Maryland
Fixed Income Sr. Portfolio Manager III MSRP (Sr. Portfolio Manager III MSRP) - #
Maryland, Baltimore, Maryland, United States, 21276
Overview
The Maryland State Retirement and Pension System (SRPS) administers benefits for over 497,000 members, including active employees, retirees, and vested participants across 12 retirement systems—supporting the financial security of Maryland’s public servants. Located in Baltimore’s Central Business District, SRPS offers a purpose-driven workplace with modern amenities, including panoramic city and harbor views, renovated common areas, upgraded elevators, and an on-site caf. Employees enjoy comprehensive state benefits including medical, dental, prescription coverage, generous paid leave, participation in the state pension system, and supplemental retirement savings options (401(k), 457(b), and more). Additional perks include an on-site fitness center with showers and lockers, 24/7 building security, and easy access to restaurants, shops, public transit, and major highways. If you’re seeking a career with impact, stability, and a supportive environment, explore opportunities with MSRPS. The Agency’s Investment team is both results driven and creative problem solvers who work together to manage a global multi-asset portfolio and to provide a secure base of assets to pay the current and future benefits for the underlying retirees and beneficiaries. The Investment Division is committed to providing a comprehensive work environment that will give the investment team members a complete understanding of the institutional investment process and to provide a diverse and inclusive workplace that embraces both analytical and creative thinkers. The Agency is seeking a qualified and committed investment professional to serve as a Senior Portfolio Manager in the Fixed Income team of the Investment Division. Job Summary
The Senior Portfolio Manager III MSRP reports directly to the Managing Director of Fixed Income, Currencies and Commodities and will be an active contributor of the FICC team and of the Investment Division broadly. This individual will work collaboratively within the Fixed Income team and will source, evaluate, recommend (if needed), execute, trade and monitor a portfolio of investments. This individual will contribute to producing reports on the portfolio of these investments and communication with stakeholders. This is a Special Appointment position and serves at the pleasure of the Appointing Authority. Grade
MSRP 0013 Location
120 East Baltimore Street Baltimore, Maryland 21202 Responsibilities
Perform regular reviews and evaluations, including performance attribution and exposure analysis, of existing investments, including portfolios managed by specialist external managers. Conduct research to generate investment ideas. Track and model investment performance and exposures. Assist in preparing presentation materials for Investment Division staff or for the Board of Trustees’ Investment Committee meetings. Manage consultant relationships (if needed). Assist in the development of analysts, associates, and interns; maintain records related to investments. Actively manage and enhance returns in securitized portfolios including ABS, CMBS, and MBS. Demonstrate ability to develop a view on the market, identify relative value opportunities and make comprehensive recommendations on specific securities. Utilize interest rate and prepayment models for the analysis of options adjusted spread, yield, prepayment sensitivity, duration, convexity, and total return profiles. Trade across securitized sectors, other cash products and certain relevant derivatives; apply market knowledge and experience to achieve best execution. Support the development and implementation of strategies related to the overall fixed‑income investment process, including active participation in relevant meetings. Communicate routinely with members of the fixed‑income team and the broader Investments team on capital markets, portfolio characteristics, strategy and tactics on an as‑needed basis. Minimum Qualifications
Education: Bachelor’s degree from an accredited four‑year college or university. Experience: Relevant experience in investments or finance. Desired or Preferred Qualifications
A CFA designation; a post‑graduate degree or equivalent work experience. Experience at a pension, endowment, foundation, or other institutional investment organization. Experience with structured product asset classes (ABS, CMBS and MBS) in a portfolio management role and trading role. Knowledge of securitized risk management; experience trading and hedging MBS derivatives and CMOs, and performing deep‑dive credit analysis in CMBS and ABS. Strong quantitative analysis skills, interpersonal skills and attention to detail; capacity to use critical thinking to solve problems. Expert level in Microsoft Excel (including automation skillset); Word and PowerPoint; Expert Bloomberg (PORT and AIM); Aladdin user. Familiarity with econometric models used for term structure and prepayment speeds analysis. Experience with Yieldbook, Intex, Trepp, Tradeweb, MarketAxess, R, Python, VBA. Selection Process
All information concerning your qualifications must be submitted by the closing date. Selected candidates must undergo and pass a background check. Benefits
STATE OF MARYLAND BENEFITS Application Instructions
The online application process is STRONGLY preferred. If you are unable to apply online, you may mail a paper application and supplemental questionnaire to: Maryland State Retirement and Pension Systems Human Resources Section 120 E. Baltimore Street Baltimore, MD 21202. Equal Opportunity Statement
As an equal opportunity employer, Maryland is committed to recruiting, retaining and promoting employees who are reflective of the State’s diversity. People with disabilities and bilingual candidates are encouraged to apply. We thank our Veterans for their service to our country.
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The Maryland State Retirement and Pension System (SRPS) administers benefits for over 497,000 members, including active employees, retirees, and vested participants across 12 retirement systems—supporting the financial security of Maryland’s public servants. Located in Baltimore’s Central Business District, SRPS offers a purpose-driven workplace with modern amenities, including panoramic city and harbor views, renovated common areas, upgraded elevators, and an on-site caf. Employees enjoy comprehensive state benefits including medical, dental, prescription coverage, generous paid leave, participation in the state pension system, and supplemental retirement savings options (401(k), 457(b), and more). Additional perks include an on-site fitness center with showers and lockers, 24/7 building security, and easy access to restaurants, shops, public transit, and major highways. If you’re seeking a career with impact, stability, and a supportive environment, explore opportunities with MSRPS. The Agency’s Investment team is both results driven and creative problem solvers who work together to manage a global multi-asset portfolio and to provide a secure base of assets to pay the current and future benefits for the underlying retirees and beneficiaries. The Investment Division is committed to providing a comprehensive work environment that will give the investment team members a complete understanding of the institutional investment process and to provide a diverse and inclusive workplace that embraces both analytical and creative thinkers. The Agency is seeking a qualified and committed investment professional to serve as a Senior Portfolio Manager in the Fixed Income team of the Investment Division. Job Summary
The Senior Portfolio Manager III MSRP reports directly to the Managing Director of Fixed Income, Currencies and Commodities and will be an active contributor of the FICC team and of the Investment Division broadly. This individual will work collaboratively within the Fixed Income team and will source, evaluate, recommend (if needed), execute, trade and monitor a portfolio of investments. This individual will contribute to producing reports on the portfolio of these investments and communication with stakeholders. This is a Special Appointment position and serves at the pleasure of the Appointing Authority. Grade
MSRP 0013 Location
120 East Baltimore Street Baltimore, Maryland 21202 Responsibilities
Perform regular reviews and evaluations, including performance attribution and exposure analysis, of existing investments, including portfolios managed by specialist external managers. Conduct research to generate investment ideas. Track and model investment performance and exposures. Assist in preparing presentation materials for Investment Division staff or for the Board of Trustees’ Investment Committee meetings. Manage consultant relationships (if needed). Assist in the development of analysts, associates, and interns; maintain records related to investments. Actively manage and enhance returns in securitized portfolios including ABS, CMBS, and MBS. Demonstrate ability to develop a view on the market, identify relative value opportunities and make comprehensive recommendations on specific securities. Utilize interest rate and prepayment models for the analysis of options adjusted spread, yield, prepayment sensitivity, duration, convexity, and total return profiles. Trade across securitized sectors, other cash products and certain relevant derivatives; apply market knowledge and experience to achieve best execution. Support the development and implementation of strategies related to the overall fixed‑income investment process, including active participation in relevant meetings. Communicate routinely with members of the fixed‑income team and the broader Investments team on capital markets, portfolio characteristics, strategy and tactics on an as‑needed basis. Minimum Qualifications
Education: Bachelor’s degree from an accredited four‑year college or university. Experience: Relevant experience in investments or finance. Desired or Preferred Qualifications
A CFA designation; a post‑graduate degree or equivalent work experience. Experience at a pension, endowment, foundation, or other institutional investment organization. Experience with structured product asset classes (ABS, CMBS and MBS) in a portfolio management role and trading role. Knowledge of securitized risk management; experience trading and hedging MBS derivatives and CMOs, and performing deep‑dive credit analysis in CMBS and ABS. Strong quantitative analysis skills, interpersonal skills and attention to detail; capacity to use critical thinking to solve problems. Expert level in Microsoft Excel (including automation skillset); Word and PowerPoint; Expert Bloomberg (PORT and AIM); Aladdin user. Familiarity with econometric models used for term structure and prepayment speeds analysis. Experience with Yieldbook, Intex, Trepp, Tradeweb, MarketAxess, R, Python, VBA. Selection Process
All information concerning your qualifications must be submitted by the closing date. Selected candidates must undergo and pass a background check. Benefits
STATE OF MARYLAND BENEFITS Application Instructions
The online application process is STRONGLY preferred. If you are unable to apply online, you may mail a paper application and supplemental questionnaire to: Maryland State Retirement and Pension Systems Human Resources Section 120 E. Baltimore Street Baltimore, MD 21202. Equal Opportunity Statement
As an equal opportunity employer, Maryland is committed to recruiting, retaining and promoting employees who are reflective of the State’s diversity. People with disabilities and bilingual candidates are encouraged to apply. We thank our Veterans for their service to our country.
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