Portfolio Manager - Chief Investment Office

Bank of America•Charlotte, NC

1d•Onsite

About The Position

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day. Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve. Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us! Job Description: This job is responsible for the daily risk management and market monitoring of the company's investment portfolio. Key responsibilities include executing transactions in accordance with established policies and risk parameters and developing thorough knowledge of the product area including market liquidity & volatility, pricing and trading/hedging strategies. Job expectations include leveraging technical and product knowledge to provide guidance and support to the team. Bank of America is seeking a Mortgage Portfolio Manager to join the Chief Investment Office (CIO), which oversees the bank’s asset-liability management through its Held-To-Maturity, Available-For-Sale, and Mark-To-Market investment portfolios. The CIO also manages debt hedging, risk oversight of Mortgage Servicing Rights (MSR), and the bank’s mortgage pipeline hedging and loan delivery activities. The CIO manages approximately $900 billion in assets, primarily concentrated in G7 fixed income securities, including sovereigns and supranational, agency and non-agency residential and commercial mortgage-backed securities, collateralized mortgage obligations, asset-backed securities, collateralized loan obligations, and residential whole loans. The team also makes extensive use of derivatives such as interest rate swaps, swaptions, futures, options, and TBAs to manage interest rate and market risk.

Requirements

Strong technical and analytical capabilities
Effective communication and teamwork skills
Solid foundational knowledge in finance and data-related domains
Investment Management
Price Verification and Valuation
Trade Monitoring
Trading
Trading and Investment Analysis
Causation Analysis
Monitoring, Surveillance, and Testing
Portfolio Analysis
Risk Management
Trading Strategy
Programming & Data Science: Proficient in Python/R or equivalent, and Git; experienced in data modeling, visualization, wrangling, machine learning, and econometric analysis.
Investment & Trading Expertise: Strong background in investment management, trading, trading strategy, and investment analysis.
Risk & Portfolio Analysis: Skilled in risk management, portfolio analysis, price verification, valuation, and trade monitoring.
Analytical & Investigative Skills: Capable of causation analysis, surveillance, and testing; adept at synthesizing complex information quickly.
Communication & Collaboration: Excellent verbal, written, and presentation skills; effective team collaborator with a proactive and organized approach.
Strong interpersonal communication skills (ability to discuss market activities over the phone with multiple dealers).

Nice To Haves

Graduate degree (preferably in engineering, computer science, math, or statistics)
Prior experience in sell-side (investment banking, trading, structuring) or buy-side portfolio management
Strong product knowledge including Agency and Non-Agency Residential and/or Commercial mortgage-backed securities, TBAs, and Agency collateralized mortgage obligations
CFA Level II/III certification

Responsibilities

Oversee daily risk management and market monitoring of mortgage and asset-backed securities within the investment portfolio.
Execute transactions in alignment with established policies, risk parameters, and strategic objectives.
Develop and maintain deep expertise in mortgage-related products, including market liquidity, volatility, pricing, and hedging strategies.
Leverage technical and product knowledge to support and guide team members.
Contribute to portfolio optimization and risk mitigation efforts through data-driven analysis and strategic insight.
Performs scenario analysis and sensitivity testing to assess potential market impacts and risks
Develops and maintains portfolio monitoring tools and investment dashboards
Conducts in-depth market research, risk assessments, and financial analysis to support investment decisions
Mentors and supports teammates on investment strategies, market characteristics, and systems
Execute trades across mortgage and asset-backed securities, as well as associated derivatives including TBAs, in alignment with portfolio and risk management objectives.
Conduct financial, quantitative, and market analysis using advanced econometric and scenario modeling techniques to support investment strategy and risk assessment.
Develop and present portfolio performance reports, analytics, and proposals for Asset-Liability Management (ALM) adjustments and hedge rebalancing strategies.
Collaborate with portfolio managers and cross-functional teams to design, enhance, and maintain investment tools, quantitative models, and real-time monitoring dashboards.
Monitor enterprise risk appetite limits, evaluate portfolio exposures, and perform sensitivity testing to ensure alignment with broader CIO and business objectives.
Mentor and support team members by sharing expertise on investment strategies, market dynamics, analytical methodologies, and best practices in portfolio management.