Maryland Military Department
Fixed Income Sr. Portfolio Manager III MSRP (Sr. Portfolio Manager III MSRP)
Maryland Military Department, Ellicott City, Maryland, United States, 21042
Introduction
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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.
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.
Responsibilities The Senior Portfolio Manager will work collaboratively with the Fixed Income team to support the overall investment program: 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; Assist in the maintenance of records related to investments and; Contribute to all Fixed Income team objectives as assigned or as needed. Actively manage and enhance return in securitized portfolios including ABS, CMBS, and MBS. Demonstrate ability to develop a view on the market, to 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). Communicate daily with broker-dealers, traders and analysts to maintain up-to-date knowledge of new developments, including issuance and trading flows. Provide general market color and to disseminate appropriate information to relevant internal groups. The Senior Portfolio Manager should expect to develop proficiency with Bloomberg analytics, Bloomberg trading facilities, Aladdin Risk system, relevant Fixed Income tools within the Microsoft suite of products and potentially, use Tradeweb, MarketAxess or other tools.
Qualifications Minimum Qualifications
Education: Graduated from an accredited four-year college or university with a bachelor’s degree. Experience: Relevant experience in investments or finance.
Desired Or Preferred Qualifications
Preferred candidates will possess the following qualifications: A CFA designation, post graduate degree or equivalent work experience will provide a strong foundation for success. 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 are advantages. Strong quantitative analysis skills, interpersonal skills and attention to details. The capacity to use critical thinking to solve problems. Desirable software skills: Expert level in Microsoft Excel (including tasks’ automation skillset); Word and PowerPoint; Expert Bloomberg (including 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.
Benefits STATE OF MARYLAND BENEFITS
EEO 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.
Application Process Please make sure that you provide sufficient information on your application to show that you meet the qualifications for this recruitment. All information concerning your qualifications must be submitted by the closing date. Due to the confidential nature of the work, selected candidates must undergo and pass a background check.
Baltimore, MD $80,000.00-$100,000.00
#J-18808-Ljbffr
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.
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.
Responsibilities The Senior Portfolio Manager will work collaboratively with the Fixed Income team to support the overall investment program: 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; Assist in the maintenance of records related to investments and; Contribute to all Fixed Income team objectives as assigned or as needed. Actively manage and enhance return in securitized portfolios including ABS, CMBS, and MBS. Demonstrate ability to develop a view on the market, to 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). Communicate daily with broker-dealers, traders and analysts to maintain up-to-date knowledge of new developments, including issuance and trading flows. Provide general market color and to disseminate appropriate information to relevant internal groups. The Senior Portfolio Manager should expect to develop proficiency with Bloomberg analytics, Bloomberg trading facilities, Aladdin Risk system, relevant Fixed Income tools within the Microsoft suite of products and potentially, use Tradeweb, MarketAxess or other tools.
Qualifications Minimum Qualifications
Education: Graduated from an accredited four-year college or university with a bachelor’s degree. Experience: Relevant experience in investments or finance.
Desired Or Preferred Qualifications
Preferred candidates will possess the following qualifications: A CFA designation, post graduate degree or equivalent work experience will provide a strong foundation for success. 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 are advantages. Strong quantitative analysis skills, interpersonal skills and attention to details. The capacity to use critical thinking to solve problems. Desirable software skills: Expert level in Microsoft Excel (including tasks’ automation skillset); Word and PowerPoint; Expert Bloomberg (including 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.
Benefits STATE OF MARYLAND BENEFITS
EEO 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.
Application Process Please make sure that you provide sufficient information on your application to show that you meet the qualifications for this recruitment. All information concerning your qualifications must be submitted by the closing date. Due to the confidential nature of the work, selected candidates must undergo and pass a background check.
Baltimore, MD $80,000.00-$100,000.00
#J-18808-Ljbffr