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About this role BlackRock’s Fixed Income team runs more than $1 trillion in global fixed income assets across index, active long-only, alternative, and liability driven strategies. The platform offers fixed income investors one of the industry's broadest array of investment choices across model-based and fundamental investment styles. The Financial Institutions Group is seeking a candidate to join the team as a junior Portfolio Manager in Sydney, Australia working on AUD/NZD denominated portfolios. The FIG team manages a wide range of Fixed Income portfolios for financial institutions, including $12bn in AUD/NZD denominated portfolios. The successful candidate will work with the Lead PM to support the day-to-day management of the portfolios. This will include monitoring portfolio positioning (including cash, risk levels and compliance with investment guidelines), ensuring consistency across portfolios, raising orders on portfolios, and liaising with our partner teams (like credit research, risk and trading) on the portfolios. The candidate will also be expected to contribute to alpha, yield, and idea generation by providing assistance throughout the life cycle of an investment and its implementation in portfolios.
Job Responsibility:
Work as part of the FIG Portfolio Management Team based in Sydney, covering AUD and NZD denominated portfolios and assets
Analytical work with a focus on fixed income modelling such as: relative value, carry & roll down, book yield, duration & curve etc
Understanding and calculation of solvency capital requirements for insurance portfolios and local regulatory requirements such as APRA GPS120
Research: ability to produce in depth original research for investment purposes as required by clients and the wider team
Develop bottom-up knowledge of the issuers we invest understanding the fundamental credit research process and liaising with the credit research team
Daily market screening of primary and secondary offers, suggesting and implementing trades based on fundamentals and technical factors
Portfolio management: daily monitoring of selected portfolios, including setup, ongoing evaluation, execution, and management of investments through new issue and secondary market transactions
In-depth knowledge of the mandates (including guidelines and investment objectives), performance assessment (total return, book yield alpha)
Preparation of presentations both for clients’ benefit and for internal purposes, assist on new opportunities
Coordination with other teams and build strong working partnership: primarily but not limited to credit research, trading desk, trade operations, RQA and client relationship team
Coding: maintain and develop Python code to support portfolio management activities in the effort to create scalable and robust processes
Requirements:
2+ years of experience and knowledge of Fixed Income markets strongly desired with experience in capital markets
Fixed income and general finance knowledge, including an understanding of bond math and risk
Ability to learn fixed income markets, including complexities of different issue types, liquidity, and trading
Ability to grasp quantitative concepts of risk and exposure, and their application to portfolio management
Technical skills including advanced Excel, Aladdin and SQL/VBA/Python programming experience a strong plus
Ability to adapt quickly to changing market environments and perform under tight time constraints
Strong problem-solving skills and attention to detail
Proactive individual with a desire to learn and take on responsibility
Strong interpersonal skills, work ethic and leadership