Portfolio Manager, Fixed Income
The CalSTRS Investments Branch is seeking an experienced individual to work as a Portfolio Manager in the Fixed Income unit.
The Fixed Income Unit was established in 1987 and is managed both internally and externally using enhanced and active strategies. Fixed Income seeks to provide value through innovative/active asset allocation and bond selection taking advantage of internally and externally managed strategies. In addition, Fixed Income is responsible for several other portfolios and programs including U.S. TIPS, Cash Management, Securities Lending, Risk Mitigating Long Duration U.S. Treasuries and Currency Management.
Under the general direction of the Director of Fixed Income, the Portfolio Manager is responsible for developing and managing the day-to-day implementation of the CalSTRS investment strategy for the Short-Term Portfolios and Programs. These include, but are not limited to, the Liquidity portfolio, the Securities Lending cash collateral reinvestment portfolio, and any short-term focused strategy deemed appropriate and in support of the Collaborative Model.
Responsibilities of the Portfolio Manager include:
- Development of a comprehensive strategy for the portfolio/program based upon economic forecasts, industry trends and program needs.
- Evaluation of the relative value within the applicable market/industry in order to determine the optimal portfolio structure and asset allocation consistent with the current strategy.
- Analysis and evaluation of the performance of the portfolio/program.
- Implementation of investment decisions resulting from the current strategy and relative value analysis.
- Supervise staff and participate in the personnel processes including recruitment, hiring, training and Performance Management.
This position is eligible for incentive compensation and has a maximum incentive opportunity of 125% of base salary.
In addition to evaluating each candidate's relative ability, as demonstrated by quality and breadth of experience, the following factors will provide the basis for competitively evaluating each candidate:
- Possession of a bachelor’s degree in Finance, Business, Economics, or a closely related field
- CFA designation preferred
- Investment management experience
- Experience trading securitized products
- Knowledge of investment transactions and security types
- Excellent written and verbal communication skills
- Strong leadership skills
- Strong quantitative and qualitative analytical skills
- Ability to effectively analyze information to make decisions efficiently
- Ability to present information clearly, both orally and in writing, to a wide range of audiences
- Ability to work independently, prioritize workload, and meet deadlines
- Ability to successfully multi-task in a fast-paced environment and re-direct job focus when needed
- Ability to interact with various levels of internal and external professionals with tact and diplomacy
- Ability to work effectively as an individual and as part of a team to support team, unit, and Investments Branch goals
CalSTRS offers a competitive pay schedule and a work-life-balance for all its employees. The State of California provides comprehensive benefits packages determined by the employee’s bargaining unit and conditions of employment. Some benefits include:
- Alternative work schedules
- Flexible work hours
- Remote work options
- Medical benefits, including health, dental and vision insurance
- Paid holidays and a defined benefit retirement program
- More than four weeks of vacation/sick leave for leaders
- More than three weeks of vacation/sick leave for staff
- Health insurance in retirement
- Employee Assistance Program
- Loan forgiveness under the federal Public Service Loan Forgiveness Program