Fixed Income Portfolio Analyst (Securitized) - Ranger

Fixed Income Portfolio Analyst (Securitized) - Ranger

Summary

The Portfolio Analyst supports the Fixed Income Portfolio Manager in the day-to-day management, execution, and risk oversight of fixed income portfolios, with a core focus on securitized products and portfolio risk discipline. The role also supports the Bank's investment portfolio under the Treasurer through securitized surveillance, risk analytics, and interest-rate risk inputs.

This is not a primary underwriting role. Success is defined by strong execution discipline, high-quality monitoring and analysis, and clear, decision-ready communication that supports both portfolio management and Treasurer-level discussions.

Trade Maintenance & Execution (Primary Day-to-Day Focus)

• Support execution workflows for corporate bonds, money market instruments, and securitized products, including price discovery, dealer runs, comparable analysis, and best-execution documentation.
• Own trade maintenance end-to-end: blotter accuracy, allocations, confirmations, settlement follow-through, exception management, and coordination with operations, custody, and accounting.
• Execute routine portfolio maintenance activity (rolls, rebalances, reinvestments) with strong process discipline, documentation, and audit readiness.
• Ensure execution and post-trade processes align with internal policies, best-execution standards, and portfolio guidelines.

Securitized Due Diligence & Surveillance (Core Emphasis - PM + Treasurer Support)

• Analyze securitized investments (Agency MBS, ABS, CMBS) for portfolio fit, including structure, key risks, liquidity, and expected performance across rate and spread scenarios.
• Produce concise purchase / hold / sell recommendations, clearly articulating:
  • Relative value context
  • Key risk drivers and sensitivities
  • Explicit "what would change the view" triggers
• Support price discovery and execution for securitized trades, including dealer runs, comparable levels, and documented execution rationale.
• Monitor the securitized sleeve at the portfolio level, including:
  • Duration, yield, carry/roll dynamics
  • DV01 and interest-rate sensitivity
  • Concentration limits and guideline adherence
  • Drift versus portfolio and Treasury targets
• Support Treasury risk processes by maintaining and validating securitized cash flows and assumptions, and by assisting with interest-rate risk modeling, reporting inputs, and reconciliations.

Rates, Duration Discipline & Portfolio Risk Monitoring

• Maintain a repeatable cadence of portfolio analytics and reporting, including duration, DV01 (and key-rate duration where applicable), convexity, yield, carry/roll, spread duration, liquidity profile, concentration exposure, and guideline compliance.
• Identify and flag exposure drift; propose actionable adjustments and clearly communicate trade-offs (carry vs liquidity vs DV01).
• Support scenario analysis (rate shocks, curve shifts, spread widening) and translate quantitative outputs into clear, plain-English implications for portfolio positioning.

Qualifications

• 3-6 years of relevant fixed income experience (portfolio analytics, trading support, risk, bank treasury, asset management, or sell-side), with meaningful exposure to securitized products.
• Demonstrated experience in securitized due diligence and surveillance across Agency MBS, ABS, and CMBS, including:
  • Structural familiarity
  • Ongoing monitoring cadence
  • Liquidity awareness
  • Clear escalation discipline
• Strong understanding of securitized risk drivers, including OAS/spreads, WAL/WAM, prepayment and extension behavior, tranche features, collateral fundamentals, and market technicals.
• Solid bond math foundation: yield and spread analysis, duration and DV01, convexity, carry/roll, and total return drivers.
• Tools: Bloomberg strongly preferred; Intex, Yield Book, or Trepp experience a plus.
• Advanced Excel skills required; Python, SQL, or VBA experience a plus.

Self-Starter & Continuous Improvement Mindset

• Proactively improves monitoring, reporting, and execution workflows through better templates, controls, automation, and documentation.
• Demonstrates strong ownership: follows issues through to resolution, escalates appropriately, and keeps stakeholders informed.
• Builds repeatable, scalable processes (e.g., watchlists, weekly risk packs, trade checklists) that reduce operational risk and improve consistency.

What Success Looks Like

• Trade workflows are executed with strong operational control, accuracy, and audit-ready documentation.
• The securitized portfolio is well-surveilled, with clear risk triggers, escalation paths, and portfolio-level implications that support PM and Treasurer decision-making.
• Portfolio duration, DV01, and liquidity exposures remain aligned with stated targets through reliable monitoring and timely action.

NOTE: This job description is not intended to be all-inclusive. Employee may perform other related duties as assigned by supervisor to meet the ongoing needs of the organization.

If any applicant is unable to complete an application or respond to a job opening because of a disability, please email us at HR@firstunitedbank.com for assistance.