Municipal Bond Portfolio Manager

Northern Trust • Chicago, IL

4d • $137,400 - $233,600

About The Position

Manage municipal bond portfolios for individual and institutional clients and funds, aligning investment decisions with client objectives, risk tolerance, tax considerations, and income needs. Apply municipal market expertise, disciplined portfolio construction, and technology skills to implement investment strategies, monitor risk and performance, and improve portfolio-management workflows. Communicate portfolio positioning and results to clients and contribute to the development of investment analytics and processes.

Requirements

• A minimum of ten years of investment-management and financial-markets experience, including at least five years of portfolio management and trading.
• A minimum of five years of municipal fixed-income experience, including hands-on portfolio management and trading, with demonstrated knowledge of municipal market structure, credit considerations, and portfolio risk.
• Knowledge of portfolio-management theory, statistics, and quantitative methods in finance, and the ability to apply them to portfolio construction, risk assessment, and performance analysis.
• Strong proficiency with portfolio-management systems and investment analytics, including the ability to interpret data, evaluate holdings and exposures, support trading decisions, and generate clear reports.
• Knowledge of fiduciary responsibilities and the legal and regulatory requirements governing investment decisions, with the ability to apply applicable laws, codes, regulations, and investment guidelines.
• Ability to explain portfolio decisions, investment risks, and performance clearly to clients and other stakeholders.
• Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future.

Nice To Haves

• Experience improving investment workflows through automation, analytical-tool development, or more effective use of portfolio data and technology.
• Strong knowledge of Perform and/or experience using Aladdin.

Responsibilities

• Manage municipal bond portfolios for fiduciary and agency accounts, high-net-worth individuals, pension accounts, and common funds in pursuit of client objectives and benchmark-relative performance, within established risk parameters and investment guidelines.
• Implement investment strategy through municipal security selection, sector allocation, duration and yield-curve positioning, and specific trades. Incorporate credit quality, diversification, liquidity, maturities, calls, and reinvestment needs into portfolio decisions.
• Work with clients to develop investment objectives and guidelines reflecting risk tolerance, tax considerations, and income needs, and align portfolio structure with those objectives, investment policy, economic factors, and municipal market conditions.
• Evaluate appropriate performance benchmarks in accordance with established investment policy. Monitor portfolio returns, exposures, and positioning against benchmarks and client guidelines, and assess whether strategy remains appropriate as markets and client needs change.
• Use portfolio-management systems and analytical tools to evaluate holdings, support trading decisions, monitor risk, and produce reports. Identify opportunities to improve data quality, streamline recurring workflows, and strengthen investment analysis.
• Prepare portfolio analyses for existing and prospective clients. Lead periodic discussions of performance, positioning, strategy, and reporting, and respond to client inquiries.
• Maintain current knowledge of municipal markets and fixed-income developments through economic research, market contacts, and continuing education.

Benefits

• Retirement benefits, including 401(k) and pension
• Health and welfare benefits, including medical, dental, vision, spending accounts, and disability
• Paid time off
• Parental and caregiver leave
• Life and accident insurance
• Other voluntary and well-being benefits
• Discretionary bonus program that may include an equity component

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: No Education Listed