Symetra has an exciting opportunity to join our team as a Director, Sr. Structured Product Analyst and Trader!

About the role

Responsible for the analysis, trading, and surveillance of an internally managed multi-billion Asset-Backed-Securities (ABS) portfolio, a non-agency RMBS portfolio as well as monitoring an externally managed private ABS portfolio. ABS investments span different asset classes (including consumer, data centers, aircraft, and other esoteric sectors), structures, and markets (including public and private). The candidate will analyze the structure, collateral and originator/servicer of ABS transactions and make investment recommendations to the head insurance portfolio manager. Surveillance will include detailed periodic portfolio reviews with screening of individual securities as well as analysis of risk and portfolio concentrations. The candidate will also communicate market color and insight to the broader investment team. Though Symetra's structured finance team is highly collaborative and jointly responsible for the overall structured finance portfolio, they will generally be the day-to-day lead on one or more of the above subsectors while assisting with analysis in the others. The candidate will be a manager of one direct report.

Company Overview

Symetra Investment Management ("SIM") is a SEC-registered investment advisory firm with approximately $75 billion in assets under management as of December 31, 2023. Symetra Financial Corporation ("SFC"), a diversified financial services company with $59 billion in assets as of December 31, 2022, headquartered in Bellevue, Washington is the sole shareholder of SIM. SFC is the holding company of Symetra Life Insurance Company ("Symetra Life"), which was founded in 1957, and has insurer financial strength ratings of 'A' by A.M. Best and Standard & Poor's and 'A1' by Moody's. Symetra Life is among the top 40 largest life insurance companies in the United States (based on statutory admitted assets as of December 31, 2022) and has approximately 1.7 million customers and over 2,200 employees nationwide. SFC is a wholly owned subsidiary of Sumitomo Life Insurance Company, a mutual life insurance company with head offices in Osaka and Tokyo, Japan. Founded in 1907, Sumitomo is one of the largest life insurance companies in Japan with $319 billion of assets as of March 31, 2023. SIM currently plans to enter the third-party investment management market in the short to intermediate term.

What you will do

• Analysis, monitoring, and trading of public and private ABS as well as a small non-agency RMBS portfolio. Monitoring existing positions to ensure continued creditworthiness and appropriateness of attributes for our ALM goals and recommending substitutions in instances in which better ALM and/or risk characteristics justify yield tradeoffs. Building and maintaining trading and research relationships with Wall Street firms.
• Monitoring and surveillance of one or more of the structured finance subsectors managed by external advisors, including quantitative modeling and screening, analysis of risk and portfolio concentrations, and overall monitoring of market fundamentals and technicals.
• Maintenance of modeling / prepayment / loss assumptions and surveillance tools for structured finance securities in primary areas of responsibility. Production and/or analysis of OTTI cash flow runs. Partnering with other analysts to ensure proper integration of the foregoing into our fixed income analytics platform.

Providing input and support for certain structured investments to our other analysts to run production analytics on our existing general account asset portfolio, across all asset classes. Facilitating automation and process improvements. Produce reports in primary areas of structured investment responsibility summarizing key findings and portfolio attributes, examine discrepancies, and explain anomalies. Perform ad-hoc analyses on general account allocations and strategies as required. Identify, communicate, and implement improvements to overall analytics.

Why work at Symetra

"If you want to invest in yourself and build a career, this is a great place to work. If you don't want to put in the effort to learn the industry and become a student of the business (it takes real effort!), there are easier places to work." Cris H. - AVP Internal Sales, Training and Development

"Symetra is inclusive of all employees regardless of their personal differences." Darrell J. - Actuary III

"Symetra values learning. Symetra has so many resources - whether that is the Student of the Business courses, sponsorship of professional certifications, or just individual employees being so willing to teach and answer questions." Felicia D. - Financial Reporting Lead Senior Analyst

What we offer you

We don't take a "one-size-fits-all" approach when it comes to our employees. Our programs are designed to make your life better both at work and at home.

• Flexible full-time or hybrid telecommuting arrangements
• Plan for your future with our 401(k) plan and take advantage of immediate vesting and company matching up to 6%
• Paid time away including vacation and sick time, flex days and ten paid holidays
• Give back to your community and double your impact through our company matching
• Want more details? Check out our

Compensation

Salary Range: $161,500 - $269,200 plus eligibility for annual bonus program

Who you are

• Highly quantitative educational credentials, as evidenced by (i) an M.S. / Ph.D. degree in mathematics, computer science, engineering, operations research, or other suitably quantitative or investment-related field, or (ii) a B.S. degree in such a quantitative discipline and evidentiary information supporting superior quantitative proficiency. CFA preferred.
• At least 12 years of overall experience in a structured fixed-income-oriented, front office and/or quantitative role in a bank, insurance company, hedge fund, pension fund, or other asset management firm.
• At least 12 years of experience in the analysis, modeling, and/or trading of structured finance securities.
• An extensive and demonstrable understanding of the following structured finance products and markets, with a particular emphasis on:
• ABS products, public and private, including credit cards, autos, data centers, student loans, whole business, equipment finance, aircraft, railcars, containers, consumer loans, and other major and esoteric categories.
• Experience performing credit analysis and modeling cash flows for such securities.
• Non-agency RMBS, including pre- and post-crisis vintages. Experience with prepayment and loss modeling analysis for such securities, as well as cash flow waterfall modeling.
• Strong structured securities sales relationships with Wall Street dealers.
• Proficiency in the primary analytical tools and systems required for the analysis of structured finance securities, such as Bloomberg, Intex, Trepp, Polypaths, Andrew Davidson, etc.
• A solid understanding of portfolio surveillance and fixed income analytics, including duration, spread duration, convexity, key rate duration, immunization, static yield spread, OAS, etc. Familiarity with insurance company ALM and/or LDI is an advantage.
• A "get it done" work ethic that supports the completion of tasks within specified timeframes, and the ability to adjust to shifting priorities as business conditions warrant, understanding that the work requirements of the position will sometimes embed inflexible deadlines.
• The ability to work cooperatively and collegially within a small team environment and communicate ideas effectively. Interest in being involved in multiple aspects of investment and risk management.

We empower inclusion

At Symetra, we aspire to be the most inclusive insurance company in the country. We're building a place where every employee feels valued, respected, and has opportunities to contribute. Inclusion is about recognizing our assumptions, considering multiple perspectives, and removing barriers.

We accept and celebrate diverse experiences, identities, and perspectives, because lifting each other up fuels thought and builds a stronger, more innovative company. We invite you to learn more about our efforts .

Creating a world where more people have access to financial freedom

Symetra is a national financial services company dedicated to helping people achieve their financial goals and feel confident about the future. In our daily work, we're guided by the principles of Value, Transparency and Sustainability. This means we provide products and services people need at a competitive price, we communicate clearly and openly so people understand what they're buying, and we design products-and operate our company-to stand the test of time. We're committed to showing up for our communities, lifting up our employees, and standing up for diversity, equity and inclusion (DEI). Join our team and help us create a world where more people have access to financial freedom.

For more information about our careers visit:

Work Authorization

Employer work visa sponsorship and support are not provided for this role. Applicants must be currently authorized to work in the United States at hire and must maintain authorization to work in the United States throughout their employment with our company.

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