Associate Portfolio Manager - Agency MBS
- Employer
- Legal & General Investment Management America
- Location
- Chicago, Illinois
- Salary
- Commensurate with experience
- Closing date
- Oct 11, 2024
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- Job Function
- Portfolio Management: Fixed Income
- Industry Sector
- Asset Management
- Employment Type
- Full Time
- Education
- Bachelors
Job Details
Overview
The Associate Portfolio Manager works as part of a team supporting Senior Portfolio Managers to invest client portfolios consistent with LGIMA’s investment strategy views.
Responsibilities
- Monitor portfolio position weights and risk analytics compared to benchmarks and targets.
- Construct trade orders to be executed.
- Execute trade orders as directed by Senior Portfolio Managers.
- Monitor portfolio positions and trade orders for compliance with client guidelines.
- Generate purchase or sell orders to meet client contributions or withdrawals.
- Manage portfolio cash balances and ensure cash balances are consistent with product guidelines and current investment strategy.
- Review and resolve any potential post trade compliance breaches.
- Liaise with other departments internally, including Legal/Compliance, Sales/Marketing, and Investment Operations.
- Understand investment decisions derived from Credit strategy meetings with respect to implementation activities
- Prepare for client on boarding by preparing buy lists based on target portfolios
- Work closely with Senior Portfolio Managers on portfolio construction and monitoring.
- Collaborate with Senior Portfolio Managers on creating marketing presentations and reports for clients.
Qualifications
- Strong Bloomberg and Excel skills required
- Developed understanding of Fixed Income basics (e.g. duration, convexity, etc.)
- Experience working with MBS analytics systems including Yield Book
- Basic understanding of the drivers of mortgage valuations and relative value
- General understanding of mortgage prepayments and their key drivers
- Basic understanding of mortgage risk measures and their applications
- Experience trading and/or working on portfolio management for agency MBS products
- Preferred experience working with an in-house mortgage database or third party mortgage data tools such as 1010data, CPR&CDR Technologies or RiskSpan
- Preferred experience using trade platforms such as Marketaccess & Tradeweb
- Preferred understanding of securitized credit products such as Asset-backed securities, Commercial Mortgage Backed Securities, Non-Agency Residential Mortgage Backed Securities, And Collateralized Loan Obligations
- Ability to work accurately under pressure and time constraints and to multi-task well
As an EOE employer, Legal & General Investment Management America will extend equal opportunity to all employees
and applicants for employment without regard to race, color, religion, gender, sexual orientation, gender identity, ancestry,
national origin, age, disability, medical condition, genetic information, marital status, pregnancy, military status, and/or any
other characteristic protected under applicable federal, state or local laws governing nondiscrimination in employment. (2024)
Company
Legal & General Investment Management America, Inc. (LGIMA) was founded in 2006 and specializes in fixed income, liability driven investment (LDI) solutions and index capabilities for the US institutional market.* We offer a range of strategies to help our clients manage their investment objectives including investment grade fixed income, which can range from market-based alpha-oriented strategies to those that are designed to be more liability-centric, derivative overlays, and indexed solutions.
Our solutions-focused culture is geared toward customization for our clients. As a firm, LGIMA has professional resources dedicated to insuring that our credit portfolios are structured in a risk-conscious manner, but can still have the ability to produce excess returns over an appropriate, sometimes custom, benchmark. Our index fund management offering extends well beyond the standard market cap weighted indices. We have the capability to manage index funds against various equity indices.
As of December 31, 2019, LGIMA managed over $219 billion in assets. Our clients include pension plans, foundations & endowments, unions, and public funds.
- Telephone
- 312-964-3108
- Location
-
71 S. Wacker Drive
Suite 800
Chicago
IL
60606
US
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