Assistant Portfolio Manager

Workforce Classification:

Join Our Team: Do Meaningful Work and Improve People’s Lives 

Our purpose, to improve customers’ lives by making healthcare work better, is far from ordinary. And so are our employees. Working at Premera means you have the opportunity to drive real change by transforming healthcare.

Premera is committed to being a workplace where people feel empowered to grow, innovate, and lead with purpose. By investing in our employees and fostering a culture of collaboration and continuous development, we’re able to better serve our customers. It’s this commitment that has earned us recognition as one of the best companies to work for. Learn more about our recent awards and recognitions as a greatest workplace.

Learn how Premera supports our members, customers and the communities that we serve through our Healthsource blog:  https://healthsource.premera.com/.

As the Assistant Portfolio Manager, you will support the strategic oversight of the investment and treasury functions for Premera Blue Cross and its subsidiaries, managing a portfolio of more than $4 billion in invested assets. This role supports the development and execution of investment strategies, ensures compliance across balance sheet, pension, and other corporate assets and contributes to effective cash and risk management programs. You will apply strong financial modeling and analytical skills, communicate complex financial and strategic concepts, and collaborate closely with internal partners who rely on treasury services. The Assistant Portfolio Manager works directly with the VP, Treasury & Investments as part of a small, highly visible team. This role provides the opportunity to make a significant impact while directly advancing Premera’s mission through effective management of investment reserves, ensuring our organization’s ongoing financial stability.

What you’ll do:

• Assist in the hiring and monitoring of outside investment managers regarding performance related to investment objectives and compliance with investment guidelines.
• Contribute to development of investment strategy for all asset portfolios (insurance reserves, pension funds, non-qualified funds).
• Contribute to asset allocation recommendations brought to the CFO and Investment Committee.
• Assist in communication with outside investment managers and consultants to include rebalancing instructions, data requests, administrative, and other portfolio management activities.
• Monitor portfolio risk utilizing publicly available economic information and an understanding of investment objectives and constraints.
• Perform qualitative and quantitative research to support investment recommendations and assist in preparation of recommendation presentations.
• Support VP, Treasury & Investments with investment operations, including trade/rebalancing activity, relevant paperwork and confirmations, reporting and other ad hoc tasks.
• Assist the VP in the review and completion of trust, subscription, and operating documents for private investments.
• Support the materials preparation for quarterly Investment Committee meetings for all Premera entities.
• Acts as liaison to the Investment Accounting department supporting all monthly, quarterly, and annual reporting as well as audit responses and other requirements.
• Execute cash management program to meet the company liquidity requirements, to include collateral management, portfolio rebalancing, and cash forecasting.
• Participate in professional development opportunities through work assignments, special projects, further education, and feedback.
• Prepare and deliver presentations to all levels of management as necessary.

What you’ll bring:

• Bachelor's degree in Finance, Accounting, Economics, or related (Required)
• Passed Level I of CFA (Required)
• (4) + years of investment management or investment operations experience (Required)
• Demonstrate knowledge of fixed income investing (bond market) (Required)
• Experience with Bloomberg (Required)

• Experience in evaluating non-traditional investments, including alternatives, opportunistic/out-of-favor, complex, high value-add opportunities.
• Treasury management experience
• Experience with general ledger and investment accounting software (such as Workday, Clearwater, or similar applications).

Premera total rewards

Our comprehensive total rewards package provides support, resources, and opportunities to help employees thrive and grow. Our total rewards are more than a collection of perks, they're a reflection of our commitment to your health and well-being. We offer a broad array of rewards including physical, financial, emotional, and community benefits, including:

• Medical, vision, and dental coverage with low employee premiums.

• Voluntary benefit offerings, including pet insurance for paw parents.

• Life and disability insurance.

• Retirement programs, including a 401K employer match and, believe it or not, a pension plan that is vested after 3 years of service.

• Wellness incentives with a wide range of mental well-being resources for you and your dependents, including counseling services, stress management programs, and mindfulness programs, just to name a few.

• Generous paid time off to reenergize.

• Looking for continuing education? We have tuition assistance for both undergraduate and graduate degrees.

• Employee recognition program to celebrate anniversaries, team accomplishments, and more.

For our hybrid employees, our on-campus model provides flexibility to create your own routine with access to on-site resources, networking opportunities, and team engagement.

• Commuter perks make your trip to work less impactful on the environment and your wallet.

• Free convenient on-site parking.

• Subsidized on-campus cafes make lunchtime connections with colleagues fun and affordable.

• Participate in engaging on-site activities such as health and wellness events, coffee connects, disaster preparedness fairs and more.

• Our complementary fitness & well-being center offers both in-person and virtual workouts and nutritional counseling.

• Need a brain break? Challenge someone to a game of shuffleboard or ping pong while on campus.

Equal employment opportunity/affirmative action:

Premera is an equal opportunity/affirmative action employer. Premera seeks to attract and retain the most qualified individuals without regard to race, color, religion, sex, national origin, age, disability, marital status, veteran status, gender or gender identity, sexual orientation, genetic information or any other protected characteristic under applicable law.

If you need an accommodation to apply online for positions at Premera, please contact Premera Human Resources via email at [email protected] or via phone at 425-918-4785.

The pay for this role will vary based on a range of factors including, but not limited to, a candidate’s geographic location, market conditions, and specific skills and experience.

The salary range for this role is posted below; we generally target up to and around the midpoint of the range.

National Plus Salary Range:

*National Plus salary range is used in higher cost of labor markets including Western Washington and Alaska.

We’re happy to discuss compensation further during the interview because we believe that open communication leads to better outcomes for all. We’re committed to creating an environment where all employees are celebrated for their unique skills and contributions.