ICMA-RC Seeks Senior Stable Value Fund Manager

The Senior Fund Manager will take a lead role in the co-management of proprietary stable value funds/portfolios and oversight of certain fixed income funds/portfolios and external asset managers. Such responsibilities will include working with the Managing Vice President, Fixed Income and other senior investment personnel, in developing and implementing stable value fund/portfolio strategies and the negotiations of stable value contracts.  In addition to other responsibilities assigned, the Senior Fund Manager will also be integral in planning, managing projects, making stable value portfolio presentations to current and potential clients/consultants, and liaising with other divisions of the Corporation and with external parties.

Duties include:

  • Management of proprietary stable value funds/portfolios

    • Work with the MVP, Fixed Income and other senior investment personnel in developing and implementing fixed income/stable value fund/portfolio strategies
    • Conduct research to support and determine optimal portfolio structure, asset managers and asset allocation.
    • Manage cash flows and/or the rebalancing of certain funds and portfolios.
    • Work with MVP, Fixed Income and other senior team members in the negotiations of contract terms/guidelines with stable value issuers. Analyze stable value investment contractual terms/guidelines and work with in-house counsel on contracts.
    • Develop, establish and implement appropriate investment policies, guidelines and procedures.
    • Implement the changes needed including working with asset managers, issuers, other external parties and different groups within the Corporation.
    • Stay updated and provide input on the stable value industry, financial markets, the economy and fixed income markets.
    • Support Sales in the marketing of stable value products through presentations, research, analysis, written reports and “request for proposal” reviews/responses   utilizing stable value and fixed income specific knowledge. 
    • Research, review, write, and as needed, present routine and ad hoc reports of stable value portfolios, issuers and asset managers for different reporting needs.  Examples include information for internal groups/divisions, committee meetings, board reports, fund prospectus, regulation filings, clients and consultants.
  • Oversight of fixed income funds/portfolios and external fixed income managers

    • Perform due diligence (both qualitative and quantitative analysis) on funds/portfolios/asset managers.
    • Manage the due diligence process of existing funds/portfolios/asset managers including the relationships with asset managers.
    • Manage the implementation process of hiring and termination of asset managers.
    • Develop relationships with and perform due diligence on back-up and prospective asset managers.  
    • Manage the investment guideline process (including negotiations, implementation and adherence) for portfolios/asset managers.
    • Support other Fund Managers through a team approach to provide continuity of daily management of other fixed income funds/portfolios.
  • As assigned by the MVP, Fixed Income, the Senior Fund Manager may be responsible for other activities such as:

    • Developing and maintaining relationships with current and prospective issuers, other stable value managers, and consultants.
    • Assist in developing new stable value products.
    • Take a lead role in special investment related studies and projects including stable value thought leadership.
    • Manage projects common to fixed income team for internal groups such as Compliance, Internal Audit, and Legal.
    • Manage relationships with outside vendors.
    • Work closely with the MVP, Fixed Income in developing analysts in the Fixed Income Group.

Required knowledge:

Investment experience with emphasis on stable value portfolio management and structuring, contract analysis and negotiations; fixed income portfolio analysis; investment and economic trends; broad knowledge of fixed income securities; attention to detail; and communication of investment-related information.  Investment management experience with stable value investments, manager-of-managers/subadvisory relationship, or manager evaluation is strongly preferred.

Please see PDF listing for more detail.

Candidates should email Lina McVey at lmcvey@icmarc.org for consideration.