Director, Alternatives Strategy

New York Life; New York (NY); Hybrid; USD 150,000 - 200,000; Full time

Benefits offered by this job

Discretionary bonus eligible

Job summary

New York Life’s OCIO is seeking a seasoned Director in Alternatives Strategy to shape strategy, lead investment execution, and oversee a long-duration insurance portfolio.

The Director will lead designated alternative strategies, manage relationships with external managers, and collaborate across investment, risk, and enterprise teams. Experience in private markets and insurance-based investing is highly valued.

Qualifications

• Bachelor's degree in Finance, Economics, Business Administration, or a related field.
• Advanced degree (MBA or equivalent) and/or professional designation (CFA, CAIA) strongly preferred
• 8+ years of experience in alternative investments, private markets, or institutional asset management
• Demonstrated experience sourcing, analyzing, structuring, and executing private market transactions
• Strong understanding of portfolio construction, capital allocation, risk-adjusted return, and downside risk frameworks
• Experience with insurance-based investing, liability‑aware portfolio management, or capital-sensitive balance sheets is highly desirable
• Exceptional communication and interpersonal skills, with the ability to influence and engage senior stakeholders
• High degree of professional maturity, judgment, and ability to operate independently in a fast‑paced environment
• Occasional travel as required

Responsibilities

• Serve as primary investment lead for designated alternative strategies and manager relationships, with responsibility for end-to-end diligence, recommendation, and ongoing oversight
• Generate, evaluate, and lead execution of new alternative investment opportunities, including diligence, underwriting, structuring, and negotiation
• Provide thought leadership on the strategic role and portfolio fit of alternative investments within the General Account
• Assess opportunities through the lens of risk-adjusted return, capital efficiency, correlation, liquidity, and balance-sheet impact
• Lead commercial structuring and negotiation of investment terms to optimize alignment, downside protection, and capital efficiency
• Support portfolio construction/management, allocation decisions, and asset allocation discussions involving alternative investments
• Evaluate downside scenarios, stress outcomes, and liquidity implications of alternative investments within an insurance balance-sheet context
• Oversee monitoring of active investments to ensure adherence to strategy, risk limits, governance standards, and performance expectations
• Lead preparation of materials and serve as a key discussion partner in Investment Committee and various governance forums
• Partner closely with Business Development, Portfolio Solutions, Portfolio Management, Risk, Legal, Compliance, and Operations teams to ensure seamless execution and oversight
• Engage with external managers, sponsors, and counterparties to evaluate pipeline opportunities and maintain active market dialogue
• Represent New York Life in external meetings, conferences, and industry forums to strengthen sourcing relationships and maintain market insight
• Prepare and present investment recommendations, portfolio updates, and strategic perspectives to leadership team
• Mentor and develop OCIO team members, providing guidance on investment analysis, judgment, and professional growth
• Contribute to hiring decisions, team structure, and long-term capability development within the Alternatives platform
• Support the continued evolution of investment processes, governance frameworks, and best practices across the Alternatives team

Skills

Alternative investments

Private markets

Institutional asset management

Portfolio construction

Risk management

Education

Bachelor's degree in Finance, Economics, or related field

MBA or equivalent; CFA/CAIA preferred

Job description

Location Designation: Hybrid - 4 days per week

About the role

New York Life’s Office of the Chief Investment Officer (OCIO) is seeking a seasoned investment professional to serve as Director within its Alternatives Strategy team. Reporting to the Managing Director, Head of Alternatives, this role will serve as a senior owner within the Alternatives platform, with responsibility for shaping strategy, leading investment execution, and exercising judgment across a large, long-duration insurance portfolio.

The Director will have a leadership role in designated alternative strategies and manager relationships, with responsibility for end-to-end diligence, recommendation, governance, and ongoing oversight. The role requires embedded alternatives expertise, strong commercial judgment, and the ability to operate effectively across investment, risk, and enterprise stakeholders.

What You’ll Do:

• Serve as primary investment lead for designated alternative strategies and manager relationships, with responsibility for end-to-end diligence, recommendation, and ongoing oversight
• Generate, evaluate, and lead execution of new alternative investment opportunities, including diligence, underwriting, structuring, and negotiation
• Provide thought leadership on the strategic role and portfolio fit of alternative investments within the General Account
• Assess opportunities through the lens of risk-adjusted return, capital efficiency, correlation, liquidity, and balance-sheet impact
• Lead commercial structuring and negotiation of investment terms to optimize alignment, downside protection, and capital efficiency

Portfolio Management, Risk & Governance

• Support portfolio construction/management, allocation decisions, and asset allocation discussions involving alternative investments
• Evaluate downside scenarios, stress outcomes, and liquidity implications of alternative investments within an insurance balance-sheet context
• Oversee monitoring of active investments to ensure adherence to strategy, risk limits, governance standards, and performance expectations
• Lead preparation of materials and serve as a key discussion partner in Investment Committee and various governance forums

Collaboration, Market Engagement & Representation

• Partner closely with Business Development, Portfolio Solutions, Portfolio Management, Risk, Legal, Compliance, and Operations teams to ensure seamless execution and oversight
• Engage with external managers, sponsors, and counterparties to evaluate pipeline opportunities and maintain active market dialogue
• Represent New York Life in external meetings, conferences, and industry forums to strengthen sourcing relationships and maintain market insight
• Prepare and present investment recommendations, portfolio updates, and strategic perspectives to leadership team

Leadership & Platform Development

• Mentor and develop OCIO team members, providing guidance on investment analysis, judgment, and professional growth
• Contribute to hiring decisions, team structure, and long-term capability development within the Alternatives platform
• Support the continued evolution of investment processes, governance frameworks, and best practices across the Alternatives team

What You’ll Bring:

• Bachelors degree in Finance, Economics, Business Administration, or a related field
• Advanced degree (MBA or equivalent) and/or professional designation (CFA, CAIA) strongly preferred
• 8+ years of experience in alternative investments, private markets, or institutional asset management
• Demonstrated experience sourcing, analyzing, structuring, and executing private market transactions
• Strong understanding of portfolio construction, capital allocation, risk-adjusted return, and downside risk frameworks
• Experience with insurance-based investing, liability‑aware portfolio management, or capital-sensitive balance sheets is highly desirable
• Exceptional communication and interpersonal skills, with the ability to influence and engage senior stakeholders
• High degree of professional maturity, judgment, and ability to operate independently in a fast‑paced environment
• Occasional travel as required

Pay Transparency

• Salary Range: $150,000-$200,000
• Overtime eligible: Exempt
• Discretionary bonus eligible: Yes
• Sales bonus eligible: No
• Actual base salary will be determined based on several factors but not limited to individual’s experience, skills, qualifications, and job location. Additionally, employees are eligible for an annual discretionary bonus. In addition to base salary, employees may also be eligible to participate in an incentive program.

Company Overview

At New York Life, our 180-year legacy of purpose and integrity fuels our future. As we evolve into a more technology-, data-, and AI-enabled organization, we remain grounded in the values that drive lasting impact.

Our diverse business portfolio creates opportunities to make a difference across industries and communities—inviting bold thinking, collaborative problem‑solving, and purpose‑driven innovation. Here, you’ll find the rare balance of long‑standing stability and forward momentum, supported by an inclusive team that honors tradition while embracing progress.

As a Fortune 100 mutual company, we offer a place to grow your skills, contribute to meaningful work, and deliver solutions that matter. Your ideas drive what’s next, and your growth powers it.

Our Benefits

We provide a full package of benefits for employees – and have unique offerings for a modern workforce, including leave programs, adoption assistance, and student loan repayment programs. Based on feedback from our employees, we continue to refine and add benefits to our offering, so that you can flourish both inside and outside of work.

Our Commitment to Inclusion

At New York Life, fostering an inclusive workplace is fundamental to who we are and how we serve our communities. We have a longstanding commitment to creating an environment where individuals can contribute their best and succeed together. This foundation is rooted in our core values of humanity and integrity, ensuring that every employee feels valued and supported. By embracing a broad range of perspectives and experiences, we achieve greater success and fulfill our promise of providing financial security and peace of mind to families across all communities.

Other Information

Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by the Foundation. We're proud that due to our mutuality, we operate in the best interests of our policy owners. To learn more about career opportunities at New York Life, please visit the Careers page of www.NewYorkLife.com.