Portfolio Risk Manager, Fixed Income

2 weeks ago

Dorchester Center, United States Wellington Management Full time

About Us

Wellington Management provides extensive investment management services that encompass nearly all sectors of the global capital markets. Our investment offerings, customized to meet the distinct return and risk objectives of institutional clients across more than 60 countries, leverage a solid foundation of proprietary research and a collaborative environment that promotes independent thought and constructive dialogue. As a private partnership, we believe our ownership structure cultivates a long-term perspective that aligns our views with those of our clients.

About the Role

THE POSITION
The Fixed Income Risk Manager role is a key component of the Global Risk & Analytics (GRA) team. GRA serves as the global investment risk function for Wellington and operates within the firm's Risk and Investment Science department.

The primary responsibility of GRA is to lead Wellington Management's portfolio oversight, risk assessment, and security analytics processes across a diverse range of multi-asset, hedge fund, equity, fixed income, and research strategies.

The Risk Manager will work closely with our fixed income investment teams across various regions to comprehend their investment methodologies and the associated risks.

They will oversee risk management by monitoring the suitability of risk levels and exposures across the Research portfolios and assisting investors in utilizing quantitative tools to enhance their portfolio construction and investment strategies.

The Risk Manager should possess the confidence to challenge investment teams' thinking directly and present areas of concern or focus to other Wellington stakeholders for further evaluation as necessary.


A successful Risk Manager will utilize Wellington's risk modeling and analysis platform to support the risk-taking and portfolio construction efforts of the investment teams.

Active engagement with investors is crucial, including guiding them in adopting best practices for utilizing quantitative perspectives in portfolio management and encouraging teams to directly use technological tools rather than relying solely on risk managers for report generation.

It is essential for the Risk Manager to continuously improve the risk platform to meet the evolving needs of our investors and clients.

S/he will also develop or enhance clear, engaging reports and shared dashboards that highlight significant portfolio risks or potential enhancements related to risk.

This role is hands-on, involving technical work, research, and data management; the team conducts much of its work within the firm's curated Python environment, which includes a sophisticated set of APIs for risk analysis.

The Risk Manager position requires a robust understanding of fixed income risk analysis, acquired through substantial experience in institutional investment management and risk management.

S/he should stay informed about investment trends to assess the risk implications and communicate the resulting risks within the team.

The ideal candidate will demonstrate technical proficiency and knowledge, excel at building collaborative relationships with investment professionals and management at all levels, and foster a shared vision of the advantages of more risk-aware decision-making.

RESPONSIBILITIES

  • Collaborate directly with portfolio management teams as an independent risk resource, offering complementary insights and constructive challenges to investors regarding their investment theses and portfolio composition to achieve superior risk-adjusted outcomes for clients.
  • Engage daily with Risk Managers and investment professionals to ensure transparent measurement and reporting of risks in portfolios.
  • Partner with Line Management and Investment Products and Fund Strategies colleagues to ensure the firm's fiduciary responsibilities regarding investment risk are fulfilled.
  • Actively participate in Risk Meetings and other discussions on market and portfolio risk insights, concerns, and measurements.
  • Ensure Risk Management reports, dashboards, and industry-leading tools are accurately executed and reviewed, with outliers or areas of concern brought to the team's attention.
  • Engage in enhancing the Risk reporting infrastructure, including the design of exhibits and reports to support the risk oversight process.
  • Conduct ad-hoc research and analysis to address investor inquiries and support Risk Management engagements.
QUALIFICATIONS

The ideal candidate will possess a solid analytical foundation, coupled with a curiosity for analysis, strong organizational skills, a passion for financial markets, and a motivation to thrive in a team environment, along with the ability to learn about new analytical applications and investment products.

Experience in working with technology resources on implementation, particularly in integrating risk concepts with data analysis, is essential.

Demonstrated capability to work independently with primary data in mathematical packages is critical, with proficiency in SQL and Python highly preferred (other tools such as R or Matlab are also acceptable). Specific skills in risk models and/or data visualization tools are advantageous. Knowledge in the insurance or pension sectors, including actuarial science or asset/liability management experience, would also be viewed favorably.

Additional key qualifications include:

  • 7+ years' experience in risk management within long-only or benchmark-relative fixed income or multi-asset portfolios, gained on the Buy-side, Sell-side, or Consultancy
  • Proven ability to effectively partner with investment talent
  • Ability to manage multiple tasks, prioritize effectively, meet deadlines, and deliver high-quality, accurate work in a fast-paced environment
  • Demonstrable knowledge of fixed income derivatives
  • Experience with insurance mandates is a plus
  • Familiarity with structured fixed income products such as MBS (Mortgage-Backed Securities) or CLO (Collateralized Loan Obligation) products is advantageous
  • Previous experience as a risk taker would be beneficial

Strong academic credentials:
post-graduate degree in a quantitative field and/or FRM/CFA/CAIA preferred

We are committed to building and maintaining a diverse workforce and considering a broad array of candidates with various skills, workplace experiences, and backgrounds.


As an equal opportunity employer, Wellington Management ensures that all qualified applicants will receive equal consideration for employment without regard to race, color, sex, sexual orientation, gender identity, gender expression, religion, creed, national origin, age, ancestry, disability (physical or mental), medical condition, citizenship, marital status, pregnancy, veteran or military status, genetic information, or any other characteristic protected by applicable law.


At Wellington Management, our approach to compensation is designed to attract, inspire, and retain the best talent in our industry. We strive to offer fair and competitive compensation across all levels and roles, considering all aspects of total compensation, including salary, variable compensation, and benefits.


The base salary range for this position is:
USD 80,000


This range reflects the wide array of factors considered in compensation decisions, including skill sets, role, experience, certifications, and education.

This range is an estimate, and further details on salary and total compensation will be shared with candidates during the recruitment process.


Base salary is just one component of Wellington's total compensation approach. Other rewards may include a discretionary Corporate Bonus and/or Incentives, if eligible.

Additionally, we offer a comprehensive benefits package to meet the unique needs of our employees and their families, and we are committed to fostering a flexible work environment that enables employees to thrive personally and professionally.

Examples of our benefits include retirement plans, health and wellbeing coverage, dental, vision, and pharmacy benefits, health savings accounts, flexible spending accounts, employee assistance programs, life and disability insurance, adoption assistance, backup childcare, tuition/CFA reimbursement, and paid time off (leave of absence, paid holidays, volunteer, sick, and vacation time).

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