Description
This recruitment will remain open until filled, and it is in the candidate’s best interest to apply early.
The Washington State Investment Board (WSIB) is a dedicated global investment management organization with over $234.1 billion in assets under management. The WSIB's globally diversified portfolios are comprised of more than 17,000 holdings across 91 countries on 6 continents and in 50 currencies. The WSIB's central mandate is to maximize return at a prudent level of risk. The WSIB manages investments for 18 retirement plans for public employees, teachers, school employees, law enforcement officers, firefighters, and judges. We also manage investments for several other important public funds that benefit Washington’s industrial insurance program, colleges and universities, and developmental disability programs. The WSIB’s excellent investment performance dramatically contributes to the state’s bottom line.
To learn more about our organization and the work we do, please visit our website at sib.wa.gov and follow us on LinkedIn.
The WSIB operates in a hybrid work environment, and this position should anticipate 60% of their time in the Olympia office.
The WSIB is seeking a qualified candidate to join our Fixed Income team as an Investment Officer (IO) reporting to the Assistant Senior Investment Officer (ASIO). This is an opportunity to join a globally recognized investment management organization. The primary objective of IO – Fixed Income is the prudent and productive management of the entrusted funds allocated to Fixed Income in a manner consistent with statutes, regulations, Board policies, and the highest standard of professional conduct for the exclusive benefit of fund beneficiaries.
The ideal candidate brings strong credit analysis skills, sound judgment, and a disciplined investment mindset. They are intellectually curious, comfortable forming independent views, able to communicate those views clearly, and work well independently. They also are collaborative, team oriented, and demonstrate integrity in all decisions.
IF SELECTED FOR THIS OPPORTUNITY, YOU WILL:
Perform in-depth credit analysis and make buy, hold, or sell recommendations on companies in the utilities, energy, and chemicals sectors across investment grade, high yield, and emerging markets asset classes.
Analyze and evaluate primary issuance daily and make timely recommendations from fundamental and relative value perspectives.
Evaluate secondary opportunities to add value to the portfolios.
Monitor the credit quality of existing holdings; identify companies that have improving, stable or deteriorating fundamentals, and communicate these views to the Senior Investment Officer (SIO) and ASIO on a timely basis.
Monitor, analyze, and evaluate company and industry developments, credit risks, and opportunities affecting the utilities, energy, and chemical sectors.
Analyze macro and microeconomic factors affecting the utilities, energy and chemical sectors.
Utilize resources including Bloomberg, the internet, investment banks, news outlets, independent sources, rating agencies, issuers, and conference calls for research.
Prepare and deliver written and verbal analyses to support investment views and communicate complex information clearly to the SIO and ASIO on a timely basis.
Collaborate with the SIO and ASIO while also working independently to meet deadlines and manage priorities.
Keep abreast of changes in fixed income and overall capital markets, and developments in investment principles and methods.
Perform additional duties as required to support the fixed income team and broader WSIB objectives.
Requirements
COMPETITIVE APPLICANTS WILL HAVE:
Bachelor’s degree in finance, economics, business, or a related field.
Four years of fixed income investment experience in areas such as company analysis, industry analysis, portfolio management, or economic analysis. A relevant Master’s degree or Chartered Financial Analyst (CFA) designation may substitute for up to two years of required experience.
Experience may not include managing your personal portfolio.
Experience analyzing corporate credits in the utilities, energy and chemical sectors. Applicant must be able to:Understand relevant factors affecting the industries and integrate developments into company evaluations.
Evaluate corporate fundamentals and relative values across issuers and sectors.
Analyze companies in emerging markets.
Strong analytical and research skills including financial statement analysis, cash flow modeling, covenant review, capital structure assessment, and qualitative analysis to form independent and successful investment recommendations.
Demonstrated ability to evaluate complex investment grade, emerging market, and high yield credit instruments.
An understanding of fixed income markets and fixed income portfolio management.
Demonstrated ability to communicate verbally and in written form complex information and investment views.
Strong collaboration skills in working closely with the SIO and ASIO.
Proficiency using Bloomberg, Excel, Word, and Artificial Intelligence tools to support analysis and recommendations.
A track record of managing competing priorities and meeting deadlines in a fast-paced environment.
THE STRONGEST APPLICANT WILL HAVE:
Deep expertise in the utilities, energy, and chemicals sectors, including knowledge of industry drivers, regulatory considerations, and company-specific risk factors.
Experience evaluating investment grade, emerging market, and high yield credit instruments across market cycles.
Demonstrated ability to independently generate high-quality investment recommendations supported by rigorous analysis.
A CFA charter or relevant graduate degree.
A proven track record of producing clear and concise reports, and actionable investment recommendations that contribute to the portfolios’ total returns.
If your experience or qualifications look different from what we have identified and you think you can be successful in this position, please address this in your cover letter.
Supplemental Information
In addition to a complete profile, please include:
A cover letter specifying why this position is of interest to you and how you meet the qualifications listed above. This letter should be no more than two pages.
A current chronological resume.
An example of work analyzing a company from a credit investor perspective.
