Vice President - Portfolio Manager/Trader

BNY Mellon; London; Hybrid; GBP 60,000 - 120,000; Full time

Job summary

Join a forward-thinking financial services leader as a Vice President - Portfolio Manager/Trader. This hybrid role in London offers the opportunity to manage an EMEA securities investment portfolio, focusing on maximizing returns while ensuring compliance with regulatory limits. Collaborate with a talented team to develop innovative investment strategies and maintain strong relationships with market participants. With a commitment to excellence and a culture that empowers you to grow, this position is perfect for those passionate about making a significant impact in the financial sector. Experience a rewarding career with competitive compensation and a supportive work environment.

Benefits

Flexible work arrangements

Generous paid leave

Health and wellbeing programs

Paid volunteer time

Qualifications

• Prior front-office portfolio management experience in fixed income.
• Strong understanding of funding and liquidity management strategies.

Responsibilities

• Manage EMEA securities investment portfolio and risk management.
• Develop investment strategies to optimize returns and balance sheet.

Skills

Portfolio Management

Risk Management

Fixed Income Market Knowledge

Communication Skills

Treasury Product Knowledge

Understanding of Regulations

Education

Bachelor's Degree in Finance or related field

FCA Certification

Tools

Risk Management Systems

Job description

At BNY, our culture empowers you to grow and succeed. As a leading global financial services company at the center of the world’s financial system we touch nearly 20% of the world’s investible assets. Every day around the globe, our 50,000+ employees bring the power of their perspective to the table to create solutions with our clients that benefit businesses, communities and people everywhere.

We continue to be a leader in the industry, awarded as a top home for innovators and for creating an inclusive workplace. Through our unique ideas and talents, together we help make money work for the world. This is what #LifeAtBNY is all about.

We’re seeking a future team member for the role of Vice President - Portfolio Manager/Trader to join our EMEA Chief Investment Office team. This role is located in London – hybrid.

The Chief Investment Office manages the security portfolio for the Institutional Bank of New York and executes fixed income cash and derivative trades with the goal of maximizing net interest income and reducing balance sheet costs whilst staying in compliance with all regulatory limits and balance sheet constraints. The EMEA CIO team focuses on the international securities portfolio, predominantly managing portfolios on behalf of International Corporate Treasury.

The Portfolio Manager will be a key member of the EMEA CIO Desk. The role will report into the Head of EMEA CIO and will focus on the EMEA securities portfolio, whilst working closely with the broader CIO group, based in New York, and the wider International Corporate Treasury Team. The investment portfolio is largely invested in high quality, liquid securities, which would generally support the desk in meeting the internally assessed liquid asset buffer (LAB) requirements, for the purposes of maintaining adequate liquidity whilst optimizing returns for the bank. The portfolio also supports the broader interest rate strategy of BNY both globally and locally, with a global focus on the interest rate strategies for GBP and EUR global balances.

Responsibilities of EMEA Portfolio Manager:

1. Managing the execution and performance of an EMEA securities investment portfolio, including all aspects of risk management covering credit, market, and liquidity risk.
2. Monitoring of markets and due diligence across treasuries, sovereign, supranational, covered bonds, and international RMBS/ABS to identify investment opportunities.
3. Together with team members, develop investment strategies for EMEA portfolios with the aim of optimizing returns and balance sheet, while staying within risk appetite.
4. Monitoring of activities related to the investment portfolio, while adhering to the legal entity and corporate level investment guidelines.
5. Day-to-day management of the legal entity liquid asset buffer requirements and testing of sources of liquidity identified in legal entity contingency funding plans.
6. Work closely with the International Treasury team in terms of funding and liquidity management in compliance with all internal and external regulatory limits including IRRBB, LCR, Volcker limits, market limits, credit limits, large exposure limits, and capital limits, as required.
7. Ensuring strong systems, controls, and processes in place, e.g., adhering to trader mandates.
8. Working with internal technology teams on the development of risk systems and reporting.
9. Provide treasury investment portfolio execution coverage for other legal entities in EMEA, as required.
10. Maintain key relationships with Issuers and sell-side market participants.

To perform this role, the candidate will need prior front-office portfolio management experience including a working knowledge of the fixed income market, treasury product knowledge, risk management skills, understanding of regulations governing the International Treasury business, and a good understanding of funding and liquidity management strategies. The candidate will also need to have strong written and communication skills.

The technical skills, knowledge, and qualifications required for this role are summarized below:

• Treasury front office and/or rates trading experience, with a track record in areas of EGBs, SSA, covered bonds preferred.
• Good understanding of fixed income market, macroeconomics, and yield curve dynamics across major currencies.
• Good understanding of fixed income derivatives and interest rate swap fundamentals and execution experience.
• An understanding of bank portfolio liquidity and capital constraints.
• FCA certification preferred.
• Strong risk management skills and understanding of the regulatory environment.

At BNY, our culture speaks for itself. Here’s a few of our awards:

• America’s Most Innovative Companies, Fortune, 2024.
• World’s Most Admired Companies, Fortune 2024.
• Human Rights Campaign Foundation, Corporate Equality Index, 100% score, 2023-2024.
• Best Places to Work for Disability Inclusion, Disability: IN – 100% score, 2023-2024.
• “Most Just Companies”, Just Capital and CNBC, 2024.
• Dow Jones Sustainability Indices, Top performing company for Sustainability, 2024.
• Bloomberg’s Gender Equality Index (GEI), 2023.

Our Benefits and Rewards:

BNY offers highly competitive compensation, benefits, and wellbeing programs rooted in a strong culture of excellence and our pay-for-performance philosophy. We provide access to flexible global resources and tools for your life’s journey. Focus on your health, foster your personal resilience, and reach your financial goals as a valued member of our team, along with generous paid leaves, including paid volunteer time, that can support you and your family through moments that matter.

BNY is an Equal Employment Opportunity/Affirmative Action Employer - Underrepresented racial and ethnic groups/Females/Individuals with Disabilities/Protected Veterans.