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Managing Director, MBS Portfolio Manager, Chief Investment Office (CIO)
Managing Director, MBS Portfolio Manager, Chief Investment Office (CIO)PNC • New York, NY, US
Managing Director, MBS Portfolio Manager, Chief Investment Office (CIO)

Managing Director, MBS Portfolio Manager, Chief Investment Office (CIO)

PNC • New York, NY, US
1 day ago
Job type
  • Full-time
Job description

Managing Director, MBS Portfolio Manager

At PNC, our people are our greatest differentiator and competitive advantage in the markets we serve. We are all united in delivering the best experience for our customers. We work together each day to foster an inclusive workplace culture where all of our employees feel respected, valued and have an opportunity to contribute to the company's success. As the Managing Director, MBS Portfolio Manager within PNC's Asset & Liability Management organization, you will be based in New York City. This position is primarily located in a PNC location. The CIO Investments team is searching for a Portfolio Manager (PM) to lead the Agency Mortgage-Backed Securities (MBS) sector. The position will report to the Chief Investment Office.

The CIO Investments team is part of the ALM organization and manages 200+bn in securities and derivatives; Agency MBS is a large part of the investment mandate and portfolio. At PNC CIO, we aim to optimize risk-adjusted economic returns, ensuring compliance with regulatory requirements, and aligning investments with the institution's balance sheet objectives. We are seeking an experienced MBS PM who is well versed with evaluating relative value and generating excess returns within the MBS universe. There are no product silos in the CIO Investments team; the successful candidate will have the opportunity to work directly with other portfolio managers and the Chief Investment Officer to manage a broad portfolio of fixed income assets and derivative products. The position is based in New York City and is fully in office.

Additional Responsibilities :

  • Enhance the investment approach based on strong analytics and deep understanding of investor dynamics and market and regulatory developments affecting the MBS market e.g. the changing refinancing rules affecting FHA borrowers.
  • Engage with MBS dealers to ensure efficient information flow and trade execution.
  • Partner with the CIO portfolio analytics and modeling teams to develop robust analytics to measure risk and assess relative value.
  • Monitor and report risk metrics and portfolio performance.
  • Manage the agency MBS portfolio team with a focus on talent development.

With regard to the overall investment portfolio the candidate will :

  • Monitor macro-economic and policy developments relevant to fixed-income markets.
  • Collaborate with other senior PMs and the Chief Investment Officer on investment strategy for the CIO investment portfolio.
  • Mentor junior talent in the CIO Investments team.

    • Preferred experience / qualifications :

  • Minimum 12 years of experience in fixed-income portfolio management, with a focus on agency MBS.
  • Expertise in agency MBS valuation, risk analysis, and portfolio optimization.
  • Ability to interpret market trends and translate them into actionable strategies.
  • Strong knowledge of ALM practices in a banking environment.
  • Understanding of regulatory frameworks and interest rate risk management.
  • Excellent analytical, communication, and decision-making skills.
  • Education : Masters or higher degree in finance, economics, engineering, or related fields.

    • PNC will not provide sponsorship for employment visas or participate in STEM OPT for this position.

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