Portfolio Manager, Head of Bank Loans

Securian Asset Management is seeking a seasoned investment professional to lead the development and management of our Bank Loan platform within a large institutional insurance general account.

This role offers a unique opportunity to build a high-quality scalable leveraged loan capability designed to support long-duration liabilities optimize statutory capital efficiency and deliver consistent risk-adjusted returns across market cycles.

As Head of Bank Loans you will play a critical role in shaping portfolio strategy enhancing asset-liability alignment and contributing to the long-term strength of the firms balance sheet.

Key Responsibilities

General Account Portfolio Leadership

• Manage a diversified portfolio of broadly syndicated bank loans aligned with general account objectives including yield capital efficiency and liquidity
• Construct portfolios consistent with liability profiles duration targets and ALM considerations
• Optimize regulatory capital treatment (RBC/NAIC designations) and statutory outcomes across the portfolio
• Deliver stable risk-adjusted performance through disciplined credit selection and active portfolio management

Strategy & Platform Development

• Establish and lead the firms bank loan investment strategy within an insurance framework
• Build a scalable platform including underwriting standards portfolio construction guidelines and risk controls
• Partner across Investment Risk Actuarial and Finance teams to ensure integration with enterprise balance sheet strategy
• Support the evolution of the platform toward CLO participation and broader structured credit capabilities

Credit Underwriting & Risk Management

• Lead fundamental credit analysis including financial modeling covenant review and documentation assessment
• Oversee internal ratings ongoing surveillance and sector concentration management
• Ensure disciplined risk management aligned with insurance regulatory requirements and internal investment policies
• Lead stress testing scenario analysis and downside risk assessments in partnership with enterprise risk teams

Governance & Regulatory Alignment

• Establish investment policies credit guidelines and governance frameworks appropriate for an insurance general account
• Ensure compliance with statutory accounting valuation standards and regulatory reporting requirements
• Partner with Legal and Compliance on documentation standards trading protocols and counterparty frameworks
• Provide regular reporting and insights to the CIO Investment Committee and senior leadership

Infrastructure & Operational Oversight

• Oversee development of operational capabilities including loan settlement administration and servicing
• Ensure audit-ready processes robust valuation methodologies and strong internal controls
• Evaluate and manage external service providers systems and data platforms supporting loan investments

Market Engagement

• Maintain strong relationships with bank loan arrangers syndicate desks and trading counterparties
• Monitor market conditions credit trends and macroeconomic factors impacting portfolio performance
• Represent the firm in lender groups and industry engagements

Qualifications

• 15 years of experience in leveraged finance bank loan investing or institutional credit portfolio management
• Demonstrated experience managing portfolios within an insurance company or insurance-aligned investment platform strongly preferred
• Proven ability to build or scale investment strategies or platforms
• Deep understanding of insurance balance sheet management statutory accounting and capital frameworks (RBC/NAIC) preferred
• Strong track record investing across credit cycles with a focus on downside protection and capital preservation
• Advanced degree or professional designation (MBA CFA or equivalent) preferred

Leadership Profile

• Long-term balance sheet-oriented investor mindset
• Strong risk discipline with a focus on capital preservation and consistency of returns
• Collaborative approach with experience working across actuarial risk and finance functions
• Ability to operate effectively within a regulated environment with multiple stakeholders
• Executive presence with strong communication skills for senior leadership and board-level engagement

*Internal Securian Financial job title for this position is Portfolio Management Director

Securian Financial believes in hybrid work as an integral part of our culture. Associates get the benefit of working both virtually and in our offices. This position requires you to live within a commutable distance (90 minutes) of our Home Office in St. Paul MN. Youll join us 3 days each week in our offices to collaborate and build relationships. Our policy allows flexibility for the reality of business and personal schedules.

For more information regarding Securians benefits please review our Benefits page.

This information is not intended to explain all the provisions of coverage available under these all cases the plan document dictates coverage and provisions.

Securian Financial Group Inc. does not discriminate based on race color religion national origin sex gender gender identity sexual orientation age marital or familial status pregnancy disability genetic information political affiliation veteran status status in regard to public assistance or any other protected status. If you are a job seeker with a disability and require an accommodation to apply for one of our jobs please contact us by email at by telephone (voice) or 711 (Relay/TTY).

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