Portfolio Manager - Agency MBS

MxD; Chicago (IL); On-site; USD 120,000 - 170,000; Full time

Job summary

A leading investment management firm in Chicago seeks a Portfolio Manager to support Senior Portfolio Managers in client portfolio investments. The role includes monitoring positions, executing trades, and ensuring compliance, requiring strong experience in finance and excellent skills in Bloomberg and Excel. Full-time employees are offered a comprehensive benefits package including health insurance, retirement plans, and vacation.

Benefits

Health insurance with HSA

401K

Vacation and sick time

Employee assistance program

Qualifications

• 6-8 years of relevant experience in portfolio management.
• Strong skills in Bloomberg and Excel are required.
• Experience with trading agency MBS products preferred.

Responsibilities

• Monitor portfolio positions and execute trade orders.
• Generate purchase or sell orders based on client activity.
• Collaborate with Senior Portfolio Managers on portfolio construction.

Skills

Bloomberg

Excel

Fixed Income basics

MBS analytics systems

Mortgage risk measures

Portfolio management

Tools

Yield Book

Trade platforms

Job description

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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

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

Qualifications

• 6-8 Years of relevant experience
• Strong Bloomberg and Excel skills required
• Developed understanding of Fixed Income basics (e.g. duration, convexity, etc.)
• Experience working with MBS analytics systems including Yield Book
• Basic understanding of the drivers of mortgage valuations and relative value
• General understanding of mortgage prepayments and their key drivers
• Basic understanding of mortgage risk measures and their applications
• Experience trading and/or working on portfolio management for agency MBS products
• Preferred experience working with an in-house mortgage database or third party mortgage data tools such as 1010data, CPR&CDR Technologies or RiskSpan
• Preferred experience using trade platforms such as Marketaccess & Tradeweb
• 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
• 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)

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