VP, External Investment Management – Public Equities

Overview

FM is a leading property insurer of the world's largest businesses, providing more than one-third of FORTUNE 1000-size companies with engineering-based risk management and property insurance solutions. FM helps clients maintain continuity in their business operations by drawing upon state-of-the-art loss-prevention engineering and research; risk management skills and support services; tailored risk transfer capabilities; and superior financial strength. To do so, we rely on a dynamic, culturally diverse group of employees, working in more than 100 countries, in a variety of challenging roles.

Responsibilities

This is a senior role, working closely with the Portfolio Manager, External Investment Management – Public Markets, Senior PM’s, Chief Investment Officer (CIO), and other senior Investments leaders and staff, across asset classes, with a primary focus on public equities investments with our external investment management partners. The assets under collaborative management would be $3Bil. or higher. This role will work closely with other Public and Private Markets PM’s, the Asset Allocation, Strategy group, and Investment Operations. This key role will also collaborate in helping manage broad and/or specific aspects of portfolio construction related to the external mandates in public equities. Responsibilities will also include leading and enabling, and where relevant collaboration on risk and performance analytics across public equities – US, International and Global. The incumbent will also be leading periodic investments, economic and financial markets-related projects and initiatives related to asset allocation activities, and also necessitate collaboration with internally managed portfolio management leadership as well, as they relate to public equities.

 

The role will have a small staff group of generalists and specialists, as needed, and also will have the opportunity to work with other team leaders within Investments, to onboard top talent, including summer interns and rotation hires. The role’s focus will primarily be public markets investments in equities that are managed by external investment management firms. The role will have people management responsibilities, with junior and/or mid-level direct reports for investment diligence purposes, and/or different equities buckets as necessary, and will rely on the Investment analytics team and external services as well for equities managers diligence activities. The externally managed public equities portfolio has investments across a very wide range of geographies, styles and strategies. The role is expected to be very proficient with concepts including but not limited to factor exposures, equity investment styles, structuring and effective use of investment vehicles. While equities will be the primary focus, a good understanding of multi asset investing principles is even more helpful to succeed in this role.

 

The role requires extensive expertise and experience in constructing portfolios with public equity investment products with a strong understanding of the objectives of the overall investment process. The role will have primary ownership of portfolio performance across external public equities mandates, serve as an important interface contact for the investment team with the external investment managers and will manage a significant part of the existing and new relationships. This includes researching new investments, new and existing manager diligence and underwriting, allocation or reallocation decisions, communication to and from managers. Key responsibilities include ownership and accountability of performance and risk of the portfolio for this role. The role will also bring in best practices, macro-economic and market outlook to the broader portfolio. The role will closely work with investment operations, legal, tax and other support functions to ensure a seamless collaborative management of the external public equity portfolio, with full individual accountability and responsibility of the portfolio’s performance and optimal construction.

 

Externally managed public equity portfolio construction. Work with Asset Allocation to define focus areas for strategy selection, manager diligence

Monitor current portfolio and strategies to determine if they are designed optimally

 

Develop strong understanding on sources of excess return. External Manager diligence, selection and underwriting and monitoring. Build and maintain relationships with existing and new investment management partners

 

Have periodical portfolio review meetings, calls to stay updated on performance and it’s drivers, risk, views and positioning. Explain drivers of performance to investment leadership. Recommend portfolio actions. Collaborate with performance analytics for better return and attribution reporting, and work with risk and quantitative analysis