Analyst – High Yield/Leveraged Loans Public Asset Group

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

As part of Allstate Investments’ Below Investment Grade (BIG) exposure, we invest in high yield bonds and broadly syndicated bank loans for Allstate general accounts. We also manage Collateralized Loan Obligations (CLOs) under the AIMCO name. Our people, process, and the broader Allstate enterprise have been key ingredients to our collective success. We win with a collaborative team effort anchored by our proprietary credit process, which has led to a strong performance track record through investment cycles across all mandates.

Allstate Investments’ Public Asset Group is seeking an analyst to join our credit research team as a generalist that supports our High Yield/Leveraged Loan (CLOs) mandates.

The analyst role involves underwriting leveraged credit investments and making recommendations based on a thorough understanding of industry and company fundamentals, as well as valuation.  Our process is very team-oriented, so the ability to work well within the group is critical.  The goal of the research team is to help deliver the best possible results for our clients.  This job involves working closely with portfolio managers, developing investment themes, credit analysis and relative value recommendations.

Responsibilities:
 

• The Analyst will be expected to focus on the following:

• Perform quantitative and qualitative analysis to support the underwriting of potential investment opportunities through our proprietary credit process, which is anchored around building detailed company specific financial models and forecasts in addition to understanding business and industry drivers, competitive positioning, and management/equity sponsor strength; this is often on an accelerated time frame.

• Consistently affirming recommendations to Portfolio Managers that drive relative return performance as valuation shifts.  For existing issues, this includes reviewing quarterly operating results, writing credit reviews and updates, updating financial models, reviewing fundamental and secular outlooks, and monitoring changes in prices and spreads.

• Contributing to the improvement of the overall investment process by continually exploring new ideas, processes and technologies that will benefit the group.

• Provide support for internal and external communications on an as-needed basis.

Challenges within the first 12 months:
 

The most significant challenges for the Analyst for the first 12 months include:
 

• Learning our proprietary credit process

• Integrating into our organization and culture

• Establishing credibility with the Portfolio Managers and other asset teams within Allstate

• Developing sufficient knowledge of current portfolio holdings to preserve strong financial performance and seek attractive investment opportunities for the portfolios.

Professional Background:
 

Experience:

• 6+ years of primary analyst coverage across High Yield & Leveraged Loan mandates

Skills Required:
 

• Strong financial modeling skills coupled with a solid understanding of finance, economics and market cycles

• Strong interpersonal skills and willingness to be a reliable team player, build trust and confidence through collaboration with a wide range of internal and external colleagues

• Ability to work independently; efficiently prioritize workstreams Strong work ethic and communication skills

• Advanced Excel skills, Bloomberg

• Investment banking and/or formal credit training a plus 

Educational Background:
 

• A bachelor’s degree in accounting, finance or related with strong academic performance; CFA and/or MBA preferred

Leadership Requirements and Personal Traits:
 

The successful candidate will be a change leader and manager. This individual must also have the following personal and professional attributes which are consistent with the Company’s stated values:
 

• Thrive on change and continuous improvement;

• Demonstrate and foster a sense of urgency, strong commitment, and accountability while making sound decisions and achieving goals;

• Focus on exceptional customer service and drive innovation to create an atmosphere that supports new ideas and initiative;

• Strive for effective communication resulting in teamwork, shared knowledge, and ideas;

• Articulate, inspire, and engage commitment to a plan of action aligned with organizational mission and goals;

• Ensure the development of a diverse pool of talent to meet current and future organizational needs;

• Create an environment where people from diverse cultures and backgrounds work together effectively;

• Be of unquestionable integrity, ethical and moral character;

• Deal effectively with ambiguity, change, and adapt appropriately to a range of situations;

• Pursue lifelong learning and personal development;

• Be willing to adhere to the following to ensure adherence to Allstate Investments compliance requirements and policies:

• Provide the Investments Compliance team with a list of investment accounts over which you have significant influence;

• Provide consent, through a signed statement, allowing Investments Compliance to receive duplicate confirmations of transactions in such accounts;

• Pre-clear through the Pre-Trade Clearing Process any personal security trades as will be further described upon employment. The Pre-Trade Clearing Process involves a check against a restricted security/issuer list, maintained by Investments Compliance, based on Allstate Investments' and Allstate's activities and dealings in the financial markets;

• Answer certain compliance questions regarding any affiliations with investment advisers, violations of state or federal securities laws, or actions taken against you by securities regulators and annually confirm compliance with the Allstate Code of Ethics and the Allstate Investments Code of Conduct;

• Provide Investments Compliance with a complete report of their current securities holdings in which the employee has, or acquires, any direct or indirect beneficial ownership. An employee is presumed to be a beneficial owner of securities that are held by his or her immediate "family members" sharing the individual's household. Household family members include married or common-law spouses, domestic partners, partners defined by civil union and resident dependent children.

Compensation and Benefits Package:

 

A competitive compensation and benefits package will be provided, including an attractive base salary and an annual target bonus opportunity based on the company’s and the individuals performance.

Additionally, Allstate offers a diversity of competitive benefits programs and resources:

• Comprehensive health care plans, dental coverage, vision coverage, and flexible spending accounts;

• Group legal, AD&D, group and dependent life insurance, as well as long-term and short-term disability;401K;Tuition reimbursements for further education opportunities;

• Paid time off days;

• Shuttle service from nearby public transportation.
  #LI-MC1

Skills

Analytical Analysis, Credit, Finance, Financial Modeling, Financial Products, High Yield Bonds, Investment Banking, Investment Management, Investment Portfolio Management

Compensation

Compensation offered for this role is $130,000.00 – 190,000.00 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.

Effective July 1, 2014, under Indiana House Enrolled Act (HEA) 1242, it is against public policy of the State of Indiana and a discriminatory practice for an employer to discriminate against a prospective employee on the basis of status as a veteran by refusing to employ an applicant on the basis that they are a veteran of the armed forces of the United States, a member of the Indiana National Guard or a member of a reserve component.

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