Senior Portfolio Manager

State of Wisconsin Investment Board • Madison, WI

2d • Hybrid

About The Position

The State of Wisconsin Investment Board (SWIB) manages over $178 billion in assets, including the fully-funded Wisconsin Retirement System (WRS), operating at a level comparable to top-tier global asset managers. SWIB is home to top talent, with approximately 61 percent of its investment professionals being Chartered Financial Analyst (CFA) charterholders. Located in Madison, Wisconsin, SWIB offers a modern workspace, hybrid work options, and competitive compensation and benefits. Its mission is to secure the financial future of over 703,000 WRS beneficiaries. The Fixed Income Strategies team manages over seventeen billion across five portfolios, encompassing rates, investment grade and leveraged credit, and structured products. This team integrates fundamental and quantitative insights, managing both long-only and long/short strategies with an emphasis on disciplined portfolio construction, rigorous risk management, and collaborative decision-making. SWIB is seeking an experienced Senior Portfolio Manager to join this team. This role involves conducting in-depth fundamental credit analysis across high yield and leveraged loan issuers, producing investment recommendations, and supporting portfolio construction. The ideal candidate should possess strong analytical rigor, market awareness, and a proven ability to identify relative value opportunities in below-investment-grade debt.

Requirements

• Minimum 10 years of experience in leveraged finance analytics, including advanced financial modeling and valuation skills
• Demonstrated success identifying relative value opportunities within covered sectors
• Strong understanding of credit markets, capital structures and distressed situations
• Broad understanding of global fixed income and capital markets
• Strong ability to collaborate effectively within a small team and across investment disciplines
• Excellent written and verbal communication skills
• Strategic mindset paired with exceptional attention to detail
• Team-oriented professional with a positive, constructive approach
• U.S. work authorization

Nice To Haves

• Familiarity with CLOs and private credit preferred
• Proficiency with Bloomberg, Aladdin, or similar tools

Responsibilities

• Perform investment research inclusive of credit analysis, deal write-ups, and financial modeling
• Evaluate relative value across bonds, loans, and other credit instruments
• Monitor existing portfolio holdings and provide ongoing risk assessments
• Collaborate with portfolio managers on trade ideas and portfolio positioning
• Engage with traders on market dynamics, liquidity, new issue
• Track market trends, sector developments, and macroeconomic factors impacting credit markets
• Generate written research reports and present investment recommendations to the investment team
• Establish and maintain working relationships and dialogue with sell-side analysts, company management, industry experts and rating agencies
• Lead, mentor, and develop less seasoned credit analysts
• Partner with quantitative and technology teams to build and enhance research and analytics platforms
• Provide leveraged finance expertise across the firm and participate in cross-market strategies and trades

Benefits

• Competitive total cash compensation, based on AON (formerly McLagan) industry benchmarks
• Comprehensive benefits package
• Educational and training opportunities
• Tuition reimbursement
• Challenging work in a professional environment
• Hybrid work environment
• Relocation reimbursement to the Dane County area per our policy

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: No Education Listed
• Number of Employees: 101-250 employees