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Portfolio Manager, Financial Institutions Group

PIMCO
New York, United States
Posted 27 days ago Permanent Competitive
Portfolio Manager, Financial Institutions Group
About Us:

We are PIMCO, a leading global asset management firm. We manage investments and develop solutions across the full spectrum of asset classes, strategies and vehicles: fixed income, equities, commodities, asset allocation, ETFs, hedge funds and private equity. PIMCO is one of the largest investment managers, actively managing more than $2.2 trillion in assets for clients around the world. PIMCO has over 3,070 employees in 22 offices globally. PIMCO is recognized as an innovator, industry thought leader and trusted advisor to our clients.

PIMCO is one of the world's premier fixed income investment managers with thousands of professionals around the world united in a single purpose: creating opportunities for our clients in every environment. Since 1971, we have brought innovation and expertise to our partnership with the institutions, financial advisors and millions of individual investors who entrust us with their assets. We aspire to cultivate performance and leadership through empowering our people, diversity of thought, and a commitment to an inclusive culture that engages in our global communities.

Position Description:

Financial Institutions at PIMCO
The FIG PM team reports to the Global CIOs and is responsible for the overall portfolio strategy positions aligned with firm strategy. The FIG PM team is dedicated to covering insurance companies and banks and has direct accountability for the portfolios they manage. While FIG mandates may include constraints that restrict sectors and tools to implement themes, our portfolio managers use their expertise to ensure that themes are aligned with the firm's outlook.

The FIG PM team is structured in a hub and spoke manner. As generalists, they partner heavily with specialist portfolio managers for sector insight. This structure leverages the resources of PIMCO's extensive portfolio management capabilities to the benefit of our insurance clients. It allows FIG PMs to use specialists across the firm (e.g., corporate desk, ABS desk) to source individual positions while retaining responsibility for risk across the overall portfolio.

PIMCO manages over $400B in affiliated financial institutions assets and $151B in unaffiliated global insurance assets.

Position Summary
We are seeking a senior Generalist PM for our Financial Institutions team to manage portfolios for affiliated and unaffiliated Insurance companies.

Major Responsibilities:
  • Manage investment portfolios for Insurance clients in a risk intelligent manner
  • Work with other FIG Portfolio Managers to determine the investment strategy for the portfolios, fully reflecting PIMCO's broader investment themes/strategies and the unique circumstances of the FIG clients
  • Partner with credit research and traders to source bonds (predominantly 10-30 year IG Corporates) to meet massive reinvestment and premium flows of our Insurance clients
  • While FIG PMs partner heavily with specialists PMs, we are not "asset allocators". FIG PMs ultimately own all of the buy/sell decisions within their portfolios and are thus required to be "in the weeds": understanding risk down the security level, determining relative value across industries and sectors, determining appropriate risk position scaling, etc.
  • Contribute to the broader PIMCO investment process by contributing relevant market color and independent analysis/research
  • Ability to service high profile clients and handle the vast majority of credit discussions with clients directly.
  • Support client franchise by working with account managers to update existing clients on market conditions, philosophy, process and performance
  • Support growth in PIMCO's FIG business by working with other channel members on new business cultivation, RFPs, final presentations, external presentations and publications
  • Work with compliance officers and account managers to ensure individual accounts are managed within guidelines and restrictions


Position Requirements:

Position Requirements:
  • 5+ years of fixed income experience in Portfolio Management, preferably with a focus on Financial Institutions/Insurance sector
  • Credit heavy and corporate experience a MUST
  • Experience in the FIG industry, including familiarity with the regulatory and accounting frameworks a plus
  • Strong client facing skills and communication skills, both written and verbal
  • MBA and/or CFA a plus


Critical Competencies for Success:
  • Ability to develop thoughtful trading strategies for specific objectives and/or recommended alternative strategies for achieving portfolio goals
  • ability for work across the organization with Portfolio Managers, Traders, Credit Research Analysts and Account Managers in a collaborative manner
  • Manage the information flow from markets to internal constituencies
  • Effective client presentation skills; ability to articulate PIMCO philosophy and process while supporting new business franchise


Other Personal Characteristics:
  • A collegial work style and a collaborative mindset
  • Combines strength of convictions with appropriate consideration
  • Strong work ethic, attention to detail, pride/ownership of work and desire to win
  • Ability to remain calm and objective in the face of periods of excessive optimism or extreme pessimism in the markets
  • Unassailable ethics and integrity


Benefits:

PIMCO is committed to offering a comprehensive portfolio of employee benefits designed to support the health and well-being of you and your family. Benefits vary by location but may include:
  • Medical, dental, and vision coverage
  • Life insurance and travel coverage
  • 401(k) (defined contribution) retirement savings, retirement plan, pension contribution from your first day of employment
  • Work/life programs such as parental leave and support, employee assistance plan, commuter benefits, health club discounts, and educational/CFA certification reimbursement programs
  • Community involvement opportunities with The PIMCO Foundation in each PIMCO office


Job ID  33076
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