FIXED INCOME ANALYST II

Hello!

Unleash your potential by joining our team as a Fixed Income Analyst II. At PERA, you can support those who have supported you whether it’s a favorite teacher, the snowplow driver that cleared winter roads or the state trooper who let you off with a warning. Chances are these people who make a difference are PERA members and you can make a difference to those who have helped you.

Job Summary

This position is primarily responsible for being the lead analyst on Colorado PERA’s actively managed Treasury and Securitized portfolios. Primary responsibilities include analyzing, identifying, recommending and executing investment opportunities. The objective of the role is to be a critical member of a team that takes methodical risk in assigned portfolios in order to consistently outperform the Bloomberg U.S. Treasury, Bloomberg U.S. MBS, and the Bloomberg US Aggregate indices.

Essential Functions

• Function as the lead analyst for the Treasury and MBS portfolios
• Independently develop and articulate an investment thesis by conducting macro and sector research and utilizing internal and external models
• Independently identify and articulate individual security recommendations
• Treasury Portfolio: Develop a high conviction investment thesis to drive performance including but not limited to asset class positioning, duration, curve, off the run, and carry exposure
• MBS Portfolio: Develop a high conviction investment thesis on vintage, specified pool, agency swap, duration, convexity, stack, TBA and carry exposure
• Responsible for trading fixed income securities as directed by portfolio managers
• Function as Fixed Income’s primary data steward for applicable portfolios
• Utilize investment software to perform portfolio analysis and reporting, including positioning relative to the policy benchmark, active risk, and performance attribution
• Assist with securities lending program oversight
• Demonstrates an appropriate sense of urgency and initiative
• Participates in training and educational opportunities for ongoing professional development
• Maintains regular and prompt attendance in the workplace
• Performs other duties as requested

QUALIFICATIONS

• Bachelor’s degree in finance, business administration, accounting, or related field, MBA preferred, 7 years of investment industry experience
• CFA completed or in progress
• Thorough understanding of financial concepts, markets, principles, and theories
• Understanding of macroeconomics and its influence on investments
• Demonstrated analytical, problem solving, and decision making skills
• Effective prioritization and time-management skills
• Excellent oral and written communication and presentation skills
• Interpersonal skills including leadership and conflict resolution
• Proficiency with MS Office, Bloomberg, and other financial software applications
• Ability to work effectively both independently and with others in a team environment

WORKING CONDITIONS

• Standard office environment with regular computer and phone use
• Occasional travel as necessary for business purposes

HYBRID WORK OPTION

Opportunity to work from home up to two days per week. Eligibility dependent upon factors detailed in PERA's Work from Home Policy.

JOB DESCRIPTION DISCLAIMER:

This job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of an employee. Duties, responsibilities, and activities may change or new ones may be assigned with or without notice.

Unfortunately, at this time, we cannot consider candidates that require sponsorship (now or in the future), or are located outside of the US.

All Colorado PERA employees are subject to PERA’s Ethics Policy and some employees are subject to the Personal Trading Policy. These policies include restrictions on outside business activities and employment and have certain requirements on personal trading. You may request copies of these policies from PERA’s talent acquisition team and any questions can be answered by PERA’s Investment Administration team.

INTERESTED CANDIDATES
Complete the employment application through the Paycom platform. Please have copies of your resume and cover letter available to upload. Please review the following questions. You will be asked for a response to these as part of your application:

• Describe your experience in fixed income structured products. What is the processes do you undertake to make an investment decision
• Describe your career progression and how you believe this position would contribute to your career goals.
• Why are you interested in this position? Why do you think your skills and/ or experiences would make you successful in this position? 
• How do you determine relative value amongst securities and fixed income asset classes?
• The objective of the Fixed Income Division is to modestly outperform the Bloomberg Barclays U.S. Aggregate Bond Index, with an active risk maximum of 100 bps. Given a blank slate, how would you structure PERA’s MBS, CMBS, and ABS portfolios vs their respective benchmark ((LUMSTRUU) Bloomberg Barclays US MBS Index Total Return Value Unhedged USD (Returns, Unhedged), (LUCMTRUU) Bloomberg Barclays CMBS: Erisa Eligible Unhedged USD (Returns, Unhedged) (LUABTRUU) Bloomberg Barclays US Agg ABS Total Return Value Unhedged USD (Returns, Unhedged). Futures/futures like products are not permitted, nor is leverage. Assume the 100bp active risks limit applies to each individual portfolio. Please elaborate on your reasoning and any additional staffing needs and specific responsibilities. 

ABOUT COLORADO PERA

• Looking for a career where you can make a difference? Colorado PERA offers benefit services to public employees across Colorado, including teachers, state troopers, snowplow drivers, correctional officers and many others who provide valuable services. As Colorado’s largest pension plan, we serve and educate over 600,000 members who are former and current public employees.
• At PERA you will earn more than a paycheck. PERA is a culture where you can grow your potential and work in an inclusive environment, where diverse perspectives are valued. We hire exceptional employees and recognize that our people are our best asset. Not only do we make sound investments for our members, PERA invests in our employees’ growth through training and leadership opportunities.
• To promote wellbeing, we offer hybrid or flexible working options for most roles and a total rewards and benefit program including health, dental and vision coverage - eligibility starts the first day of the month following the date of hire for most plans; generous paid time off and volunteer hours; pension and retirement plans, including PERA’s defined benefit plan, 457 defined contribution plan, and 401(k) employer match, as applicable; tuition assistance; free, convenient on-site parking or RTD subsidy; free on-site fitness center to stay active; employee assistance program; training, leadership and mentoring programs and more. PERA is a Public Service Loan Forgiveness qualifying employer.
• To learn more about life at PERA, watch this video or visit www.copera.org/careers.

Position Title: Fixed Income Analyst II

Division: Investments Fixed Income

Reports to: Assistant Director or Director of Fixed Income

Job Status: Full Time / Exempt

Salary: $170,000 - 185,000 per year, commensurate with experience. This position is eligible to participate in PERA's Investment Incentive Plan, subject to the terms of the Plan Document.

Posting Dates: 5/17/2024 - Until filled