Investment Analyst II - Securitized (Sr. Investment Analyst II MSRP)

Maryland AG; Baltimore (MD); Hybrid; USD 110,000 - 150,000; Full time

Benefits offered by this job

Health insurance

Dental plan

Vision plan

Pension

Telework

Job summary

Maryland State Retirement Agency in Baltimore is seeking a Senior Investment Analyst to support internally managed securitized funds and oversee related external strategies. You will perform quantitative analyses, assist in trade execution, and monitor performance and risk within a fast-paced Fixed Income unit.

The role requires a four-year degree in a quantitative field and at least three years of relevant experience; Bloomberg, YieldBook, Intex and Excel proficiency are preferred.

Qualifications

• Four-year degree in a quantitative discipline such as Mathematics, Statistics, Computer Science, Data Science, Physics, Engineering, Economics, or Finance.
• Three years of relevant investments or finance experience.

Responsibilities

• Perform analytical support for the internally managed Securitized Fund and externally managed securitized strategies.
• Assist in fundamental and quantitative analysis of securitized fixed income securities.
• Monitor and manage risk exposures of new and existing trades.
• Collaborate with portfolio managers, research providers, brokers and other teams to ensure accurate performance analytics.

Skills

Quantitative analysis

Fixed income research

Portfolio risk management

Financial modeling

Data interpretation

Education

Four-year degree in quantitative field

Tools

Bloomberg Terminal

YieldBook

Intex

Excel

Job description

Introduction

Maryland State Retirement Agency is the administrator of the Maryland State Retirement and Pension System (“System”). The System is a defined benefit retirement system covering State and local government employees of Maryland. It’s composed of twelve (12) separate retirement and pension systems with over 50 different rule sets. The System has over 433,000 participants (customers), including 210,000 members who are actively employed and participating in the System, 179,000 payees who receive a monthly payment from the System, and 44,000 vested members who are no longer actively employed but have earned a benefit that will become payable at a future date. Located in Baltimore’s Central Business District, SRPS offers a purpose-driven workplace with modern amenities, including panoramic city and harbor views, renovated common areas, upgraded elevators, and an on-site caf. Employees enjoy comprehensive state benefits including medical, dental, prescription coverage, generous paid leave, participation in the state pension system, and supplemental retirement savings options (401(k), 457(b), and more). Additional perks include an on-site fitness center with showers and lockers, 24/7 building security, and easy access to restaurants, shops, public transit, and major highways. If you’re seeking a career with impact, stability, and a supportive environment, explore opportunities with MSRPS. The Agency is seeking a Fixed Income investment professional to serve as Senior Investment Analyst in the Fixed Income unit of the Investment Division. The Senior Investment Analyst reports directly to the Managing Director of Fixed Income Currencies and Commodities team. Under the direction of the Managing Director, the Senior Investment Analyst will focus on supporting internally managed Securitized Fund and assist in sourcing, evaluating, recommending, executing, and monitoring portfolio investments. Perform quantitative analyses as assigned. Assist or lead reporting as required. This position is designated as telework‑eligible (hybrid) under the State of Maryland’s Telework Policy, after successfully completing the defined required training period. This is a Special Appointment position and serves at the pleasure of the Appointing Authority.

GRADE

MSRP0009

LOCATION OF POSITION

120 East Baltimore Street, Baltimore, Maryland 21202

Main Purpose of Job

The purpose of this position is to independently perform all front office support functions for the internally managed Securitized Fund, assist with oversight of externally managed strategies within securitized space or as assigned, contribute to the trading process, perform relevant research and analysis, routinely generate actionable investment recommendations, perform due diligence, modeling and monitoring.

POSITION DUTIES

• Performing complete analytical support for the internally managed Securitized Fund and for externally managed Securitized strategies.
• Assisting the Senior Portfolio Manager in conducting fundamental & quantitative analysis of securitized fixed income securities.
• Monitoring and managing risk exposures and risk level of new and existing trades.
• Collaborating with portfolio managers, research providers, and broker dealers to gather insights and information for trading decisions.
• Collaborating with other teams within the Investment Division to ensure accuracy of the performance and risk analytics for all Securitized investments.
• Reviewing and reconciling cash, positions, performance and trading activity with the portfolio management system, the compliance system, the custodian & the risk system.
• Managing relationships with counterparties including supporting adding brokers.
• Participating in executing legal agreements such as MSFTAs and futures give-up agreements.
• Contributing to trading and to process of trading and serving as an effective back up to the Lead Portfolio Manager for an internally managed Securitized Fund.
• Monitoring economic indicators, markets, external research or anything else relevant for the Rate Sensitive and Credit portfolios.

MINIMUM QUALIFICATIONS

• Education: A four-year degree from an accredited four college/University in quantitative discipline such as Mathematics, Statistics, Computer Science, Data Science, Physics, Engineering, Economics, or Finance.
• Experience: Three years of relevant investments or finance experience.

Notes:

• Applicants may substitute a minimum of four years of additional relevant investments or finance experience for the required education qualification.
• Relevant master’s degrees, CFA, or CPA can count for two years of relevant professional experience.
• CAIA can count for one year of relevant professional experience.
• A relevant PhD can count for the required professional experience.

DESIRED OR PREFERRED QUALIFICATIONS

• Master’s Degree from an accredited University with a focus on STEM or Finance.
• Two (2+) years of hands‑on experience in Mortgage‑Backed Securities portfolio support.
• CFA designation.
• Expert knowledge of Bloomberg Terminal software.
• Familiarity with Yieldbook and Intex.
• Expert knowledge of Excel.
• Strong level of curiosity with macroeconomics and about global fixed income markets.
• Comfortable in an unstructured environment.
• Able to synthesize disparate sources of information into an understandable opinion.
• Comfortable with complexity and frequently bespoke fixed income structures.

SPECIAL REQUIREMENTS

A resume and cover letter are required to be uploaded with your application. Please combine the resume and cover letter into one pdf file to upload to application. Due to the confidential nature of the work, selected candidates must undergo and pass a background and credit check.

SELECTION PROCESS

Please make sure that you provide sufficient information on your application to show that you meet the minimum for this recruitment. All information concerning your qualifications must be submitted by the closing date. We will not consider information submitted after this date. Successful candidates will be ranked and placed on the employment (eligible) list for at least one year. This list will be used by the hiring agency to select employees. For education obtained outside the U.S., a copy of the equivalent American education as determined by a foreign credential evaluation service must be provided prior to hire. Due to the confidential nature of the work, selected candidates must undergo and pass a background check.

EXAMINATION PROCESS

The examination will consist of a rating of your education, training, and experience as presented on your application and as they relate to the requirements of the position. You may be asked to complete a supplemental questionnaire. The supplemental questionnaire may be used as part of the rating process. Therefore, it is important that you provide complete and accurate information on your application.

BENEFITS

STATE OF MARYLAND BENEFITS

• As an employee of the State of Maryland, you will have access to outstanding benefits, including: health insurance, dental, and vision plans offered at a low cost.
• Personal Leave - new State employees are awarded six (6) personnel days annually (prorated based on start date).
• Annual Leave - ten (10) days of accumulated annual leave per year.
• Sick Leave - fifteen (15) days of accumulated sick leave per year.
• Holidays - State employees also celebrate at least thirteen (13) holidays per year.
• Pension - State employees earn credit towards a retirement pension.
• Positions may be eligible for telework.