Fixed Income Portfolio Manager

Northern Trust; Chicago (IL); On-site; USD 137,400 - 233,600; Full time

Job summary

Northern Trust is seeking a seasoned Fixed Income Portfolio Manager within NTAM to lead multi-sector corporate credit efforts. You will manage investments, analyze risk, and contribute to strategy underpinned by a disciplined investment philosophy.

The role requires strong analytical skills, Bloomberg proficiency, and comfort with ML/AI tools; collaboration with global teams and client engagement are essential.

Qualifications

• At least 5 years of active fixed income portfolio management experience.
• Corporate credit-specific fundamental knowledge.
• 1-3-5 year investment track record a strong plus.
• Knowledge of structural economic principles and trends across markets, roles of industry participants, risk management, reporting.
• Independent thinker who finds hidden opportunities.
• Strong quantitative, financial analysis and problem-solving skills.
• Excellent presentation and writing skills; ability to clearly communicate portfolio features and investment process.
• Proficiency in Excel and Bloomberg; familiarity with ML/AI tools; Python analytics a plus.

Responsibilities

• Serve as portfolio manager and thought leader on multi-sector strategies within NTAM's taxable fixed income team.
• Monitor and report on market conditions; propose investments; participate in portfolio construction with a risk-aware approach.
• Maintain alignment of risk exposures across portfolios with shared objectives.
• Analyze performance vs benchmarks, including risk-adjusted returns and tracking error.
• Contribute to team investment philosophy and governance.
• Develop new portfolio strategies by evaluating fixed income market dynamics and AI-enabled analytics.
• Design prototypes to systematize investment decision workflows.
• Collaborate with global fixed income staff and engage with clients on opportunities.

Skills

Excel

Bloomberg

Python

Machine learning

AI tools

Financial analysis

Problem solving

Communication

Education

Bachelor's in Finance

MBA preferred

CFA/CAIA preferred

Tools

Python

AI tooling

Job description

About Northern Trust

As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families, corporations and institutions.

Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide.

With more than 135 years of financial experience and over 24,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

About Northern Trust Asset Management

We are a premier asset management firm, focusing on delivering unique insights and superior risk-adjusted returns in partnership with our clients.

Global Fixed Income

Our research and portfolio management teams are fully integrated because we believe the combination of these skill sets and perspectives directly benefits our clients. Portfolio managers bring market knowledge of the structural and fundamental drivers of asset classes, sectors, and individual credits acquired through years of experience and research. Fundamental researchers provide a deeper analysis of individual issuers, examining risk and return opportunities across the entire capital structure while also incorporating non-financial risks into their analysis. Quantitative researchers provide a complementary skill set in the form of higher-level quantitative and programming skills that are applied to the development and improvement of both our security selection and overall investment processes.

The combination of these skills sets, combined with our macroeconomic research and scenario analysis, provides for a sophisticated, intuitive, and fundamental approach to making investment decisions. We view ourselves as managers of risk with our analytics integrated into our investment process, providing the common language we all speak. In addition to vendor systems, we have also built proprietary tools that allow our teams to accurately define and measure key risks.

Our investment team is supported by a robust infrastructure of traders, operations, client service, and dedicated risk management and systems professionals who provide the framework upon which our overall business is supported.

Responsibilities

• Serve as portfolio manager and thought leader on multi-sector strategies within NTAM’s taxable fixed income team, working independently to contribute investment ideas. The primary sector focus will be on corporate credit valuation. Portfolio construction decisions will involve securitized assets and interest rate strategy as well.
• Monitor and report on market and economic conditions, propose appropriate investments, and participate in portfolio construction, all within a fundamental risk-aware context, in a manner consistent with each client’s investment objectives.
• Maintain alignment of risk exposures across portfolios with common objectives
• Analyze and report on the performance of each portfolio’s relative to its respective benchmark, including risk-adjusted excess returns, performance attribution, and actual tracking error vs. expected.
• Contribute to team’s disciplined investment philosophy
• Assist in the development of new portfolio strategies through evaluation of fixed income market structural dynamics, with a focus on the evolution of fundamental risk factors, the introduction of innovative investment products, and the changing behavior of major market participants
• Design and develop prototypes to systematize investment decision workflows.
• Work in close coordination and partnership with all global fixed income staff
• Engage with our most sophisticated clients for new business and existing relationships
• Establish and maintain professional contacts within the Fixed Income industry to further develop market knowledge and expertise

Qualifications

• At least 5 years of active fixed income portfolio management experience
• Corporate credit-specific fundamental knowledge
• A demonstrated 1-3-5 year investment track record a strong plus
• Knowledge of structural economic principles and trends across various markets, the roles of various industry participants, as well as management techniques related to retail and institutional portfolios, including risk management, monitoring, and reporting
• A creative thinker who prides him/herself on independent thinking and uncovering hidden opportunities.
• Strong quantitative, financial analysis and problem-solving skills
• Strong presentation and writing skills and the ability to clearly communicate portfolio features and articulate investment philosophy and process, portfolio holdings, and the rationale behind portfolio construction. Ability to demonstrate investment credibility.
• Proficiency in Excel and Bloomberg. Familiarity with machine learning and AI tools. Ability to code in Python and/or develop analytics using AI methods a strong plus.

Behavioral Competencies

• Collaborative and team-oriented with superior interpersonal skills
• Respectful of others and the collective goals of the Fundamental Team and Global Fixed Income group overall
• A keen passion for his/her work, matched with a high level of intellect, curiosity, humility, drive, and energy
• Result-oriented, focus on quality delivery, determination, and confidence to succeedSelf-taught, intellectually curious, confident, high-conviction, ability to think on his/her feet
• Unquestionable professional integrity and ethics

Education

• Bachelor’s Degree in finance, economics, or related field. Masters’ Degree / MBA or industry certifications (CFA, CAIA etc.) preferred.

Salary Range

$137,400 - 233,600 USD

Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.

Work Authorization

Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).

Working with Us

As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to an inclusive workplace and assisting the communities we serve.

Philanthropy is deeply rooted in Northern Trust’s history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of your communities.

Reasonable Accommodation

Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at [e-mail], or alternatively you can discuss your individual requirements with the recruiter you are working with.