Portfolio Manager - Fixed Income

The Portfolio Manager supports the oversight of external management of Public Fixed Income (PFI) assets. The position is responsible for monitoring investment activity, performance, analyzing external asset managers, recommending structural changes to the aggregate, and developing reports. The Portfolio Manager reports to the Senior Portfolio Manager.

50% - Serves as fund-of-funds portfolio manager for PFI by monitoring investment activity, performance and manager structure

• Provides ongoing qualitative and quantitative analysis of external fixed income asset managers, including but not limited to aggregate performance, attribution, trading and risk characteristics
• Recommends, as necessary, changes to aggregate manager structure, terminations and/or funding levels
• Prepares comprehensive talking points in advance of quarterly manager calls, participates in calls/meetings and completes detailed meeting notes, and ensures follow up items are addressed by investment managers
• Manages relationship with assigned external investment managers and addresses any organizational, operational, compliance and/or portfolio holding issues
• Participates in quarterly manager meetings outside of primary assigned managers
• Develops and advances knowledge of fixed income markets, portfolio construction and attribution

20% - Identifies, evaluates and recommends new investment strategies and managers

• Identifies relevant peer managers, develops focus list of potential managers for hire, and coordinates with asset class consultant on identifying new opportunities within assigned aggregate(s)
• Leads or provides support for investment manager searches, including overseeing investment and operational diligence
• Oversees and coordinates portfolio restructurings within PFI, working with fixed income and State Board of Administration staff, investment managers and transition managers as required
• Collaborates with other team members on structuring issues that span beyond assigned aggregate(s)

10% - Supports activities related to PFI manager contracts, legal issues, and compliance

• Participates in drafting of investment management agreements and other contract documents and other activities as requested

15% - Supports the development and production of performance and risk reports

• Develops and maintains proficiency of various risk management and attribution tools to gain insights into all PFI managers
• Researches and, as necessary, suggests improvements to monitoring and/or risk management tools used by the PFI

05% - Performs other duties as assigned

Three years of related professional experience. A postsecondary degree may be used as an alternative for years of direct experience; 2 years for an associate’s degree, 4 years for a bachelor’s degree, 6 years for a master’s degree, 7 years for a professional degree, or 9 years for a doctoral degree.

Preferences:

• A bachelor's degree from an accredited college or university in finance, mathematics, accounting, economics, statistics, business, communications, political science, computer science, MIS or public administration
• CFA designation
• Knowledge of fixed income securities, financial concepts and theories
• Strong computer literacy with emphasis on Microsoft Word, PowerPoint and Excel
• Knowledge of Bloomberg systems and functions

Knowledge, Skills and Abilities:

• Basis Knowledge of accounting principles and practices
• Skilled at independently making decisions and solving problems
• Skilled in understanding, interpreting and applying laws, rules, regulations, policies and procedures
• Knowledge of industry standards for policies and procedures
• Extensive Microsoft Excel skills
• Perform at a high level in a team environment
• Gather data, to compile information and prepare reports
• Ability to communicate effectively, both in writing and orally
• Ability to conduct research, compile data, and present results in an articulate and useful manner
• Types of risk: market, credit, operational, liquidity
• Travels occasionally to various locations throughout the United States. Involves occasional work outside of normal business hours and working remotely to maintain contact with external research sources and maintains normal office-related duties. Employees must abide by the rules, procedures, and policies of the State Board of Administration

Hiring Range: $100,300 - $132,000

The State Board of Administration is an Equal Opportunity Employer

Successful completion of a pre-employment background check is a condition of employment with the State Board of Administration