AVP, Investments

About Us We’re not like other insurance companies. From our specialty products to our business model, our culture to our results — we’re different. Different is who we are, and how we work, interact, deliver and succeed together. Creating a different and better insurance experience doesn’t just happen. It takes focus and a shared passion for going beyond the expected to forge relationships and deliver care that makes a difference. This approach rises from and is supported by our talented, ethical and smart team of employee owners united around a single purpose: to work alongside our customers and partners when they need us, in unexpected ways, with exceptional results. Apply today to make a difference with us. RLI is a Glassdoor Best Places to Workcompany with a strong, successful background. For decades, our financial track record has been stellar — a testament to our culture and validation of our reputation as an excellent underwriting company.Position PurposeUnder general direction and with significant independence, leads the company's investment function and develops and delivers investment results for the company's property and casualty insurance general account and surplus assets. Develops and executes portfolio strategy, asset allocation, implementation, risk oversight, outside investment manager relationships, and reporting across all asset classes appropriate for an insurance company. Develops surplus growth strategies and income opportunities while balancing capital preservation, liquidity, liability characteristics, regulatory requirements, and risk tolerances.Partners with Treasury, Accounting, Finance, Actuarial, Enterprise Risk, and other stakeholders to align investment strategy with the company's liquidity, capital, liability, and financial objectives. The role has significant flexibility and independent judgment in how investment objectives are developed and executed and presents strategy, results, risks, outlook, and recommendations to senior management and the Board of Directors.Principal Duties and ResponsibilitiesDevelop, recommend, and execute investment strategy for property and casualty general account and surplus assets, including asset allocation, duration, credit quality, liquidity, income, and total return objectives, consistent with investment policy and the company's capital, liability, and liquidity requirements.Independently identify, evaluate, and implement investment opportunities across all appropriate asset classes, including surplus growth and income strategies, while balancing expected return, capital preservation, liquidity, liability characteristics, regulatory requirements, and risk tolerances.Monitor portfolio performance, market and credit risk, liquidity, concentration, compliance, and GAAP and Statutory implications; conduct scenario analysis and recommend timely portfolio actions.Select and oversee outside investment managers, consultants, custodians, and other investment partners; establish and evaluate mandates, performance expectations, fees, guidelines, compliance, risk, and organizational changes.Use FactSet, Bloomberg, BondEdge, and related systems for market research, portfolio analytics, performance attribution, risk analysis, forecasting, management reporting, and data integrity.Develop investment reporting, analysis, and recommendations for senior management and the Board of Directors regarding portfolio strategy, performance, risk, market conditions, and outlook.Partner with Treasury to align investment portfolio positioning with enterprise liquidity, funding, and capital requirements, and collaborate with Accounting, Finance, Actuarial, Enterprise Risk, rating agencies, and other stakeholders regarding investment strategy and results.Oversee adherence to the company's investment policies and guidelines and recommend changes to investment policy, guidelines, limits, or governance practices based on market conditions, portfolio needs, regulatory requirements, and company objectives.Provide leadership and direction for investment staff, including establishing priorities, developing capabilities and talent, and ensuring effective execution of the company's investment strategy.Education & ExperienceTypically requires a bachelor's degree in finance, accounting, economics, business, or a related field10+ years of progressively responsible investment management experienceDirect experience managing property and casualty insurance company general account assets, with accountability for portfolio strategy, implementation, and performance.CFA designation and/or MBA preferred.[OR] equivalent level of education and experienceKnowledge, Skills, and CompetenciesBroad understanding of all asset classes appropriate for an insurance company, including public and private fixed income, cash and short-term investments, public equities, real estate, private markets, and alternatives permitted by investment policy.Strong knowledge of property and casualty insurer investment considerations, including asset-liability management, liquidity, capital preservation, statutory and GAAP accounting, regulation, and rating agency considerations.Advanced proficiency with FactSet, Bloomberg, and BondEdge or equivalent systems is desired; advanced Microsoft Excel skills are also required.Demonstrated ability to develop surplus growth strategies and identify sustainable income opportunities while managing risk and liquidity.Experience evaluating and overseeing outside investment managers, including due diligence, mandate design, performance review, fee assessment, and relationship management.Excellent written and verbal communication skills, with the presence and judgment to present complex investment matters clearly and confidently to senior management and the Board of Directors.Demonstrated executive judgment, initiative, and accountability; ability to independently develop recommendations, make investment decisions within delegated authority, and deliver portfolio results with limited supervision.Ability to synthesize data, solve complex problems, make well-supported decisions, and collaborate effectively with internal and external stakeholders.Compensation OverviewThe base salary range for the position is listed below. Please note that the base salary is only one component of our robust total rewards package at RLI. The salary offered will take into account a number of factors including, but not limited to, geographic location, experience, scope & responsibilities of the role, qualifications/credentials, talent availability & specialization, as well as business needs. The below range may be modified in the future. Base Pay Range$137,855.00 - $204,714.00Total RewardsAt RLI, we're all owners. We hire the best and the brightest employees and allow them to share in the company's success through our Total Rewards. With the Employee Stock Ownership plan at its core, the Total Rewards program includes all compensation, benefits and perks that come with being an RLI employee.Financial IncentivesAnnual bonus plansEmployee stock ownership plan (ESOP)401(k) — automatic 3% company contributionAnnual 401k and ESOP profit-sharing contributions (Up to 15% of eligible earnings)Work & LifePaid time off (PTO) and holidaysPaid volunteer time off (VTO) to support our communitiesParental and family care leaveFlexible & hybrid work arrangementsFitness center discounts and free virtual fitness platformEmployee assistance programHealth & WellnessComprehensive medical, dental and vision benefitsFlexible spending and health savings accounts2x base salary for group life and AD&D insuranceVoluntary life, critical illness, & accident insurance for purchaseShort-term and long-term disability benefitsPersonal & Professional GrowthRLI encourages its employees to pursue professional development work in insurance and job-related areas. We make a commitment to employees to provide educational opportunities that help them enhance their skills and further their career advancement. RLI fosters a true learning culture and encourages professional growth through insurance courses, in-house training and other educational programs. RLI covers the cost for most programs and employees typically earn a bonus upon successful completion of approved courses and certifications. Our personal and professional growth benefits include:Training & certification opportunitiesTuition reimbursementEducation bonusesDiversity & InclusionOur goal is to attract, develop and retain the best employee talent from diverse backgrounds while promoting an environment where all viewpoints are valued and individuals feel respected, are treated fairly, and have an opportunity to excel in their chosen careers. We actively support, and participate in, initiatives led by the American Property Casualty Insurance Association that aim to increase diversity in the insurance industry. Cultivating an exceptional and diverse workforce to deliver excellent customer service reinforces our culture and is a key to achieving superior business results.RLI is an equal opportunity employer and does not discriminate in hiring or employment on the basis of race, color, religion, national origin, citizenship, gender, marital status, sexual orientation, age, disability, veteran status, or any other characteristic protected by federal, state, or local law.SummaryLocation: Peoria, IL; Chicago, ILType: Full time