Senior Risk Manager, Fixed Income

There is a place for you at T. Rowe Price to grow, contribute, learn, and make a difference. ​ We are a premier asset manager focused on delivering global investment management excellence and retirement services that investors can rely on today and in the future. The work we do matters. We invite you to explore the opportunity to join us and grow your career with us.

About this Position

The Senior Risk Manager, Fixed Income Risk position is a key member within T. Rowe Price’s independent Investment Risk team that is responsible for identifying, measuring, monitoring, communicating/escalating, and helping to mitigate risks in portfolios managed by the firm’s Fixed Income division. T. Rowe Price had $180 bn in Fixed Income assets under management as of June 30, 2024. The portfolios, comprising both active and absolute return, include a broad array of cash and derivative instruments across global markets.

This Baltimore-based role offers the opportunity to lead risk management coverage for fixed income investment strategies managed by the Investment Grade (IG) team. As the IG coverage lead, the Senior Risk Manager will often act autonomously in their role while also collaborating with US-based and London-based Fixed Income Risk team members and the broader Investment Risk team. An effective partnership with Global Technology associates is also essential to maintain and enhance infrastructure for portfolio risk oversight.  Additionally, the Senior Risk Manager will be involved in risk consultancy work for investment teams, which may include deep dive risk analyses, supplementary stress testing, and tail risk analysis. A thorough understanding of investment strategies and markets will be important for success. The Senior Risk Manager will also contribute subject matter expertise and commentary in support of regulatory requirements managed by other teams in Investment Risk.

Responsibilities

Day-to-day Risk Management Activities: 

• Review and interpret fixed income risk analytics and dashboards.

• Identify, measure, monitor, and communicate key portfolios risks to portfolio management teams with a focus on identifying significant sources of risk (e.g., factors, securities, sectors, etc.) and material changes to portfolios’ risk profiles.

•  Analyze tail risks and conduct stress tests based on hypothetical and historical scenarios.

• Collaborate with fixed income investment staff to understand their strategies and risk taking in portfolios.

Extension of Risk Reporting & Tools:

• Prototype and develop risk reporting and tools to enhance existing vendor risk platforms (primarily Bloomberg and MSCI RiskManager) for the identification and measurement of risks within and across fixed income portfolios.

• Specify data requirements for inclusion in dashboards/reports and potentially research and develop new methodologies and techniques.

• Contribute hands-on to the development process, working closely with associates in the Fixed Income and Global Technology divisions.

• Present and communicate analytical results effectively to ensure buy-in from colleagues and adoption by Investment Risk stakeholders.

Communication with Internal & External Stakeholders:  

• Interact with many stakeholders beyond frequent contact with investment teams, including client-facing professionals, management, oversight committees, clients, consultants, and prospective clients, as appropriate. 

• Demonstrate a strong grasp of technical details and an up-to-date knowledge of investment strategies and markets.

• Communicate complex topics clearly, confidently, and engagingly in both verbal and written forms.

• Contribute to timely written responses for fixed income risk information requested by clients, prospects, consultants, regulators, and internal teams at times.

Ad-hoc Analysis & Projects: 

• Perform ad-hoc data and quantitative analyses in response to requests from fixed income portfolio managers and risk team members.

• Collaborate with team members and the Fixed Income quant team, as needed, to ensure methodologies are sound and best practices are followed.

• Reconcile results with other in-house findings before communicating them to investment teams.

Qualifications

Required:

• A passion for risk management and a demonstrated interest in financial markets through academic background, work experience and/or outside activities

• Bachelor’s degree in a quantitative or scien