Portfolio Manager of Internal Fixed Income

Summary of Work

The North Dakota Retirement and Investment Office (RIO) is a global institutional investor with investment portfolios of more than $21 billion. RIO is governed by the State Investment Board (SIB) which is responsible for the investment of the assets of the several state funds. The funds managed by RIO include the Legacy sovereign wealth fund, pension funds including the Public Employee's Retirement Plan and the Teacher's Fund for Retirement, and the Worker's Safety and Insurance Fund. The SIB may provide investment management services to, and manage the money of, any agency, institution, or political subdivision of the state, subject to agreement with the Industrial Commission. At RIO, we are driven by our values of integrity, accountability, and service in fulfillment of our investment and fiduciary responsibilities. Our investment team is seeking an experienced and driven Portfolio Manager of Internal Fixed Income to play a contributing part in ensuring RIO fulfills its mission, vision, and values.This key role will lead portfolio strategy, internal management and trading of an intermediate government/credit internal enhanced index portfolio, model portfolio implementation, ETF portfolios, derivative overlays, collateral portfolios, and liquidity optimization as well as other active future fixed income mandates that may include securitized investments. With respect to the total portfolio overlays, the position will oversee the management and trading of derivatives portfolios designed to rebalance and maintain each pool's total portfolio level target exposures for fixed income risk. The Portfolio Manager of Internal Fixed Income will partner with the investment team to optimize investment performance. The position will help to develop investment strategies for pension funds, an endowment structure, and insurance trusts. The internal fixed income organization is new for the North Dakota Retirement and Investment Office, and this role will be responsible for crafting the internal fixed income strategy, building its team over time and its implementation.To thrive in this position, you must be an experienced and collaborative investment leader with strong organizational and managerial skills to lead a high performing, engaged team. Effective communication and collaboration with stakeholders and public and private organizations are essential for this position. Position reports to the Chief Investment Officer. RIO is located in Bismarck, ND. This role will be required to be in office in Bismarck, ND on a scheduled frequency. Upon review and approval by the RIO Executive team, the role may be considered for a remote work arrangement. Salary Range: $180,000 to $210,000 annually commensurate with experience. This role may be eligible for a discretionary incentive compensation plan based on performance. You'll need to have: Bachelor's degree in accounting, economics, finance, mathematics, or business (with an emphasis in investments, economics, finance, accounting, or related investment content), or a closely related field from an accredited college or university. 8+ years of relevant experience working in a similar fixed income portfolio investment role. The candidate should have a background in fixed income portfolio management and investment; other quantitative and risk management investment experience is preferred. Note: Equivalent combinations of education and experience may also be considered. We'd love to see: Effective oral, written, and interpersonal communication skills A sophisticated understanding of investment vehicles, investment statistics/metrics, portfolio theory, capital markets and the investment processExperience working for an entity (e.g. public agency or private corporation) that has a major investment program A high degree of proficiency with windows-based software for word processing, spreadsheets, quantitative tools such as python programming language, risk and performance systems and concepts, and database managementAdvanced excel skillsExperience utilizing investment related software CFA and other investment related credentialsWorking with Team ND and RIO:More than 7,500 talented, hard-working people across sixty-three state agencies have come together as Team North Dakota. At Team ND, we are driven to succeed through gratitude, humility, curiosity and courage. Our purpose is to empower people, improve lives, and inspire success. Join us in being legendary.North Dakota's Retirement and Investment Office (RIO) was established in 1989 to coordinate the activities of the State Investment Board (SIB) and the Teacher's Fund for Retirement (TFFR) as stated in Section 54-52.5-01 of the North Dakota Century Code. While the SIB is the oversight board for RIO, the TFFR Board is responsible for the administration of the TFFR benefits program. Our mission is to provide prudent and transparent investment services for our client funds and support North Dakota public school educators with responsible benefit administration.Our vision is to be recognized as a trusted and innovative provider of investment and pension services.For more information on RIO's mission, vision, and values, please visit: https://www.rio.nd.gov/retirement-and-investment-officeTotal Rewards: The State of North Dakota is committed to providing team members with a strong and competitive rewards package that support you, your health and your family. These benefits include 100% employer-paid family health insurance, excellent retirement plans, generous annual and sick leave plans, and more. Additional details about total compensation and benefits will be provided during the hiring process.Considering a new position on Team ND? How does your current position stack up? Use our Total Rewards Calculator to estimate.Application Procedures:Apply online at www.nd.gov/careers. Applicants must submit a completed online application, resume, and cover letter by the closing date to be considered for this position. The cover letter must include a detailed summary of how the applicant meets the qualifications of this position.Applicants must be legally authorized to work in the United States.A criminal history record check, including fingerprinting, will be conducted on the successful candidate prior to hiring per NDCC 12-60-24.Please contact Scott Anderson, Chief Investment Officer at (701) 328-9889 for questions about the role or Hope Wedul at (701) 328-3357 for questions or assistance in the application process. Equal Employment Opportunity:The State of North Dakota and this hiring agency do not discriminate on the basis of race, color, national origin, sex (including sexual orientation and gender identity), genetics, religion, age or disability in employment or the provisions of services and complies with the provisions of the North Dakota Human Rights Act.