Fixed Income Portfolio Manager, Bond Separately Managed Retail Accounts (Bond SMAs)

Job Description:

The Role

Fidelity is looking to hire a Portfolio Manager to join its Fixed Income Division as a fiduciary for our growing taxable and tax-exempt separately managed retail account (SMA) business. The Fixed Income Division uses a team-based approach, and the Portfolio Manager will co-manage the accounts in partnership with the existing Portfolio Manager. The selected individual will help develop and implement investment strategies that provide a high level of income consistent with preservation of capital to be offered through Fidelity's managed account businesses. As team co-leader, the Portfolio Manager will also assist in the development of technology infrastructure supporting the investment process, will contribute to ongoing product strategy design and will partner with business support groups to ensure delivery success.

This role will report to one of the Chief Investment Officers and will require close working relationships with other investment leaders, portfolio managers, analysts, traders, operational support professionals, and distribution channel partners. The position requires familiarity with the bond markets including market structure, and knowledge of portfolio analysis and construction techniques. Responsibilities also entail significant technology engagement, demand effective communication capability, and require demonstrated attention to detail. The chosen individual should seek continuous improvement of investment processes and skills in addition to risk-adjusted market returns.

Primary Responsibilities

• Retail Separate Account Management: Daily investment and improvement of Fidelity's bond Separately Managed Accounts (SMAs) for retail investors. Develop investment thesis and views to advise iterative optimizations and high volumes of small-lot trades. Investment objective of competitive, risk-adjusted returns over time.
• Research Integration: Engage analysts as key, ongoing contributors in investment strategy creation and implementation in alignment with team investment thesis.
• Trading Integration: Partner with taxable and municipal bond traders to execute strategies appropriately. Manage daily cash flows to ensure best execution and compliance with guidelines and policies. Coordinate the integration of the SMA trading activities with the those of other Fixed Income portfolios. Review completed trades to ensure desired execution.
• Quant Integration: Work closely with quant analysts on the PBM team to leverage taxable and municipal security level analytics and portfolio construction and order generation capabilities to systematize investments at scale for all accounts. Coordinate and develop tools to enable how broad market and sector level views are implemented in large number of smaller SMAs with significantly smaller set of securities.
• Technology: Partner with enterprise technology teams with respect to ongoing improvements to portfolio tools and platforms. Experience with Python/coding, optimizers and existing SMA vendors in the marketplace a plus.
• Product Development and Improvement: Work with product and advisory teams on ongoing product development and marketing efforts. Initiate and complete improvements of existing products as needed. Understand legal and compliance requirements for all managed products.
• Channel Support: Assist customer-facing distribution partners with representing market views, portfolio capabilities, performance, and related perspectives. Establish and deliver regular investment messaging materials to support distribution needs.

• Fixed Income investment experience and demonstrating understanding and views of bond markets and market structure. Experience with the municipal bond market, issuers, fundamental factor and opportunities a plus.
• Familiarity with fixed income risk, risk platforms, and risk metrics.
• Genuinely interested in process improvement and efficiency.
• Appreciation of and interest in the unique role of technology and coding in the SMA business.
• Strong quantitative skills and technical skills a plus.
• Creative thinker and problem-solver; flexible and welcoming of new insights and perspectives.
• Meticulous attention to detail; strong ability to prioritize and manage time.
• Humble teammate with consistent track record of partnering across the investment organization; passionate about developing and mentoring less experienced staff.
• Unquestioned integrity and strong work ethic.
• MBA or CFA.
• 5+ years investment experience desirable.