Portfolio Manager - Real Estate Owned

The Company:  Aflac Asset Mgt. LLC
The Location: 

New York City, NY, US, 10005

The Division:  Global Investment
Job Id:  6374

About Our Company

Aflac Asset Management, LLC, (d.b.a. Aflac Global Investments or GI) is a wholly owned subsidiary of Aflac, Incorporated (Aflac).  GI is headquartered in New York’s financial district at 100 Wall Street and is the organization responsible for the overall investment activities of Aflac and its subsidiaries in Japan, the U.S., and Bermuda.  With ~150 employees globally, GI manages an investment strategy focused on maximizing long-term returns with a focus on preservation of capital, subject to our affiliated insurance company’s objectives for income, asset-liability management, liquidity, and capital.  GI  is responsible for generating approximately $3.5 billion of annual investment income from Aflac’s general accounts from a mix of public and private assets (including strategic partnerships) across multiple geographies and currencies.  As of year-end 2023, Aflac’s total general account portfolio was $100 billion.

 

The investment teams support GI’s overall goals and objectives by implementing, managing, and overseeing multiple portfolios encompassing different strategies across various fixed income and growth asset classes utilizing both internal teams of analysts, portfolio managers, and traders and external third party asset managers.  GI utilizes a rigorous approach to deploying and managing assets driven by a disciplined strategic asset allocation which establishes portfolio parameters based on long term expectations for performance. 

 

Please note: Aflac Global Investments' hybrid working environment requires a minimum of 3 days in the office each week

 

Summary of Role

We are seeking an experienced portfolio manager to assume responsibility for managing and developing the externally managed Real Estate Owned (REOs) portfolios and related investment strategies.  The position will provide market insight and in-depth knowledge of the asset class and its deployment for life insurance company balance sheets, including Aflac’s Japan and US insurance companies.  The Portfolio Manager - REOs, will be a senior member of GI’s multi-asset class EMP team and will have the opportunity to collaborate with the EMP Asset Class Portfolio Managers and operational due diligence teams. In addition, the position has responsibility to collaborate with investment leaders and their teams in GI and with business leaders and staff in Aflac Inc., Aflac US and Aflac’s Japan insurance asset management subsidiary (AAMJ), which has primary investment and asset management responsibility for Aflac’s Japan insurance company. 

 

Candidate Profile 

The candidate will have demonstrated experience as an investor/portfolio manager in real-estate owned property, commercial real-estate, either via direct investing or through an external management practice such as GI’s EMP.  The candidate will also have familiarity with major regulatory and leading industry frameworks influencing project finance gained through experience in structuring, underwriting and/or investing in this asset class.  Technical knowledge of a wide range of transactions including leasing, divestitures, restructuring, recapitalizations, refinancing, and foreclosures characteristics and challenges required.  Investment valuation and return projects, comparable sale and company analysis focused on maximizing returns and mitigating risks. 

 

 

Key Relationships

Reports to:  Managing Director, Head of Private Debt, Strategic Partnerships, and Business Development

Primary Internal Relationships:  U.S. EMP team, Japan EMP team, GI business leaders and staff across front, middle and back office, GI Risk, Investment Accounting, Tax, Compliance and other key Aflac business partners

Primary External Relationships:  Existing and new external managers, peer and industry networks.

 

Principal Duties & Responsibilities

  •  Manage and monitor existing and new mandates, managers, deployment, guidelines compliance, performance monitoring and attribution. Provide quantitative, qualitative, and peer group analysis essential to creating and maintaining robust knowledge of asset classes and external asset managers.  Solidify and maintaonal mentform.perational aspects of the extenal  teamsrnal management platform.in manager relationships and regularly review manager data and monitor for manager delivery of IMA and SLA and guidelines
  • Research, develop investment theses and recommend new and existing investments, asset class and market opportunities through the candidate’s existing and prospective networks of external asset managers, in alignment with GI’s goals and objectives.
    • Financial analysis including cash flow projects, budgeting, financial modeling to the performance and potential of each property.
    • Oversee properties through broker management including property operations, site inspections, capital improvements, and market analysis while maximizing property values through rental income and occupancy rates.
    • Determines appropriate terms and conditions for coverages and rates for portfolio profitability.
    • Produce frequent portfolio impact analysis factoring asset acquisitions, dispositions, and upside/downside scenarios.
    • Knowledge of investment accounting, tax, legal specific to real-estate owned assets a plus. 
  •  Own and lead internal review/approval processes and investment due diligence responsibilities for on-boarding of new external mandates and investment strategies
  •  Support the delivery of relevant and in-depth intelligence on global markets, asset managers and competitors and asset class expertise across the risk spectrum, with an emphasis on maintaining corporate intelligence on and sourcing appropriate risk-adjusted private investment and lending opportunities
  •  Manage the delivery of quantitative and qualitative data and analysis by working closely with EMP colleagues and GI’s Business Intelligence team.  Assume responsibility for accuracy and timely delivery of information as required by the team’s reporting function
  • Collaborate with key stakeholders including the Chief Investment Officers, business unit heads, and business partners across Aflac Inc., Aflac Japan and Aflac US
  •  Produce and manage asset class related research and projects
  •  Coordinate all related asset class, external manager and portfolio communication with US and Japan EMP team and corporate business partners
  •  Act as ambassador and asset class subject matter expert for Aflac and GI with peers and within the industry
  • Perform special projects as required including participation in GI and Aflac workstreams
  • Prepare qualitative and quantitative analyses and summaries as required

 

Candidate Qualifications

The qualified candidate will have credible experience and available references demonstrating the following attributes:

  • Minimum of 10 years of demonstrated portfolio management experience managing real estate with a focus on credit fixed income assets in an institutional investment environment, with experience in real-estate owned assets, commercial real-estate, etc.
  • Prefer experience managing third party external managers, especially in project finance and infrastructure debt assets
  • Demonstrated evidence in producing new investment opportunities given knowledge of markets, asset classes, asset managers and investment frameworks in life insurance companies
  • Experience in Accounting, Tax, Regulatory, Legal, Audit, Compliance matters in relation to assigned asset classes and markets, with particular expertise in life insurance company investing
  • Solid and demonstrated knowledge of investments and global capital markets, with experience in investing prudently and effectively in complex, constrained insurance and/or financial organizations
  • Must have experience in delivering projects, including on tight delivery timeframes and to executive audiences
  • Proven ability to execute on goals, prioritize and work with teams to meet deadlines
  • Demonstrated effectiveness in working and collaborating in team environment within and across multiple functions, notable if across time zones and cultures
  • Experience in navigating and effectively handling socialization and governance in complex organizations
  • Excellent verbal and written communication skills
  • Excellent critical thinking, quantitative and analytical skills
  • Aptitude to manage and rationalize data from various sources
  • Excellent skills in Excel for sourcing, managing and assembling data for ad hoc analysis, formal projects and reporting
  • Undergraduate university credentials; advanced study in relevant field a plus
  • Prefer CFA or equivalent professional qualifications
  • Experience with Japan insurance company investing and regulatory risk frameworks a plus

 

The range on this positions is:   $200,000-$265,000

This compensation range is specific to the job level and takes into account the wide range of factors that are considered in making compensation decisions including, but not limited to: education, experience, licensure, certifications, geographic location, and internal equity. The range has been created in good faith based on information known to Aflac at the time of the posting.  Compensation decisions are dependent on the circumstances of each case. This salary range does not include any potential incentive pay or benefits, however, such information will be provided separately when appropriate.

 

In addition to the base salary, we offer an array of benefits to meet your needs including medical, dental, and vision coverage, prescription drug coverage, health care flexible spending, dependent care flexible spending, Aflac supplemental policies, 401(k) plans, and generous paid time off. You’ll also be granted time off for designated paid holidays and other leaves of absence, if eligible, when needed to support your physical, financial, and emotional well-being. Aflac complies with all applicable leave laws, including, but not limited to sick, adoption and parental leave, in all states and localities.

We will consider for employment all qualified applicants, including those with a criminal history, in a manner consistent with the requirements of all applicable federal, state, and local laws, including the Los Angeles Fair Chance Initiative for Hiring Ordinance, the San Francisco Fair Chance Ordinance, and the New York City Fair Chance Act. Applicants with criminal histories are encouraged to apply.


Nearest Major Market: Manhattan
Nearest Secondary Market: New York City