Investment Risk Quantitative Associate III
Company: Northwestern Mutual
Location: Milwaukee
Posted on: May 2, 2025
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Job Description:
BASIC FUNCTION:This position supports the Company's efforts to
measure, monitor and manage investment risk. Provides research,
development, testing and validation of complex quantitative
analytical models used in managing risks across all investment
portfolios. Maintains, operates and enhances systems used to
provide regular portfolio risk analytics. Supports performance
measurement, benchmark development and reporting, and fixed income
analytics. With direction from superiors, performs ad hoc analysis
and modeling to support strategic portfolio management decisions.
Sets strategic direction over a 1-2 year time horizon.Primary
Duties & Responsibilities - Lead the capital market assumption and
economic scenario processes across enterprise initiatives.o Lead
the development of annual capital market assumptions for general
account portfolios. Maintain and evolve the CMA framework; ensure
fit-for-purpose across key stakeholders; create and publish annual
CMA results.o Lead the development of annual economic scenarios for
client planning and wealth management applications. Maintain and
evolve the scenario framework; ensure fit-for-purpose across key
stakeholders; create and publish annual scenario results. - Lead
the execution of investment risk model developmento Research,
develop, validate and maintain the complex quantitative financial
models comprising:o the surplus stress test modelo quant models for
commercial mortgage loans scenario models (CoStar, Trepp)o quant
models for structured asset classes (Intex, Trepp)o Aladdin Risk
quant models (VaR, Credit VaR, default probability)o Credit
Benchmark data to measure and monitor portfolio-wide credit risko
Research and implement emerging risk mitigation techniques, risk
measurement tools, risk modeling methodologies - Perform and
support investment risk analysis, including:o Aggregation of
investment activities across departments for exposure, risk
characteristics, and relative value analysiso Risk/return
characteristics and diversification benefits of new investment
types considering risk/return trade-off and diversification
benefits compared to current investment opportunitieso Developing
of minimum required spreads for risks including liquidity,
sovereign, and credit by sectoro Performing stress test of the
portfolio for market, credit, and liquidity risks while considering
an interaction with insurance liabilities, regulatory, and rating
agency requirementso Evaluating the impact of changing investment
limits and strategieso Lead the development and implementation of
new or enhanced investment risk management techniques, analysis and
procedureso Represent Investment Risk Management in
cross-departmental effortso Present summary reports to leaders
throughout the Company, including the Investment Committee and the
Chief Investment Officer - Derivatives valuation and modelingo
Represents Investment Risk Management's interests in derivative
system development and enhancements, and in implementing new
derivative strategieso Helps to develop complex models to monitor
derivative strategy and portfolio-wide stress testing for
structured securities including OTC derivativeso Keeps abreast of
theoretical quantitative advancements in interest rate and
volatility models - Performance and benchmark analysiso Aggregates
total benchmark risk characteristicso Compares investment
activities across departments for relative value analysiso
Measures, monitors, and reports on out-of-benchmark positionso
Determines appropriate ranges for various investment exposures
based on diversification and risk/reward
characteristicsQualificationsMinimum Requirements: Please check all
that apply for associated persons of Northwestern Mutual Investment
Services, LLC ("NMIS") or Northwestern Mutual Wealth Management
Company ("WMC"): NMIS Non-Registered Fingerprinted (NRF) NMIS
Investment Company Products and Variable Contracts Limited
Representative (FINRA Series 6) NMIS General Securities
Representative (FINRA Series 7) NMIS Investment Company Products
and Variable Contracts Limited Principal (FINRA Series 26) NMIS
General Securities Principal (FINRA Series 24) NMIS Access Person
(NMIS Registered Investment Advisor) WMC Access Person (WMC
Registered Investment Advisor) - MBA or Masters Degree in
quantitative finance, financial mathematics, economics or other
quantitative field - Bachelors degree with a Chartered Financial
Analyst (CFA) designation or other related professional designation
(ex. FSA, CPA, FRM, etc.) - 3-6 years of experience in investment
risk management, portfolio management or related fields - Strong
competencies in finance and advanced mathematics, including
stochastic calculus and probability and statistics; requires proven
technical aptitude. - Broad working knowledge with regard to
valuation and terminology of derivatives and other investment types
(including fixed income, equity, and real estate) - Working
knowledge of cross-departmental risk management issues, such as
asset-liability management, economic capital, corporate stress
testing - High degree of personal initiative, demonstrated ability
to work independently, excellent follow-through ability and sense
of personal accountability - Ability to deal effectively and
professionally with people at all levels#LI-HybridCompensation
Range:Pay Range - Start:$112,210.00Pay Range -
End:$208,390.00Geographic Specific Pay Structure:We believe in
fairness and transparency. It's why we share the salary range for
most of our roles. However, final salaries are based on a number of
factors, including the skills and experience of the candidate; the
current market; location of the candidate; and other factors
uncovered in the hiring process. The standard pay structure is
listed but if you're living in California, New York City or other
eligible location, geographic specific pay structures, compensation
and benefits could be applicable, click here to learn more.Grow
your career with a best-in-class company that puts our clients'
interests at the center of all we do. Get started now!Northwestern
Mutual is an equal opportunity employer who welcomes and encourages
diversity in the workforce. We are committed to creating and
maintaining an environment in which each employee can contribute
creative ideas, seek challenges, assume leadership and continue to
focus on meeting and exceeding business and personal
objectives.FIND YOUR FUTUREWe're excited about the potential people
bring to Northwestern Mutual. You can grow your career here while
enjoying first-class perks, benefits, and our commitment to a
culture of belonging.
Keywords: Northwestern Mutual, Berwyn , Investment Risk Quantitative Associate III, Other , Milwaukee, Illinois
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