Portfolio Manager II- Investment Grade Credit

The State Board of Administration of Florida (SBA) is the investment organization managing the assets of the Florida Retirement System (FRS) and other funds.  With more than $200 billion in total assets under management, the SBA is one of the largest institutional investors in the world.  A key responsibility is the management of the FRS Pension Plan, the 5th largest public pension fund in the U.S.  Year after year, the SBA is able to accomplish sound, long term investment returns above benchmark, while always keeping our beneficiaries’ interests at the forefront of our actions. 

At the SBA we recognize that our talented colleagues drive our sophisticated investment strategies, prudently balance risk and reward, and generate above-benchmark returns while adhering to the highest professional and fiduciary standards.  It is vital to maintain the trust of the employees and beneficiaries of the funds we oversee. The SBA is committed to seeking individuals who will enhance our team by contributing to our knowledge pool while adhering to the ethics and integrity that underscore our investment strategies and management.

What we need

The SBA is currently seeking a Portfolio Manager II-Investment Grade Credit in our Fixed Income asset class. The ideal candidate will have working knowledge of both short-term investment fundamental/relative value metrics and long-term investment fundamental/relative value metrics, and previous work environment exposure to portfolio management concepts. This candidate has a demonstrated ability to independently drive and complete projects, assimilate a large volume of complex information in a short period of time, and can quickly weigh pros and cons of inter-related variables.

What you’ll do

• Analyzes fundamental and relative value research and provides related recommendations to the Senior Portfolio Manager (SPM) for the internal actively managed corporate bond portfolio  
• Evaluates new issues brought to market daily for the internal active corporate bond portfolio
• Prepares and presents economic reviews and tracks data of investor sentiment/anxiety cycles
•  Manages and prepares daily, monthly and quarterly reports for portfolio monitoring of the internal actively managed corporate bond portfolio and for monitoring of SBA’s classes B&D counterparties
• Constructs data models and performs research for identified alpha strategy opportunities to provide advice to the SPM
• Analyzes fundamental research and provides written reports for short-term portfolio issuers within assigned sectors
• Conducts analysis for Trade Oversight Group for Counterparty research
• Performs other duties as assigned

What you should have

A bachelor’s degree from an accredited college or university in finance, mathematics, accounting, economics, statistics, business, computer science, Management Information Systems (MIS) and four years of related professional experience. Or any combination of education and/or experience equal to the minimum requirements.

Preferences:

• At least three (3) years of Investment Grade buy side credit fundamental and relative value research analysis experience covering financial services sectors, including but not limited to banking, finance company, insurance, asset management and brokerage sectors
• MBA or Masters in Finance
• CFA or willingness to achieve CFA designation
• Advanced Excel and programming experience utilizing VBA on Excel and Python
• Experience using Bloomberg analytics systems
• Prior work environment exposure to portfolio management concepts

Knowledge, Skills and Abilities:

• General knowledge of accounting
• General knowledge of corporate finance & competitive strategy
• General knowledge of macroeconomics
• General knowledge of statistics
• Basic corporate credit analysis skills
• Basic securities valuation analysis skills
• Advanced skills in building and manipulating Excel spreadsheets
• Ability to independently drive & complete projects
• Ability to assimilate a large volume of complex information in a short period of time
• Ability to quickly weigh pros and cons of  inter-related variables