Investment Officer - Fixed Income
State of Washington
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Descripción de la vacante
The Washington State Investment Board (WSIB) is seeking an Investment Officer, Fixed Income, in Olympia. The role emphasizes rigorous credit analysis, disciplined investment decisions, and clear communication to support fund beneficiaries.
Qualifications include a Bachelor's degree in finance/economics, 4 years fixed income experience, and proficiency with Bloomberg and Excel. WSIB offers a hybrid schedule with 60% in the Olympia office and comprehensive benefits.
Formación
- Bachelor’s degree in finance, economics, business, or related field.
- Four years of fixed income investment experience in areas such as credit analysis, portfolio management, or economic analysis.
- A CFA or Master’s degree may substitute for up to two years of experience.
- Experience analyzing corporate credit issuers in the finance sector.
- Ability to communicate complex information clearly and work with others.
Responsabilidades
- Perform in-depth credit analysis and make buy, hold, or sell recommendations in finance.
- Analyze primary issuance daily and provide timely recommendations.
- Evaluate secondary opportunities to add value to portfolios.
- Monitor credit quality and communicate views to leadership.
- Prepare written and verbal analyses to support investment views.
Conocimientos
Educación
Herramientas
Descripción del empleo
This recruitment will remain open until filled, and it is in the candidate’s best interest to apply early. The Washington State Investment Board (WSIB) is a dedicated global investment management organization with over $233.9 billion in assets under management. The WSIB's globally diversified portfolios are comprised of more than 17,000 holdings across 91 countries on 6 continents and in 50 currencies. The WSIB's central mandate is to maximize return at a prudent level of risk. The WSIB manages investments for 18 retirement plans for public employees, teachers, school employees, law enforcement officers, firefighters, and judges. We also manage investments for several other important public funds that benefit Washington’s industrial insurance program, colleges and universities, and developmental disability programs. The WSIB’s excellent investment performance dramatically contributes to the state’s bottom line.
To learn more about our organization and the work we do, please visit our website at sib.wa.gov and follow us on LinkedIn.
The WSIB operates in a hybrid work environment, and this position should anticipate 60% of their time in the Olympia office.
The WSIB is seeking a qualified candidate to join our Fixed Income team as an Investment Officer (IO) reporting to the Assistant Senior Investment Officer (ASIO). This is an opportunity to join a globally recognized investment management organization. The primary objective of IO – Fixed Income is the prudent and productive management of the entrusted funds allocated to Fixed Income in a manner consistent with statutes, regulations, Board policies, and the highest standard of professional conduct for the exclusive benefit of fund beneficiaries.
The ideal candidate brings strong credit analysis skills, sound judgment, and a disciplined investment mindset. They are intellectually curious, comfortable forming independent views, able to communicate those views clearly, and work well independently. They also are collaborative, team oriented, and demonstrate integrity in all decisions.
If Selected For This Opportunity, You Will
- Perform in-depth credit analysis and make buy, hold, or sell recommendations on companies in the finance sector (banking, brokerage, finance, and insurance companies) across investment grade, high yield, and emerging markets asset classes.
- Analyze and evaluate primary issuance daily and make timely recommendations from fundamental and relative value perspectives.
- Evaluate secondary opportunities to add value to the portfolios.
- Monitor the credit quality of existing holdings; identify companies that have improving, stable or deteriorating fundamentals, and communicate these views to the Senior Investment Officer (SIO) and ASIO on a timely basis.
- Monitor, analyze, and evaluate company and industry developments, credit risks, and opportunities affecting the finance sector.
- Analyze macro and microeconomic factors affecting the finance sector.
- Utilize resources including Bloomberg, the internet, investment banks, news outlets, independent sources, rating agencies, issuers, and conference calls for research.
- Prepare and deliver written and verbal analyses to support investment views and communicate complex information clearly to the SIO and ASIO on a timely basis.
- Collaborate with the SIO and ASIO while also working independently to meet deadlines and manage priorities.
- Keep abreast of changes in fixed income and overall capital markets, and developments in investment principles and methods.
- Perform additional duties as required to support the fixed income team and broader WSIB objectives.
COMPETITIVE APPLICANTS WILL HAVE:
- Bachelor’s degree in finance, economics, business, or a related field.
- Four years of fixed income investment experience in areas such as corporate credit analysis, company analysis, industry analysis, portfolio management, or economic analysis.
- A relevant Master’s degree or Chartered Financial Analyst (CFA) designation may substitute for up to two years of required experience.
- Experience may not include managing your personal portfolio.
- Experience analyzing corporate credit issuers in the finance sector. Applicant must be able to:
- Understand industry drivers and integrate market and regulatory developments into company evaluations.
- Evaluate corporate fundamentals and relative values across issuers and sectors.
- Analyze companies in emerging markets.
- Demonstrated strong analytical and research skills including financial statement analysis, cash flow modeling, covenant review, capital structure assessment, and qualitative analysis to form independent and successful investment recommendations.
- Demonstrated ability to evaluate complex investment grade, emerging market, and high yield credit instruments.
- An understanding of fixed income markets and fixed income portfolio management.
- Ability to communicate verbally and in written form complex information and investment views.
- Ability to collaborate skillfully, including having the ability to work closely with the SIO and ASIO.
- Demonstrated proficiency using Bloomberg, Excel, Word, and Artificial Intelligence tools to support analysis and recommendations.
- A proven track record of managing competing priorities and meeting deadlines in a fast-paced environment.
- Deep expertise in the finance sector, including knowledge of industry drivers, regulatory considerations, and company-specific risk factors.
- Experience evaluating investment grade, emerging market, and high yield credit instruments across market cycles.
- Demonstrated ability to independently generate high-quality investment recommendations supported by rigorous analysis.
- A CFA charter or relevant graduate degree.
- A proven track record of producing clear and concise reports, and actionable investment recommendations that contribute to the portfolios’ total returns.
If your experience or qualifications look different from what we have identified and you think you can be successful in this position, please address this in your cover letter.
In Addition To a Complete Profile, Please Include
- A cover letter specifying why this position is of interest to you and how you meet the qualifications listed above. This letter should be no more than two pages.
- A current chronological resume.
Prior to a new hire, a background check including reference checks, education verification, credit check, and criminal record history will be conducted. Information from the background check will not necessarily preclude employment but will be considered in determining applicant’s suitability and competence to perform in the position.
At the WSIB you’ll experience true work-life balance and talented, passionate co-workers focused on maximizing the investment returns for the exclusive benefit of the beneficiaries. The WSIB is a respected institutional investor and thought leader in its industry and we value diverse perspectives and life experiences. WSIB is open to candidates who may require employment-based visa sponsorship. Sponsorship decisions are made based on position requirements, business needs, candidate qualifications, and applicable immigration regulations.
The WSIB is an equal opportunity employer. Women, people of color and those representing diverse ethnicities, persons of disability, persons over 40 years of age, veterans, military spouses or people with military status, and people of all sexual orientations and gender identities are encouraged to apply.
Medical, Dental, and Vision for employee & dependents; Public Employees Retirement System (PERS); Vacation, Sick, and other Leave; 11 Paid Holidays and 1 Personal Holiday per year; Public Service Loan Forgiveness; Long Term Disability; Life Insurance; Deferred Compensation Programs; Dependent Care Assistance Program (DCAP); Flexible Spending Arrangement (FSA); Employee Assistance Program; Commute Trip Reduction Incentives; professional development opportunities; flexible work schedules; and participation in the Combined Fund Drive; and SmartHealth.
An overview of benefits of state employment and WSIB specifically can also be found on our website. WSIB’s benefits highlight our commitment to employee growth, including tuition assistance and opportunities to pursue professional certifications.
The WSIB is committed to the full inclusion of all qualified individuals. As part of this commitment, the WSIB will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact HR@sib.wa.gov.
Employee benefits are not just about the kind of services you get, they are also about how much you may have to pay out of pocket. Washington State offers one of the most competitive benefits packages in the nation.
We understand that your life revolves around more than just your career. Like everyone, your first priority is ensuring that you and your family will maintain health and financial security. That's why choice is a key component of our benefits package. We have a selection of health and retirement plans, paid leave, staff training and other compensation benefits that you can mix and match to meet your current and future needs.
The following information describes typical benefits available for full-time employees who are expected to work more than six months. Actual benefits may vary by appointment type or be prorated for other than full-time work (e.g. part-time); view the job posting for benefits details for job types other than full-time.
Note: If the position offers benefits which differ from the following, the job posting should include the specific benefits.
Employees and their families are covered by medical (including vision), dental and basic life insurance. There are multiple medical plans with affordable monthly premiums that offer coverage throughout the state.
Staff are eligible to enroll each year in a medical flexible spending account which enables them to use tax-deferred dollars toward their health care expenses. Employees are also covered by basic life and long-term disability insurance, with the option to purchase additional coverage amounts.
To view premium rates, coverage choice in your area and how to enroll, please visit the Public Employees Benefits Board (PEBB) website. The Washington Wellness program from the Health Care Authority works with PEBB to support our workplace wellness programs.
Dependent care assistance allows the employee to save pre-tax dollars for a child or elder care expenses.
Other insurance coverage for auto, boat, home, and renter insurance is available through payroll deduction.
The Washington State Employee Assistance Program promotes the health and well-being of employees.
State Employees are members of the Washington Public Employees' Retirement System (PERS). New employees have the option of two employer contributed retirement programs. For additional information, check out the Department of Retirement Systems' web site.
Employees also have the ability to participate in the Deferred Compensation Program (DCP). This is a supplemental retirement savings program (similar to an IRA) that allows you control over the amount of pre-tax salary dollars you defer as well as the flexibility to choose between multiple investment options.
All state employees are covered by the federal Social Security and Medicare systems. The state and the employee pay an equal amount into the system.
If you are employed by a government or not-for-profit organization, and meet the qualifying criteria, you may be eligible to receive student loan forgiveness under the Public Service Loan Forgiveness Program.
Full-time and part-time employees are entitled to paid holidays and one paid personal holiday per calendar year.
Note: Employees who are members of certain Unions may be entitled to additional personal leave day(s), please refer to position specific Collective Bargaining Agreements for more information.
Full-time employees who work full monthly schedules qualify for holiday compensation if they are employed before the holiday and are in pay status for at least 80 nonovertime hours during the month of the holiday; or for the entire work shift preceding the holiday.
Part-time employees who are in pay status during the month of the holiday qualify for the holiday on a pro-rata basis. Compensation for holidays (including personal holiday) will be proportionate to the number of hours in pay status in the month to that required for full-time employment, excluding all holiday hours. Pay status includes hours worked and time on paid leave.
Full-time employees earn eight hours of sick leave per month. Overtime eligible employees who are in pay status for less than 80 hours per month, earn a monthly proportionate to the number of hours in pay status, in the month to that required for full-time employment. Overtime exempt employees who are in pay status for less than 80 hours per month do not earn a monthly accrual of sick leave.
Sick leave accruals for part-time employees will be proportionate to the number of hours in pay status, in the month to that required for full-time employment. Pay status includes hours worked, time on paid leave and paid holiday.
Full-time employees accrue vacation leave at the rates specified in WAC 357-31-165(1) or the applicable collective bargaining agreement (CBA). Full-time employees who are in pay status for less than 80 nonovertime hours in a month do not earn a monthly accrual of vacation leave.
Part-time employees accrue vacation leave hours in accordance with WAC 357-31-165(1) or the applicable collective bargaining agreement (CBA) on a pro rata basis. Vacation leave accrual will be proportionate to the number of hours in pay status, in the month to that required for full-time employment.
Pay status includes hours worked, time on paid leave and paid holiday.
As provided in WAC 357-58-175, an employer may authorize a lump-sum accrual of vacation leave or accelerate the vacation leave accrual rate to support the recruitment and/or retention of a candidate or employee for a Washington Management Service position. Vacation leave accrual rates may only be accelerated using the rates established WAC 357-31-165.
Note: Most agencies follow the civil service rules covering leave and holidays for exempt employees even though there is no requirement for them to do so. However, agencies are required to adhere to the applicable RCWs pertaining holidays and leave.
Washington State supports members of the armed forces with 21 days paid military leave per year.
Most employees whose family member or household member dies, or for loss of pregnancy, are entitled to five (5) days of paid bereavement leave. In addition, the employer may approve other available leave types for the purpose of bereavement leave.
Leave Sharing
Parental Leave
Family and Medical Leave Act (FMLA)
Leave Without Pay
Please visit the State HR Website for more detailed information regarding benefits.
Updated 01-07-2026
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