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FIXED INCOME PORTFOLIO MANAGER

  • 503517
  • PHOENIX
  • ARIZONA STATE RETIREMENT SYSTEM (ASRS)
  • Full-time
  • Closing at: Feb 11 2022 at 23:55 MST

For more than a half-century, the Arizona State Retirement System (ASRS) has provided retirement, health insurance and long term disability benefits to employees of the state, counties, municipalities, universities, community colleges, school districts and other political entities. We are a top performing benefit plan administrator with a solid reputation and sustainable plan design. Our organizational culture is based on the following principles; Professionalism, Results, Improvement, Diversity and Excellence. We believe in delivering service with PRIDE.

The ASRS Investment Division is led by Michael Viteri, Chief Investment Officer, and manages the daily investment of approximately $50 billion in assets held in a diversified investment portfolio of cash, fixed income, domestic and international equities, real estate, private equity and private credit. The ASRS Investment Division, currently comprised of 10 individuals, is responsible for managing the investments of the ASRS pension plan, Long Term Disability plan, and Health Benefits plan. Codified through the ASRS Investment Beliefs, the ASRS Investment Division oversees the actual investments, which are managed by a select group of investment managers, as well as providing internal portfolio management capabilities for select asset class mandates.

Check out our webpage, Azasrs.gov, to learn more about the ASRS.

FIXED INCOME PORTFOLIO MANAGER

Job Location:

Address:  3300 N. Central Ave., Phoenix, AZ 85012

Posting Details:

Compensation:  DOE up to $137,000 annually, incentive pay up to 25% of salary, and excellent benefits.

Closing Date: Friday, February 11, 2022

Job Summary:

The Arizona State Retirement System (ASRS) is seeking a Portfolio Manager to play a crucial role on the Fixed Income (Interest Rate Sensitive) Team. The Portfolio Manager will support the Deputy CIO in managing and trading the Interest Rate Sensitive portfolio and over time provide assistance with the management and oversight of the Credit Portfolio which includes investments in Private Credit, Distressed Debt and other credit investments. The portfolio manager will focus on legal contract oversight, performance measurement calculations, quarterly conference calls, and at the discretion of the Deputy CIO participate in on sight diligence meetings including Private Credit annual limited partner meetings.

Essential activities:
  • Primary oversight of the Interest Rate Sensitive asset class including portfolio management and trading responsibility for the approximately $2 billion internal investment grade fixed income portfolio; conducting investment research on various sectors of the investment grade market to determine the appropriate positioning relative to the assigned benchmark and executing open market trades with approved broker/dealers to optimally position the portfolio.
  • Assistance with the management and oversight of the Credit asset class including primary due diligence and monitoring roles for select Credit partnerships. The Fixed Income Manager also assists in the identification of new investment ideas in Credit and conducts due diligence on potential externally managed opportunities across private debt, distressed debt, structured credit and other opportunistic strategies; including a comprehensive review of the investment and operational process, negotiating fund level economics, working with external legal counsel to review all fund terms and presenting attractive opportunities to the internal asset class committee.
  • Management of the ASRS securities lending program including daily monitoring the program is in compliance with the securities lending authorization agreement, periodic reporting on the status of the program, and primary responsibility for negotiating legal terms and portfolio guidelines within legal contracts.
  • The ideal candidate will have:

    Academic

    • Relevant Bachelor’s or Master’s degree

    Certification

    • CFA and/or FRM, or other appropriate professional investment designation or progress towards designation

    Experience

    • 7+ years of experience related to capital or private markets and institutional portfolio management

    Other Skills

    • Experience trading on platforms such as TradeWeb, Market Axess, Bloomberg, or other EMS
    • Experience with portfolio management software such as Bloomberg EMSX, Charles River, Blackrock Aladdin, or other similar portfolio management platforms.
    • Experience using Risk Management Platforms such as MSCI Barraone, BlackRock Aladdin, Axioma, etc.
    • Preference for experience in leveraged finance markets
    • Highly organized with exceptional attention to detail
    • Ability to work both independently and with a team
    • Creativity and problem solving skills
    • Excellent Microsoft Office skills
    • Excellent verbal and written communication skills
    Benefits:

    The State of Arizona offers a comprehensive benefits package that includes:

    • Competitive salary and incentive compensation program (up to 25% of base salary)
    • Tuition/Professional Certification monetary assistance
    • Robust and affordable insurance plans (medical, dental, life, short-term and long-term disability options)
    • A top-ranked retirement program
    • 10 paid holidays per year
    • Accrued vacation (21 days/year) and sick days (12 days/year)
    • An incentivized commuter club and public transportation subsidy program
    • The opportunity to participate in deferred compensation, credit union membership, and a wellness program
    • Rewarding work that benefits the people of Arizona
    • Public Service Loan Forgiveness eligible employer
    • Free Covered Parking

    The Arizona State Retirement System is located in midtown Phoenix, within walking distance of the Light Rail. We offer a stable work environment and an atmosphere that fosters a healthy work-life balance.

    For a complete list of benefits provided by The State of Arizona, please visit our benefits page

    Retirement:

    Positions in this classification participate in the Arizona State Retirement System (ASRS).

    Contact Us:

    Persons with a disability may request a reasonable accommodation such as a sign language interpreter or an alternative format by contacting 602.677.2902.

    * Arizona State Government is an EOE/ADA Reasonable Accommodation Employer.
    * All newly hired employees are subject to the E-Verify Employment Eligibility Verification Program.
    * Candidates selected for hire will be subject to a background investigation to include credit and criminal history.

    ARIZONA MANAGEMENT SYSTEM (AMS)

    All Arizona state employees operate within the Arizona Management System (AMS), an intentional, results-driven approach for doing the work of state government whereby every employee reflects on performance, reduces waste, and commits to continuous improvement with sustainable progress.  Through AMS, every state employee seeks to understand customer needs, identify problems, improve processes, and measure results.  
    State employees are highly engaged, collaborative and embrace a culture of public service.

    The State of Arizona is an Equal Employment Opportunity Employer.