Intermediate Portfolio Manager, Government Bonds and Cross-Asset Derivatives

Company: Allstate Insurance
Location: Chicago
Posted on: March 12, 2025

Job Description:

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 DescriptionAllstate 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 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.

Job Summary:

As an Intermediate 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 senior portfolio managers to execute investment strategies, manage risk, and optimize 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 2 primary functions:U.S. Rates

• Assist in managing relative return U.S. Government Bond mandates through the development of fundamental views, market surveillance, and technical analysis.
• Contribute to duration and curve positioning for Allstate's $65B+ investment portfolio.
• Execute U.S. Treasury and Agency debt trades with sell-side counterparties for portfolio positioning and cash flow needs across 75+ client portfolios.
• Analyze ex-ante portfolio risk and ex-post portfolio performance for U.S. Government Bond mandates using Blackrock Aladdin and proprietary tools.Derivatives
  • Manage and implement FX hedge programs for non-USD private assets and pension plan DM equity portfolio, in coordination with private asset and pension portfolio management 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.Supervisory Responsibilities
    • This job does not have supervisory duties.Education and Experience
      • Bachelor's degree in Finance, Economics, Mathematics, or related field. CFA or similar professional qualifications are a plus.
      • 5-7 years of experience in financial markets or research, with direct experience trading treasuries or derivatives a plus.Certification, 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.SkillsDerivatives, Financial Markets, Financial Risk Management (FRM), Fixed Income Investments, Investment Management, Stakeholder Relationship ManagementCompensationCompensation 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.For jobs in San Francisco, please click "here" for information regarding the San Francisco Fair Chance Ordinance.For jobs in Los Angeles, please click "here" for information regarding the Los Angeles Fair Chance Initiative for Hiring Ordinance.To view the "EEO is the Law" poster click "here". This poster provides information concerning the laws and procedures for filing complaints of violations of the laws with the Office of Federal Contract Compliance ProgramsTo view the FMLA poster, click "here". This poster summarizing the major provisions of the Family and Medical Leave Act (FMLA) and telling employees how to file a complaint.It is the Company's policy to employ the best qualified individuals available for all jobs. Therefore, any discriminatory action taken on account of an employee's ancestry, age, color, disability, genetic information, gender, gender identity, gender expression, sexual and reproductive health decision, marital status, medical condition, military or veteran status, national origin, race (include traits historically associated with race, including, but not limited to, hair texture and protective hairstyles), religion (including religious dress), sex, or sexual orientation that adversely affects an employee's terms or conditions of employment is prohibited. This policy applies to all aspects of the employment relationship, including, but not limited to, hiring, training, salary administration, promotion, job assignment, benefits, discipline, and separation of employment.

Keywords: Allstate Insurance, Chicago , Intermediate Portfolio Manager, Government Bonds and Cross-Asset Derivatives, Executive , Chicago, Illinois