Investment Portfolio and Hedging Manager (Relocation Available)

Dallas, Texas (US), Detroit, Michigan
02 Feb 2023
04 Mar 2023
Employment Type
Full Time

Investment Portfolio and Hedging Manager


Position Description

The Portfolio Manager is responsible for assisting in the management of Comerica's investment securities portfolio and in the execution of Comerica’s derivatives hedging strategy.  The position works closely with Comerica’s Asset/Liability management team and ALCO to design and execute the optimal derivatives strategy in support of Comerica’s interest rate risk targets.  In addition, the Portfolio Manager analyzes market opportunities, recommends investment products, and market exposures, and negotiates transaction terms with market participants when needed.  This position, by extension of its investment knowledge, will also assist in managing Comerica pension assets, including investment policy, strategy, and execution.

Position Responsibilities:

  1. Evaluate, recommend and execute purchases and sales of securities such as Treasuries, agency MBS and CMBS, ABS, etc. to meet investment portfolio targets and risk objectives. The most effective Portfolio Managers have deep expertise in structured investment securities. Knowledge around fixed income market information, negotiating competitive transaction terms and structures with market participants, assess trade-offs between securities structure and pricing, select appropriate parties, and comfort being empowered to execute large financial transactions for the bank. Strong communication skills including the ability to articulate in simplified terms complex financial concepts to risk committees and upper management, as well as regularly participate in open ended strategy discussions with senior banking leaders. Assist in formulating and executing Comerica's securities collateral and custody strategy to maximize the liquidity value of Comerica's securities and ensure flexibility to meet various investment objectives. Analyze different types of interest rate derivatives instruments and make recommendations about their role in an overall successful hedging strategy for the bank in concert with the investment securities portfolio. Manage all the proper operations around securities and derivatives portfolio management related to: portfolio valuation and risk analysis for ALCO and various other risk committees, financial reporting, planning and forecasting, Investor Relations, regulators, and internal audit, compliance with established portfolio strategies and limits as set by ALCO and transparent reporting and communication of portfolio positions and risk exposures. Demonstrated solid understanding of bank liquidity and capital regulations and accounting rules impacting investment portfolio management and interest rate derivatives is required. Act as a fixed-income market advisor and advocate for Comerica; this includes providing investment and market expertise to support the work of the Investment Subcommittee and its responsibilities to oversee benefit plan assets and investment management.

Position Qualifications

  • Bachelor's degree in Finance, Business, Economics or related field from an accredited university 7 years of experience within a financial company's treasury or investment management concentration 7 years of experience managing, or assisting in the management of investment securities portfolio 7 years of experience with structured fixed income products

5 years of experience with a bank's balance sheet management

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