Analyst, Public and Private Asset-Backed Research

Allstate

2d•$157,000 - $197,500•Hybrid

About The Position

At Allstate, great things happen when our people work together to protect families and their belongings from life’s uncertainties. And for more than 90 years, our innovative drive has kept us a step ahead of our customers’ evolving needs. From advocating for seat belts, air bags and graduated driving laws, to being an industry leader in pricing sophistication, telematics, and, more recently, device and identity protection. Job Description Allstate Investments manages approximately $85 billion of assets. Our goal is to provide sustainable, competitive, risk-adjusted investment returns and investment related services for the benefit of The Allstate Corporation. We attribute our successful track record in large part to the quality of our people. The size of the investment group exceeds 300 individuals across a variety of investment disciplines including, fixed income, equities, private securities, commercial mortgages and derivative asset classes, as well as finance and technology. We recognize that our employees are our ultimate advantage, and we seek to attract and retain highly qualified individuals with strong academic backgrounds, a deep interest in investments and a desire to be challenged. You’ll do all this in an environment of excellence and the highest ethical standards – a place where values such as integrity, inclusive diversity and accountability are paramount. This position is a hybrid role, meaning your schedule may consist of time in an office setting and time working remotely from your home. The hybrid model is intended to provide greater flexibility – and will mean something different to each team, job and employee. Office presence is driven by the nature of the work and team needs. You’ll work from home for the remainder of the time you’re not in the office. This position is eligible for a monthly connectivity reimbursement to offset the costs of internet and phone expenses. Job Summary As part of Allstate Investments’ Global Research and Strategy team, the Asset-Backed Credit Analyst will support investment decision-making across public ABS and private asset-backed finance strategies through rigorous credit analysis, underwriting, and ongoing portfolio surveillance. This role combines fundamental credit analysis, quantitative modeling, surveillance, and recommendation support for our externally managed public and private asset-backed portfolio. The analyst will report to the Head of Fundamental Research & Risk while working closely with our Private Credit, External Manager, and Risk teams, as well as the Head of Credit Strategy.

Requirements

Bachelor’s degree in Finance, Economics, Accounting, Mathematics, or related field; advanced degree or CFA preferred.
5-9 years of experience in ABS research, private credit, structured finance, or investment banking.
Strong understanding of securitization structures, credit underwriting, financial modeling, and legal documentation.
Proficiency in Excel, Bloomberg, and financial analysis tools; experience with Intex or similar platforms is a plus.
Excellent written and verbal communication skills.
Ability to work independently and collaboratively in a fast-paced environment.
Knowledge of relevant regulatory and accounting standards (e.g., SEC, IFRS, GAAP) and their impact on asset-backed products
Skills Accounting Standards, Credit Research, Generally Accepted Accounting Principles (GAAP), International Financial Reporting Standards (IFRS), Investment Banking, Regulatory Accounting

Nice To Haves

Intellectual curiosity and a proactive approach to problem-solving.
Ability to synthesize complex information into clear, concise insights.
Strong organizational skills and attention to detail.
Familiarity with middle-market lending, sponsor-backed transactions, and bespoke credit structures.
Experience with private market investments and non-traditional securitizations.

Responsibilities

Conduct fundamental and quantitative credit analysis and surveillance on the broad public asset-backed security (ABS) as well as private asset-backed finance (ABF) credit sectors including single-family rentals, infrastructure and other asset-based lending.
Maintain an informed opinion on externally managed investment grade private ABF exposures including deal collateral, structures, covenants and legal documentation and ensure consistency of risk and return with mandate objectives.
Establish investment underwriting framework and perform due diligence on external manager investment processes to develop greater conviction on manager strategy and execution.
Participate in external manager deal pipeline calls to ensure alignment of deal flow with current mandates objectives.
Stay current on regulatory developments, rating agency criteria, and market dynamics.
Participate in investor meetings/calls and industry conferences.
Provide broader research team with deeper insights from ABS market into the consumer.
Convene regularly scheduled portfolio monitoring and surveillance meetings with stakeholders to discuss market and portfolio trends
Assist in tracking performance of existing public and private credit mandates versus original expectations
Participate in calls with external managers to discuss performance, portfolio construction, risk management, mandate compliance and attribution