Portfolio Manager - Agency MBS

Legal & General Investment Management America; Chicago (IL); On-site; USD 120,000 - 170,000; Full time

Job summary

An established industry player is seeking a Portfolio Manager to support Senior Portfolio Managers in investing client portfolios. This role involves monitoring portfolio positions, executing trade orders, and ensuring compliance with client guidelines. The ideal candidate will have 6-8 years of experience, strong skills in Bloomberg and Excel, and a solid understanding of Fixed Income and mortgage-backed securities. The company offers a competitive salary and a comprehensive benefits package, including health insurance, 401K, and additional voluntary programs. If you thrive in a fast-paced environment and are passionate about investment management, this opportunity is perfect for you.

Benefits

Health insurance

401K

Vacation

Sick time

Employee assistance program

Commuter and transit programs

Dental insurance

Vision care

Life insurance

Supplemental health benefits

Qualifications

• 6-8 years of relevant experience in portfolio management.
• Strong proficiency in Bloomberg and Excel is essential.

Responsibilities

• Monitor portfolio positions and execute trade orders as directed.
• Collaborate with Senior Portfolio Managers on portfolio construction.

Skills

Bloomberg

Excel

Fixed Income basics

MBS analytics systems

Mortgage valuations

Mortgage prepayments

Mortgage risk measures

Portfolio management for agency MBS products

Multi-tasking under pressure

Education

Bachelor's degree in Finance or related field

Tools

Yield Book

Marketaccess

Tradeweb

1010data

CPR&CDR Technologies

RiskSpan

Job description

Overview

The Portfolio Manager works as part of a team supporting Senior Portfolio Managers to invest client portfolios consistent with LGIMA’s investment strategy views.

Responsibilities

1. Monitor portfolio position weights and risk analytics compared to benchmarks and targets.
2. Construct trade orders to be executed.
3. Execute trade orders as directed by Senior Portfolio Managers.
4. Monitor portfolio positions and trade orders for compliance with client guidelines.
5. Generate purchase or sell orders to meet client contributions or withdrawals.
6. Manage portfolio cash balances and ensure cash balances are consistent with product guidelines and current investment strategy.
7. Review and resolve any potential post trade compliance breaches.
8. Liaise with other departments internally, including Legal/Compliance, Sales/Marketing, and Investment Operations.
9. Understand investment decisions derived from Credit strategy meetings with respect to implementation activities.
10. Prepare for client onboarding by preparing buy lists based on target portfolios.
11. Work closely with Senior Portfolio Managers on portfolio construction and monitoring.
12. Collaborate with Senior Portfolio Managers on creating marketing presentations and reports for clients.

Qualifications

1. 6-8 Years of relevant experience.
2. Strong Bloomberg and Excel skills required.
3. Developed understanding of Fixed Income basics (e.g. duration, convexity, etc.).
4. Experience working with MBS analytics systems including Yield Book.
5. Basic understanding of the drivers of mortgage valuations and relative value.
6. General understanding of mortgage prepayments and their key drivers.
7. Basic understanding of mortgage risk measures and their applications.
8. Experience trading and/or working on portfolio management for agency MBS products.
9. Preferred experience working with an in-house mortgage database or third party mortgage data tools such as 1010data, CPR&CDR Technologies or RiskSpan.
10. Preferred experience using trade platforms such as Marketaccess & Tradeweb.
11. Preferred understanding of securitized credit products such as Asset-backed securities, Commercial Mortgage Backed Securities, Non-Agency Residential Mortgage Backed Securities, and Collateralized Loan Obligations.
12. Ability to work accurately under pressure and time constraints and to multi-task well.

Salary Range

$120,000 - $170,000

The starting salary offer will vary based on multiple factors, including but not limited to the applicant’s education, job-related experience, skills, and abilities, geographic location, and market factors. This position is also eligible to participate in the company’s annual discretionary bonus plan. Full-time employees may be eligible for health insurance with an optional HSA, short term disability, long term disability, dental insurance, vision care, life insurance, Healthcare, Dependent and Limited Care Flexible Spending Accounts, 401K, vacation, sick time, an employee assistance program, and commuter and transit programs. Additional voluntary programs include supplemental health benefits including accidental injury, critical illness and hospital indemnity insurance and pet insurance.

EOE Statement

As an EOE employer, Legal & General Investment Management America will extend equal opportunity to all employees and applicants for employment without regard to race, color, religion, gender, sexual orientation, gender identity, ancestry, national origin, age, disability, medical condition, genetic information, marital status, pregnancy, military status, and/or any other characteristic protected under applicable federal, state or local laws governing nondiscrimination in employment. (2024)