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U.S. Portfolio Management (“USPM”) is responsible for the management of U.S. investment portfolios. The Investment Vice President - ALM within USPM is strongly aligned with the Business Unit ("BU") for which they provide portfolio management services. USPM seeks to achieve the objectives of these BU clients by:
- Maintaining a deep understanding of the structures of insurance company liabilities and their asset/liability management needs;
- Developing strategic and tactical asset allocations, primarily utilizing Prudential Investment Management asset origination capabilities;
- Consistently applying a disciplined risk management framework; and
- Ensuring portfolios are broadly diversified across asset classes, industry sectors, geographic regions, and issuers.
The VP, ALM will support one of our Domestic Business Units and will report directly to the Portfolio Team Lead.
In performing this role, the VP, ALM will operate under guidelines and limits set by Prudential's Senior Asset Liability Committee (Senior ALCO), the Investment Committee of Prudential's Board of Directors, as well the Investment Risk Management organization.
The VP, ALM will be primarily responsible for:
- Developing the Strategic Asset Allocation ("SAA") recommendations for the various investment segments;
- Executing relevant Tactical Asset Allocation ("TAA") opportunities;
- Engaging in liability pricing and model development in conjunction with the BU pricing team; and,
- Demonstrating expertise in communicating the investment component of reported Business earnings (AOI, ROE and supporting measures)
The VP, ALM as an integral part of the BU Leadership Team, serves as an advocate for the BU in asset origination and allocation discussions and participates in BU planning and management meetings and attends financial review sessions.
Additional Responsibilities Include:
- Managing cash flow/duration
- Managing within credit risk limits, and complying with segment IPS and Company guidelines
- Delivering investment income results, attribution and forecasting in conjunction with ALM Finance
- Anticipating and managing around significant cash flow mismatches
- Providing investment reporting as required by the BU
- Providing input to investment assumptions that underlie successful product pricing
- Implementing of Company-Level investment / planning strategies including assessment of long-term impact on BU financial performance
- Maintaining communication and coordination with the other members of USPM
Participating in USPM-directed projects
The ideal candidate qualifications include:
- A minimum of 7 years of relevant asset-liability management, portfolio management and experience managing a large investment portfolio.
- A minimum of 12 years of investment management expereince.
- Strong working knowledge of varying liability structures
- Effective communicator, coordinator and thought-partner; comfortable and effective partnering with senior level executive team
- Strong presentation skills and ability to meet with external clients as needed
- A can-do, problem solving, positive attitude
- Strong project management skills
- Significant management and leadership experience
- MBA and/or CFA designation required