Investment Risk Director

New-York-Life; New York (NY); Hybrid; USD 137,000 - 196,000; Full time

Job summary

New York Life Investment Management is seeking a Director, Fixed Income Investment Analysis and Risk in New York. You will lead independent investment analysis, manager due diligence, and portfolio risk oversight across public and private fixed income strategies, working directly with portfolio and transaction data.

The role emphasizes complex credit, securitized and asset-backed instruments, with broad exposure across a multi-manager platform.

Qualifications

• MBA or CFA designation or equivalent quantitative master’s degree preferred.
• Approximately 5+ years in fixed income investing or credit research.
• Strong knowledge of credit fundamentals, capital structures, and risk factors.

Responsibilities

• Lead reviews of public and private fixed income strategies, assessing performance and risk.
• Collaborate with holdings, risk, and transaction data to validate conclusions.
• Conduct manager and strategy due diligence, evaluating philosophy, process, and stability.
• Evaluate complex credit strategies, including covenant protections and restructuring risk.
• Prepare decision-ready materials for senior management and boards and escalate issues.

Skills

Fixed income investing

Credit research

Manager due diligence

Risk management

Education

MBA or CFA designation or quantitative master's

Tools

Bloomberg

FactSet

Aladdin

Yield Book

Intex

Python

SQL

Job description

Job DescriptionRequisition ID94554DepartmentNYLIMJob FunctionNYLIMLocationNew York,New York,United StatesRole Location DesignationHybrid - 4 days per weekLocation Designation: Hybrid - 4 days per weekAbout New York Life Investment ManagementWith over $800 billion in assets under management, NYLIM is a Pensions & Investments' Top 30 Largest Money Manager and one of the largest global asset managers serving institutional, retail and insurance clients. NYLIM brings together the firm’s global investment teams under one unified brand, combining specialized expertise with the strength and stability of New York Life.Our platform is built on disciplined active management, deep investment capabilities and a long-term partnership approach designed to deliver enduring value across market cycles and help clients navigate the next era of investing.More powerful, together, we combine the agility of specialized investment teams with the scale and longevity of a leading mutual institution.Director, Fixed Income Investment Analysis and RiskBusiness Unit: New York Life Investment ManagementDepartment: Investment Oversight GroupLevel: PF5Role OverviewThe Director will serve as a senior fixed income specialist within the Investment Oversight Group, leading independent investment analysis, manager due diligence, portfolio risk oversight, and ongoing review across public and private fixed income strategies.The role requires a hands-on investment professional who can work directly with portfolio and transaction-level information, identify material issues, form independent conclusions, and present clear findings to senior management and governance bodies. The Director will determine the appropriate scope of analysis, challenge investment teams constructively, and take responsibility for work from initial review through final conclusion.The position will focus on complex credit, with a preference for experience in securitized and asset backed credit, private credit, or distressed and opportunistic strategies. It offers broad exposure across a multi-manager investment platform and the opportunity to influence portfolio oversight, product and mandate decisions, transaction diligence, and investment governance.What You’ll DoLead recurring and event-driven reviews of public and private fixed income strategies. Establish the scope, priorities, and approach for evaluating performance, portfolio positioning, credit quality, interest rate and spread risk, liquidity, leverage, concentration, and results relative to objectives, benchmarks, and peers.Work directly with holdings, performance, risk, and transaction-level data. Oversee and validate source information and material assumptions, reconcile conclusions to underlying exposures, and identify data or control issues that could affect the analysis.Monitor significant market, issuer, portfolio, and manager developments. Determine their effect on the investment thesis and portfolio risk, initiate additional analysis, and escalate material issues to senior leadership and governance committees with actionable recommendations.Conduct manager and strategy due diligence, including assessment of investment philosophy, underwriting, research, decision-making, portfolio construction, risk controls, team capabilities, and organizational stability.Evaluate complex credit strategies with attention to underwriting, collateral, structural protections, documentation, valuation, downside risk, liquidity, and recovery outcomes. For private and distressed investments, assess covenant protections, capital structure, restructuring risk, and exit assumptions.Develop independent conclusions by testing manager representations against available evidence and identifying unanswered questions. Prepare concise, decision-ready materials for senior management, committees, and boards. Take responsibility for the accuracy, timeliness, and clarity of final work products.Lead the evaluation of new strategies, products, mandates, and strategic transactions. Develop consistent monitoring methods, escalation standards, and quality controls for fixed income oversight.Advanced Analytics and TechnologyUse advanced analytics, automation, and AI tools to improve investment review, due diligence, and risk monitoring. Apply scenario analysis, stress testing, attribution, historical analysis, and portfolio diagnostics to assess material fixed income and credit risks.Develop repeatable analytical processes with transparent assumptions, documented sources, appropriate controls, and reproducible results. Use portfolio data to identify changes in exposures or risk that may not be evident from standard reports or manager commentary. Independently validate all analysis and retain responsibility for its accuracy, confidentiality, and conclusions.What You’ll BringAn MBA, a master’s degree in a quantitative discipline, a CFA designation, or comparable professional experience is preferred.Candidates should have approximately 5+ years of relevant experience in fixed income investing, credit research, underwriting, manager research, investment consulting, banking, insurance investing, or investment risk. Significant fixed income experience is required, with a preference for experience in complex public or private credit strategies.Candidates must have experience analyzing fixed income portfolios, investment strategies, or individual credits and must be able to form and communicate independent conclusions. Strong knowledge of credit fundamentals, capital structures, interest rate and spread risk, liquidity, leverage, downside risk, portfolio construction, and performance attribution is required.The successful candidate will demonstrate sound investment judgment, intellectual curiosity, technical depth, and proactive risk identification. The role requires ownership of complex assignments, high standards of accuracy, effective management of deadlines, and the ability to carry work through to a clear conclusion.Strong written and oral communication skills are required, including the ability to explain complex matters clearly and prepare decision-ready materials for senior investment professionals and governance forums.Technical SkillsAdvanced Excel skills and experience working directly with portfolio, performance, risk, and transaction-level data are required. Candidates should have hands-on experience with an institutional portfolio or risk analytics platform. Experience with Bloomberg, FactSet, Aladdin, Yield Book, Intex, Python, SQL, or comparable tools is preferred.Strong financial statement, cash flow, credit, and valuation analysis skills are required. Experience with structural analysis, covenant review, downside modeling, recovery analysis, restructuring, or private asset valuation is beneficial.Job Level: LEVELPF5Pay TransparencySalary Range: $137,000-$195,500Overtime eligible: ExemptDiscretionary bonus eligible: YesSales bonus eligible: NoActual 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.Our BenefitsWe 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. Click here to discover more about our comprehensive benefit options or visit our NYL Benefits Site.Our Commitment to InclusionAt 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. Click here to learn more about New York Life’s leadership in this space.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.Job Requisition ID: 94554Read More