What are the responsibilities and job description for the Structured Product Trader position at State of Wisconsin Investment Board?
Making a Difference
The State of Wisconsin Investment Board (SWIB), founded in 1951, is a premier global investment organization responsible for managing the more than $156 billion of assets of the fully funded Wisconsin Retirement System (WRS), the State Investment Fund and other state funds. Through SWIB’s effective and innovative investment management, WRS remains one of the only fully funded US public pensions. We are the 9th largest public pension fund in the U.S. and the 25th largest public or private pension fund in the world. SWIB is recognized by the investment industry for our teamwork and innovation. SWIB pursues sophisticated global investment strategies across the asset and risk allocation spectrum. Providers across the investment ecosystem seek to partner with SWIB.
Serving more than 691,000 beneficiaries of the WRS, SWIB is a mission-driven organization focused on providing a strong financial future to those who committed their careers to public service. For public employees and the 1,500 Wisconsin employers who contribute on their behalf, we are a trusted partner. Our team innovates continuously to meet the challenges of an evolving investment landscape while growing and protecting the assets of the WRS.
SWIB provides a strong, steady economic pillar for the state of Wisconsin by growing the trust funds under its management, managing risk, and optimizing costs of the long term. We are a mission-driven organization and the participants we serve are our mission. By bringing a disciplined, prudent, and innovative approach to market opportunities, SWIB has been successful in generating required returns and maintaining the trust of the beneficiaries and stakeholders of the funds we oversee.
Home To Top Talent
Our high-performing staff is key to what makes us a premier investment manager. SWIB is committed to investing in talented professionals to implement our robust, sophisticated investment strategies and to keep the organization at the forefront of the investment industry. We encourage innovation and offer professional development opportunities to help staff sharpen and expand their skills. Approximately 61 percent of SWIB’s investment professionals are Chartered Financial Analyst (CFA) charterholders.
Job Description:
About the Team
The Fixed Income Strategies group manages portfolios across credit, rates, and structured products, employing both long-only and long/short strategies. Individual teams within the group collaborative to share insights, ideas and work together to achieve value-added performance.
Position Overview
We seek a structured product trader to work with the lead portfolio manager and as part of the greater fixed income team to trade and manage a dedicated structured products portfolio with AUM of approximately $3 billion. Sector analysis experience a plus. Structured product trading experience is a must.
Essential activities:
- Complete fixed income and related derivative transactions within the context of liquidity at best execution levels.
- Serve as primary Street-facing contact for MBS, CMBS, ABS and CLO sectors. Maintain and enhance counterparty relationships to source improved liquidity and execution.
- Disseminate information on sub-sectors, provide updates on changing market conditions to all team members.
- Provide guidance on trading strategies and security selection to the team.
- Perform ongoing surveillance of the portfolio and its holdings.
- Help ensure portfolio characteristics adhere to strategy and portfolio guidelines and achievement of desired exposures.
- Lead and/or participate in efforts to integrate new methods and technologies to further best execution.
- Prepare presentations to review investment strategy, objectives, and performance.
The ideal candidate:
- Relevant graduate degree or CFA preferred
- Prefer 5 years fixed income experience as a trader and/or analyst
- Broad understanding of fixed income asset classes
- Structured product trading experience in MBS, CMBS, ABS and CLO
- Demonstrated ability to seek out best execution, interpret market data and relay market color to team members as needed.
- Familiar with fixed income systems such as Bloomberg, Aladdin, Trepp, Yieldbook, and/or Intex
- Knowledge and deep understanding of trade life-cycle
- History of maintaining and enhancing counterparty relationships
- Strong communication and presentation skills
- Ability to work effectively within a small team and in cross-functional collaborations across investment teams
- Keen attention to detail and maintains a high level of accuracy
- Team player with a positive attitude and strong interpersonal skills
- Ability to work independently; manage multiple project-oriented tasks in an effective and timely manner
- Ability to wear multiple hats and help with issues ranging from cash and reconciliation to integration of new systems, as needed
SWIB Offers:
- Competitive total cash compensation, based on AON (formerly McLagan) industry benchmarks
- Comprehensive benefits package
- Educational and training opportunities
- Tuition reimbursement
- Challenging work in a professional environment
- Hybrid work environment
The position requires U.S. work authorization.
Pursuant to our Hybrid Remote Work Policy, all staff have the flexibility to work remotely, but are required to have a weekly presence in our offices, the frequency of which is dependent on their distance from office. Staff are not required to reside locally; however, we offer relocation reimbursement to the Dane County area per our policy.
All SWIB employees are subject to SWIB’s Ethics Policy and Personal Trade Approvals Policy. These policies include restrictions on outside business activities and employment and have limits on personal trading. You may request copies of these policies from SWIB’s talent acquisition team and any questions can be answered by SWIB’s compliance team.
