Fixed Income Portfolio Manager

NCSL International; Washington (District of Columbia); On-site; USD 112,000 - 180,000; Full time

Job summary

The District of Columbia Retirement Board (DCRB) in Washington, DC, seeks a Principal Investment Analyst to contribute to all phases of the investment process—from strategic asset allocation to manager selection and portfolio monitoring.

Reporting to the CIO and working with Portfolio Managers and Investment Analysts, you will help build disciplined strategies, perform due diligence, and prepare board presentations in a small, collaborative team focused on fiduciary stewardship.

Qualifications

• Bachelor’s degree required, preferably in finance, economics, mathematics, or a related field.
• CFA or CAIA designation preferred.

Responsibilities

• Support the periodic reassessment of the strategic asset allocation and asset/liability framework.
• Assist the CIO and Portfolio Managers in portfolio construction and risk pacing across asset classes.
• Monitor portfolio performance and risk characteristics against plan objectives.
• Lead or co-lead investment manager due diligence across asset classes, including quantitative and qualitative analysis.
• Develop and maintain a deep understanding of the manager roster and conduct ongoing evaluation.

Skills

Portfolio theory

Investment management

Financial analysis

Communication

Education

Bachelor's degree

CFA designation

CAIA designation

Job description

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Washington, Dist. Columbia, United States (On-Site)

$112k-$180k / yr

Washington, Dist. Columbia, United States (On-Site)

ABOUT THE D.C. RETIREMENT BOARD

The District of Columbia Retirement Board is an independent agency of the District of Columbia Government. Our mission is to manage and control the assets of the D.C. Police Officers' and Firefighters' Retirement Plan and the D.C. Teachers' Retirement Plans, as well as to administer benefits for the members of the plans.

POSITION SUMMARY

Reporting to the Chief Investment Officer (CIO) and working alongside Portfolio Managers and Investment Analysts, the Principal Investment Analyst will contribute meaningfully to all phases of the investment process—from strategic asset allocation and manager selection to portfolio monitoring and board reporting. The role offers exposure to a broad investment program and the opportunity to develop professionally within a small, collegial team environment committed to excellence instewardship.

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Support the periodic reassessment of DCRB's strategic asset allocation and asset/liability framework, contributing analysis and perspective to inform long-term investment positioning.
• Assist the CIO and Portfolio Managers in portfolio construction, private market commitment pacing, and the ongoing calibration of risk exposures across public and private asset classes.
• Monitor portfolio performance and risk characteristics against plan objectives, identifying and escalating issues as appropriate.
• Lead or co-lead investment manager due diligence across asset classes, encompassing quantitative analysis, qualitative assessment, operational review, and reference checks.
• Develop and maintain a deep understanding of DCRB's existing manager roster, including ongoing performance evaluation, relationship management, and identification of areas for enhancement.
• Assist in negotiations with new and existing investment managers and service providers to secure competitive economic and legal terms, including fee structures, co-investment rights, and reporting requirements.

Reporting & Stakeholder Communication

• Prepare, review, and deliver investment reports, quarterly performance summaries, and presentation materials for the Board of Trustees and executive leadership.
• Communicate complex financial, market, and legal concepts clearly and accessibly to a diverse stakeholder audience, including Trustees with varying levels of investment expertise.
• Train and mentor junior investment team members and interns, fostering a culture of intellectual rigor, continuous learning, and professional development.

FUNCTIONAL COMPETENCIES

• Deep knowledge of modern portfolio theory, institutional investment management, global financial markets, and the interrelationships among asset classes, economies, and market dynamics.
• Demonstrated ability to design and implement investment strategies, with the analytical skills and systems to monitor performance and risk against plan objectives.
• Strong written and verbal communication skills, with the ability to interpret and convey complex financial and legal concepts to senior decision-makers and non-specialist audiences.
• High degree of professional integrity, attention to detail, and commitment to the fiduciary responsibilities of a public pension fund.

WORKING CONDITIONS

• Normal office environment.

This job description describes the general nature and level of work being performed by the individual(s) assigned to this position. It is not intended to be an exhaustive list of all tasks, duties, responsibilities, and skills required. Management reserves the right to modify, add, or remove duties and to assign other duties as necessary. In addition, reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this position.

EQUAL EMPLOYMENT OPPORTUNITY

DCRB is an Equal Opportunity Employer. In compliance with the Americans with Disabilities Act, the employer will provide reasonable accommodations to qualified individuals with disabilities and encourage both prospective employees and incumbents to discuss potential accommodations with the employer.

REQUIRED EDUCATION & PROFESSIONAL CERTIFICATIONS

• Bachelor’s degree required, preferably in finance, economics, mathematics, or a related field.
• Chartered Financial Analyst (CFA) or Chartered Alternative Investment Analyst (CAIA) designation preferred.