CFA Institute
Sr. Portfolio Manager - Fixed Income
CFA Institute, Baltimore, Maryland, United States, 21276
The Maryland State Retirement 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 on the Fixed Income team of the Investment Division. The Senior Portfolio Manager reports directly to the Managing Director of Fixed Income, Currencies and Commodities and will be an active contributor to the FICC team and 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 unique opportunity to manage and trade a fixed income portfolio(s):
The Portfolio Manager will be a member of the FICC (Fixed Income, Currencies and Commodities) Investment team responsible for generating outperformance of all relevant portfolios or investments.
The Portfolio Manager will partner with the Co-Portfolio Manager in the direct management of a securitized bond portfolio.
The Portfolio Manager will collaborate and back-up the lead portfolio manager of an enhanced cash product, or other products as deemed suitable by the Managing Director.
The Portfolio Manager’s responsibilities will include modeling, analyzing, pricing, trading securities and managing securitized debt portfolio within relevant constraints (guidelines) and objectives for excess return.
The Portfolio Manager, depending on experience, qualifications and interests, will also work on special projects as assigned.
The Portfolio Manager will also develop macroeconomic and asset allocation forecasts to contribute to FICC and to the System in tactical (short-term) sector allocation decisions and may be asked to perform analysis relevant for the System’s Strategic (long-term) Asset Allocation decisions (less frequently).
This individual will work collaboratively with the Fixed Income team to support the overall investment program.
The Senior Portfolio Manager will:
Perform regular reviews and evaluations, including performance attribution and exposure analysis, of existing investments, including portfolios managed by 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.
Contribute to all Fixed Income team objectives as assigned or as needed.
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.
Actively manage and enhance return in the securitized portfolio including ABS, CMBS, and MBS.
Demonstrate ability to develop a view on the market, to identify relative value opportunities and to capture value.
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 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.
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The Agency is seeking a qualified and committed investment professional to serve as a Senior Portfolio Manager on the Fixed Income team of the Investment Division. The Senior Portfolio Manager reports directly to the Managing Director of Fixed Income, Currencies and Commodities and will be an active contributor to the FICC team and 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 unique opportunity to manage and trade a fixed income portfolio(s):
The Portfolio Manager will be a member of the FICC (Fixed Income, Currencies and Commodities) Investment team responsible for generating outperformance of all relevant portfolios or investments.
The Portfolio Manager will partner with the Co-Portfolio Manager in the direct management of a securitized bond portfolio.
The Portfolio Manager will collaborate and back-up the lead portfolio manager of an enhanced cash product, or other products as deemed suitable by the Managing Director.
The Portfolio Manager’s responsibilities will include modeling, analyzing, pricing, trading securities and managing securitized debt portfolio within relevant constraints (guidelines) and objectives for excess return.
The Portfolio Manager, depending on experience, qualifications and interests, will also work on special projects as assigned.
The Portfolio Manager will also develop macroeconomic and asset allocation forecasts to contribute to FICC and to the System in tactical (short-term) sector allocation decisions and may be asked to perform analysis relevant for the System’s Strategic (long-term) Asset Allocation decisions (less frequently).
This individual will work collaboratively with the Fixed Income team to support the overall investment program.
The Senior Portfolio Manager will:
Perform regular reviews and evaluations, including performance attribution and exposure analysis, of existing investments, including portfolios managed by 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.
Contribute to all Fixed Income team objectives as assigned or as needed.
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.
Actively manage and enhance return in the securitized portfolio including ABS, CMBS, and MBS.
Demonstrate ability to develop a view on the market, to identify relative value opportunities and to capture value.
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 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.
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