Intermediate Analyst - High Yield/Leveraged Loans (Hybrid)

The world isn’t standing still, and neither is Allstate. We’re moving quickly, looking across our businesses and brands and taking bold steps to better serve customers’ evolving needs. That’s why now is an exciting time to join our team. You’ll have opportunities to take risks, challenge the status quo and shape the future for the greater good.

You’ll do all this in an environment of excellence and the highest ethical standards – a place where values such as integrity, inclusive diversity and accountability are paramount. We empower every employee to lead, drive change and give back where they work and live. Our people are our greatest strength, and we work as one team in service of our customers and communities.

Everything we do at Allstate is driven by a shared purpose: to protect people from life’s uncertainties so they can realize their hopes and dreams. For more than 89 years we’ve thrived by staying a step ahead of whatever’s coming next – to give customers peace of mind no matter what changes they face. We acted with conviction to advocate for seat belts, air bags and graduated driving laws. We help give survivors of domestic violence a voice through financial empowerment. We’ve been an industry leader in pricing sophistication, telematics, digital photo claims and, more recently, device and identity protection.

We are the Good Hands. We don’t follow the trends. We set them.

Area Of Responsibility:

As part of Allstate Investments’ Below Investment Grade (BIG) exposure, we invest in high yield bonds and broadly syndicated bank loans for Allstate general accounts. We also manage Collateralized Loan Obligations (CLOs) under the AIMCO name. Our people, process, and the broader Allstate enterprise have been key ingredients to our collective success. We win with a collaborative team effort anchored by our proprietary credit process, which has led to a strong performance track record through investment cycles across all mandates.

Allstate Investments’ Public Asset Group is seeking an intermediate analyst to join our credit research team as a generalist that supports our High Yield/Leveraged Loan (CLOs) mandates.

The intermediate analyst role involves underwriting leveraged credit investments and making recommendations based on a thorough understanding of industry and company fundamentals, as well as valuation. Our process is very team-oriented, so the ability to work well within the group is critical. The goal of the research team is to help deliver the best possible results for our clients. This job involves working closely with portfolio managers, developing investment themes, credit analysis and relative value recommendations.

This position is a hybrid role based out of our Chicago office, meaning your schedule may consist of time in an office setting and time working remotely from your home. The hybrid model is intended to provide greater flexibility – and will mean something different to each team, job and employee. Office presence is driven by the nature of the work and team needs. You’ll work from home for the remainder of the time you’re not in the office. This position is eligible for a monthly connectivity reimbursement to offset the costs of internet and phone expenses.

Key Responsibilities:

The Intermediate Analyst will be expected to focus on the following:

• Perform quantitative and qualitative analysis to support the underwriting of potential investment opportunities through our proprietary credit process, which is anchored around building detailed company specific financial models and forecasts in addition to understanding business and industry drivers, competitive positioning, and management/equity sponsor strength; this is often on an accelerated time frame.
• Consistently affirming recommendations to Portfolio Managers that drive relative return performance as valuation shifts. For existing issues, this includes reviewing quarterly operating results, writing credit reviews and updates, updating financial models, reviewing fundamental and secular outlooks, and monitoring changes in prices and spreads.
• Contributing to the improvement of the overall investment process by continually exploring new ideas, processes and technologies that will benefit the group.
• Provide support for internal and external communications on an as-needed basis.

The most significant challenges for the Intermediate Analyst for the first 12 months include:

• Learning our proprietary credit process
• Integrating into our organization and culture
• Establishing credibility with the Portfolio Managers and other asset teams within Allstate
• Developing sufficient knowledge of current portfolio holdings to preserve strong financial performance and seek attractive investment opportunities for the portfolios.

Functional Skills:

• Strong financial modeling skills coupled with a solid understanding of finance, economics and market cycles
• Strong interpersonal skills and willingness to be a reliable team player, build trust and confidence through collaboration with a wide range of internal and external colleagues
• Ability to work independently; efficiently prioritize workstreams
• Strong work ethic and communication skills
• Advanced Excel skills, Bloomberg
• Investment banking and/or formal credit training a plus

Leadership Requirements and Personal Traits:

The successful candidate will be a change leader and manager. This individual must also have the following personal and professional attributes which are consistent with the Company’s stated values:

• Thrive on change and continuous improvement;
• Demonstrate and foster a sense of urgency, strong commitment, and accountability while making sound decisions and achieving goals;
• Focus on exceptional customer service and drive innovation to create an atmosphere that supports new ideas and initiative;
• Strive for effective communication resulting in teamwork, shared knowledge, and ideas;
• Articulate, inspire, and engage commitment to a plan of action aligned with organizational mission and goals;
• Ensure the development of a diverse pool of talent to meet current and future organizational needs;
• Create an environment where people from diverse cultures and backgrounds work together effectively;
• Be of unquestionable integrity, ethical and moral character;
• Deal effectively with ambiguity, change, and adapt appropriately to a range of situations;
• Pursue lifelong learning and personal development;
• Be willing to adhere to the following to ensure adherence to Allstate Investments compliance requirements and policies:

• Provide the Investments Compliance team with a list of investment accounts over which you have significant influence;
• Provide consent, through a signed statement, allowing Investments Compliance to receive duplicate confirmations of transactions in such accounts;
• Pre-clear through the Pre-Trade Clearing Process any personal security trades as will be further described upon employment. The Pre-Trade Clearing Process involves a check against a restricted security/issuer list, maintained by Investments Compliance, based on Allstate Investments' and Allstate's activities and dealings in the financial markets;
• Answer certain compliance questions regarding any affiliations with investment advisers, violations of state or federal securities laws, or actions taken against you by securities regulators and annually confirm compliance with the Allstate Code of Ethics and the Allstate Investments Code of Conduct;
• Provide Investments Compliance with a complete report of their current securities holdings in which the employee has, or acquires, any direct or indirect beneficial ownership. An employee is presumed to be a beneficial owner of securities that are held by his or her immediate "family members" sharing the individual's household. Household family members include married or common-law spouses, domestic partners, partners defined by civil union and resident dependent children.

Compensation and Benefits Package:

A competitive compensation and benefits package will be provided, including an attractive base salary and an annual target bonus opportunity based on the company’s and the individuals performance.

Additionally, Allstate offers a diversity of competitive benefits programs and resources:

• Comprehensive health care plans, dental coverage, vision coverage, and flexible spending accounts;
• Group legal, AD&D, group and dependent life insurance, as well as long-term and short-term disability;
• 401K;
• Tuition reimbursements for further education opportunities;
• Paid time off days;
• Shuttle service from nearby public transportation.

Notes:

• The preceding description is not designed to be a complete list of all duties and responsibilities. May be required to perform other related duties as assigned. Regular, predictable attendance is an essential function of this job.

Salary offered for this role is $110,000.00-$140,000.00 per year and is based on experience and qualifications.

The candidate(s) offered this position will be required to submit to a background investigation, which includes a drug screen.

Good Hands. Greater Together. ℠

As a Fortune 100 company and industry leader, we provide a competitive salary – but that’s just the beginning. Our Total Rewards package also offers benefits like tuition assistance, medical and dental insurance, as well as a robust pension and 401(k). Plus, you’ll have access to a wide variety of programs to help you balance your work and personal life -- including a generous paid time off policy. For a full description of Allstate’s benefits, visit https://www.allstate.jobs/benefits/

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Allstate generally does not sponsor individuals for employment-based visas for this position.

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