CMBS Sector Head

MD, Sr Portfolio Mgr - VHMDPM
We're determined to make a difference and are proud to be an insurance company that goes well beyond coverages and policies. Working here means having every opportunity to achieve your goals - and to help others accomplish theirs, too. Join our team as we help shape the future.

HIMCO (The Hartford Investment Management Company) is seeking an experienced and highly motivated CMBS Sector Head (the Sector Head) to lead the Commercial Mortgage-Backed Securities (CMBS) investment activities of the firm. The Sector Head will be responsible for managing CMBS investments and portfolios across HIMCO clients, totaling approximately $5 billion in assets and spanning both Agency and Non-Agency CMBS strategies.

The Sector Head will develop and maintain investment strategies tailored to each client's investment guidelines, return objectives, and risk tolerance. The Sector Head will be responsible for security selection, deal underwriting, portfolio construction, risk management, surveillance, and performance of CMBS investments across multiple client mandates.

In addition to portfolio management responsibilities, the Sector Head will lead and develop a team of three investment professionals, fostering a collaborative, high-performing culture centered on rigorous credit research, proactive portfolio surveillance, and ongoing talent development.

The Sector Head will maintain deep expertise in commercial real estate markets, CMBS structures, and emerging investment opportunities across the commercial mortgage sector. The Sector Head will report to the Head of Securitized Products. This position is based in our Hartford, CT office on a full time, hybrid schedule (T, W, Th in the office, M, F remote).

Responsibilities:

• Manage CMBS investments across the HIMCO platform, including both Agency and Non-Agency CMBS portfolios.
  
  • Develop portfolio strategies and model portfolios tailored to client objectives, investment guidelines, and risk appetites.
  • Identify and source relative value opportunities across CMBS sectors.
  • Monitor portfolio positioning, credit risk, spread exposure, duration, convexity, liquidity, and performance relative to benchmarks and investment targets.
  • Lead portfolio construction and rebalancing decisions to optimize risk-adjusted returns.
• Conduct fundamental credit analysis of commercial real estate collateral, borrowers, sponsors, property cash flows, and transaction structures.

• Analyze CMBS securitization structures, including waterfall mechanics, credit enhancement, prepayment provisions, extension risk, and loss allocation methodologies.
• Maintain a robust surveillance framework for all CMBS holdings.
• Review remittance reports, servicer commentary, and underlying collateral performance data to identify emerging risks and opportunities.

• Lead, mentor, and develop a team of three investment professionals.
• Provide coaching, training, and oversight to ensure consistent application of investment processes and risk management standards.
• Foster collaboration across the Securitized Products team and broader Fixed Income platform.
• Share market insights and investment expertise to support the development of junior and mid-level investment professionals.
• Collaborate with HIMCO's private commercial real estate team to inform both high level property-type views and asset-level underwriting assessments.
• Partner closely with the CMBS trader to execute primary and secondary market transactions while gathering market color to support investment decisions.

• 10+ years of investment experience in CMBS portfolio management, trading, research, or structured credit investing.
• Deep expertise across Agency CMBS, Conduit CMBS, SASB (Single-Asset Single-Borrower) CMBS and other commercial real estate credit markets.
• Strong understanding of:
  
  • Commercial real estate fundamentals
  • Property valuation methodologies
  • CRE market cycles and trends
  • Commercial mortgage underwriting
  • CMBS structural features and cash flow mechanics
• Extensive experience analyzing CMBS transaction structures, collateral performance, and credit risk.
• Advanced quantitative and analytical skills with the ability to evaluate complex structured finance securities.
• Strong proficiency in risk and data analysis systems such as Trepp, Bloomberg and Blackrock/Aladdin (preferred).
• Strong understanding of portfolio risk management principles and relative value investing.
• Proven leadership and team management experience, including mentoring and developing investment professionals.
• Demonstrated ability to work effectively both independently and collaboratively within a team environment.
• Sound investment judgment, strong decision-making capabilities, and excellent negotiation skills.
• Outstanding written, verbal, and presentation communication skills.
• Bachelor's degree required; MBA, CFA, or other advanced investment-related designation preferred.
• Able and willing to travel as required.