Description
Summary of Job Responsibilities
This position is primarily responsible for being the lead Fixed Income Portfolio Manager on Colorado PERA’s actively managed Treasury portfolio and function as the lead analyst on the Mortgage-Backed Securities portfolio. Primary responsibilities include analyzing, identifying, recommending and executing investment opportunities. The objective of the role is to be a critical member of a team that takes methodical risk in assigned portfolios in order to consistently outperform the Bloomberg U.S. Treasury, Bloomberg U.S. MBS, and the Bloomberg US Aggregate indices.
Essential Duties and Responsibilities
Employees are held accountable for all duties of the job. Individuals must be able to perform these duties with or without reasonable accommodations.
- Function as the lead Fixed Income Portfolio Manager for the Treasury portfolio
- Function as the lead Analyst on the MBS portfolio
- Independently develop and articulate an investment thesis by conducting macro and sector research and utilizing internal and external models
- Treasury Portfolio: Develop a high conviction investment thesis to drive performance including but not limited to asset class positioning, duration, curve, off the run, and carry exposure
- MBS Portfolio: Develop a high conviction investment thesis on vintage, specified pool, agency swap, duration, convexity, stack, TBA and carry exposure
- Function as a critical member of a team making asset allocation recommendations across the Bloomberg US Aggregate sectors
- Independently identify and articulate individual security recommendations
- Responsible for trading fixed income securities
- Utilize investment software to perform portfolio analysis and reporting, including positioning relative to the policy benchmark, active risk, and performance attribution
- Demonstrates an appropriate sense of urgency and initiative
- Participates in training and educational opportunities for ongoing professional development
- Maintains regular and prompt attendance in the workplace
- Performs other duties as requested
- Job Qualifications
Bachelor’s degree in finance, business administration, accounting, or related field, MBA preferred, 7+ years of investment industry experience - CFA completed or in progress
- Thorough understanding of financial concepts, markets, principles, and theories
- Understanding of macroeconomics and its influence on investments
- Demonstrated analytical, problem solving, and decision making skills
- Effective prioritization and time-management skills
- Excellent oral and written communication and presentation skills
- Interpersonal skills including leadership and conflict resolution
- Proficiency with MS Office, Bloomberg, and other financial software applications
- Ability to work effectively both independently and with others in a team environment
WORKING CONDITIONS
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.
- Standard office environment with frequent telephone communication, computer operation, and other office productivity machinery, such as a copy and printer machine.
- Occasional moving and positioning supplies in excess of 20 pounds
- All employees are expected to present themselves in a professional manner in alignment with the financial services industry
- Ability to sit for prolonged periods of time
- Ability to operate standard PC equipment
- Ability to manage frequent deadlines and tight schedules
- Occasional travel as necessary for business purposes
HYBRID WORK OPTION
- Opportunity to work from home up to three days per week. Eligibility dependent upon factors detailed in PERA's Work from Home Policy.
Requirements
JOB DESCRIPTION DISCLAIMER:
This job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of an employee. Duties, responsibilities, and activities may change or new ones may be assigned with or without notice.
Unfortunately, at this time, we cannot consider candidates that require sponsorship (now or in the future), or are located outside of the US.
All Colorado PERA employees are subject to PERA’s Ethics Policy and some employees are subject to the Personal Trading Policy. These policies include restrictions on outside business activities and employment and have certain requirements on personal trading. You may request copies of these policies from PERA’s talent acquisition team and any questions can be answered by PERA’s Investment Administration team.
INTERESTED CANDIDATES
Complete the employment application through the Paycom platform. Please have copies of your resume and cover letter available to upload. You will be asked for a response to these as part of your application:
- Have you managed a treasury portfolio versus a benchmark? What is your track record of doing such?
- How would you construct a Treasury portfolio that is seeking to outperform a Treasury benchmark (Treasury subcomponent of the Bloomberg Aggregate Index)?
- Describe your experience in fixed income structured products. What processes do you undertake to make an investment decision?
- If you were solely in charge of managing the Treasury and MBS securities in the Bloomberg Aggregate Index, each with index weights of 45% for Treasuries and 24% for MBS, what changes would you make in asset allocation to outperform index returns and why? (assume a targeted annual return of +30bp vs the index).
ABOUT COLORADO PERA
Looking for a career where you can make a difference? Colorado PERA offers benefit services to public employees across Colorado, including teachers, state troopers, snowplow drivers, correctional officers and many others who provide valuable services. As Colorado’s largest pension plan, we serve and educate over 600,000 members who are former and current public employees.
At PERA you will earn more than a paycheck. PERA is a culture where you can grow your potential and work in an inclusive environment, where diverse perspectives are valued. We hire exceptional employees and recognize that our people are our best asset. Not only do we make sound investments for our members, PERA invests in our employees’ growth through training and leadership opportunities.
To promote wellbeing, we offer hybrid or flexible working options for most roles and a total rewards and benefit program including health, dental and vision coverage - eligibility starts the first day of the month following the date of hire for most plans; generous paid time off and volunteer hours; pension and retirement plans, including PERA’s defined benefit plan, 457 defined contribution plan, and 401(k) employer match, as applicable; tuition assistance; free, convenient on-site parking or RTD subsidy; free on-site fitness center to stay active; employee assistance program; training, leadership and mentoring programs and more. PERA is a Public Service Loan Forgiveness qualifying employer.
To learn more about life at PERA, watch this video or visit www.copera.org/careers.
Position Title: Fixed Income Portfolio Manager - Treasury
Division: Investment – Fixed Income
Reports to: Director of Fixed Income
Job Status: Full-time, Exempt
Salary: $190,000.00 to $230,000.00 Annual, Commensurate with experience
Posting Dates: 03/13/2026 to 06/14/2026
