1+ months

Asset Allocation Portfolio Management Director

Brighthouse Financial
Boston, MA 02108
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  • Job Code
Req Id: 2964
Job location: Boston, MA, US, 02108

Brighthouse Financial is on a mission to help people achieve financial security. As one of the largest providers of annuities and life insurance in the U.S., we specialize in products designed to help people protect what they've earned and ensure it lasts. We are built on a foundation of experience and knowledge, which allows us to keep our promises and provide the value they deserve.

At Brighthouse Financial, we're fostering a culture where diverse backgrounds and experiences are celebrated, and different ideas are heard and respected. We believe that by creating an inclusive workplace, we're better able to attract and retain our talent, provide valuable solutions that meet the needs of our advisors and their clients, and deliver on our mission of helping more people achieve financial security. We're se eking passionate, high-performing team member to join us. Sound like you? Read on.

How This Role Contributes to Brighthouse Financial:

The Investment Research and Analysis Group oversees the investment activities in over 70 proprietary portfolios totaling over $110 billion of assets under management. These activities include fund manager due diligence and monitoring across retail equity, fixed income, and multi-asset funds. The Group is also responsible for a fund-of-funds portfolio management platform which develops, manages and maintains asset allocation portfolios across the risk spectrum using the proprietary funds available through Brighthouse Investment Advisors (BIA, the '40-Act Advisor unit within the broader Brighthouse organization). The Investment Research and Analysis Group partners with many key areas across the firm, in particular, the Distribution and Marketing organization.

The Asset Allocation Portfolio Management Director will report to the Head of Investment Research and Analysis. This person will lead the asset allocation effort supporting the asset allocation portfolios within the Brighthouse Trusts, which are 1940-Act regulated funds. Accordingly, this person will be responsible for reporting fund characteristics and performance to an independent fund Board. This person will be responsible for ensuring that Brighthouse is providing the most competitive and comprehensive services available as we look to protect and grow our asset allocation franchise.

Key Responsibilities:
  • As a key member of the Asset Allocation Committee, as well as a listed Portfolio Manager on multiple registered funds, this role will be accountable for monitoring and evaluation of investment strategies in a $40+ billion asset allocation franchise. Portfolio management duties include cultivating a detailed understanding of the myriad quantitative and qualitative issues impacting individual strategies, interaction effects at the fund-of-funds level and identification of areas of concern.
  • Work closely with third party consultant and other sources to formulate capital market assumptions. Develop and evolve model parameters and constraints in an optimization framework to produce updated asset allocation recommendations across major asset classes, subclasses and exposures. Analyze and effectively communicate portfolio impacts from changing marginal exposures, including how risk contributions could be altered by fund replacement and/or portfolio sizing adjustments.
  • Meet with and evaluate the capabilities of investment managers (including calls with the portfolio management teams, in-office visits and on-site due diligence) and take an active role in the search and selection process with an eye towards the potential benefits of including in the asset allocation programs.
  • Utilize/enhance third-party and proprietary quantitative models that are used to optimize the risk/return profile of the asset allocation models. Utilize investment database software (i.e., Morningstar Direct, Bloomberg, Aladdin et al) to aid in the evaluation of managers and in the formulation of recommendations. Ideally, candidate will be able to help automate certain processes within third-party analytical systems and also in Excel.
  • The experienced candidate may find opportunities to develop new tools, techniques or processes that may serve to enhance the decision-making quality of the Asset Allocation Committee.
  • Provide analytical support to the Asset Allocation Committee to help assess the success of the Asset Allocation Portfolios, from both an investment performance perspective as well as a business perspective.
  • Support sales and service activities for internal wholesalers and third-party intermediaries to help support uptake of the asset allocation portfolios.
  • Effectively communicate and promote our investment philosophy to clients, consultants, and internal constituents. Speak with conviction on main themes governing portfolio outcomes and rationale for existing construction.
  • Work with investment marketing and supporting areas to ensure the delivery of prompt and accurate performance reporting and other investment related communications for client, consultant, and wholesaler requests.
  • Continuous monitoring of industry best practices, as well as practitioner and academic research landscape as it relates to asset allocation to better inform the investment process.
  • Maintain strong knowledge and expertise of Brighthouse product line to ensure high quality analysis to senior management.
  • Support the coordination, preparation, and timely delivery of materials for quarterly Board meetings. Generate narrative to explain the main drivers of outperformance or underperformance at both fund-of-funds and individual fund levels, including attribution analysis.
  • Work in concert with Legal and Compliance to support the review and proof-reading process of prospectuses and semi and annual reports.
  • Evaluate impacts of derivative instruments/strategies implemented as a principal strategy or an overlay in any new or existing portfolio, and understand derivatives market trends and regulatory environment (i.e., Rule 18f-4, use of Cayman subsidiaries, etc.)
  • Oversee special requests as necessary.

Essential Business Experience and Technical Skills:
  • Bachelors Degree minimum. Significant coursework in finance or mathematically-related discipline a plus.
  • CFA/CAIA/FRM/CIMA or demonstrated progress to top institutional investment-level industry designation is a plus.
  • MBA or Master's Degree, especially with significant coursework in finance or mathematically-related discipline a plus.
  • Proficiency with investment analytics such as Bloomberg, Morningstar and Aladdin, with strong preference for experience in using data automation/API tools.
  • Knowledge of basic mean-variance optimization models required; experience with other portfolio optimization approaches in addition is desirable. Third-party optimization software experience is expected, but additional knowledge of the issues occasionally arising in proprietary optimization applications is ideal.
  • Expert user of Microsoft Excel. Demonstrated ability to illustrate data visually using appropriate charts, graphs and tables. VBA experience a plus.
  • 8+ years of investment management, investment consulting, or client service-related experience.
  • Series 7 preferred.
  • Demonstrable knowledge of various investment managers / fund complexes, products and styles across all asset classes.
  • Knowledge of insurance business dynamics, especially within variable annuities, is a plus.
  • Must be willing to travel.
  • Mature self-starter and detail-oriented team player with excellent research, communication (written and verbal) and organizational skills.
  • Must be able to work independently and in a team environment.
  • Strong presentation and writing skills a plus.

Our Benefits:
  • Time Off: Minimum of 20 days of paid time off and 13 paid company holidays per full calendar year, plus paid volunteer time
  • Financial Benefits: 401(k) savings plan with up to a 6% annual match and 3% annual company nondiscretionary contribution of eligible compensation, annual incentive plan, and employee stock purchase plan
  • Family Focus: Up to 16 weeks of paid leave for new parents, back-up care program, dependent care flexible spending account, and adoption and surrogacy assistance
  • Health and Welfare: Competitive medical, vision and dental plans, plus tax-free health savings accounts with potential company contributions up to $1,000 per family
  • Wellness Programs: Wellness incentive platform, employee assistance program, financial counseling services, fitness center discounts and more
  • Life & Disability Benefits: Company-paid basic life insurance and short-term disability

Posted: 2020-12-22 Expires: 2021-01-23

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Asset Allocation Portfolio Management Director

Brighthouse Financial
Boston, MA 02108

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