Portfolio Management Analyst - Fixed Income

Job Family

Investment Management

Job Description Summary

Supports institutional fixed income portfolio management through investment analysis, regulatory capital evaluation, and cross functional collaboration within an insurance general account framework.

Job Description

Responsibilities

• Build and maintain analytical models for asset selection, relative value assessment, spread analysis, cash flow projections, deployment planning, and scenario analysis.
• Conduct sector, issuer, and market research to support portfolio construction, rebalancing, and capital allocation decisions across liability-backed portfolios.
• Support medium-term plan development, strategic asset allocation execution, and deployment projections through data preparation, quantitative analysis, and presentation materials for senior leadership and board audiences.
• Monitor portfolio positioning against investment mandates and approved guidelines, track risk limit utilization and flag deviations from the strategic asset allocation framework.
• Assist in the preparation of investment memos, due diligence materials, and governance documentation for new and existing fixed income investments.
• Support identification, evaluation, and selection of external investment managers, including investment and operational due diligence, documentation review, track record analysis, and reference calls.
• Monitor external manager performance, attribution, and compliance with fund terms; maintain manager tracking tools and reporting dashboards.
• Develop working knowledge of insurance regulatory capital frameworks, including National Association of Insurance Commissioners (NAIC), risk-based capital, statutory accounting, International Financial Reporting Standards (IFRS) and General Accepted Accounting Principles (GAAP).
• Coordinate with actuarial, risk, accounting policy, and derivatives teams on investment approvals, pricing strategy inputs, cash flow testing, and governance requirements.
• Build and maintain portfolio analytics, dashboards, and tracking tools using Excel, Bloomberg (including BQL), Aladdin, Clearwater, and available data platforms. Contribute to process improvement and documentation initiatives.

Qualifications

• Bachelor’s degree in a quantitative discipline
• 1-2 years of relevant experience in fixed income investment analytics, insurance investments, or institutional asset management
• Experience in a front‑office investment role at a bank, hedge fund, asset management firm, or insurance company
• Proficient in Excel
• Experience using Bloomberg, BlackRock Aladdin, and Clearwater Analytics
• Strong analytical skills with the ability to translate analysis into clear, actionable recommendations

Preferred Qualifications

• Chartered Financial Analyst (CFA) or Associate of the Society of Actuaries (ASA) designation
• Understanding of insurance asset management and asset liability management concepts
• Familiarity with NAIC risk‑based capital, statutory accounting, GAAP, and IFRS considerations
• Working knowledge of fixed income analytics, including duration, option‑adjusted spread, yield metrics, convexity, liquidity, prepayments, and defaults
• Experience with general account investment assets, including fixed income securities, asset‑backed securities, and alternative investments
• Ability to query, join, and analyze large data sets to create repeatable analytical processes
• Some exposure to the use of AI to support research, process improvement, and efficiency

Working Conditions

• Office Environment
• Occasional Travel <10%
• Internal travel as needed

The Salary for this position generally ranges between $79,000 - $95,000 annually.Please note that the salary range is a good faith estimate for this position and actual starting pay is determined by several factors including qualifications, experience, geography, work location designation (in-office, hybrid, remote) and operational needs. Salary may vary above and below the stated amounts, as permitted by applicable law.

Additionally, this position is typically eligible for an Annual Bonus based on the Company Bonus Plan/Individual Performance and is at the Company’s discretion.

What We Offer

For eligible employees, we offer a comprehensive benefits package designed to support both the personal and financial well-being of our employees.

Compensation Benefits

• Competitive Pay

• Bonus for Eligible Employees

Benefits Package

• Pension Plan

• 401k Match

• Employee Stock Purchase Plan

• Tuition Reimbursement

• Disability Insurance

• Medical Insurance

• Dental Insurance

• Vision Insurance

• Employee Discounts

• Career Training & Development Opportunities

Health and Work/Life Balance Benefits

• Paid Time Off starting at 160 hours annually for employees in their first year of service.

• Ten (10) paid holidays per year (typically mirroring the New York Stock Exchange (NYSE) holidays).

• Be Well Company holistic wellness program, which includes Wellness Coaching and Reward Dollars

• Parental Leave – fifteen (15) days of paid parental leave per calendar year to eligible employees with at least one year of service at the time of birth, placement of an adopted child, or placement of a foster care child.

• Adoption Assistance

• Employee Assistance Program

• Back-Up Care Program

• PTO for Volunteer Hours

• Employee Matching Gifts Program

• Employee Resource Groups

• Inclusion and Diversity Programs

• Employee Recognition Program

• Referral Bonus Programs

Inclusion & Diversity

We believe our commitment to diversity and inclusion creates a work environment filled with exceptional individuals. We’re thrilled to have been recognized for our efforts through the Human Rights Campaign Corporate Equality Index, Dave Thomas Adoption Friendly Advocate, and several Seramount lists, including the Inclusion Index, 100 Best Companies for Working Parents, Best Companies for Dads, and Top 75 Companies for Executive Women.

To foster a culture of inclusivity throughout our workforce, workplace, and marketplace, Transamerica offers a wide range of diversity and inclusion programs. This includes our company-sponsored, employee-driven Employee Resource Groups (ERGs), which are formed around a shared interest or a common characteristic of diversity. ERGs are open to all employees. They provide a supportive environment to help us better appreciate our similarities and differences and understand how they benefit us all.

Giving Back

We believe our responsibilities extend beyond our corporate walls. That's why we created the Aegon Transamerica Foundation in 1994. Through a mix of financial grants and the volunteer efforts of our employees, the foundation supports nonprofit organizations focused on the things that matter most to our people in the communities where we live and work.

Transamerica’s Parent Company

Aegon acquired the Transamerica business in 1999. Since its start in 1844, Aegon has grown into an international company serving more than 23.9 million people across the globe.* It offers investment, protection, and retirement solutions, always with a clear purpose: Helping people live their best lives. As a leading global investor and employer, the company seeks to have a positive impact by addressing critical environmental and societal issues, with a focus on climate change and inclusion and diversity.

* As of December 31, 2023