Sr. Portfolio Manager - Structured

The next part of your journey is right around the corner — with The Standard.

A genuine desire to make a difference in the lives of others is the foundation for everything we do. With a customer-first mindset and an intentional focus on building strong teams across the nation, we’ve been able to uphold our legacy of financial stability while investing in new, innovative technologies that support the needs of our customers. Our high-performance culture focused on operational excellence thrives thanks to remarkable people united by compassion and a customer-first commitment. Are you ready to make a difference?

Job Summary

The Sr. Portfolio Manager - Structured is a member of the Fixed Income team, and is responsible for the prudent management of one or more of The Standard's buy and hold investment securitized bond portfolios. This role will require sound investment strategies, credit analysis, buy/sell decisions, and trade execution, along with market trend, economic, and security class analysis which impact current and future portfolio performance.

** Core hours of 6:30AM Pacific time zone to 3:30PM Pacific time zone is required. **

Key Responsibilities:

(40%) Portfolio Management:

• Responsible for the management and performance of assigned sectors in the portfolio(s) including ABS, CMBS, RMBS, CLOs, and EETCs. Monitor that investments are within corporate guidelines and regulatory policy.  Maximize spread/yield for the credit and interest rate risk taken, varying the level of risk taken based on the environment and opportunities. Evaluate relative value within the applicable asset classes to determine the optimal portfolio structure and asset allocation consistent with the group’s strategy. Manage position sizing over time and across issuers and sectors.
• Monitor factors that could affect the value of the company’s asset-backed securities, consumer and residential mortgage investments including, but not limited to changes to consumer strength, residential housing market, financial regulation, NRSRO/NAIC methodology and ratings, capital requirements, political and economic environment, and any fundamental and technical changes to the capital markets.

(30%) Credit selection and management:

• Review deal term sheets and offering documents to understand key deal terms related to payment waterfall, collateral eligibility, deal performance triggers, and rights and authorities of key parties.
• Build and maintain cashflow, surveillance, and collateral models. Project impact of stresses on the cashflow, pricing, liquidity, and rating of investments.
• Produce approval memos when necessary.

(20%) Trading:

• Trade structured securities in both primary and secondary markets. Negotiates with brokers on investment transactions to optimize yield and spread.

(10%) Projects:

• Participate in product development / special projects that require securities expertise and involvement. Provide training to staff, share insights on investment guidelines & regulatory policy, and utilize analytical tools such as Intex, FactSet and Bloomberg. Collaborate on macro/thematic inquiries from senior management.

Skills and Background You’ll Need

• EDUCATION: A Bachelor’s degree in Finance, Economics, Business or related field is required. A CFA (Chartered Financial Analyst) or MBA is preferred.
• EXPERIENCE: 5-7 years of direct progressive experience in portfolio management, securities trading, and analysis. Advanced knowledge and understanding of credit underwriting and structure for asset backed (ABS), commercial mortgage (CMBS), collateralized loan (CLO) and residential mortgage (RMBS) securities.
• Portfolio management experience in the insurance industry and/or within a similar asset liability management (ALM) context.
• Proficient user of Intex, Trepp, Bloomberg and other securitized software programs is required.
• Demonstrated expert ability to discuss offerings with brokers.
• Proven ability to make critical financial and investment decisions in a dynamic environment with high visibility to executive leadership. Experience working effectively as both an individual and as part of a highly collaborative team.

Key Behaviors of a Successful Candidate

• Adaptability - Quickly and resourcefully adapts to multiple changing work demands by adjusting team priorities to fit new circumstances.
• Improvement Mindset - Recognizes opportunities for improvement between teams or functions; addresses problems and makes suggestions for ongoing improvement.
• Customer Focus: Takes the extra step to anticipate customers’ needs and immediately resolves br