Job Board Title:
Portfolio Manager - Fixed Income: SALARY $134,505.49 - $170,493.65 Annually

Post Date
4/29/2025

Expiration Date
5/30/2025

Details:
Summary
Our current opening is for a Portfolio Manager to join our investment team. We are looking for a team member that can use their investment knowledge and financial industry experience to perform highly specialized financial analysis to support the King County Investment Pool’s (KCIP) strategic investment plans. This position will actively participate in the development, recommendation, implementation and monitoring of all aspects of the KCIP’s authorized investments and will also serve as a key advisor on financial matters to the County’s Executive Finance Committee (EFC), Credit Committee and to Finance & Business Operations Division’s (FBOD) investment management team.


About the job:

With over $10 billion under management, the KCIP is the second largest local investment pool in the state of Washington and in the top 20 nationally. Over the last three years the KCIP has distributed a total of $560 million in earnings to participants. The Portfolio Manager position’s primary responsibility will be to collaborate with the Chief Investment Officer and Senior Portfolio Manager in administering and managing all matters related to the KCIP; and assume a major role in managing the KCIP’s short-term liquidity portfolio. Other responsibilities include, but are not limited to:

Perform daily cash management and related investment accounting system functions
Interact across teams and respond to clients for accurate and timely resolutions
Report on the performance of the KCIP both verbally and in written form

Scope of Job Duties: To be considered for this opportunity, you must at a minimum, demonstrate knowledge, skill, and ability to:

Management Skills: The ability to participate in key relationships on behalf of the KCIP with executives, partners, consultants, and pool participants
Understanding of Portfolio Management: The ability to understand and recommend changes and enhancements to KCIP’s diversified assets by comparing investment opportunities
Analytical skills: The ability to analyze financial, economic, statistical, legal, accounting, market, and other matters quickly, efficiently, and accurately and summarize those results
Interpersonal skills: Act as one of the key advisors on strategic investment plans and policies for FBOD
Develop strategies to improve operational efficiency and/or performance of cashflow positioning, including overseeing the development of operational plans to ensure performance targets are met. Monitor global and national financial conditions and collaborate with the investment team to meet objectives of the KCIP investment policy
Conduct relative value of fixed income investment opportunities by interpreting risk-reward parameters including market drivers of bond performance and the value of available alternatives
Oversee investment pool distribution process
Ensure that multimillion-dollar transactions are accurately transmitted and settled
Help ensure the KCIP always maintains sufficient liquidity to meet all cash demands, including the complexities caused by the County’s $400 million commercial paper self-liquidity program
Prepare monthly performance reports of the KCIP that are relied on by FBOD’s investment team and Executive Finance Committee

Qualifications:
Minimum Qualifications:

Bachelor’s degree with a major in Finance, Economics, Mathematics, Accounting, Business, Quantitative Methods, or a closely related field
Experience in strategy development and/or operational planning; within a financial services environment or any combination of experience/education/training that provides the required knowledge, skills and abilities to perform the work
7+ years of professional experience in fixed income portfolio management, trade initiation, credit analysis, fixed income investment instruments, and financial reporting within a multibillion-dollar organization or with multibillion-dollar fixed income portfolio
Professional experience maintaining relationships with investment broker/dealers and advanced understanding of money-market securities such as tri-party repurchase agreements, commercial paper, discount notes, etc.
Demonstrated ability to understand financial statements, cash flow analysis and credit agency reports
Knowledge and understanding of financial markets and the investments security settlement process
Professional experience in investment management, accounting, or banking
Strong understanding of the various characteristics and calculations related to fixed income securities
Previous experience working with investment systems such as Bloomberg, BondEdge, Yield Book, Singularity, Clearwater, etc.
Strong communication, interpersonal, writing and customer service skills
Skill in understanding political situations that might arise from policy decisions
Ability to perform research, analyze and solve problems
Ability to work individually and collaboratively as a team member
Ability to think differently, are eager to try new things and challenge yourself to improve processes
Intermediate level of technology proficiency using MS Office Productivity tools in your daily work
Professional experience managing, testing, or leading projects that improved operational efficiency and/or performance, while ensuring projects are managed responsibly and comply with all relevant laws, regulations, and policies
Ability to manage your time and adapt to changing priorities, work on multiple priorities and projects simultaneously, meet quick deadlines, and produce timely and quality work products
Ability to uphold our division’s values
Ability to work in a hybrid work environment
We would love it if you had:

CFA Charter or currently participate in the program
Advanced technical skills in Microsoft Excel
Knowledge of quantitative methods, statistics, mathematics, economics, etc.
Experience with LEAN processes and principles
Experience with SharePoint, MS Teams, and other collaborative online tools


Comments:
Position Information:

Work Site Details: The work associated with this position will primarily be hybrid. FBOD employees are currently required to work two assigned days a week in the Seattle office. In office requirements may change as required by King County business needs.
Location Requirement: Employees must reside in Washington state and within a reasonable distance to their King County worksite to respond to workplace reporting requirements.
Work Schedule: This position is Exempt from the provisions of the Fair Labor Standards Act and therefore is not overtime eligible. Employees are paid on a bi-weekly schedule, every other Thursday, comprising a 40-hour workweek; normally 8:00 a.m. - 5:00 p.m. Monday through Friday.
Union Representation: This position is not represented.
Employees will be provided with a County issued laptop. When working remotely employees must maintain a workspace with an internet connection (access may be supplemented in some situations) where they can reliably perform work, remain available and responsive during scheduled work hours, and follow FBOD’s Hybrid and Remote Guidelines including on-camera participation during virtual video meetings. King County has a robust collection of tools and resources to support working remotely.

The Application/Selection Process:
The recruitment for this position is open to all qualified candidates. A completed King County Application is required. Applicants from this recruitment may be used to fill future opportunities in this job classification. We highly recommend that you also provide a resume and cover letter addressing how you meet the minimum qualifications and why you are interested in this position.

The first screening of applications will take place on Tuesday, May 13th. The job posting will remain open until filled. The selection process typically consists of a phone screen, video interview, and reference checking. For some positions the process may also include skill testing, writing samples or additional interviews. Candidates will be updated on the status of their application via the email address used to apply.

Note: Online applications are preferred. However, if you cannot apply online, go to www.kingcounty.gov/jobs for other options.

Employer:
King County
Contact:
Liz Callahan, Senior Recruiter

Email:
Liz.callahan@kingcounty.gov

Website:
https://www.governmentjobs.com/careers/kingcounty/jobs/newprint/4920860