Intermediate Analyst - High Yield/Leveraged Loans Public Asset Group

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 Description

As part of Allstate Investments’ Below Investment Grade (BIG) exposure, we invest in high yield bonds and broadly syndicated bank loans for Allstate general accounts. We also manage Collateralized Loan Obligations (CLOs) under the AIMCO name. Our people, process, and the broader Allstate enterprise have been key ingredients to our collective success. We win with a collaborative team effort anchored by our proprietary credit process, which has led to a strong performance track record through investment cycles across all mandates.

Allstate Investments’ Public Asset Group is seeking an intermediate analyst to join our credit research team as a generalist that supports our High Yield/Leveraged Loan (CLOs) mandates.

The intermediate analyst role involves underwriting leveraged credit investments and making recommendations based on a thorough understanding of industry and company fundamentals, as well as valuation. Our process is very team-oriented, so the ability to work well within the group is critical. The goal of the research team is to help deliver the best possible results for our clients. This job involves working closely with portfolio managers, developing investment themes, credit analysis and relative value recommendations.

Responsibilities:

The Intermediate Analyst will be expected to focus on the following:

• Perform quantitative and qualitative analysis to support the underwriting of potential investment opportunities through our proprietary credit process, which is anchored around building detailed company specific financial models and forecasts in addition to understanding business and industry drivers, competitive positioning, and management/equity sponsor strength; this is often on an accelerated time frame.
• Consistently affirming recommendations to Portfolio Managers that drive relative return performance as valuation shifts.  For existing issues, this includes reviewing quarterly operating results, writing credit reviews and updates, updating financial models, reviewing fundamental and secular outlooks, and monitoring changes in prices and spreads.
• Contributing to the improvement of the overall investment process by continually exploring new ideas, processes and technologies that will benefit the group.
• Provide support for internal and external communications on an as-needed basis.
   

Challenges within the first 12 months:

The most significant challenges for the Intermediate Analyst for the first 12 months include:

• Learning our proprietary credit process.
• Integrating into our organization and culture.
• Establishing credibility with the Portfolio Managers and other asset teams within Allstate.
• Developing sufficient knowledge of current portfolio holdings to preserve strong. financial performance and seek attractive investment opportunities for the portfolios.

Educational Background:

• A bachelor’s degree in accounting, finance, or economics with strong academic performance; MBA and/or CFA a plus.

Professional Background:

Experience:

• Three to five years of investment experience with a focus on leveraged credit.

Skills Required:

• Strong financial modeling skills coupled with a solid understanding of finance, economics and market cycles.
• Strong interpersonal skills and willingness to be a reliable team player, build trust and confidence. through collaboration with a wide range of internal and external colleagues.
• Ability to work independently; efficiently prioritize workstreams.
• Strong work ethic and communication skills.
• Advanced Excel skills, Bloomberg.
• Investment banking and/or formal credit training a plus.

Leadership Requirements and Personal Traits:

The successful candidate will be a change leader and manager. This individual must also have the following personal and professional attributes which are consistent with the Company’s stated values:

• Thrive on change an