Portfolio Construction Analyst (Fixed Income & Portfolio Risk Analysis)

Franklin Templeton; Philadelphia (Philadelphia County); Hybrid; USD 120,000 - 160,000; Full time

Benefits offered by this job

Paid Time Off

Health Coverage

401(k) with company match

Employee Stock Investment Plan (ESIP)

Learning Education Assistance Program

Job summary

Franklin Templeton in Philadelphia, PA, is seeking a highly analytical Portfolio Construction Analyst to advance fixed income portfolio construction and research. You will partner with portfolio management, implementation, performance, and client service teams to strengthen the investment process.

The ideal candidate blends quantitative skills with market curiosity and experience in risk measurement, optimization, and communicating insights.

Qualifications

• Must have strong quantitative skills and interest in fixed income markets.
• Experience with portfolio construction, risk management and derivatives is preferred.
• Excellent programming and data analysis abilities.

Responsibilities

• Develop and enhance portfolio construction and risk management frameworks.
• Analyze market regimes and volatility forecasting to inform allocations.
• Design optimization tools to express investment views and improve performance.
• Collaborate with portfolio management, implementation, performance and client service teams.

Skills

Python

R

MATLAB

SQL

Quantitative analysis

AI/ML tools

Education

Bachelor's degree in Finance, Economics, Mathematics, Statistics, Engineering, Computer Science

CFA preferred

Tools

AI/ML tools

Portfolio analytics software

Job description

How You Will Add Value

At Franklin Templeton, we believe success is built through powerful partnerships. As a forward thinking asset manager, we build dynamic relationships with clients, understand their goals, and navigate complex markets together. We leverage cutting edge strategies and deep insights to unlock opportunities for long term wealth creation. Our talented, global teams bring expertise that is both broad and unique.

From our welcoming, inclusive, and supportive culture to our globally diverse business, we offer opportunities not only to help you reach your potential, but also to contribute to our clients’ success.

About Our Team

FTFI Brandywine Fixed Income is a Philadelphia-based fixed income investment team managing $42 billion in assets across US and global fixed income portfolios in both long only and long-short strategies.

About The Role

We are seeking a highly analytical and intellectually curious Portfolio Construction Analyst to advance our fixed income portfolio construction and research capabilities. This role will partner closely with portfolio management, portfolio implementation, performance/risk, and client service teams to enhance the existing portfolio construction framework aligned with our investment philosophy and style.

The ideal candidate combines strong quantitative skills with a deep interest in markets, portfolio construction, and behavioral aspects of investing. This individual will play a key role in enhancing how we measure risk, optimize portfolios, evaluate market regimes, and communicate investment insights internally and externally.

Portfolio Construction & Risk Framework

• Develop and enhance portfolio construction and risk management frameworks consistent with the fixed income team’s investment philosophy.


• Develop and maintain market and macroeconomic risk factor frameworks used to assess portfolio exposures.


• Analyze position risk on both standalone and portfolio-context settings.

Volatility Research & Portfolio Optimization

• Conduct ongoing research on volatility forecasting and correlation dynamics.


• Develop optimization tools to better express portfolio managers’ key market views.


• Identify and analyze market and risk regimes, including periods where strategies historically outperform or underperform.


• Evaluate how different risk measures behave across varying market environments.


• Research and improve downside risk management approaches, including position sizing and loss mitigation frameworks.

Risk Research & Investment Insights

• Investigate key portfolio construction questions, including:


• Which risk measures matter most in different environments?


• When are tracking error metrics informative or unstable?


• How should historical versus forward-looking risk measures be balanced?


• What implicit assumptions in the investment process should be challenged?


• Develop research-driven insights that improve decision-making and portfolio resilience.

Portfolio Customization

• Build scalable frameworks to implement flagship investment ideas within more constrained or customized client portfolios.


• Partner with client service and implementation teams to improve portfolio guidelines and support client-specific solutions through rigorous analysis.

Options & Cross-Asset Research

• Analyze what options markets are implying across asset classes and macro environments.


• Identify derivative strategies to better express investment views and manage risk.

Trade Review & Performance Attribution

• Track and evaluate entry and exit points of key trades to assess performance and risk outcomes.


• Reconcile portfolio results with third-party performance attribution systems.


• Develop reporting and analytical materials for investment team and firm-wide presentations.

Leadership & Collaboration

• Lead periodic portfolio and risk reviews for the investment team.


• Present risk research and market insights during investment meetings.


• Coordinate cross-functionally with portfolio implementation, performance, and client service teams.


• Contribute to investment reporting materials and strategic discussions.

Innovation & Technology

• Evaluate and implement AI-driven tools and techniques to enhance the investment research and risk analysis framework.


• Identify opportunities to improve efficiency, scalability, and analytical depth through technology.

What Will Help You Be Successful In This Role

Experience, Education & Certifications

• Requires 3–7 years of experience in fixed income, portfolio construction, risk management, quantitative research, multi-asset investing, and derivatives (options).


• Bachelor’s degree in Finance, Economics, Mathematics, Statistics, Engineering, Computer Science, or related quantitative field; advanced degree and/or CFA preferred.


• Strong understanding of portfolio theory, risk modeling, factor analysis, volatility, and optimization techniques.


• Experience working with portfolio analytics, attribution, and risk systems.


• Familiarity with options markets and derivatives analytics preferred.


• Strong programming and data analysis skills (Python, R, MATLAB, SQL, or similar).


• Experience with AI or machine learning tools applied to investment research is a plus.


• Excellent communication skills with the ability to present complex ideas clearly to investment and non-investment audiences.


• Demonstrated intellectual curiosity, independent thinking, and a research-oriented mindset.

Work Schedule & Location

• Hybrid work schedule


• Work Location: Philadelphia, PA

Compensation Range: Franklin Templeton offers employees a competitive and valuable range of total rewards—monetary and non-monetary — designed to support their well-being and recognize their time, talents, and results. Along with base compensation, employees are eligible for an annual discretionary bonus, a 401(k) plan with a generous match, and recognition rewards. We also offer a comprehensive benefits package, which includes a range of competitive healthcare options, insurance, and disability benefits, employee stock investment program, learning resources, career development programs, reimbursement for certain education expenses, paid time off (vacation / holidays / sick / leave / parental & caregiving leave / bereavement / volunteering / floating holidays) and a motivational well-being program. We expect the annual salary for this position to range between $120,000 to $160,000, plus an annual discretionary bonus, depending on location and level of relevant experience.

Highlights Of Our Benefits Include

• Paid Time Off: Three weeks of PTO in your first year


• Health Coverage: Competitive medical, dental, and vision insurance to support your well-being


• Retirement Savings: 401(k) plan with an 85% company match on pre-tax and/or Roth contributions, up to IRS limits


• Equity & Investing: Employee Stock Investment Plan (ESIP) with discounted share purchase opportunities


• Learning Education Assistance Program (LEAP): To support your ongoing growth and career advancement


• Employee Investment Benefits: Opportunity to purchase company funds with no sales charge

Franklin Templeton is an Equal Opportunity Employer. We are committed to providing equal employment opportunities to all applicants and employees, and we evaluate qualified applicants without regard to ancestry, age, color, disability, genetic information, gender, gender identity, or gender expression, marital status, medical condition, military or veteran status, national origin, race, religion, sex, sexual orientation, and any other basis protected by federal, state, or local law, ordinance, or regulation.