Municipal Bond Portfolio Manager

Northern Trust Corp; Chicago (IL); On-site; USD 137,000 - 234,000; Full time

Job summary

Northern Trust is seeking a Municipal Bond Portfolio Manager in Chicago to lead fiduciary and institutional accounts. You will apply municipal market expertise, construct portfolios, monitor risk, and optimize investment analytics and workflows to serve client objectives.

Responsibilities include client communications, performance reporting, and staying current on municipal markets and regulatory considerations. A deep track record in municipal fixed income and portfolio management is essential.

Qualifications

• At least 10 years of investment-management and financial markets experience.
• Minimum 5 years in portfolio management and trading, municipal fixed-income.
• Knowledge of fiduciary responsibilities and regulatory requirements.

Responsibilities

• Manage municipal bond portfolios for fiduciary and agency accounts.
• Construct portfolios via security selection, sector allocation, duration, and yield curve positioning.
• Develop client objectives and guidelines reflecting tax considerations and income needs.
• Monitor risk and performance against benchmarks and guidelines.
• Use portfolio-management systems and analytics to evaluate holdings and support trading decisions.
• Prepare portfolio analyses and communicate results to clients.

Skills

Municipal fixed-income

Portfolio management

Trading

Financial analysis

Risk management

Client communication

Tools

Aladdin

Job description

Municipal Bond Portfolio ManagerPlease view Northern Trust's cookie policy here.# NT Careers## Municipal Bond Portfolio ManagerApply: Chicago, IL: Full time: Posted Today: R163023**About Northern Trust** As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families, corporations and institutions. Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide. With more than 135 years of financial experience and over 24,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service. **Job Description Summary:** Manage municipal bond portfolios for individual and institutional clients and funds, aligning investment decisions with client objectives, risk tolerance, tax considerations, and income needs. Apply municipal market expertise, disciplined portfolio construction, and strong technology skills to implement investment strategies, monitor risk and performance, and improve portfolio-management workflows. Communicate portfolio positioning and results clearly to clients and contribute to the ongoing development of investment analytics and processes.**Major Duties:*** **Municipal portfolio management:** Manage municipal bond portfolios for fiduciary and agency accounts, high-net-worth individuals, pension accounts, and common funds in pursuit of client objectives and benchmark-relative performance, within established risk parameters and investment guidelines.* **Portfolio construction and trading:** Implement investment strategy through municipal security selection, sector allocation, duration and yield-curve positioning, and specific trades. Incorporate credit quality, diversification, liquidity, maturities, calls, and reinvestment needs into portfolio decisions.* **Client objectives and guidelines:** Work with clients to develop investment objectives and guidelines that reflect risk tolerance, tax considerations, and income needs. Align portfolio structure with those objectives, current investment policy, economic factors, and municipal market conditions.* **Risk and performance oversight:** Evaluate appropriate performance benchmarks in accordance with established investment policy. Monitor portfolio returns, exposures, and positioning against the applicable benchmark and client guidelines; assess whether strategy remains appropriate as markets and client needs change.* **Technology and process improvement:** Use portfolio-management systems and analytical tools to evaluate holdings, support trading decisions, monitor risk, and produce reports. Identify opportunities to improve data quality, streamline recurring workflows, and strengthen investment analysis.* **Client analysis and communication:** Prepare portfolio analyses for existing and prospective clients. Lead periodic discussions of performance, positioning, strategy, and reporting, and respond to client inquiries.* **Market knowledge:** Maintain current knowledge of municipal markets and fixed-income developments through economic research, market contacts, and continuing education. **Qualifications:*** A minimum of ten years of investment-management and financial-markets experience, including at least five years portfolio management and trading.* Minimum of five years municipal fixed-income experience, including hands-on portfolio management and trading, with demonstrated knowledge of municipal market structure, credit considerations, and portfolio risk.* Knowledge of portfolio-management theory, statistics, and quantitative methods in finance, with the ability to apply these disciplines to portfolio construction, risk assessment, and performance analysis.* Strong proficiency with portfolio-management systems and investment analytics, including the ability to interpret data, evaluate holdings and exposures, support trading decisions, and generate clear reports.* Knowledge of fiduciary responsibilities and the legal and regulatory requirements governing investment decisions, with the ability to apply applicable laws, codes, regulations, and investment guidelines.Ability to explain portfolio decisions, investment risks, and performance clearly to clients and other stakeholders. **Preferred Qualifications:*** Experience improving investment workflows through automation, analytical-tool development, or more effective use of portfolio data and technology.* Strong knowledge of Perform and/or experience using Aladdin.Salary Range:$137,400 - 233,600 USD*Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.* **Work Authorization** Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa). **Working with Us** As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to an inclusive workplace and assisting the communities we serve. Philanthropy is deeply rooted in Northern Trust’s history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities. **Reasonable Accommodation** Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at [e-mail], or alternatively you can discuss your individual requirements with the recruiter you are working with.