Portfolio Manager, Investments

State of Washington•Thurston County – Olympia, WA

11h•Hybrid

About The Position

The Washington State Treasurer's Office (OST) is seeking an experienced Liquidity Portfolio Manager to manage the overnight investment process for the Local Government Investment Pool (LGIP) and Treasury Portfolio. This role is also responsible for cash flow forecasting and analysis. Reporting to the Deputy Treasurer for the Investments Division, the Portfolio Manager will manage assigned areas of OST's investment portfolios and conduct day-to-day activities of investment programs. Key functional areas include overnight investments, short-term/liquid investments, fixed income portfolio management, custodial oversight, cash flow forecasting, and earnings reporting and forecasting. The Investments Division invests the state’s operating and capital cash reserves, manages the LGIP and Separately Managed Account programs, and all portfolios are actively traded and managed internally.

Requirements

Demonstrate knowledge, skills, and abilities required to perform the essential functions of this position, acquired through any combination of education, training, certifications, and/or professional experience.
Develop, monitor, and maintain reliable cash flow forecasts through analysis, ongoing monitoring, and collaboration with internal and external partners.
Build and maintain productive working relationships with internal and external stakeholders to obtain information needed to support investment decisions and liquidity management.
Independently identify operational issues, investigate underlying causes, exercise sound judgment, and recommend practical solutions.
Analyze financial, statistical, and operational data to identify trends, assess risks, and support sound investment and cash management decisions.
Evaluate interconnected business processes and recognize how operational changes may affect downstream activities, financial outcomes, or organizational risk.
Communicate significant developments, emerging risks, and operational concerns to leadership in a timely and effective manner.
Produce accurate, detail-oriented work while managing multiple priorities and meeting established deadlines.
Work independently with minimal supervision while contributing effectively to a collaborative team environment.

Nice To Haves

Experience managing short-term liquidity investments, including repurchase agreements and money market instruments.
Knowledge of cash flow forecasting, ideally in a public sector context.
Knowledge of fixed income markets, bond valuation, and fixed income investment analysis.
Experience supporting investment, treasury, banking, or institutional asset management functions.
Experience with buy-side or sell-side investment operations.
Knowledge of banking operations, online banking systems, and financial reporting practices.
Experience conducting financial or statistical analysis to support business or investment decisions.
Knowledge of applicable laws, regulations, policies, or industry standards governing public funds, investments, or treasury operations.
Education, training, or professional certifications in finance, investments, economics, mathematics, business administration, accounting, or a related field.

Responsibilities

Manage daily investment operations, including overnight investment of cash for Treasury and LGIP accounts.
Ensure portfolio compliance with investment policies and guidelines.
Monitor bank balances throughout the day.
Provide backup support for the Portfolio Administrator, LGIP Administrator, and State’s Surplus Funds CD and Linked Deposit programs.
Identify and execute trade opportunities to maximize portfolio yield.
Track and understand market conditions and influences using Bloomberg data, dealer contacts, and research materials.
Monitor portfolio assets and rebalance as needed.
Back up and co-manage LGIP Administrative Investment Activities.
Manage repo and bank counterparty relationships, including documentation and evaluation of services.
Draft, track, and review periodic Requests for Proposal (RFPs) for custody services.
Develop and update investment policy and guidelines, administrative regulations, and fund prospectus materials.
Prepare written materials and presentations as needed.
Develop, monitor, and maintain reliable cash flow forecasts through analysis, ongoing monitoring, and collaboration with internal and external partners.
Use budgeted and historical data to forecast cash flows for the state Treasury and the state general fund.
Track balances and refine forecasts using month-end data and information from state agencies.
Evaluate the impact of proposed legislation on cash flow and earnings.
Work with state agencies to improve the accuracy of forecast data.
Respond to requests for information regarding cash flows.
Use forecast data to anticipate liquidity needs.
Prepare quarterly forecasts of state general fund and Treasury earnings for the Economic Revenue and Forecast Council.
Respond to requests for information regarding OST earnings.
Use forecast data to determine appropriate distribution of portfolio gains.
Verify and review investment performance data.
Assist with portfolio pricing and benchmark tracking.
Represent the Investment Team in interactions with IT staff.
Perform other duties as required to support the operation of the Investments Division.