State of Maryland
Fixed Income Sr. Portfolio Manager III MSRP
State of Maryland, Baltimore, Maryland, United States, 21276
Introduction
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 café.
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. The Senior Portfolio Manager 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 trades, and monitor a portfolio of investments. This individual will contribute to producing reports on the portfolio of these investments and to communicating with stakeholders.
This is a Special Appointment position and serves at the pleasure of the Appointing Authority.
GRADE MSRP 0013
LOCATION OF POSITION 120 East Baltimore Street
Baltimore, Maryland 21202
Main Purpose of Job The Sr. Portfolio Manager III MSRP is responsible for leading the monitoring and due diligence efforts across one or more asset classes, actively sourcing and evaluating investment opportunities, and driving the investment recommendation process. This position's responsibilities include spearheading quantitative modeling research projects and conducting in-depth market analysis to inform tactical positioning strategies aimed at outperforming benchmarks. Additionally, the role contributes to internal management initiatives supporting broader organizational goals.
POSITION DUTIES 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.
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 to 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 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.
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, postgraduate 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 deep‑dive credit analysis in CMBS and ABS.
Strong quantitative analysis skills, interpersonal skills, and attention to detail.
The capacity to use critical thinking to solve problems.
Desirable software skills: Expert level in Microsoft Excel (including automation), 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.
SELECTION 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 application deadline; the agency will not consider information submitted after this date.
Due to the confidential nature of the work, selected candidates must undergo and pass a background check.
EXAMINATION PROCESS The assessment may consist of a rating of your education, training, and experience related to the requirements of this position. It is important that you provide complete and accurate information on your report of all experience and education that is related to this position.
For education obtained outside the U.S., a copy of the equivalent American education as determined by a foreign credential evaluation service must be provided prior to hire.
BENEFITS STATE OF MARYLAND BENEFITS
FURTHER 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
For questions regarding this recruitment, please contact the Maryland State Retirement and Pension Systems Human Resources Section: Shanera Johnson‑Randolph.
PLEASE DO NOT SUBMIT UNSOLICITED DOCUMENTATION.
TTY Users: call via Maryland Relay.
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.
Key Skills Project / Program Management, Project Portfolio Management, Portfolio Management, Credit Analysis, Banking, Pricing, Analysis Skills, Project Management, Financial Analysis, Budgeting, Property Management, Contracts
Employment Type: Full‑Time
Experience: years
Vacancy: 1
Yearly Salary: 181,764 - 272,647
#J-18808-Ljbffr
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 café.
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. The Senior Portfolio Manager 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 trades, and monitor a portfolio of investments. This individual will contribute to producing reports on the portfolio of these investments and to communicating with stakeholders.
This is a Special Appointment position and serves at the pleasure of the Appointing Authority.
GRADE MSRP 0013
LOCATION OF POSITION 120 East Baltimore Street
Baltimore, Maryland 21202
Main Purpose of Job The Sr. Portfolio Manager III MSRP is responsible for leading the monitoring and due diligence efforts across one or more asset classes, actively sourcing and evaluating investment opportunities, and driving the investment recommendation process. This position's responsibilities include spearheading quantitative modeling research projects and conducting in-depth market analysis to inform tactical positioning strategies aimed at outperforming benchmarks. Additionally, the role contributes to internal management initiatives supporting broader organizational goals.
POSITION DUTIES 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.
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 to 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 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.
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, postgraduate 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 deep‑dive credit analysis in CMBS and ABS.
Strong quantitative analysis skills, interpersonal skills, and attention to detail.
The capacity to use critical thinking to solve problems.
Desirable software skills: Expert level in Microsoft Excel (including automation), 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.
SELECTION 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 application deadline; the agency will not consider information submitted after this date.
Due to the confidential nature of the work, selected candidates must undergo and pass a background check.
EXAMINATION PROCESS The assessment may consist of a rating of your education, training, and experience related to the requirements of this position. It is important that you provide complete and accurate information on your report of all experience and education that is related to this position.
For education obtained outside the U.S., a copy of the equivalent American education as determined by a foreign credential evaluation service must be provided prior to hire.
BENEFITS STATE OF MARYLAND BENEFITS
FURTHER 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
For questions regarding this recruitment, please contact the Maryland State Retirement and Pension Systems Human Resources Section: Shanera Johnson‑Randolph.
PLEASE DO NOT SUBMIT UNSOLICITED DOCUMENTATION.
TTY Users: call via Maryland Relay.
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.
Key Skills Project / Program Management, Project Portfolio Management, Portfolio Management, Credit Analysis, Banking, Pricing, Analysis Skills, Project Management, Financial Analysis, Budgeting, Property Management, Contracts
Employment Type: Full‑Time
Experience: years
Vacancy: 1
Yearly Salary: 181,764 - 272,647
#J-18808-Ljbffr