This position is eligible for incentive compensation and has a maximum incentive opportunity of 50% of base salary.
The CalSTRS Investments Branch is seeking an experienced individual to work as an Associate Portfolio Manager (APM) on the Fixed Income team.
The Fixed Income Unit is dedicated to maximizing risk-adjusted total return within a multi-asset class portfolio. They provide value through innovative/active asset allocation and bond selection by taking advantage of internally and externally managed strategies. The fixed income portfolio is managed using both enhanced and active strategies. In addition, several portfolios and programs including Treasury Inflation Protected Securities, RMS Long Duration Treasuries, Cash Management, Securities Lending and Currency Management reside within the Fixed Income unit.
Under the general direction of the Portfolio Manager, the APM provides independent analysis, consultation and securities trading experience in the development and implementation of various portfolio management, risk management, investment program strategy development and evaluation, processes and controls for the CalSTRS Structured Product Portfolios (Agency MBS, CMBS, Core Plus, Private Credit, etc). The incumbent will assist in the management of the Fixed Income Portfolio, recommend and participate in the implementation of asset allocation and various strategies consistent with policies and procedures, as well as assisting with training and development of Investment staff.
The ideal candidate will possess the following skills:
- Knowledge of investment principles and trends across multi-asset classes, both public and private
- Strong understanding of quantitative research process and methods to produce and interpret information
- Strong understanding of statistics, prepayment speed analysis, credit analysis, and modeling of structured products
- Knowledge of securitized products
- Experience trading and analyzing mortgage-backed securities
- Experience coding in R/R Studio or Python
- Experience developing and implementing investment strategies
- Experience with BlackRock’s Aladdin System for fixed income portfolio management and trading
- Excellent written and verbal communication skills
- Strong quantitative and qualitative analytical skills
- Strong leadership skills
- Ability to work independently with little direction
- Ability to innovate existing processes and create new tools
- Ability to interact with various levels of internal and external professionals with tact and diplomacy
An incumbent who possesses a professional certification in one of the following designations: Chartered Financial Analyst (CFA), Certified Commercial Investment Member (CCIM), Financial Risk Manager (FRM), Certified Investment Management Analyst (CIMA) or Chartered Alternative Investment Analysts (CAIA) may receive a 5% monthly base pay differential. Only one 5% base pay differential is eligible regardless of the number of certifications.
Relocation benefits may be available.
