Chief Credit Officer and Committee Head
Timeframe to Apply: 12/7/22 – 1/6/23
Chief Credit Officer and Committee Head NYSIF Investments - New York City Salary: $250,000-$300,000
In February 2022, the New York State Insurance Fund (NYSIF) was listed as the 37th Best Midsize Employer in America by Forbes. Under the general direction of the Chief Investment Officer (CIO), the Chief Credit Officer and Committee Head will be responsible for analyzing credits in a number of industries, performing due diligence, modeling and presenting recommendations to the CIO; monitoring credits and assessing relative value based on risk vs. return in a range of different portfolio strategies. The Chief Credit Officer and Committee Head will be responsible for conducting company specific and industry level fundamental research including the review of legal documentation as the basis for recommendations. The incumbent will also supervise and oversee the work of subordinates within the NYSIF Investments Department.
- Manage Credit Committee and Pricing Committee;
- Conduct fundamental credit research of investment grade (IG) corporate debt securities; analyze individual credits as well as trends and themes within assigned industry sectors;
- Establish a fundamental analytical framework for the IG credit portfolio;
- Assist in the implementation of credit portfolio management tools and systems to increase the efficiency and effectiveness of managing all investment assets;
- Utilize equity predictive models to assess default risk;
- Responsible for fostering and maintaining relationships with external parties including company management, sell-side analysts and rating agencies;
- Provide ad hoc in-depth analytical and quantitative support for the overall portfolio management team;
- Prepare and present write-ups to management and portfolio management teams;
- Analyze IG issuers via financial modeling, accounting review, assessment of management’s communications, assessment of third-party research, and interrogation of management and sell-side analysts, among others;
- Assess the relative value of IG bond investment opportunities by interpretation of capital structures, bond covenants, market drivers of bond performance and the value of available alternatives;
- Maintain an active dialogue, recommend investments across a range of portfolios (with e.g, different risk appetites and possible restrictions), defend those recommendations in both oral and written communication with the investment department;
- Perform ongoing due diligence and monitoring of portfolio positions and key credits in those industries, and communicate updates in a timely fashion (orally and in writing) to management;
- Regularly work proactively and communicate with the CIO, investment consultants, and portfolio management staff to identify risks, both quantitatively and qualitatively, of risk issues related to the portfolios and strategies; and
- Assume the responsibilities of the Chief Administrative Officer in their
Bachelor’s degree with strong academic qualifications; an MBA or CFA is preferred. Candidate should have a minimum of 15+years’ experience in institutional, publishing fundamental credit analysis.
Seeking candidates with the following attributes:
- Goal-oriented individual with solid organizational skills
- Strong quantitative skills and analytical ability
- Compelling presentation skills, and outstanding verbal and written communication skills
Primary Location: New York City
Telecommuting: NYSIF has a telecommuting program
To Apply: Please email resume and cover letter to firstname.lastname@example.org.
Please note the following New York State Civil Service employment information:
- Jurisdictional classification: Exempt
- Bargaining unit: Management/Confidential
- Civil Service title: Special Investment Officer
The New York State Insurance Fund (NYSIF) was established in 1914 as part of the original enactment of the New York State Workers’ Compensation Law. NYSIF's mission is to guarantee the availability of workers’ compensation insurance at the lowest possible cost to New York employers and to provide timely, appropriate indemnity and medical payments to injured workers, while maintaining a solvent fund. Since inception, NYSIF has fulfilled the dual roles for which it was created: to compete with other carriers to ensure a fair marketplace and to be a guaranteed source of coverage for employers who cannot secure coverage elsewhere.
NYSIF is the largest workers’ compensation carrier in New York State and among the top 10 largest workers’ compensation carriers in the nation, insuring approximately 139,000 policyholders, with more than $1.8 billion in annual earned premium and over $22 billion in assets. A self-supporting insurance carrier, NYSIF operates without taxpayer funding.
In addition to workers’ compensation insurance, NYSIF provides disability benefits coverage for off-the-job injuries to more than 56,000 New York employers. In 2018, NYSIF added paid family
leave as a component of its disability benefits product, providing New Yorkers with job protected, paid time away from work to care for their families.