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Form of workTHE COMPANY
For 175 years, National Life Group (“NLG”) has aimed to keep their promises to provide families stability in good times and in bad. And throughout that history, they have provided peace of mind to those families as they plan their futures.
As a mission-driven business, the cause of what they do is as important as the products they sell. And their cause is a very simple one, directed at the people who live and work on America’s Main Streets: “To Do good in our communities and with the individual families we serve.”
National Life Capital Management, the investment management company of NLG, manages approximately $40+ billion in AUM. Our purpose is simple – to allow NLG to keep its promises. How we do this – an obsessive focus on delivering investment results. We drive results through a rigorous but collaborative investment process, and we hold ourselves to the highest of standards, both as investors and teammates. While our process is based on rigor, our culture is based on our guiding principles: Meritocracy, Uncompromising Transparency, Intellectual Honesty, Performance Driven Learning, Relentless Pursuit of Excellence. These principles serve as the foundation of our team. They govern the way we conduct ourselves, how we interact with teammates and how we approach every investment decision. We act with the integrity and humility required to make the investment decision that is right for the firm, and ultimately our policyholders. Our culture has been deliberately built to foster curiosity and provide opportunities to learn and grow, both as people and investors. The flat and collaborative nature of our team promotes an atmosphere where the best ideas are continually expressed and rewarded. Our pursuit of excellence is unwavering.
THE POSITION
Position Title Director, Whole Loan / Private Assets Trading
Reports To Head of Liquid Products
Position Summary
The Director, Whole Loan and Private Assets Trading provides capital markets insight and execution across Residential Mortgage Loans, Commercial Real Estate, and Private ABS. Leveraging specialists within Residential RE, Commercial RE, and Asset Backed markets, the Director will contribute to the development and implementation of National Life’s investment strategy and bring deep capital markets insights in the evaluation of Whole Loans, complex securitized products, and bespoke private transactions. Successful candidates will have deep knowledge of structured investments and experience structuring and executing across opaque markets and should be comfortable in their ability to assess and price risk across disparate markets and varied capital structures.
Responsibilities
- Execute transactions across Whole Loan markets and private / illiquid asset classes
- Provide robust perspective in pricing of risk across sectors and within complex capital structures
- Leverage relationships to maximize sourcing capabilities, both deepening existing relationships while building new channels
- Communicate with consistency, bringing daily market perspective to other members of the investment team and driving dialogue across the NLG Capital team
- Provide assistance and redundancy for liquid markets trading
- Proactively identify risks and opportunity leveraging relationships, expertise, and internal research capabilities
- Coach and mentor team members, and build organizational depth through a commitment to developing others
THE PERSON
Pivotal Experience & Expertise
- Bachelors degree in finance, economics, or other relevant field of study
- 10+ years experience trading, origination, or capital markets experience across structured products, Whole Loans, or private credit
- Experience trading in opaque and private markets, with a preference for candidates who have traded residential mortgage and/or consumer loans
- Demonstrated experience with deal structuring and documentation, with experience in private and/or distressed structured products investing a strong plus
- Experience with Python and SQL considered helpful
- Knowledge of Intex and Trepp
- Understanding of accounting implications and insurance general account investing preferred but not required
- Must have broad strategic investment perspective and understanding of both income and total return investment objectives
- Strong leadership, organizational, and interpersonal skills. Focus on strategic talent management; experience mentoring, teaching and training staff
- Active student of the fixed income markets, with a passion for their work
- Able to articulate market conditions to a variety of audiences who may or may not have substantive investment knowledge
Cultural Fit
- Results-driven mindset
- Thrives in an environment where the best ideas that drive the best results are rewarded
- Has the integrity to communicate all relevant facts and information in evaluating decisions and the humility to admit what you do not know
- Love of learning – comfortable in an organization that seeks to continually learn from its failures and successes to drive better investment decisions
- Comfortable with ambiguity and the mentality required to address and ultimately own those ambiguous situations – finds answers and solutions
- Comfortable giving and receiving constructive feedback in both real time and structured environments
- Demonstrates transparent, direct, and open communication across the organization
- Promotes collaboration and has a “firm first” attitude – does what is right for the firm
- Commitment to our mission and values
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