Review Vacancy
AgencyTeachers' Retirement System
TitleAssistant Manager of Fixed Income
Occupational CategoryOther Professional Careers
Bargaining UnitM/C - Management / Confidential (Unrepresented)
Salary RangeFrom $0 to $0 Annually
Minimum Qualifications Bachelor’s degree in finance, accounting, business administration, economics, mathematics, statistics or engineering or a Bachelor’s degree in any discipline combined with a Master’s in Business Administration, Master’s in Finance or Master’s in Accounting, and;
7 years involved in the management, analysis and implementation of fixed income portfolios, with a significant portion of that experience in corporate credit, with a minimum of 5 years’ experience must have been gained managing and/or monitoring fixed income portfolios in excess of $2.5 billion, and;
Two years of supervisory experience with a proven ability to successfully work in a collaborative environment.
Duties Description The responsibilities and job functions for the Assistant Manager of Fixed Income include, but are not limited to, the following:
Key Responsibilities:
- Perform fixed income portfolio management, analysis (e.g. idiosyncratic credit; security, industry and sub-sector relative value), trade execution and monitoring across all internally managed fixed income sub-sectors with a primary focus on corporate credit.
- Supervise and provide direction to staff in the management of internal portfolios (short term and long-term fixed income portfolios), participate in staff monitoring of external portfolios (e.g. global bonds and securities lending) and other duties as they arise.
- Help recruit, oversee, develop and mentor Fixed Income professional staff.
Participate in the overall management of the Fixed Income Department staff and review staff’s work in the performance of fixed income related projects while consistently providing feedback and guidance.
- Manage the preparation and review of periodic fixed income reports for use by Fixed Income staff, NYSTRS Board, Investment Advisory Committee (IAC) and/or NYSTRS management and present to NYSTRS Board; Internal Investment Committee (IIC); IAC and staff as needed.
- When required, participate as the Fixed Income Dept. representative in NYSTRS’ IIC meetings, NYSTRS’ Board Meetings; NYSTRS’ IAC and NYSTRS’ Real Estate Advisory Committee (REAC) meetings.
- Partake in NYSTRS’ asset allocation process, planning as it relates to the implementation of the fixed income portion of the asset allocation plan, identifying areas of relative value across fixed income sub-asset classes that are within Fixed Income’s investment universe and mandate, assemble a plan to execute said strategy and oversee implementation of the plan.
- Participate and collaborate with Fixed Income management and staff to conduct due diligence on external fixed income money managers for existing and/or new investment mandates in various fixed income sub-asset classes such as global bonds, high yield, and bank loans.
- When required, engage with Fixed Income management and staff in the implementation and oversight of external managers: including analyzing asset classes and specific securities, evaluating money manager capabilities and performance; and overseeing portfolios
- Coordinate or manage as necessary, Fixed Income in the review and preparation of fixed income related investment policy manuals, consolidated annual report financial reporting information, periodic information disseminated to the NYSTRS Board and any requests made by external Fixed Income Dept. parties, including the NYSTRS’ Executive Director / CIO.
- Participate and/or oversee administrative duties as well as new and existing initiatives including identification and evaluation of platforms and/or technology (e.g. corporate bond trading platforms), the annual budgeting process, the Fixed Income transition as it pertains to the System’s investment infrastructure project and oversee relationship building with fixed income counterparts as well as review and approve new fixed income counterparts.
- Represent Fixed Income in the participation of cross-departmental projects and initiatives as well as membership in NYSTRS’ currently ongoing and/or forthcoming special topic investment and/or regulatory committees.
Job Functions:
- Participate in the planning, implementation, risk oversight and direct management of the System’s domestic fixed income portfolio(s). [E] 40 to 75%.
- Oversee the System’s Fixed Income staff, providing professional development guidance and performance feedback as well as overseeing research, reviewing specific investments, trades (e.g. FX) and activities of Fixed Income staff. [E] 10 to 15%
- Participate in the due diligence process, selection and monitoring of external fixed income money managers including agent securities lenders. [E] 5% to 10%
- When required, participate in NYSTRS’ IIC, Board Meetings, IAC and REAC meetings; interact with and assist other NYSTRS’ departments when needed and upon request perform other investment related projects or research. [E] 0 to 10%
- Together with other Fixed Income management staff, periodically assess the long-term needs of the fixed income area to ensure that Fixed Income can fulfill its responsibilities pursuant to the Asset Allocation and Investment Policy Manual. This includes all resource planning and decisions, including personnel considerations as well as hardware and electronic equipment solutions, i.e., electronic trading, use of derivatives, investment in new asset classes, etc. [E] 10 to 15%
- Oversee the evaluation and selection of electronic fixed income trading platforms, bond analytical tools and risk management platforms. [E] 0 to 5%.
Additional Comments To view the posting in its entirety, please visit our applicant portal: https://nystrs.peopleadmin.com/
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