Job Details | Senior Manager - Risk - (Job Number: 000ASA)

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Allstate Insurance Corporation

 Location: Northbrook, IL 60062 Document ID: A4294-1HMJ Posted on: 2010-11-0111/01/2010 Job Type: Regular

Job Schedule:Full-time
2010-12-01
 

Senior Manager - Risk - (Job Number: 000ASA)

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 highly diverse workforce.
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
The Senior Manager, Risk will work in partnership with the Chief Risk Officer to monitor and analyze the organization's overall risk exposure, focusing on factors such as currency risk, interest rate risk, and industry/sector risk. This individual will also direct staff activity to monitor and analyze risk exposures on a day-to-day and long-term basis and recommend actions to reduce risk, including the development of hedging strategies.
In alignment with corporate goals, specific responsibilities for the Senior Manager, Risk will include:
  • Assisting the Chief Risk Officer (CRO) in the development and execution of policies and procedures that mitigate various types of risk;
  • Adhering to investment objectives and guidelines, including: segment/exposure risk; pricing and valuation risk (particularly as it relates to non-marketable and thinly traded securities and derivatives); credit & counterparty risk and execution & trading risk;
  • Supporting and acting in coordination with the CRO to provide counsel to CIO, portfolio management, asset management, research, finance, compliance staff and members of corporate risk organization on risk management issues; and
  • Supporting the CRO in the preparation and presentation of information to risk management committee with other members of senior management, and may assist in the organization's liaison with external regulatory or legal bodies on risk management issues.
This role will have accountability for supporting and helping to development and implement industry best practices commensurate to the size and risk profile of the organization and aligned with the Allstate's risk management approach including;
  • Assisting in the creation and implementation of a framework for analyzing alternative investment and risk scenarios and hedging strategies;
  • Overall responsibility for broad and specialized risk management areas (e.g., market risk, credit risk);
  • Providing leadership in developing, implementing and communicating risk-related policies and procedures;
  • Assisting in the design and/or development of quantitative/analytic models to help monitor and manage risk;
  • Responsibility for monitoring and analyzing the organization's risk exposure individually, in the aggregate and against established limits, on an intraday, day-to-day and long-term basis;
  • Collaborating with Research and Analytics and Investment Finance to influence reporting on investment performance;
  • Evaluating existing, and developing consistent approaches to, and processes for, managing investment risk; and
  • Setting limits, ensuring risks are adequately quantified, monitored, and reported so that the senior management is aware of and understands all the significant market risk and risk positions of the firm.
The most significant challenges for the Senior Manager, Risk for the first 12 months include:
  • Learning the organization, culture and processes; gaining the respect of the business' leadership team;
  • Establishing credibility with and earning the trust of the business unit management team, to whom this executive will have a high level of visibility;
  • Improving financial results for the business unit
  • Effectively developing and mentoring the team to build broad and deep bench strength in the financial function.
  • Further integrating the functions of Research and Analytics and Finance with Risk, and improving the effectiveness of organizational research and analysis efforts to support strategic objectives.

Qualification

The successful candidate will have six or more years of management or related investment management experience, and a graduate degree. A CFA and MBA, or advanced degree in finance or related field, are highly desired, but are not required. The ideal candidate will also have the following professional traits:
  • Thorough knowledge of trading strategies and market characteristics (e.g., liquidity, volatility); and
  • Ability to clearly communicate, interview and constructively challenge senior level management and other investment professionals on investment related topics.
The Senior Manager, Risk will be a creative and innovative thinker, an influential change leader, and manager. This individual will conduct research and supervise a team of risk analysts in an assigned area. The role requires leading and developing an effective team, and work environment that cultivates inclusive diversity, through communication, performance management, development plans and reward/recognition practices.
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.
A competitive compensation and benefits package will be provided, including an attractive base salary and annual target bonus opportunity.
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.

Allstate Corporation is an Equal Opportunity Employer.

     
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