Fixed Income Portfolio Manager — Hybrid

Vanguard; Malvern (Chester County); On-site; USD 180,000 - 280,000; Full time

Job summary

Vanguard in Malvern, PA, is hiring for an experienced fixed income portfolio management role. The position supports two lead PMs across CORE and CORE+ strategies, contributing to portfolio construction, risk management, trading, and implementation while collaborating with sector teams and investment professionals.

The ideal candidate has eight or more years in active fixed income investing, strong risk management skills, and experience with derivatives. CFA is preferred.

Qualifications

• Eight or more years of experience in active fixed income investing.
• Strong understanding of credit risk, interest rate risk, and currency risk management.
• Experience utilizing derivatives markets and instruments within portfolio management strategies.

Responsibilities

• Oversee portfolio construction, risk positioning, liquidity management, and cash allocation across Vanguard's CORE and CORE+ active fixed income strategies.
• Maintain consistency across mandates by interpreting investment strategy objectives and ensuring alignment with portfolio guidelines and risk parameters.
• Collaborate with sector teams to manage portfolio positioning within target ranges while optimizing the use of cash, derivatives, and other investment tools.
• Execute fixed income transactions directly and through trading desks to support portfolio objectives and implementation needs.
• Generate and evaluate macroeconomic and cross-asset investment ideas that contribute to portfolio performance and risk-adjusted returns.
• Manage assigned overlay strategies across interest rates, currencies, and credit derivatives, as delegated by lead portfolio managers.
• Partner with capital markets and sector teams to support ETF create/redeem activity and portfolio implementation for active fixed income ETFs.
• Monitor portfolio risks and identify opportunities to enhance processes, analytics, models, and portfolio management practices.
• Develop and deliver investment reviews, portfolio updates, and presentations for internal stakeholders and external clients.
• Represent the portfolio management team in client meetings and other forums as needed.
• Contribute to strategic initiatives, special projects, and continuous improvement efforts across the investment team.

Skills

Analytical skills

Communication

Relationship management

Cross-functional collaboration

Education

Bachelor's degree in Finance, Economics, Mathematics, Statistics

CFA designation preferred

Job description

Vanguard in Malvern, PA, is hiring for an experienced fixed income portfolio management role. The position supports two lead PMs across CORE and CORE+ strategies, contributing to portfolio construction, risk management, trading, and implementation while collaborating with sector teams and investment professionals.

The ideal candidate has eight or more years in active fixed income investing, strong risk management skills, and experience with derivatives. CFA is preferred.