Portfolio Associate 1 - Enhanced Cash Account
The New York State Insurance Fund (NYSIF) Investments Department is seeking an experienced fixed income investment professional to manage the Fund’s Enhanced Cash Account under the direction of two senior portfolio managers (PMs). The Enhanced Cash Account holds cash and short-term investments for the Fund’s primary Worker’s Compensation portfolio (WCF). The primary objective of the cash portfolio is to provide current income while providing for daily liquidity needs and the desire to preserve capital. The Portfolio Associate will work closely with the lead PMs for corporate bonds and structured products to identify compelling relative value opportunities across multiple short-term fixed income asset classes, including government and agency markets, corporate bonds, asset-backed securities, municipal bonds and select money market instruments.
Responsibilities include, but are not limited to:
- Manage short-term cash position with the goal of outperforming the benchmark;
- Coordinate with front, middle and back office teams to anticipate cash and liquidity needs;
- Analyze short-term market trends and work with PMs to identify relative value opportunities across markets;
- Cultivate relationships with sales and research counterparties;
- Comply with all investment policy guidelines and regulations;
- Formulate and execute strategies to optimize short-term performance relative to objectives;
- Actively participate in portfolio discussions and analysis; and
- Respond to inquiries and ad-hoc project requests from CIO, senior staff and PMs.
Master’s degree with strong academic qualifications. Candidate should have a minimum of two years of experience in fixed income markets, preferably at a “buy-side” institution. Candidate should also have trade execution experience and a solid understanding of multiple fixed income asset classes, including Money Markets, Commercial Paper, Corporate Bonds, Treasuries, Agencies and Asset-backed securities. Must also be familiar with fixed income and money market trading. Familiarity with software systems used to facilitate transactions, run analytics and house data such as Bloomberg, BlackRock Aladdin, YieldBook, CAMRA and Oracle Financials is beneficial.
- Goal-oriented with solid organizational, interpersonal and communication skills;
- Strong interest in the financial markets with excellent quantitative and analytical aptitude;
- Ability to work well-independently and in a team setting, collaborating with others;
- Intellectual curiosity;
- Extensive knowledge of Bloomberg, including the API and overall framework;
- Knowledge of BlackRock Aladdin reporting capabilities is a plus; and
- Strong Microsoft Office skills, particularly in Excel.
Primary Location: NYC
The selected candidate must be a New York State resident or willing to relocate.
To Apply: Please email resume and cover letter to firstname.lastname@example.org. If necessary, candidates may also mail the information to: New York State Insurance Fund, 15 Computer Drive West, Albany, NY 12205.
The New York State Insurance Fund (NYSIF) was established in 1914 as part of the original enactment of the New York State Workers’ Compensation Law. NYSIF's mission is to guarantee the availability of workers’ compensation insurance at the lowest possible cost to New York employers and to provide timely, appropriate indemnity and medical payments to injured workers, while maintaining a solvent fund. Since inception, NYSIF has fulfilled the dual roles for which it was created: to compete with other carriers to ensure a fair market place and to be a guaranteed source of coverage for employers who cannot secure coverage elsewhere.
NYSIF is the largest workers’ compensation carrier in New York State and among the top 10 largest workers’ compensation carriers in the nation, insuring approximately 155,000 policyholders, with more than $2 billion in annual premium and $18 billion in assets. A self-supporting insurance carrier, NYSIF operates without taxpayer funding.
In addition to workers’ compensation insurance, NYSIF provides disability benefits coverage for off-the-job injuries to more than 61,000 New York employers. In 2018, NYSIF added Paid Family leave as a component of its disability benefits product, providing New Yorkers with job-protected, paid time away from work to care for their families.
Please note the following New York State Civil Service employment information:
- Jurisdictional classification: Exempt
- Bargaining unit: Management/Confidential
- Civil Service title: Special Investment Officer
Pursuant to Executive Order 161, no State entity, as defined by the Executive Order, is permitted to ask, or mandate, in any form, that an applicant for employment provide his or her current compensation, or any prior compensation history, until such time as the applicant is extended a conditional offer of employment with compensation. If such information has been requested from you before such time, please contact the Governor's Office of Employee Relations at (518) 474-6988 or via email at email@example.com.
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