Currency and Derivatives Portfolio Manager, State Street Investment Management, AVP

State Street; London; On-site; GBP 70,000 - 90,000; Full time

Job summary

State Street Investment Management is seeking a Portfolio Manager to join their derivatives solutions team. The role entails managing currency portfolios and collaborating across teams to enhance client outcomes. Ideal candidates will have a strong grasp of FX hedging strategies and a commitment to fiduciary standards.

Benefits

Competitive medical care

Flexible work programs

Development programs and educational support

Paid volunteer days

Qualifications

• Strong understanding of FX hedging strategies.
• Highly analytical with large datasets.
• Advanced degree or progress towards CFA is preferred.

Responsibilities

• Design and monitor FX hedging programs.
• Collaborate with FX trading desk.
• Respond to client inquiries about hedging programs.

Skills

Passive and dynamic FX hedging strategies

Macroeconomic trends

Analytical skills

Interpersonal and communication skills

Attention to detail

Education

Advanced degree or CFA designation

Tools

Excel

Bloomberg

VBA

Job description

Role Overview:

Join a dynamic derivatives solutions team managing both passive and dynamic currency portfolios across fixed income, equity, and multi-asset strategies. This portfolio management role involves trade generation, monitoring, and broader portfolio management responsibilities, including collaboration with the LDI (Liability-Driven Investment) team. You will also collaborate with the other portfolio managers in the team in the day-to-day management of the currency overlay business, with a focus on delivering strong client outcomes and minimizing operational risk. Over time, you will take ownership of individual accounts and engage directly with clients.

Key Responsibilities:

• Design, implement, and monitor internal and external FX hedging programs in line with investment guidelines across developed and emerging markets.
• Collaborate with the FX trading desk to provide trade instructions, manage roll schedules, and address portfolio-specific hedging needs.
• Support new account onboarding by coordinating with legal, compliance, and client service teams.
• Proactively contribute to the enhancement of internal systems and processes in partnership with the technology team.
• Monitor and analyze portfolio performance, ensuring alignment with client objectives and risk parameters.
• Respond to client and consultant inquiries regarding hedging programs and portfolio activity.
• Assist in client servicing efforts, including the preparation and delivery of presentation materials and reporting packages.
• Uphold the highest fiduciary standards in all aspects of portfolio management.
• Participate in the management of LDI portfolios over time

Skills & Experience:

• Strong understanding of passive and dynamic FX hedging strategies.
• Familiarity with major currency hedging index methodologies.
• Solid grasp of macroeconomic trends and their influence on currency markets.
• Experience with FX tenor management is a plus.
• Highly analytical with the ability to interpret complex performance attribution and large datasets.
• Exceptional attention to detail and accuracy, especially under time-sensitive conditions.
• Strong interpersonal and communication skills, both written and verbal.
• Ability to work independently and collaboratively within a team environment.
• Proficiency in Excel; experience with Bloomberg and VBA is advantageous.
• Advanced degree and/or CFA designation (or progress toward it) is preferred.

Personal Attributes:

• High integrity and professional ethics.
• Strong organizational and time management skills.
• Analytical and systematic thinker with a keen eye for detail.
• Collaborative team player with a proactive and positive communication style

About State Street Investment Management

What We Do. As the asset management arm of State Street Corporation, State Street IM has served the world’s governments, institutions and financial advisors for over four decades. With a rigorous, risk-aware approach built on research, analysis and market-tested experience, we build from a breadth of active and index strategies to create cost-effective solutions. As stewards, we help portfolio companies see that what is fair for people and sustainable for the planet can deliver long-term performance. And, as pioneers in index, ETF, and ESG investing, we are always inventing new ways to invest. As a result, we have become one of the world’s largest asset managers with trillions of dollars under our care.

Our Mission. At State Street IM our mission is to invest responsibly to enable economic prosperity and social progress. We are driven by a desire to help our clients, and those who rely on them, achieve a better future. We have a long history of developing innovative investment strategies to provide our clients with reliable and transparent returns, cost-effectively, and without excessive risk.

Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location, but you may expect generous medical care, insurance and savings plans, among other perks. You’ll have access to Flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.

Inclusion, Diversity and Social Responsibility. We truly believe our employees’ diverse backgrounds, experiences and perspectives are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift programs and access to employee networks that help you stay connected to what matters to you.

State Street is an equal opportunity and affirmative action employer.

End Date: September 10, 2025

For further information, and to apply, please visit our website via the “Apply” button below.