Assistant Portfolio Manager - fixed income
Assistant Portfolio Manager
The AFL-CIO Housing Investment Trust (HIT) is an investment company with nearly $6bb in assets under management. HIT offers a fixed income product primarily investing in mortgage backed securities with a focus and specialization in multifamily commercial mortgage investments. HIT has over 370 institutional investors consisting of union pension funds, health and welfare plans and labor unions. HIT’s focus provides investors with a low credit risk investment that is a source of attractive current income and liquidity, provides principal protection, and can provide a better source of diversification than other fixed-income investments. The HIT has a long track record of success with strong performance. The HIT directly sources and trades multifamily and healthcare construction-related investments that generate competitive returns while also creating union jobs and affordable housing. Since inception, the HIT has committed $8.1 billion to nearly 500 projects and generated an estimated 79,500 union construction jobs.
We are looking to add an Assistant Portfolio Manager to our DC based Portfolio Management Group. The Assistant Portfolio Manager must build solid internal relationships and partnerships with Portfolio Management, Finance and Compliance teams.
Primary Job Functions
The Assistant Portfolio Manager will work closely with the Portfolio Managers and Senior Financial Analyst in the Portfolio Management Group.
- Analyze and trade structured products which may include: single family and multifamily mortgage backed securities, CMBS and short-term investments.
- Perform portfolio management research and due diligence as necessary, including but not limited to, relative value and quantitative analysis.
- Develop and execute portfolio strategies to meet portfolio objectives.
- Model and value the Trust’s investment portfolio on a monthly basis.
- Security selection and generate trading opportunities consistent with portfolio strategy and objectives and within the Trust’s investment guidelines and authorities.
- Prepare and analyze portfolio reports.
- Review trade and valuation documentation for compliance with procedures and policies.
- Agency RMBS, CMBS, Treasury and municipal research and analysis
- Portfolio management and macro-economic research and analysis
- Yield curve analytics
- Monitor and assist in managing portfolio duration consistent with set targets
- Macro-economic research and analysis
- 3+ years of experience trading/managing in agency RMBS/CMOs both in fixed rate specified and TBA flows and hybrid ARM/strip floating rate CMOs
- CFA Charterholder, or active candidate a plus
- Strong excel modeling skills, including statistical modeling
- Knowledge of structured products
- Knowledge of Bloomberg and portfolio management software
- Strong interpersonal skills and proven ability to build strong relationships with Portfolio Managers and across departments
- Ability to work collaboratively across the organization to resolve issues
- Outstanding analytical skills with strong problem solving skills
- Proven ability to operate efficiently in a high pressure environment and to deliver towards tight deadlines
Degree in finance, economics, mathematics or other related quantitative/analytical field from a leading, accredited college or university or equivalent experience.
HIT is committed to offering competitive and comprehensive employee benefits designed to support the health and well-being of you and your family. Benefits vary by location but may include:
- Employer paid medical, dental, and vision coverage
- Life insurance and travel coverage
- Employer paid Pension Plan (defined benefit)
- 401(k) retirement plan (defined contribution)
- Work/life programs such as parental leave and support and educational/CFA certification reimbursement programs
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