Securitized Portfolio Manager, VP II - State Street Investment Management

State Street • Boston, MA

6d • $120,000 - $202,500 • Onsite

About The Position

We are seeking a highly skilled and motivated Securitized Portfolio Manager to join our Global Fixed Income platform in Boston. This individual will play a key role in managing securitized credit portfolios across RMBS, CMBS, ABS, and CLOs, contributing directly to investment performance, portfolio construction, and client outcomes. This role requires a strong integration of portfolio management and credit research capabilities, combining top-down macro views with deep fundamental analysis of collateral, structures, and issuers.

Requirements

• 10 plus years of experience in fixed income portfolio management, with a focus on securitized products
• Deep expertise across RMBS, CMBS, ABS and/or CLO markets
• Credit Research background preferred

Nice To Haves

• A Master’s degree in finance, economics, mathematics, or other relevant field of study and or a CFA are preferred.

Responsibilities

• Manage securitized credit portfolios across agency and non-agency RMBS, CMBS, ABS, and CLOs
• Construct portfolios consistent with client objectives, risk budgets, and regulatory constraints
• Implement investment strategies across yield, spread, and structure opportunities
• Execute trades and manage positioning across primary and secondary markets
• Conduct fundamental credit analysis of underlying collateral pools, issuers, and deal structures
• Evaluate loan-level and pool-level performance dynamics, including default and loss expectations, prepayment and extension behavior, collateral quality, vintage, and underwriting characteristics
• Analyze structural protections, triggers, and tranche behavior under baseline and stressed scenarios
• Develop and maintain relative value assessments across sectors, shelves, vintages, and structures
• Generate actionable investment ideas informed by both bottom-up credit work and market technicals
• Generate relative value views across securitized sectors, structures, and capital stack positions
• Analyze collateral performance, prepayment dynamics, credit trends, and macroeconomic drivers
• Integrate top-down macro views with bottom-up security selection
• Monitor and manage key risks including: spread duration and interest rate exposure, prepayment and extension risk, credit and structural risk (including tranche behavior), ensure portfolios remain aligned with established risk frameworks and guidelines
• Partner closely with securitized research analysts, multi-sector PMs and asset allocation teams, quantitative research, trading and risk groups
• Contribute to the ongoing development of research frameworks, models, and portfolio construction tools
• Help drive integration of research insights into scalable portfolio decisions

Benefits

• our retirement savings plan (401K) with company match
• insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages
• paid-time off including vacation, sick leave, short term disability, and family care responsibilities
• access to our Employee Assistance Program
• incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans)
• eligibility for certain tax advantaged savings plans
• inclusive development opportunities
• flexible work-life support
• paid volunteer days
• vibrant employee networks

What This Job Offers

• Job Type: Full-time
• Career Level: Senior