Lead the portfolio management for relative return US Government Bond mandates, including portfolio construction and day-to-day management
• Develop and communicate global rates outlook across multiple cross-asset teams through a combination of fundamental views, market surveillance, and technical tools
• Assist in establishing duration and curve positioning for Allstate's $70bn+ investment portfolio, effectively communicating market outlook and positioning views to asset allocation committees
• Execute U.S. Treasury and Agency debt trades with sell-side counterparties for portfolio positioning and cash flow needs across 125+ client portfolios
• Analyze ex-ante portfolio risk and ex-post portfolio performance for U.S. Government Bond mandates using Blackrock Aladdin and proprietary tools
• Responsible for maintaining full compliance with all mandate's guidelines and policies

Derivatives

• Manage and implement FX hedge programs across several mandates, in coordination with various internal teams
• Execute futures, swaps, options, and forwards trades across asset classes, clients, and mandates
• Contribute to the development of new derivative trade ideas and strategies
• Collaborate with risk, compliance, and back/middle office teams to ensure derivative usage complies with all applicable regulations, internal guidelines, and policies. Assist in resolving derivative trade life cycle issues
• Actively monitor regulatory and market developments related to derivatives and their use in an insurance context
• Assume responsibility over statutory and internal derivative compliance, including assuming quarterly compliance reporting requirements

Leadership

• Actively lead a small team, focusing on team and individual development
• Proactively develop strategies and processes that advance the team
• Communicate across the Public Fixed Income team as a senior investor
• Effectively deliver on ad-hoc projects both relating to or expanding beyond interest rates

SUPERVISORY RESPONSIBILITIES

• This role is expected to supervise at least 1 person

EDUCATION AND EXPERIENCE

• Bachelor's degree in Finance, Economics, Mathematics, or related field. MBA, CFA, or similar professional qualifications preferred.
• 10+ years of experience managing government bond portfolios, with a preference for experience with global bond markets
• Experience with securitized assets, particularly agency MBS, is a plus
• Experience with FX strategy and implementation is a plus
• Preference for experience managing individuals and groups, though not required

CERTIFICATIONS, LICENSES, REGISTRATIONS

• No Certification, License or Registration is required for the job.

FUNCTIONAL SKILLS

• Strong quantitative and analytical skills, with experience using financial modeling techniques and tools (e.g., Excel, Bloomberg, BlackRock Aladdin). Knowledge of pricing and risk analysis for derivatives instruments. Experience trading treasuries, futures/options, and FX a plus.
• Strong interest in financial markets, particularly fixed income.
• Excellent written and verbal communication skills.
• Ability to work effectively within a team, collaborate with colleagues across different functions, and contribute to a positive work environment.
• High level of accuracy and attention to detail.

Skills

Compensation

Compensation offered for this role is $205,000.00 - 286,750.00 annually and is based on experience and qualifications.

The candidate(s) offered this position will be required to submit to a background investigation.

Joining our team isn't just a job - it's an opportunity. One that takes your skills and pushes them to the next level. One that encourages you to challenge the status quo. And one where you can impact the future for the greater good.

You'll do all this in a flexible environment that embraces connection and belonging. And with the recognition of several inclusivity and diversity awards, we've proven that Allstate empowers everyone to lead, drive change and give back where they work and live.

Good Hands. Greater Together.

Allstate generally does not sponsor individuals for employment-based visas for this position.

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