Portfolio Manager, Head of Bank Loans

Securian Financial • Saint Paul, MN

1d • Hybrid

About The Position

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 firm’s balance sheet.

Requirements

• 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
• 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

Nice To Haves

• Demonstrated experience managing portfolios within an insurance company or insurance-aligned investment platform
• Deep understanding of insurance balance sheet management, statutory accounting, and capital frameworks (RBC/NAIC)
• Advanced degree or professional designation (MBA, CFA, or equivalent)

Responsibilities

• 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
• Establish and lead the firm’s 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
• 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
• 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
• 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
• 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

Benefits

• Paid time off
• Leave programs (parental leave, caregiver leave, bereavement, military leave)
• Nine company paid holidays
• Company-funded pension plan
• 401(k) retirement plan with company contribution up to 10 percent of eligible earnings
• Medical, dental, and vision coverage from the first day of employment
• Volunteer paid time off
• Dollar-for-dollar matching gift program
• Associate Resource Groups (ARGs)

What This Job Offers

• Job Type: Full-time
• Career Level: Senior