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Allstate Insurance Corporation
Location: Northbrook, IL 60062 Document ID: A4291-1GNV Posted on: 2010-11-0811/08/2010 Job Type: RegularJob Schedule:Full-time
2010-12-08
Private Equity Principal/Senior Associate - (Job Number: 000AU7)
The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held personal lines insurer. Widely known through the "You're in Good Hands with Allstate " slogan, Allstate helps individuals in more than 17 million households protect what they have today and better prepare for tomorrow through approximately 14,700 exclusive agencies and financial specialists in the United States and Canada. By leveraging Our Shared Vision, Allstate is committed to strong principles of the highest ethical standards and encourages individual accountability. Allstate realizes success through innovative thinking while providing challenging and collaborative work for its 70,000 employees. Allstate demonstrates a commitment to diversity through a variety of ways and continues to identify the requirements for future success since it was founded in 1931.
Allstate Investments, LLC strives to provide sustainable, competitive, risk-adjusted investment returns and investment-related services for the benefit of the Allstate Corporation. We work in direct partnership with the leaders of our major lines of business to develop uniquely tailored investment strategies aligned to their needs. Our business model provides the foundation for daily decision-making and effective management of a portfolio comprised of $100 Billion in assets. The 400 professionals within Allstate Investments, LLC represent a wide variety of disciplines including taxable fixed income, tax-exempt fixed income, equities, private securities, commercial mortgages and derivative asset classes as well as accounting, finance and technology. Investment performance for our three major portfolios has consistently provided excess returns for our customers and we attribute that success in large part to the quality of our people. 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. For additional information about Allstate Investments, LLC, visit our website at www.AllstateInvestments.com
Hear what current employees have to say about working at Allstate: www.allstate.com/Allstate/content/refresh-videos/HR/Allstate_General_Hiring.wmv!
Area of Responsibility:
The Senior Associate, Private Equity, is responsible for leading the identification, evaluation and execution of investment opportunities in key alternative investment categories (buyout, mezzanine, distressed, growth, venture capital, and others). Allstate participates in these markets through limited partnership (fund) and direct investments, typically alongside leading sponsors around the world. The candidate will also become actively involved in the ongoing management of an existing portfolio of over $2.5 billion of alternative investments, and assume day-to-day responsibility for several pre-existing fund relationships.In alignment with corporate goals, specific responsibilities for the Senior Associate, Private Equity, will include:
- Perform quantitative and qualitative analysis used in the underwriting of potential alternative investment opportunities.
- Prepare internal memoranda and other materials used to support investment recommendations and to communicate with internal constituents.
- Closely monitor the performance of existing portfolio investments, including regular communication with financial sponsors and management teams.
- Develop and manage relationships with financial sponsors and other intermediaries to generate increased deal flow.
- Provide regular reporting on investments to client base.
- Evaluate market conditions in existing and potential new alternative investment categories. Recommend strategies to support asset allocation decisions related to these categories.
Challenges within the First 12 Months:
The most significant challenges for the Senior Associate, Private Equity, for the first 12 months include:
- Learning the organization, culture and processes; gaining the respect of the Investments asset management leadership team;
- Establishing credibility with and earning the trust of the Private Equity leadership team, to whom this position will have a high level of visibility.
Qualification
Professional and Educational Background:
The successful candidate will have an MBA and at least five years of work experience within the capital markets, including 2-3 years post-MBA. Post-MBA experience will ideally include working in a similar position or having worked for a private equity sponsor. Pre-MBA experience in investment banking or sponsor-related lending is a definite plus. CFA designation desired, but not required.
The ideal candidate will also have the following professional traits and experience:
- Proven ability to drive multiple investment decisions in a time critical, transaction oriented environment. (Advanced);
- Excellent verbal and written communication skills and the ability to clearly communicate, interview and constructively challenge senior level management and other investment professionals on investment related topics; (Advanced);
- Willingness to work hard in a highly collaborative team-oriented, performance-based environment. (Advanced);
- A self starter that requires limited oversight in the completion of individual projects. (Advanced);
- Well-developed research, analytical, and critical thinking skills (Intermediate);
- Knowledge of, and ongoing interest in, current trends, success factors, participants and terms in private equity and related alternative investment markets (Intermediate);
- Demonstrated experience developing and using financial statement analysis and financial modeling (Intermediate);
- Well developed knowledge of accounting and finance (Intermediate);
- Previous work experience should include completion of a strong credit training program;
- Significant travel required.
Leadership Requirements and Pesonal Traits:
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 that results 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.
Compenstation and Benefits Package:
A competitive compensation and benefits package will be provided, including an attractive base salary and annual target bonus opportunity based on the company's and the individual's 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;
- Retirement program and 401k;
- Tuition reimbursements for further education opportunities;
- Paid time off days.
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