Director/Portfolio Manager - Credit

Who We Are

The Texas Municipal Retirement System (TMRS) is an award-winning statewide public retirement system that provides retirement, disability, and death benefits to more than 220,000 employees, retirees, and their beneficiaries of 938 participating Texas cities. TMRS staff is passionate about providing Texas public servants, who have contributed so much to their communities and improved the lives of so many, with a secure lifetime monthly retirement benefit. 
 

Who We Are Looking For

TMRS is currently hiring a talented investment professional to join TMRS’ Credit team in Austin. The role will be sourcing, evaluating, executing, and managing a public and private credit portfolio with co-investments globally. The Credit team’s mission is to provide the total fund with attractive exposures across the public fixed income spectrum and grow the private credit portfolio. Credit is targeted to represent 21% of TMRS’ $42 billion of total Trust Fund assets. The role will contribute to teamwide portfolio management efforts across all TMRS’ investments through weekly portfolio management meetings and deal-team collaboration. 

Education and Experience

• Bachelor’s degree in finance, economics, accounting, or related field.
• Four or more years of investment experience (global fixed income, fund investing, direct investing and/or credit analysis.)
• Passion for global credit investing and interest in both fund and direct investments. Strong research, modeling and analytical skills.
• Advanced degree (MBA, Master of Finance, etc.) or certification (CFA, CAIA) preferred but not required.
• Proactive self-starter, able to work independently and develop a point of view.
• Willingness to travel (10-25% of time).

Qualities We Are Looking For

• Purpose Driven. You have a dedication to public service and public retirement systems. TMRS is a statewide public retirement system that provides retirement, disability, and death benefits to employees and retirees of more than 925 participating Texas cities. 

• Intellectual curiosity and a passion for investing. You are curious and can get up to speed on complex topics, both qualitatively and quantitatively, fast. You love hallway discussions.
• Competitive streak with humility. You are driven by the goal of finding great investments and are willing to put in the work to make it happen. Likewise, you also value having the space to admit mistakes and are driven to learn from them.
• Team Orientation.  We process information and ideas as a team. You are comfortable with and willing to consider and contribute contrarian ideas. You pride yourself on integrity, collegiality, kindness, and not taking yourself too seriously. 
• Effective communication. You know when to listen, how to question, and have a proven ability to get your point across.
• Efficiency and process oriented.  You systematically use collaboration tools and strive to create scalable processes, recognizing each are key ingredients to enhancing investment results.

What You Can Expect

• Competitive salary ranging from $175,000 to $275,000 depending on experience and qualifications. 
• TMRS offers competitive compensation with medical, dental and vision insurance provided at no cost to employees, participation in TMRS’ retirement pension benefit, twelve paid holidays, and a new centrally located office.
• TMRS promotes employee growth and development by financially supporting educational and training programs.
• The TMRS investment team supports employee growth and development through a team structure that intends to move individuals up learning curves quickly though depth of manager relationship responsibility and breadth of interaction with TMRS’ total investment portfolio.

Physical Requirements

Sedentary work: Exerting up to 10 pounds of force. Ability to safely and successfully perform the essential job functions consistent with federal, state, and local standards, including meeting qualitative and/or quantitative productivity standards.

Salary : $175,000 - $275,000