Associate Portfolio Manager, Fixed Income
State Teachers' Retirement System
JC-470136 - Associate Portfolio Manager, Fixed Income
ASSOCIATE PORTFOLIO MANAGER
$11,667.00 - $17,500.00 per Month
Final Filing Date: 3/26/2025
Application Methods:
Electronic (Using your CalCareer Account)
Job Description and Duties
This position is eligible for incentive compensation and has a maximum incentive opportunity of 50% of base salary.
The CalSTRS Investments Branch is seeking an experienced individual to work as an Associate Portfolio Manager (APM) on the Fixed Income team.
The Fixed Income Unit is dedicated to maximizing risk-adjusted total return within a multi-asset class portfolio. They provide value through innovative/active asset allocation and bond selection by taking advantage of internally and externally managed strategies. The fixed income portfolio is managed using both enhanced and active strategies. In addition, several portfolios and programs including Treasury Inflation Protected Securities, RMS Long Duration Treasuries, Cash Management, Securities Lending and Currency Management reside within the Fixed Income unit.
Under the general direction of the Portfolio Manager, the APM provides independent analysis, consultation and securities trading experience in the development and implementation of various portfolio management, risk management, investment program strategy development and evaluation, processes and controls for the CalSTRS Structured Product Portfolios (Agency MBS, CMBS, Core Plus, Private Credit, etc). The incumbent will assist in the management of the Fixed Income Portfolio, recommend and participate in the implementation of asset allocation and various strategies consistent with policies and procedures, as well as assisting with training and development of Investment staff.
The ideal candidate will possess the following skills:
Knowledge of investment principles and trends across multi-asset classes, both public and private
Strong understanding of quantitative research process and methods to produce and interpret information
Strong understanding of statistics, prepayment speed analysis, credit analysis, and modeling of structured products
Knowledge of securitized products
Experience trading and analyzing mortgage-backed securities
Experience coding in R/R Studio or Python
Experience developing and implementing investment strategies
Experience with BlackRock's Aladdin System for fixed income portfolio management and trading
Excellent written and verbal communication skills
Strong quantitative and qualitative analytical skills
Strong leadership skills
Ability to work independently with little direction
Ability to innovate existing processes and create new tools
Ability to interact with various levels of internal and external professionals with tact and diplomacy
An incumbent who possesses a professional certification in one of the following designations: Chartered Financial Analyst (CFA), Certified Commercial Investment Member (CCIM), Financial Risk Manager (FRM), Certified Investment Management Analyst (CIMA) or Chartered Alternative Investment Analysts (CAIA) may receive a 5% monthly base pay differential. Only one 5% base pay differential is eligible regardless of the number of certifications.
Relocation benefits may be available.
Does this opportunity seem right for you? If so, see the Application Instructions section below and apply now.
You will find additional information about the job in the .
Working Conditions
CalSTRS offers a hybrid approach with staff working on-site at our Headquarters in West Sacramento 2-3 days per week.
All staff of CalSTRS are employees of the State of California and subject to California employment taxes and withholdings. Upon appointment, staff are required to provide a current California address to CalSTRS Human Resources to be used as a remote work location.
This position is not eligible for visa sponsorship. Applicants must be authorized to work in the US without the need for visa sponsorship by the start date of employment with CalSTRS.
Minimum Requirements
You will find the Minimum Requirements in the Class Specification.
ASSOCIATE PORTFOLIO MANAGER
Additional Documents
Job Application Package Checklist
Position Details
Job Code #: JC-470136
Position #(s):
...-022
Working Title: Associate Portfolio Manager, Fixed Income
Classification: ASSOCIATE PORTFOLIO MANAGER
$11,667.00 - $17,500.00
# of Positions: 1
Work Location: Yolo County
Telework: Hybrid
Job Type: Permanent, Full Time
Department Information
CalSTRS: Securing the financial future and sustaining the trust of California's educators
CalSTRS is the largest educator-only pension fund in the world, providing retirement, disability and survivor benefits to California's more than 1 million public school educators and their families. The Investments Branch manages a portfolio that is broadly diversified into seven asset categories with assets totaling approximately $352.9 billion as of January 31, 2025. In 2024, the CalSTRS Investments Branch was named one of the Best Places to Work in Money Management by the Pensions & Investments magazine for the tenth time since 2013.
CalSTRS is committed to setting best practice precedents, implementing innovative diversity and inclusion principles, motivating positive change, and advancing the worlds investment markets. We do this by establishing collaborative relationships across a vast network of investment managers, portfolio companies and industry associations in order to maximize returns and leverage opportunities for positive change.
Our two U.S. Green Building LEED Platinum-certified headquarters buildings in West Sacramento, California, feature sustainable construction, abundant natural lighting, an organic garden, sustainable beekeeping and ergonomic functionally designed workspaces. We offer a variety of on-site amenities to our team members, including two full-service cafes, two free fitness centers, a bicycle rental library and a child care center with a covered playground. Team members enjoy walks along the Sacramento River and nearby seasonal farmers markets.
In addition to our state-of-the-art amenities, we offer thriving wellness and sustainability programs, an award-winning employee recognition program, and ongoing training, learning and development opportunities. We offer competitive benefits, flexible work hours and hybrid work options. We are committed to creating a workplace where our team members thrive.
If you're looking for a rewarding career and are interested in becoming part of a diverse and inclusive workforce where talent, expertise and wellness are valued, we encourage you to find out more about our many career options at CalSTRS.com/about-CalSTRS.
Special Requirements
Exam
This position requires a current Associate Portfolio Manager, STRS examination. If you need to take the examination or if your score has expired, click here to gain list eligibility.
CalSTRS Personal Trading Program
Investment Branch employees are required to participate in the CalSTRS Personal Trading Program which allows CalSTRS to monitor employees' personal trading transactions in order to reduce risks associated with insider trading, front running, and misusing material non-public information. Upon accepting a position within the Investment Branch, you will be required to disclose your personal broker account information and be required to utilize a personal broker from a designated list as provided by CalSTRS.
Background Investigation
Prior to employment with CalSTRS, a background investigation (BI) will be conducted. The BI consists of a Personal History Statement and fingerprinting through the Department of Justice. The BI will check criminal and civil records and, if applicable, verify education and check driving records.
CalSTRS Disclosure Requirements
This position may be subject to disclosure and disqualification requirements concerning economic conflict of interest in government work, including the Conflict of Interest Code that applies to CalSTRS team members and the Political Reform Act, which require disclosure of certain investment information and use of a designated trading platform for securities transactions, as well as filing a Statement of Economic Interest (Form 700).
Application Instructions
Completed applications and all required documents must be received or postmarked by the Final Filing Date in order to be considered. Dates printed on Mobile Bar Codes, such as the Quick Response (QR) Codes available at the USPS, are not considered Postmark dates for the purpose of determining timely filing of an application.
Final Filing Date: 3/26/2025
State Teachers' Retirement System
JC-470136 - Associate Portfolio Manager, Fixed Income
ASSOCIATE PORTFOLIO MANAGER
$11,667.00 - $17,500.00 per Month
Final Filing Date: 3/26/2025
Application Methods:
Electronic (Using your CalCareer Account)
Job Description and Duties
This position is eligible for incentive compensation and has a maximum incentive opportunity of 50% of base salary.
The CalSTRS Investments Branch is seeking an experienced individual to work as an Associate Portfolio Manager (APM) on the Fixed Income team.
The Fixed Income Unit is dedicated to maximizing risk-adjusted total return within a multi-asset class portfolio. They provide value through innovative/active asset allocation and bond selection by taking advantage of internally and externally managed strategies. The fixed income portfolio is managed using both enhanced and active strategies. In addition, several portfolios and programs including Treasury Inflation Protected Securities, RMS Long Duration Treasuries, Cash Management, Securities Lending and Currency Management reside within the Fixed Income unit.
Under the general direction of the Portfolio Manager, the APM provides independent analysis, consultation and securities trading experience in the development and implementation of various portfolio management, risk management, investment program strategy development and evaluation, processes and controls for the CalSTRS Structured Product Portfolios (Agency MBS, CMBS, Core Plus, Private Credit, etc). The incumbent will assist in the management of the Fixed Income Portfolio, recommend and participate in the implementation of asset allocation and various strategies consistent with policies and procedures, as well as assisting with training and development of Investment staff.
The ideal candidate will possess the following skills:
Knowledge of investment principles and trends across multi-asset classes, both public and private
Strong understanding of quantitative research process and methods to produce and interpret information
Strong understanding of statistics, prepayment speed analysis, credit analysis, and modeling of structured products
Knowledge of securitized products
Experience trading and analyzing mortgage-backed securities
Experience coding in R/R Studio or Python
Experience developing and implementing investment strategies
Experience with BlackRock's Aladdin System for fixed income portfolio management and trading
Excellent written and verbal communication skills
Strong quantitative and qualitative analytical skills
Strong leadership skills
Ability to work independently with little direction
Ability to innovate existing processes and create new tools
Ability to interact with various levels of internal and external professionals with tact and diplomacy
An incumbent who possesses a professional certification in one of the following designations: Chartered Financial Analyst (CFA), Certified Commercial Investment Member (CCIM), Financial Risk Manager (FRM), Certified Investment Management Analyst (CIMA) or Chartered Alternative Investment Analysts (CAIA) may receive a 5% monthly base pay differential. Only one 5% base pay differential is eligible regardless of the number of certifications.
Relocation benefits may be available.
Does this opportunity seem right for you? If so, see the Application Instructions section below and apply now.
You will find additional information about the job in the .
Working Conditions
CalSTRS offers a hybrid approach with staff working on-site at our Headquarters in West Sacramento 2-3 days per week.
All staff of CalSTRS are employees of the State of California and subject to California employment taxes and withholdings. Upon appointment, staff are required to provide a current California address to CalSTRS Human Resources to be used as a remote work location.
This position is not eligible for visa sponsorship. Applicants must be authorized to work in the US without the need for visa sponsorship by the start date of employment with CalSTRS.
Minimum Requirements
You will find the Minimum Requirements in the Class Specification.
ASSOCIATE PORTFOLIO MANAGER
Additional Documents
Job Application Package Checklist
Position Details
Job Code #: JC-470136
Position #(s):
...-022
Working Title: Associate Portfolio Manager, Fixed Income
Classification: ASSOCIATE PORTFOLIO MANAGER
$11,667.00 - $17,500.00
# of Positions: 1
Work Location: Yolo County
Telework: Hybrid
Job Type: Permanent, Full Time
Department Information
CalSTRS: Securing the financial future and sustaining the trust of California's educators
CalSTRS is the largest educator-only pension fund in the world, providing retirement, disability and survivor benefits to California's more than 1 million public school educators and their families. The Investments Branch manages a portfolio that is broadly diversified into seven asset categories with assets totaling approximately $352.9 billion as of January 31, 2025. In 2024, the CalSTRS Investments Branch was named one of the Best Places to Work in Money Management by the Pensions & Investments magazine for the tenth time since 2013.
CalSTRS is committed to setting best practice precedents, implementing innovative diversity and inclusion principles, motivating positive change, and advancing the worlds investment markets. We do this by establishing collaborative relationships across a vast network of investment managers, portfolio companies and industry associations in order to maximize returns and leverage opportunities for positive change.
Our two U.S. Green Building LEED Platinum-certified headquarters buildings in West Sacramento, California, feature sustainable construction, abundant natural lighting, an organic garden, sustainable beekeeping and ergonomic functionally designed workspaces. We offer a variety of on-site amenities to our team members, including two full-service cafes, two free fitness centers, a bicycle rental library and a child care center with a covered playground. Team members enjoy walks along the Sacramento River and nearby seasonal farmers markets.
In addition to our state-of-the-art amenities, we offer thriving wellness and sustainability programs, an award-winning employee recognition program, and ongoing training, learning and development opportunities. We offer competitive benefits, flexible work hours and hybrid work options. We are committed to creating a workplace where our team members thrive.
If you're looking for a rewarding career and are interested in becoming part of a diverse and inclusive workforce where talent, expertise and wellness are valued, we encourage you to find out more about our many career options at CalSTRS.com/about-CalSTRS.
Special Requirements
Exam
This position requires a current Associate Portfolio Manager, STRS examination. If you need to take the examination or if your score has expired, click here to gain list eligibility.
CalSTRS Personal Trading Program
Investment Branch employees are required to participate in the CalSTRS Personal Trading Program which allows CalSTRS to monitor employees' personal trading transactions in order to reduce risks associated with insider trading, front running, and misusing material non-public information. Upon accepting a position within the Investment Branch, you will be required to disclose your personal broker account information and be required to utilize a personal broker from a designated list as provided by CalSTRS.
Background Investigation
Prior to employment with CalSTRS, a background investigation (BI) will be conducted. The BI consists of a Personal History Statement and fingerprinting through the Department of Justice. The BI will check criminal and civil records and, if applicable, verify education and check driving records.
CalSTRS Disclosure Requirements
This position may be subject to disclosure and disqualification requirements concerning economic conflict of interest in government work, including the Conflict of Interest Code that applies to CalSTRS team members and the Political Reform Act, which require disclosure of certain investment information and use of a designated trading platform for securities transactions, as well as filing a Statement of Economic Interest (Form 700).
Application Instructions
Completed applications and all required documents must be received or postmarked by the Final Filing Date in order to be considered. Dates printed on Mobile Bar Codes, such as the Quick Response (QR) Codes available at the USPS, are not considered Postmark dates for the purpose of determining timely filing of an application.
Final Filing Date: 3/26/2025
Job ID: 469082162
Originally Posted on: 3/13/2025
Want to find more Finance opportunities?
Check out the 60,626 verified Finance jobs on iHireFinance
Similar Jobs
Sign Up for Job Alerts
