Northern Trust
Municipal Bond - Senior Fixed Income Portfolio Manager
Northern Trust, Chicago, Illinois, United States, 60290
About Northern Trust:Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.Northern Trust is proud to provide innovative financial services and guidance to the world’s most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.Northern Trust Asset Management | Global Fixed IncomeMunicipal Bond - Senior Fixed Income Portfolio ManagerFixed Income – Municipal BondsAbout Northern Trust Asset ManagementWe are a premier asset management firm, focusing on delivering unique insights and superior risk adjusted returns in partnership with our clients.Who We AreWe measure success as achieving investors’ desired outcomes and delivering an exceptional client experience, rather than simply beating a benchmark. We work hard to provide clarity, to minimize complexity, to explain risk and to avoid unexpected surprises.We are client focusedWe have a clear mission: deliver superior investment performance and client service to our clients.We are intellectually curiousWe constantly search for “what we don’t know” – keeping an open mind to new ways of improving our investment process and interactions with our clients.We are always seeking diversity of thoughtWe work as a team that values diversity and inclusion. That extends to diversity of thought and open communication.We are collaboratorsWe foster a culture of collaboration in which we learn from and inspire one another. That collaboration extends to our clients where collaboration can lead to real problem solving.We are innovatorsWe have intentionally organized our global fixed income professionals around core competencies as it relates to sources of risk. A focus on core competency, with investors close to the ground, keeps us connected to market innovations as we maintain a foundational view of risk. This model creates flexibility – and when combined with our technology model, it allows us to be innovative in partnership with our clients.We are responsible investorsAs stewards of capital, we believe we have a responsibility to our clients to have an active understanding of the risks posed by non-financial risks. Our teams have access to a proprietary data model which enables them to evaluate a wide variety of applicable metrics across environmental, social and governance factors. We believe this is part of a comprehensive fundamental research process as well as an integral part of the risk management process. It can also be a source of alpha.Our CultureIn simple terms our culture can best be described as
empowerment with accountability .Our culture is based upon the power of the idea and not the source. It is disciplined and analytical, yet extremely challenging and collegial. We hold ourselves to a high standard of excellence and strive for complete transparency and open-dialogue in our interactions and decision making. Our investment process is the embodiment of our culture. Our assumptions need to be constantly “challenged with respect” and that only happens if we foster a meritocracy.Our research and portfolio management teams are fully integrated. We believe the combination of these skill sets and perspectives directly benefits our clients. The portfolio managers' skill set includes market knowledge of the structural and fundamental drivers of asset classes, sectors, and individual municipal credits acquired through years of experience and research. Our fundamental researchers provide a deeper analysis and examine risk and return opportunities across the entire capital structure while also incorporating non-financial risks into their analysis. Our quantitative researchers provide a complementary skill set in the form of higher-level quantitative and programming skills that are applied to the development and improvement of both our security selection and overall investment processes.The combination of these skills sets, combined with our macroeconomic research and scenario analysis, provides for a sophisticated, intuitive, and fundamental approach to making investment decisions. We have also built the proprietary systems and tools that allow our teams to adequately define and measure key risks – this forms the backbone of our investment process and is the “common language” we all speak. Importantly, it also allows risk management to be integrated into the investment process at every step. Put simply, we are all managers of risk.Lastly, these teams come together with our portfolio construction team to ensure that risks are taken prudently and efficiently – emphasizing intended risks and more importantly, eliminating unintended risk from the portfolios we manage. We are then further supported by a robust infrastructure of traders, operations, client service, and dedicated risk management and systems professionals who provide the framework upon which our investment skills are supported.About Your RoleThe successful candidate will be responsible for developing, directing, and executing investment strategy for Northern Trust’s municipal bond platform.You will drive the following responsibilities:Serve as portfolio manager and thought leader on municipal strategies within NTAM’s organizationMonitor and report on market and economic conditions, selection of appropriate investments, and structuring and executing transactionsAssists in the development of portfolio strategies through evaluation of the varying stimuli that affect the fixed income market, the shape of the yield curve, yield spreads, rating changes, and supply/demand factors.Plans overall portfolio structure utilizing security analytical information, economic factors, and bond market conditions in conjunction with the client's investment objectives.Analyze and report on the performance of the portfolios relative to their respective benchmarks, including risk-adjusted returns vs. the objective, performance attribution, and expected and actual tracking error and any other factors deemed appropriateWork in close coordination and partnership with all global fixed income staffEstablish and maintain professional contacts within the Fixed Income industry to further develop market knowledge and expertiseContribute to team’s disciplined investment philosophy and new product development effortsEngage with our most sophisticated clients for new business and existing relationshipsThe Minimum Qualifications We Find ValuableAt least 10 years of active fixed income portfolio management experience, mostly in municipalsExperience in managing funds and/or high yield municipal portfolio management preferredMunicipal fundamental credit knowledge requiredA demonstrated 1-3-5 year investment track recordKnowledge of economic principles and trends, various markets and the roles of various industry participants, and management techniques related to retail and institutional portfolios, including risk management, monitoring, and reportingAbility to communicate product portfolio features and articulate investment philosophy and process, portfolio holdings and the rationale behind portfolio constructionA long-term, disciplined investment philosophy but also a creative thinker who prides him/herself on independent thinking and uncovering hidden opportunitiesStrong quantitative, financial analysis and problem-solving skillsStrong communication and presentation skillsSuperior interpersonal skillsProficiency in Excel and BloombergBehavioral CompetenciesCollaborative and team-orientedRespectful of others and the collective goals of the Municipals team and Global Fixed Income group overallAbility to demonstrate investment credibilityA keen passion for his/her work, matched with a high level of intellect, curiosity, humility, drive, and energyResult-oriented, focus on quality delivery, determination, and confidence to succeedSelf-taught, intellectually curious, confident, high-conviction, ability to think on his/her feetUnquestionable professional integrity and ethicsEDUCATIONA Bachelor’s degree in Finance or related discipline. Masters’ Degree/MBA or industry certifications (CFA, CAIA etc.) preferred.Working with Us:As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.We’d love to learn more about how your interests and experience could be a fit with one of the world’s most admired and sustainable companies! Build your career with us and apply today. #MadeForGreaterReasonable accommodationNorthern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at
MyHRHelp@ntrs.com .We hope you’re excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.Apply today and talk to us about your flexible working requirements and together we can achieve greater.
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empowerment with accountability .Our culture is based upon the power of the idea and not the source. It is disciplined and analytical, yet extremely challenging and collegial. We hold ourselves to a high standard of excellence and strive for complete transparency and open-dialogue in our interactions and decision making. Our investment process is the embodiment of our culture. Our assumptions need to be constantly “challenged with respect” and that only happens if we foster a meritocracy.Our research and portfolio management teams are fully integrated. We believe the combination of these skill sets and perspectives directly benefits our clients. The portfolio managers' skill set includes market knowledge of the structural and fundamental drivers of asset classes, sectors, and individual municipal credits acquired through years of experience and research. Our fundamental researchers provide a deeper analysis and examine risk and return opportunities across the entire capital structure while also incorporating non-financial risks into their analysis. Our quantitative researchers provide a complementary skill set in the form of higher-level quantitative and programming skills that are applied to the development and improvement of both our security selection and overall investment processes.The combination of these skills sets, combined with our macroeconomic research and scenario analysis, provides for a sophisticated, intuitive, and fundamental approach to making investment decisions. We have also built the proprietary systems and tools that allow our teams to adequately define and measure key risks – this forms the backbone of our investment process and is the “common language” we all speak. Importantly, it also allows risk management to be integrated into the investment process at every step. Put simply, we are all managers of risk.Lastly, these teams come together with our portfolio construction team to ensure that risks are taken prudently and efficiently – emphasizing intended risks and more importantly, eliminating unintended risk from the portfolios we manage. We are then further supported by a robust infrastructure of traders, operations, client service, and dedicated risk management and systems professionals who provide the framework upon which our investment skills are supported.About Your RoleThe successful candidate will be responsible for developing, directing, and executing investment strategy for Northern Trust’s municipal bond platform.You will drive the following responsibilities:Serve as portfolio manager and thought leader on municipal strategies within NTAM’s organizationMonitor and report on market and economic conditions, selection of appropriate investments, and structuring and executing transactionsAssists in the development of portfolio strategies through evaluation of the varying stimuli that affect the fixed income market, the shape of the yield curve, yield spreads, rating changes, and supply/demand factors.Plans overall portfolio structure utilizing security analytical information, economic factors, and bond market conditions in conjunction with the client's investment objectives.Analyze and report on the performance of the portfolios relative to their respective benchmarks, including risk-adjusted returns vs. the objective, performance attribution, and expected and actual tracking error and any other factors deemed appropriateWork in close coordination and partnership with all global fixed income staffEstablish and maintain professional contacts within the Fixed Income industry to further develop market knowledge and expertiseContribute to team’s disciplined investment philosophy and new product development effortsEngage with our most sophisticated clients for new business and existing relationshipsThe Minimum Qualifications We Find ValuableAt least 10 years of active fixed income portfolio management experience, mostly in municipalsExperience in managing funds and/or high yield municipal portfolio management preferredMunicipal fundamental credit knowledge requiredA demonstrated 1-3-5 year investment track recordKnowledge of economic principles and trends, various markets and the roles of various industry participants, and management techniques related to retail and institutional portfolios, including risk management, monitoring, and reportingAbility to communicate product portfolio features and articulate investment philosophy and process, portfolio holdings and the rationale behind portfolio constructionA long-term, disciplined investment philosophy but also a creative thinker who prides him/herself on independent thinking and uncovering hidden opportunitiesStrong quantitative, financial analysis and problem-solving skillsStrong communication and presentation skillsSuperior interpersonal skillsProficiency in Excel and BloombergBehavioral CompetenciesCollaborative and team-orientedRespectful of others and the collective goals of the Municipals team and Global Fixed Income group overallAbility to demonstrate investment credibilityA keen passion for his/her work, matched with a high level of intellect, curiosity, humility, drive, and energyResult-oriented, focus on quality delivery, determination, and confidence to succeedSelf-taught, intellectually curious, confident, high-conviction, ability to think on his/her feetUnquestionable professional integrity and ethicsEDUCATIONA Bachelor’s degree in Finance or related discipline. Masters’ Degree/MBA or industry certifications (CFA, CAIA etc.) preferred.Working with Us:As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.We’d love to learn more about how your interests and experience could be a fit with one of the world’s most admired and sustainable companies! Build your career with us and apply today. #MadeForGreaterReasonable accommodationNorthern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at
MyHRHelp@ntrs.com .We hope you’re excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.Apply today and talk to us about your flexible working requirements and together we can achieve greater.
#J-18808-Ljbffr