Agency MBS Portfolio Manager

Washington D.C.
To be discussed
20 Mar 2023
19 Apr 2023
Industry Sector
Asset Management
CFA Charterholder
Employment Type
Full Time

The World Bank Treasury

Are you inspired by a global mission to end poverty? Do you want to build a career in finance with a global impact? The World Bank Treasury is one of the few places where you can be on the leading edge of finance as it sits at the only nexus of finance, innovation, and international development. We manage the institution's finances to enable all World Bank operations and lending. Each year, we issue over $50 billion in bonds, prudently manage over $180 billion in assets, and process over $7 trillion in transactions.

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Duties and Accountabilities: The Portfolio Manager will be a member of the MBS investment team and report to the head of the MBS team in Washington DC. The MBS team is part of the global asset management operations managed by the Manager of TREAM in Washington DC.

The MBS team manages numerous client MBS portfolios against the Bloomberg MBS Index as well as other structured products (CLO/ABS/CMBS) within various mandates. An integral part of the work of the MBS team consists of capacity transfer to our client institutions, including regular analytical reporting, on-site training, market update presentations and participation in workshops.

The portfolio manager will be expected to undertake the following roles in addition to contributing to other initiatives as needed.

  1. Contribute to the design, development and execution of the investment policy and portfolio construction for various fixed-income portfolios managed by Treasury focusing on Agency Mortgage Backed Securities and other structured products, based on applicable investment objectives and risk tolerance considerations within an asset and/or asset-liability management framework and consistent with the philosophy of the Treasury Asset Management team;
  2. Contribute to the design, development and implementation of new trading techniques and quantitative models/tools for the investment portfolios;
  3. Keep abreast of market developments affecting different asset classes within and outside of the fixed income sector with a view to identifying investment opportunities and implications for existing portfolios under management;
  4. Support the periodic review of investment portfolios under management including preparation and presentation of materials to obtain management and investment committee approval of the investment policy and asset allocation recommendations;
  5. Undertake strategy and performance reviews of client portfolios;
  6. In coordination with TRE business partners, participate in client mandate implementations and portfolio adjustments, efficient trade processing, effective risk management and performance measurement/attribution of the structured products portfolios, suggesting improvements when necessary  
  7. Participate in professional collaboration (on-site missions, technical advisory engagements, workshops, client meetings and internships) with official sector reserves managers of member countries, other official sector instutions and other TRE business partners in the areas of investment policy, asset allocation, best practices, market strategy/outlook and portfolio/performance reviews;
  8. Contributing to additional projects as needed within the department.

Selection Criteria:

  1. Masters Degree in Business, Finance, Economics, Mathematics, Statistics or a related field with a minimum of 5 years experience in fixed income and securitized product (MBS/ABS/CLO/CMBS) asset management. An undergraduate degree will be considered with an additional level of direct professional experience. Professional certification in CFA is a plus.
  2. Strong knowledge of the U.S. Agency mortgage-backed securities and the broader securitized products markets preferably through trading and/or portfolio management experience.  
  3. Solid quantitative and analytical skills and familiarity with the modeling of MBS and other structured products.  
  4. Knowledge of front office operations related to global fixed income, money markets and other financial instruments.  
  5. Experience with systems supporting trading activities including processes and controls surrounding the asset management business.
  6. Excellent verbal and written communication skills. Experience giving presentations and interacting with a broad range of audiences is highly desirable.
  7. Demonstrated ability to collaborate across multidisciplinary teams in order to foster strategic business partnerships.  
  8. Proven capacity to multi-task, deliver results and respond quickly and effectively to requests.
  9. A quick learning ability with strong initiative and drive, as well as attention to detail.
  10. Excellent team player with strong interpersonal skills, and a commitment to work in a team-oriented, multicultural environment with the highest ethical standards.
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