Investment Officer - Fixed Income

State of Washington State Investment Board; Olympia (WA); Hybrid; USD 120,000 - 180,000; Full time

Benefits offered by this job

Medical, Dental, Vision

PERS

Vacation, Sick Leave

11 Paid Holidays

Professional development opportunities

Flexible work schedules

Job summary

The Washington State Investment Board (WSIB) is seeking a qualified Investment Officer to join the Fixed Income team. The role emphasizes credit analysis and prudent management across investment grade, high yield, and emerging markets, with both independent and collaborative work styles.

The position is hybrid with 60% time in the Olympia office. A Bachelor’s degree and four years of fixed income experience are required; CFA or related master’s degree may substitute for up to two years.

Qualifications

• 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.
• 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.
• An understanding of fixed income markets and fixed income portfolio management.
• Ability to communicate verbally and in written form complex information and investment views.
• Demonstrated proficiency using Bloomberg, Excel, Word, and Artificial Intelligence tools to support analysis and recommendations.

Responsibilities

• Perform in-depth credit analysis and make buy, hold, or sell recommendations on companies in the finance sector 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 and communicate views to SIO and ASIO on a timely basis.
• Monitor, analyze, and evaluate company and industry developments, credit risks, and opportunities affecting the finance sector.
• 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.

Education

Bachelor’s degree in finance, economics, business, or a related field

Tools

Bloomberg

Excel

Word

Job description

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.

THE STRONGEST APPLICANT WILL HAVE:

• 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.

BACKGROUND CHECK:
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.

Employees may be eligible for the following benefits:

• 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 ProgramCommute Trip Reduction Incentives
• professional development opportunities
• flexible work schedules
• 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 [e-mail].