Head of Credit Investments, General Account ( 240000EN )

Primary Location : UNITED STATES-NY-New York

Organization : Equitable

Schedule : Full-time

Description

At Equitable, our power is in our people.

We're individuals from different cultures and backgrounds. Those differences make us stronger as a team and a force for good in our communities. Here, you'll work with dynamic individuals, build your skills, and unleash new ways of working and thinking. Are you ready to join an organization that will help unlock your potential?

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 (i.e., 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 (i.e., 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: Equitable Total Rewards Program (https://portal.equitable.com/appentry/EDoxRedirect?node_id=A2023013000001)

Qualifications

• Bachelor’s degree with a concentration in business, finance or economics preferred, MBA or CFA would be a plus

• Minimum of 10 years of experience managing credit investments, familiarity with both public and private credit sectors is preferred

• Experience in insurance asset management and familiarity with the unique goals, challenges and complexity that this entails

• The aptitude and ability to distill a complex set of inputs into a clear investment view and strategy and to “connect the dots”

• Ability to take initiative and work collaboratively alongside senior members of the OCIO investment team and across the organization

• Excellent written and verbal communication skills

• Team player with a strong work ethic and who excels in a rigorous work environment

SKILLS CRITICAL FOR SUCCESS

Business Acumen: Knowledge of business concepts, tools, and processes that are needed for making sound decisions in the context of the company's business; ability to apply this knowledge appropriately to diverse situations.

Investment Credit Risk: Knowledge of processes, tools, and techniques used to determine the degree of credit risk in a given transaction or customer relationship; ability to assess, rate and manage investment exposure to credit risk.

Investment Performance Measurement: Knowledge of investment performance measurement; ability to utilize a variety of methods to measure the investment performance on a particular portfolio against industry benchmarks and related parameters.

Investment Risk Management Policies and Procedures: Knowledge of investment risk management policies and procedures; ability to create, implement, evaluate, and enhance investment risk management policies and procedures.

Organizational Governance: Knowledge of the processes, customs, policies, and rules affecting the way the organization is administered and controlled; ability to ensure compliance with governance guidelines and policies.

Results Orientation: Knowledge of the importance of meeting or exceeding established targets; ability to drive critical activities to completion.

Diversity, Equity and Inclusion: Demonstrates a commitment to Diversity, Equity and Inclusion by treating everyone with respect and dignity, ensuring all voices are heard and advocating for change.

ABOUT EQUITABLE

At Equitable, we’re a team of over ten thousand strong; committed to helping our clients secure their financial well-being so that they can pursue long and fulfilling lives.

We turn challenges into opportunities by thinking, working, and leading differently – where everyone is a leader. We encourage every employee to leverage their unique talents to become a force for good at Equitable and in their local communities.

We are continuously investing in our people by offering growth, internal mobility, comprehensive compensation and benefits to support overall well-being, flexibility, and a culture of collaboration and teamwork.

We are looking for talented, dedicated, purposeful people who want to make an impact. Join Equitable and pursue a career with purpose.

Equitable is committed to providing equal employment opportunities to our employees, applicants and candidates based on individual qualifications, without regard to race, color, religion, gender, gender identity and expression, age, national origin, mental or physical disabilities, sexual orientation, veteran status, genetic information or any other class protected by federal, state and local laws.

NOTE: Equitable participates in the E-Verify program.

If reasonable accommodation is needed to participate in the job application or interview process or to perform the essential job functions of this position, please contact Human Resources at (212) 314-2211 or email us at TalentAcquisition@equitable.com .

Req ID: 240000EN