Senior Securities Analyst or Assistant Portfolio Manager, Fixed Income

Focus: Securitized Products

Principal Duties and Responsibilities:

Senior Securities Analyst, Grade 312 & Assistant Portfolio Manager, Grade 314:

1. Participate in investment strategy discussions and assist in the development of portfolio strategies based upon the analysis of macro-economic factors and sector fundamentals as they affect the level of interest rates and the relative value among fixed income sectors, such that fixed income performance exceeds the benchmark on a long-term basis.
2. Research, analyze and develop recommendations pertaining to the valuations and trends of the residential housing market, commercial real estate loan market and consumer finance markets.
3. Develop scenarios, which include both the path of interest rates and relevant collateral risk into the pricing of underlying assets in mortgage-backed securities, CMBS and ABS.
4. Research, analyze and conduct due diligence on the deal structures and tranches of mortgage-backed securities, CMBS and ABS.
5. Integrate underlying collateral analysis with deal structure and tranche analysis to determine relative value.
6. Make recommendations regarding present and future relative values of fixed income sectors and securities.
7. Participate in investment strategy discussions with other fixed income associates.
8. Assist in developing and implementing fixed income investment strategies for the Annual Investment Plan.
9. Utilize and support analytics systems to analyze market and portfolio risks.
10. Occasional travel including calling on sell-side and rating agency analysts, and attending seminars, conferences and financial analyst meetings.
11. Prepare special projects as directed.

Knowledge, Skills, and Abilities:

Senior Securities Analyst, Grade 312:

1. Bachelor's degree in business administration with emphasis in accounting, finance, or related field required; Master's degree with emphasis in finance preferred.
2. Four to five years’ demonstrated success as a securitized products portfolio manager, trader or analyst required.
3. Demonstrated securitized products proficiency including agency mortgaged-backed securities, non-agency MBS, CMBS, ABS and relevant derivatives required.
4. Demonstrated ability to research, analyze, and make investment recommendations.
5. Demonstrated knowledge of investment process and fixed income securities valuation, the ability to execute, various fixed income trading strategies required.  Knowledge of relevant analytical software preferred.
6. Successful completion of Chartered Financial Analyst Program (CFA) strongly recommended.
7. Superior oral and written communication skills.
8. Ability to work well with minimal direct supervision.
9. Excellent work record of attendance and punctuality; occasional evening, weekend and non-regular work hours required.

Assistant Portfolio Manager, Grade 314:

1. Bachelor's degree in business administration with emphasis in accounting, finance, or related field required; Master's degree with emphasis in finance preferred.
2. Six to ten years demonstrated success as a securitized product portfolio manager, trader or analyst required.
3. Demonstrated securitized products proficiency including agency mortgaged-backed securities, non-agency MBS, CMBS, ABS and relevant derivatives required.
4. Demonstrated knowledge of investment process and fixed income securities valuation, and the ability to execute, various fixed income trading strategies required. 
5. Knowledge of relevant analytical software preferred.
6. Successful completion of Chartered Financial Analyst Program (CFA) strongly recommended.
7. Demonstrated ability to research, analyze, and make investment recommendations.
8. Superior oral and written communication skills.
9. Ability to work well with minimal direct supervision.
10. Excellent work record of attendance and punctuality; occasional evening, weekend and non-regular work hours required.

The above list of duties is intended to describe the general nature and level of work performed by persons assigned to this classification. It is not to be construed as an exhaustive list of duties performed by the persons so classified, nor is it intended to limit or modify the right of any supervisor to assign, direct and control the work of associates under his or her supervision.