We’re determined to make a difference and are proud to be an insurance company that goes well beyond coverages and policies. Working here means having every opportunity to achieve your goals – and to help others accomplish theirs, too. Join our team as we help shape the future.
The Senior Director, Portfolio Manager, Agency MBS (the PM), will help lead the Agency MBS investment activities of the firm. The PM will be responsible for managing the portfolio of Agency MBS investments across HIMCO. The PM will develop and maintain a model portfolio for each of HIMCO’s Agency MBS clients tailored to their specific investment guidelines and risk appetite. The PM will be responsible for security selection, risk management and performance of the Agency MBS portfolio.
In addition to the Agency MBS investments, The PM will be analyzing and sourcing investments in a select few Mortgage Credit sub-sectors. This will include credit research, prepay analysis, and loan level loss modeling of Non-Agency residential assets. The PM will report to the Head of Securitized Products, and be based out of our Hartford,
CT office.
Responsibilities:
Manage Agency MBS investments across the HIMCO platform. This will include:
Develop Agency MBS strategy and model portfolio for each of HIMCO’s Agency MBS clients
Analyze and source Agency MBS pools based on detailed prepayment analysis
Monitor portfolio positions, risk analytics (duration, convexity, prepayment risk), and performance against benchmarks and targets
Lead the month-end portfolio rebalancing process for Index accounts as it pertains to Agency MBS Investments
Responsible for select Mortgage Credit sub-sectors. This will include:
Enhance and update loan level credit model for RMBS asset classes
Conduct research, credit analysis and related due diligence on new investment opportunities and present recommendations to senior PMs
Enhance and maintain a standardized surveillance framework for all investments
Develop relationships with investment banks to source investments in emerging residential asset classes that are a good fit for our clients
Continue to grow expertise by monitoring the housing market and regulatory environment to proactively identify trends; anticipate and communicate opportunities and risks that could impact investments to client portfolio managers
Focus on relative value opportunities that result in strong excess return contribution for the clients
Proactively share investment knowledge and mentor others to contribute to the development of the team
Prepare and present portfolio positioning, individual investments, and market insights to senior management and client portfolio managers
Help market HIMCO’s investment activities. Support sales and marketing activities for clients and potential clients
Work closely with other members of Securitized Products team in developing and enhancing statistical loss models and option adjusted spread frameworks for various asset classes
Qualifications:
7+ years of related trading/research/portfolio management experience in investment management or financial services with a strong focus on Agency MBS and securitized products
Strong knowledge of MBS modeling, prepayment behavior, interest rates and volatility
Advanced quantitative and analytical skills, with a keen eye for detail. Deep understanding of statistical analysis
Solid understanding of mortgage default modeling utilizing large data sets of loan level information
Proficiency in risk and data analysis systems such as Yield Book, Bloomberg, CoreLogic’s Loan Performance database, 1010Data, Intex and Blackrock/Aladdin is preferred
Firm grasp on U.S. housing market, mortgage underwriting, prepay trends, default analysis and housing regulation
Demonstrated:
Ability to develop and work with statistical models
Ability to work both independently and collaboratively as a member of a team, ownership mindset
Sound investment judgment and negotiation skills
Outstanding verbal and written communication skills
Ability to achieve desired results in a matrix management environment
Bachelor’s degree required; MBA and/or professional/graduate qualification in an investment related discipline preferred
Able and willing to travel as required
About the Firm:
Hartford Investment Management Company (HIMCO) is the asset management arm of The Hartford Insurance Group, Inc. (The Hartford). HIMCO is an insurance asset manager with approximately $112 billion in assets under management across the global fixed income and alternatives markets (as of December 31, 2024). The firm manages assets on behalf of The Hartford, as well as insurance, sub-advisory and other institutional clients.
As a condition of your employment for HIMCO, you will be required to affirm to HIMCO’s Code of Ethics and understand that you will be required to comply with the disclosure of accounts, holdings, and pre-clearance of trades for the accounts of you and your household family members as more fully described in the Code of Ethics Key Points. If you will be deemed to be a “Covered Associate” under HIMCO’s Pay to Play Policy, you will also need to disclose all political contributions that you have given within the past 2 calendar years.
Compensation
The listed annualized base pay range is primarily based on analysis of similar positions in the external market. Actual base pay could vary and may be above or below the listed range based on factors including but not limited to performance, proficiency and demonstration of competencies required for the role. The base pay is just one component of The Hartford’s total compensation package for employees. Other rewards may include short-term or annual bonuses, long-term incentives, and on-the-spot recognition. The annualized base pay range for this role is:
$144,160 - $216,240Equal Opportunity Employer/Sex/Race/Color/Veterans/Disability/Sexual Orientation/Gender Identity or Expression/Religion/Age
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