Head of Credit Investments, General Account

Description

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Equitable General Account Office of CIO ( OCIO ) / Investment Team

Equitable’s OCIO has responsibility for managing Equitable’s $100 billion General Account investment portfolio. The GA investment portfolio supports the various US insurance and retirement businesses of Equitable Holdings and includes a broad spectrum of public and private fixed income, mortgages and alternative investments.

Equitable’s OCIO has implemented an out-sourced model for managing its General Account that utilizes a combination of affiliated managers (primarily its affiliate Alliance Bernstein) as well as third-party external managers.

Within this framework, the OCIO retains responsibility for investment strategy, asset allocation, asset-liability management, oversight of external managers and reporting to key stakeholders (Equitable’s Board of Directors, investors, regulators, rating agencies).

Equitable’s external managers have primary responsibility for day-to-day research, trading and management of the GA portfolio.

Job Overview

The Global Head of Credit Investments will have responsibility for oversight and management of a portfolio of public and private corporate credit investments totalling $51 billion in book value.

This includes investments in Investment Grade Corporate Bonds, Municipal Bonds, Private Placements, Infrastructure Debt, Emerging Market Debt, High Yield Bonds and Middle Market Loans managed by affiliated investment teams and external managers.

The position will involve developing credit portfolio strategy, providing oversight and direction for affiliated and external asset managers, monitoring portfolio performance, and working with partners within the Equitable organization (, Treasury, Accounting, Legal, Investor Relations) on various projects and initiatives.

The over-arching goal of the role is to deliver superior performance across credit asset sectors.

Responsibilities and Duties

Strategy - Develop views for credit markets and strategy for Equitable’s credit portfolio. Focus on strategic decisions and high-level positioning with regard to allocation across credit asset classes, credit quality tiers, industry sectors and geographies.

Work with managers to implement these strategies.

Oversight for Asset Managers Provide oversight, guidance and direction to both affiliated asset managers (, Alliance Bernstein) and third-party managers that manage credit assets for Equitable’s General Account.

Particular focus to be placed on higher risk / alpha sectors such as High Yield, Middle Market Loans and Emerging markets as well as Private Placements and Infrastructure Debt.

Monitor performance of these managers and ensure compliance with portfolio investment guidelines. Handle ad-hoc projects and requests from managers.

Be willing and able to challenge managers when needed.

New Credit Sector Initiatives Take the lead in evaluating new asset classes, structures and initiatives in the credit sectors.

Work collaboratively with business partners in the finance, operations and legal areas as well as with Alliance Bernstein to implement these initiatives.

Risk Management Work collaboratively with Alliance Bernstein, external managers and Equitable’s Risk Management team to monitor emerging risks in the credit sectors and develop and maintain appropriate risk limits, investment guidelines and risk flagging tools.

Take the lead in maintaining Equitable’s Watch List process across all credit sectors. Serve as a member of Equitable’s ALCO (Asset-Liability Committee) working group.

Operational Improvements Work with business partners to build and implement operational improvements with regard to credit portfolio assets, including developing more robust investment guidelines, investment policies and procedures, reporting capabilities and performance measurement.

Reporting Work with business partners to provide regular reporting on credit portfolio performance as well as ad-hoc reporting on special topics to stakeholders including Equitable’s senior management and the Investment Committee of Equitable’s Board.

The total targeted compensation range for this position is $304,000-$396,000. Total compensation varies based on skills, experience, geographical location, and other factors.

For eligible employees, Equitable provides a full range of benefits. This includes medical, dental, vision, a 401(k) plan, and paid time off.

For detailed descriptions of these benefits, please reference the link below.

Equitable Pay and Benefits :

Qualifications