Private Investment Mandates and Manager Oversight Lead

You will be joining the Outsourced Chief Investment Officer function within our Insurance Capital Solutions team, which is responsible for managing the investment portfolio of Macquarie’s asset intensive Bermudian reinsurer, InEvo Re. As part of their mandate, the team oversees InEvo’s deployment into new investments; manages InEvo’s risk, liquidity and ALM strategy; partners with teams across Macquarie to establish new investment capabilities; and works with InEvo to negotiate investment guidelines and support on the pricing of new reinsurance transactions.

What role will you play? Joining as a Vice President in the illiquid investments team, you will lead the negotiation of private asset investment guidelines with cedants for new reinsurance transactions, ensuring guidelines are investable, appropriately protect InEvo and align with our investment capabilities; the negotiation and onboarding of new sub-advisor and third-party manager relationships, including due diligence of their capabilities, negotiating the IMAs and SLAs, and establishing the operating model; and cedant due diligence on our private credit capabilities, building cedants’ comfort in our ability to originate, manage and monitor private assets. Once onboarded, you will also oversee sub-advisor performance and ensure compliance with IMAs, investment guidelines and SLAs, including running regular (quarterly) review meetings, tracking actions and escalating issues where required, as well as reviewing the quality and timeliness of sub-advisor reporting, valuations and internal ratings, and acting as the day-to-day contact for our Private Credit business and other third-party managers. You will develop repeatable onboarding precedents, templates and processes, so that new managers can be brought on quickly and consistently. Lastly, you will collaborate with our Private Credit business and other Macquarie divisions to establish new investment capabilities for InEvo, and will evaluate new asset class opportunities, including fit with cedant collateral guidelines, capital treatment and asset structuring for InEvo.

What you offer:

• Experience negotiating investment guidelines for private credit strategies, ideally with/for insurers, and overseeing and conducting due diligence on external or sub-advised managers, including onboarding, IMA and SLA negotiation, and ongoing performance and compliance monitoring.
• Strong knowledge of private credit across multiple sub-asset classes, such as direct lending, private placements, infrastructure debt, real estate debt, asset-backed finance and CLOs/rated notes, particularly anything US focussed.
• Experience launching new strategies, products or asset classes, including coordinating legal, tax, operations and risk approvals and establishing the operating model.
• Understanding of liability-driven investing and of how insurance regulation and capital treatment drive asset eligibility and investment guidelines, across different jurisdictions including UK, US, Bermuda and Asia.
• A credible, senior presence with the ability to build trusted relationships, negotiate and protect the interests of various internal and external stakeholders.

What we offer:

At Macquarie, you’re empowered to shape a career that’s rewarding in all the ways that matter most to you. Macquarie employees can access a wide range of benefits which, depending on eligibility criteria, include:

• 1 wellbeing leave day per year and a minimum of 25 days of annual leave.
• 26 weeks’ paid parental leave for primary caregivers along with 12 days of paid transition leave upon return to work and 6 weeks’ paid leave for secondary caregivers.
• Paid fertility leave for those undergoing or supporting fertility treatment.
• 2 days of paid volunteer leave and donation matching.
• Access to a wide range of salary sacrificing options.
• Benefits and initiatives to support your physical, mental and financial wellbeing including, comprehensive medical and life insurance cover.
• Access to our Employee Assistance Program, a robust behavioural health network with counselling and coaching services.
• Access to a wide range of learning and development opportunities, including reimbursement for professional membership or subscription.
• Access to company funded emergency and backup dependent care services.
• Recognition and service awards.
• Hybrid and flexible working arrangements, dependent on role.
• Reimbursement for work from home equipment.

Macquarie Asset Management (MAM) is a leading global asset manager, trusted by institutions, individuals and communities to responsibly manage assets on their behalf. MAM provides clients with a diverse range of investment solutions that seek to deliver superior risk-adjusted returns.

Inclusion at Macquarie: We are committed to providing an inclusive environment for all, where different experiences, skills and perspectives are valued and respected. Macquarie provides access to opportunities for all individuals regardless of their identity, including age, disability, neurodiversity, gender (including gender identity or expression), sexual orientation, marriage or civil partnership, pregnancy, parental status, race (including ethnic or national origin), religion or belief, or socio-economic background. We provide reasonable adjustments to individuals who may need support during the recruitment process and employment. If you require an adjustment, please let us know during the application process.