Sr. Associate I, Investments- Alternative Investments

Although we prefer candidates from the NY Metro area, we are also open to East Coast candidates interested in working remotely. 

About you and the role:

The Investments Senior Associate partners with the Head of Alternatives and Non-Core Specialty Mandates and the Alternative Investments team to support portfolio oversight, forecasting, reporting, and manager evaluation across the Alternatives and Non-Core portfolios.
•    Monitor existing external managers and underlying investments
•    Build and maintain asset models and financial plan projections
•    Support portfolio management, performance analysis, and stakeholder reporting
•    Execute manager due diligence, including evaluation and recommendation materials
•    Deliver ad hoc analyses and projects to support investment decision-making

Enstar has 30+ managers across Alternatives (Private Equity, Private Credit, Real Estate, Infrastructure, Hedge Funds) and Non-Core (High Yield, Public Equity, CLO Equity) asset classes. These are targeted to represent 30% of approximately $20B in total investable assets and are expected to contribute a significant portion of projected investment return; the remainder is managed by core fixed income managers (outside the scope of this role).

What you will be doing:

Key Accountabilities / Deliverables 

Ongoing Monitoring of Existing Managers, and Investments
•    Quarterly Monitoring: Support initial and ongoing relationships with assigned managers; produce quarterly investment updates; and ensure the accuracy of existing ratings
•    Performance Measurement and Attribution: Analyze and explain absolute and relative performance; attribute results versus budget, assigned benchmarks, and peer groups
•    Manager Scorecards: Maintain scorecards for funds, strategies, and managers using a combination of qualitative and quantitative analysis
•    Peer Group Analysis: Deliver peer-group comparisons for existing and prospective managers and strategies
•    Investment Data Management: Maintain up-to-date mandate, manager, and investment data across internal databases and third-party systems

Asset Modelling and Financial Planning
•    Asset Modelling: Develop, maintain, and update NAV, cash flow, gain/loss, and return projection models for assigned investments and managers
•    Plan Development: Support the setup, execution, and ongoing maintenance of Alternatives financial plan projections

Portfolio Management and Reporting
•    Investment Execution Support: Support negotiations for new investments; coordinate with regional investment teams, risk management, investment operations, investment accounting, legal counsel, external vendors, and investment managers
•    Onboarding and Setup: Onboard new managers and investments in coordination with regional investment teams, legal, investment accounting, investment operations, and IT, as well as external managers and vendors; ensure internal systems and databases are updated with complete and accurate manager and investment data
•    Compliance: Monitor adherence to internal and external portfolio constraints; escalate and support remediation as needed
•    Reporting: Prepare quarterly materials for the Group Investment Committee, Board of Directors, and/or CIO

Manager Due Diligence
•    Pipeline Development: Develop market maps for Alternative and Non-Core asset classes; build and maintain an accurate forward fund pipeline for existing and prospective managers; produce peer-group comparison summaries for pipeline managers
•    Manager Due Diligence: Support RFP development and end-to-end due diligence for current and prospective managers and funds, including investment structure review, tax considerations, insurance regulatory capital requirements across jurisdictions, and reference calls
•    Investment Recommendation: Draft and/or contribute to investment memoranda and supporting analyses for Investment Committee review

Ad-hoc Projects
•    Deliver additional analyses and special projects on an ad hoc basis, as business needs dictate

What you will bring:  

• 4-6 years minimum experience in an institutional investment role focused on sourcing, due diligence, and monitoring external managers, with emphasis on the alternative strategies noted above.
• Experience within an insurance company environment—such as an investment general account, CIO office, or    insurance asset manager—is strongly preferred.
• Demonstrated proficiency in screening and conducting due diligence on alternative investment funds.
• Prior experience in tracking, monitoring, and reporting on a sub-portfolio or sub-strategy within a broader  investment program.
• Deep understanding of investment management, asset allocation (strategic and tactical), and capital markets.
• Bachelor’s degree required; Master’s degree preferred.
• Progress toward CFA and/or CAIA designations is preferred.
• Applicable experience and understanding of non-core asset classes, including: public equity, private equity, real estate, hedge funds, infrastructure, CLO equity, high yield, bank loans, emerging market debt, and other alternative investments.
  • Deep understanding of statistical concepts, methods, and models, and their application to investments. 
  • Knowledge of performance measurement and attribution, and benchmark construction required
  • Proficient with calculating alternatives performance measures, and metrics such as TVPI, DPI, IRR, TWR, Unfunded, Exposure etc.
  • Proficiency in financial statement analysis, asset and portfolio NAV, Cash-flow, Gain-Loss forecast modelling, LBO modelling
• Excellent quantitative skills required for the asset modelling, performance measurement, portfolio construction and risk measurement processes.  
  • Strong written communication is required for communications with the Investment Committee, Board of Directors, and various internal and external stakeholders. 
  • Ability to prioritize commitments and time management is a significant requirement given the nature of our operations.
  • Ability to use Excel and PowerPoint is critical, given the requirement to develop investment analytics and proposals. 
  • Strong collaborator with other functional areas and executive management to ensure consistency and efficiency of approach.
• Ability to engage in crucial conversations to ensure effective decision making.

Your Benefits:

• Enstar offers best-in-class Medical, Dental, and Vision healthcare for single and family coverage.
• Board-certified doctors and pediatricians are available virtually 24/7 for urgent care.
• Access to Health Savings Account (HSA) or Flexible Spending Account (FSA).
• Access to Dependent Care FSA to cover daycare expenses.
• Access to Employee Assistance Programs (EAP) for health and well-being.
• Optional Pet & Home/Auto Insurance.
• Wellness Reimbursement program (up to $600 annual reimbursement for wellness-related expenses, i.e., gym memberships, massage, etc.).
• 401K retirement plan (company matches up to 6% of employee contribution).
• One paid annual volunteer day.

General Info

The target base salary pay range for this role is $135,000-$155,000*

*Target full-time equivalent base salary range is based on relevant market data. The actual salary offered will depend on applicable market data for hiring location and relevant candidate knowledge, skills/experience. This salary range is not inclusive of applicable discretionary incentives.

Who we are:

We are a trusted global re/insurance group and the leading provider of retrospective solutions, with specialist underwriting capabilities. We help our clients manage risk, unlock capital and create the financial freedom to grow. With operations across the world’s major insurance hubs and a global network of close to 800 talented professionals, we bring expertise and fresh thinking to some of the industry’s biggest challenges. 

For more information about Enstar, visit our website: www.enstargroup.com. 

For more information about careers at Enstar, visit our LinkedIn Life page or visit our careers site

Why Enstar:

Learning and development are a fundamental part of every employee's career journey with Enstar. Supporting growth and career progression is key to how we engage our people - helping them to learn, grow and succeed at Enstar.  

We offer a range of initiatives and resources to support our people throughout their careers: 

• Professional Qualifications and Study Support: We support employees who wish to take professional qualifications aligned to their role and career development.  

• Training, Conferences & Seminars: As a global organisation, we work with many professional bodies to provide access to training programmes, conferences, seminars and continuing professional development (CPD) opportunities. 

• Digital Learning Hub: Our digital learning hub, LinkedIn Learning, offers a wide range of self-serve resources, including courses, videos, eBooks, and audio books, to help employees build news skills and deepen their knowledge. 

We also invest in physical, mental and financial wellbeing initiatives for our employees. Supportive teams, inspiring work and a positive working environment all contribute to our collective wellbeing. Beyond the workplace, we strive to make a positive influence in our communities and to continuously reduce our impact on the environment. 

Enstar Inclusivity Policy:

We’re an equal opportunity employer and believe that our inclusive environment creates an authentic working culture. We don’t discriminate on the basis of age, physical or mental disability, gender reassignment, marriage and civil partnership, pregnancy and carer status, race (including colour, nationality, and ethnic or national origin), religion or belief, sex and sexual orientation. Enstar is committed in providing an accessible recruitment experience for all those interested in working with us. Please let your Enstar Recruitment Partner know if you require any reasonable accommodation during the application process due to a disability to enable you to fully participate in our recruitment process.