Director - Investment Strategy
Northwestern Mutual Investment Management Company, LLC, located in Milwaukee, WI, is a registered investment adviser and wholly owned subsidiary of the Northwestern Mutual Life Insurance Company. The company manages a spread lending business, focused on financing the purchase of well‑matched investment‑grade fixed‑income assets across multiple funding sources, generating profitability on investment income net of financing cost. The Director will lead the strategic asset allocation and spread lending team (SAA & SL Team).
About the Job
This role is responsible for managing Northwestern Mutual's spread lending business, overseen by and alongside the SAA & SL Team lead. The Director will develop and execute spread lending strategy, operations, and investor relations/marketing, and will oversee two direct reports.
What You'll Do
- Develop, execute, and manage spread lending investing and financing strategy, delivering program and profitability objectives.
- Manage funding agreement backed note (FABN), funding agreement backed commercial paper (FACP), and Federal Home Loan Bank (FHLB) funding programs.
- Enhance investment bank relationships and conduct in‑person investor marketing across U.S. and international cities multiple times annually.
- Execute primary bond market FABN issuance and enterprise coordination.
- Achieve ALM and risk management objectives.
- Develop and grow direct reports.
- Oversee and manage team reports, trackers, weekly pricing, and business projections.
- Oversee and manage team operations including daily cash management, FACP issuance, FABN maturity, and investment deployments.
- Produce internal and external spread lending communications and reporting.
- Maintain strong working relationships across the department, function, and enterprise.
What You'll Bring to the Role
- Bachelor's or Master's degree in finance, economics, actuarial science, accounting, computer science/engineering, or related field (or equivalent work experience).
- A professional designation (CFA, ASA, FSA, CPA) is required with a bachelor's degree.
- Multiple years of related and relevant work experience.
- Strong work ethic and communication skills.
- Strong understanding of fixed‑income assets, derivatives, ALM, and risk metrics.
- Understanding of the life insurance and annuity market, FABN market.
- Familiarity with statutory financials, life insurer regulations, and risk‑based capital.
- Intellectual curiosity in insurance, investments, and financial markets.
- Enterprise‑mindset thinking.
Relevant Technical Skills
- MS Office, Excel, Power BI
- Bloomberg, Aladdin
- Snowflake
- Actuarial or ALM modeling software (MG‑ALFA, Prophet, GGY Axis, etc.)
Accountability
Holds self and direct reports accountable for measurable, high‑quality, timely, and cost‑effective results, delivery, and execution. Determines objectives, sets priorities, delegates work to direct reports, and accepts responsibility for mistakes.
Asset Allocation
Constructs diversified public fixed‑income portfolios aligning with the goals, risk tolerances, financial objectives, and investment horizon of the client by allocating across multiple asset classes, sectors, sub‑sectors, and, for structured products, deal types, subject to internally and externally imposed investment constraints.
Cross‑Functional Partnering & Planning
Facilitates collaboration, communication, coordination, and planning with individuals and teams from different functions within the organization, and who have different areas of expertise, to achieve common goals.
Decision Making
Makes timely, data‑driven decisions by understanding the probability of success, identifying risks, gathering business requirements, and developing value statements.
Financial Market Monitoring
Consistently tracks and analyzes financial market data and news, evaluates trends and events that may impact investment portfolios or financial decisions, and makes informed decisions based on this information. Stays up to date on economic indicators, market news, and global events, and understands how they relate to investment opportunities and risks.
Industry Knowledge
Demonstrates extensive knowledge of common practices, regulatory considerations, market trends and the competitive landscape within a particular industry or sector to better understand and address unique client requirements, challenges, and context.
Risk Management
Identifies risks and conducts risk analysis, prioritizes risks based on level of severity, ensures appropriate reporting, monitoring and control of risks. Drives recommendations and consulting to work toward a resolution. Provides transparency around risks and communicates status and outcomes to appropriate stakeholders.
Compensation Range
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, the location of the candidate, and other factors uncovered in the hiring process. The standard pay structure is listed.
EEO Statement
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.
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