Under general direction and with significant independence, leads the company's investment function and develops and delivers investment results for the company's property and casualty insurance general account and surplus assets. Develops and executes portfolio strategy, asset allocation, implementation, risk oversight, outside investment manager relationships, and reporting across all asset classes appropriate for an insurance company. Develops surplus growth strategies and income opportunities while balancing capital preservation, liquidity, liability characteristics, regulatory requirements, and risk tolerances.
Partners with Treasury, Accounting, Finance, Actuarial, Enterprise Risk, and other stakeholders to align investment strategy with the company's liquidity, capital, liability, and financial objectives. The role has significant flexibility and independent judgment in how investment objectives are developed and executed and presents strategy, results, risks, outlook, and recommendations to senior management and the Board of Directors.
Principal Duties and ResponsibilitiesDevelop, recommend, and execute investment strategy for property and casualty general account and surplus assets, including asset allocation, duration, credit quality, liquidity, income, and total return objectives, consistent with investment policy and the company's capital, liability, and liquidity requirements.
Independently identify, evaluate, and implement investment opportunities across all appropriate asset classes, including surplus growth and income strategies, while balancing expected return, capital preservation, liquidity, liability characteristics, regulatory requirements, and risk tolerances.
Monitor portfolio performance, market and credit risk, liquidity, concentration, compliance, and GAAP and Statutory implications; conduct scenario analysis and recommend timely portfolio actions.
Select and oversee outside investment managers, consultants, custodians, and other investment partners; establish and evaluate mandates, performance expectations, fees, guidelines, compliance, risk, and organizational changes.
Use FactSet, Bloomberg, BondEdge, and related systems for market research, portfolio analytics, performance attribution, risk analysis, forecasting, management reporting, and data integrity.
Develop investment reporting, analysis, and recommendations for senior management and the Board of Directors regarding portfolio strategy, performance, risk, market conditions, and outlook.
Partner with Treasury to align investment portfolio positioning with enterprise liquidity, funding, and capital requirements, and collaborate with Accounting, Finance, Actuarial, Enterprise Risk, rating agencies, and other stakeholders regarding investment strategy and results.
Oversee adherence to the company's investment policies and guidelines and recommend changes to investment policy, guidelines, limits, or governance practices based on market conditions, portfolio needs, regulatory requirements, and company objectives.
Provide leadership and direction for investment staff, including establishing priorities, developing capabilities and talent, and ensuring effective execution of the company's investment strategy.
Typically requires a bachelor's degree in finance, accounting, economics, business, or a related field
10+ years of progressively responsible investment management experience
Direct experience managing property and casualty insurance company general account assets, with accountability for portfolio strategy, implementation, and performance.
CFA designation and/or MBA preferred.
[OR] equivalent level of education and experience
Broad understanding of all asset classes appropriate for an insurance company, including public and private fixed income, cash and short-term investments, public equities, real estate, private markets, and alternatives permitted by investment policy.
Strong knowledge of property and casualty insurer investment considerations, including asset-liability management, liquidity, capital preservation, statutory and GAAP accounting, regulation, and rating agency considerations.
Advanced proficiency with FactSet, Bloomberg, and BondEdge or equivalent systems is desired; advanced Microsoft Excel skills are also required.
Demonstrated ability to develop surplus growth strategies and identify sustainable income opportunities while managing risk and liquidity.
Experience evaluating and overseeing outside investment managers, including due diligence, mandate design, performance review, fee assessment, and relationship management.
Excellent written and verbal communication skills, with the presence and judgment to present complex investment matters clearly and confidently to senior management and the Board of Directors.
Demonstrated executive judgment, initiative, and accountability; ability to independently develop recommendations, make investment decisions within delegated authority, and deliver portfolio results with limited supervision.
Ability to synthesize data, solve complex problems, make well-supported decisions, and collaborate effectively with internal and external stakeholders.
- Annual bonus plans
- Employee stock ownership plan (ESOP)
- 401(k) — automatic 3% company contribution
- Annual 401k and ESOP profit-sharing contributions (Up to 15% of eligible earnings)
- Paid time off (PTO) and holidays
- Paid volunteer time off (VTO) to support our communities
- Parental and family care leave
- Flexible & hybrid work arrangements
- Fitness center discounts and free virtual fitness platform
- Employee assistance program
- Comprehensive medical, dental and vision benefits
- Flexible spending and health savings accounts
- 2x base salary for group life and AD&D insurance
- Voluntary life, critical illness, & accident insurance for purchase
- Short-term and long-term disability benefits
- Training & certification opportunities
- Tuition reimbursement
- Education bonuses
Skills Required
- Bachelor’s degree in finance, accounting, economics, business, or a related field
- 10+ years of progressively responsible investment management experience
- Direct experience managing property and casualty insurance company general account assets
- Experience with portfolio strategy, implementation, and performance accountability
- Broad understanding of public and private fixed income, cash and short-term investments, public equities, real estate, private markets, and alternatives
- Strong knowledge of property and casualty insurer investment considerations, asset-liability management, liquidity, capital preservation, statutory and GAAP accounting, regulation, and rating agency considerations
- Advanced Microsoft Excel skills
- Experience evaluating and overseeing outside investment managers, including due diligence, mandate design, performance review, fee assessment, and relationship management
- Excellent written and verbal communication skills, including presenting complex investment matters to senior management and the Board
- Executive judgment, initiative, accountability, and ability to make investment decisions independently within delegated authority
- Ability to synthesize data, solve complex problems, make well-supported decisions, and collaborate with stakeholders
- CFA designation
- MBA
What We Do
RLI is a U.S.-based specialty insurer that serves niche property, casualty and surety markets. We provide peace of mind to the customers we serve by safeguarding their assets and helping them manage risk. We hire smart, ethical people, make them owners of the business and give them the freedom to succeed. These are the principles that drive our success, and they’re the reasons we have been successful for more than 50 years. We believe in a different way of doing business and RLI is not what you’d expect from a typical insurance company. Our creative and collaborative workplace is cultivated by employee owners empowered to make good decisions for customers and the business. We have a reputation for niche expertise, superior service and an entrepreneurial culture. In the industry and among our peers, we’re known for: The best and brightest people in the industry who build strong relationships and provide outstanding service. An underwriting focus so we perform well in all market cycles. Our empowered, creative ownership culture. A customized approach to developing insurance products to meet very specific needs. Proven financial strength.
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