NY HELPNo

AgencyTeachers' Retirement System

TitleAssistant Director-Fixed Income

Occupational CategoryAdministrative or General Management

Salary GradeNS

Bargaining UnitCSEA Local 658 (NYS Teachers’ Retirement System)

Salary RangeFrom $165609 to $186395 Annually

Employment Type Full-Time

Appointment Type Permanent

Jurisdictional Class Unclassified Service

Travel Percentage 10%

Workweek Mon-Fri

Hours Per Week 37.5

Workday

From 8 AM

To 4 PM

Flextime allowed? Yes

Mandatory overtime? No

Compressed workweek allowed? No

Telecommuting allowed? Yes

County Albany

Street Address 10 Corporate Woods Drive

City Albany

StateNY

Zip Code12211

Duties Description Job Duties

The Assistant Director – Fixed Income is responsible for, but not limited to, the following duties:

Perform fixed income portfolio management, analysis, trade execution and monitoring across all internally managed fixed income sub-sectors with a primary focus on the domestic fixed income portfolio and the hard currency emerging market debt portfolio

Supervise and provide directions to staff in the management of internal portfolios, participate in staff monitoring of external portfolios

Recruit, oversee, develop and mentor Fixed Income professional staff and review staff’s work in the performance of fixed income related projects while consistently providing feedback and guidance

Manage the preparation and review of periodic fixed income reports for use by Fixed Income staff, NYSTRS’ Board, Investment Advisory Committee (IAC) and/or NYSTRS management and present to NYSTRS’ Board; Internal Investment Committee (IIC); IAC and staff

Represent the Fixed Income Department in NYSTRS’ IIC meetings, NYSTRS’ Board Meetings; NYSTRS’ IAC and NYSTRS’ Real Estate Advisory Committee (REAC) meetings

Participate and collaborate with Fixed Income management and staff to conduct due diligence on external fixed income managers for existing and/or new investment mandates in various fixed income sub-asset classes such as global bonds, high yield, and others

Engage with management and staff, along with NYSTRS general investment consultant as necessary, in the implementation and oversight of external managers: including analyzing asset classes and specific securities, evaluating money manager capabilities and performance; and overseeing portfolios

Coordinate or manage the review and preparation of fixed income-related investment policy manuals, consolidated annual report financial reporting information, periodic information disseminated to the NYSTRS’ Board and any requests made by external fixed income money managers, NYSTRS’ departments, including the NYSTRS’ Executive Director/CIO

Participate and/or oversee administrative duties, as well as new and existing initiatives including identification and evaluation of platforms and/or technology, the annual budgeting process, and relationship building with fixed income counterparts which includes the review and approval of new fixed income counterparts



Other Duties and Responsibilities:

Partake in NYSTRS’ asset allocation process, planning as it relates to the implementation of the fixed income portion of the asset allocation plan, identifying areas of relative value across fixed income sub-asset classes that are within Fixed Income’s investment universe and mandate, assemble a plan to execute the strategy and oversee implementation of the plan

Represent the Fixed Income Department in the participation of cross-departmental projects and initiatives, as well as membership in NYSTRS’ currently ongoing and/or forthcoming special topic investment and/or regulatory committees

Minimum Qualifications Minimum Qualifications

Bachelor’s degree in finance, accounting, business administration, economics, mathematics, statistics or engineering; OR

Bachelor’s degree in any discipline combined with a master’s in business administration, master’s in finance or master’s in accounting, AND

Seven (7) years involved in the management, analysis and implementation of fixed income portfolios, with a significant portion of that in US Aggregate strategies, including a minimum of five (5) years of experience managing and/or monitoring fixed income portfolios exceeding $2.5 billion 

Additional Comments Position Summary

The Assistant Director of Fixed Income will assist in both the development and implementation of fixed income internal portfolio(s) strategy, portfolio construction, and risk management. The Assistant Director of Fixed Income will be responsible for having a macro understanding of the various objectives and asset classes managed and monitored by the department along with detailed management and portfolio expertise in specific fixed income sub-sector areas. With respect to the latter, broader expertise is expected to gradually increase over time.

Some travel is required for professional development opportunities and for onsite due diligence for existing and prospective external fixed income managers.

Preferred Qualifications

CFA preferred 

Experience analyzing, monitoring and/or executing or directing the execution of investments in multiple fixed income sub-asset classes, including corporate, government & agency, mortgage-backed securities, asset-backed securities, and money market instruments

Experience selecting and monitoring external fixed income managers in an institutional setting

Familiarity and knowledge of core and non-core fixed income assets (i.e., high yield bonds, USD hard currency investment grade emerging market bonds, leveraged loans, TIPs, covered bonds, fixed income derivatives)

Thorough understanding of the economic factors that impact the financial and fixed income markets, including returns

Functional in the use of technology such as Bloomberg, Trade Web; portfolio analytical tools such as BlackRock’s Aladdin, Bloomberg PORT; DirectBooks, MarketAxess and Excel in the analysis and/or execution of fixed income purchases, sales and portfolio management; experience with fixed income order management systems, including Aladdin 

Understanding of fixed income derivatives and corresponding risks

Broad understanding of fixed income asset classes, risks and benchmarks

Understanding of quantitative Fixed Income portfolio management

Ability to think strategically and plan for the future

Proven ability to manage during times of financial market turmoil
Experience developing staff under your supervision
Commitment to providing exceptional customer service
Excellent communication and interpersonal skills
Two years of supervisory experience with a proven ability to successfully work in a collaborative environment



Work Modality
Currently we have a hybrid work schedule which may be subject to change in the future

Some positions may require additional credentials or a background check to verify your identity.

Name Christine DiPierno

Telephone 518/447-2838

Fax N/A

Email Address recruitment@nystrs.org

Address

Street 10 Corporate Woods Drive

City Albany

State NY

Zip Code 12211

Notes on ApplyingNote: In order to be considered for this position, please use this link to visit our applicant portal and apply to the position: https://nystrs.wd12.myworkdayjobs.com/NYSTRS_Careers. We will not accept resumes sent via email.