National Association of State Retirement Administrators

Position Information

Portfolio Manager of Internal Fixed Income
The North Dakota Retirement and Investment Office (RIO) is a global institutional investor with investment portfolios of more than $21 billion.   RIO is governed by the State Investment Board (SIB) which is responsible for the investment of the assets of the several state funds. The funds managed by RIO include the Legacy sovereign wealth fund, pension funds including the Public Employee’s Retirement Plan and the Teacher’s Fund for Retirement, and the Worker’s Safety and Insurance Fund. The SIB may provide investment management services to, and manage the money of, any agency, institution, or political subdivision of the state, subject to agreement with the Industrial Commission.  

At RIO, we are driven by our values of integrity, accountability, and service in fulfillment of our investment and fiduciary responsibilities. Our investment team is seeking an experienced and driven Portfolio Manager of Internal Fixed Income to play a contributing part in ensuring RIO fulfills its mission, vision, and values.

This key role will lead portfolio strategy, internal management and trading of an intermediate government/credit internal enhanced index portfolio, model portfolio implementation, ETF portfolios, derivative overlays, collateral portfolios, and liquidity optimization as well as other active future fixed income mandates that may include securitized investments.  With respect to the total portfolio overlays, the position will oversee the management and trading of derivatives portfolios designed to rebalance and maintain each pool’s total portfolio level target exposures for fixed income risk. 

The Portfolio Manager of Internal Fixed Income will partner with the investment team to optimize investment performance.  The position will help to develop investment strategies for pension funds, an endowment structure, and insurance trusts.  The internal fixed income organization is new for the North Dakota Retirement and Investment Office, and this role will be responsible for crafting the internal fixed income strategy, building its team over time and its implementation.
Position: Portfolio Manager of Internal Fixed Income
Organization: ND Retirement & Investment Office
Location: Bismarck,  ND 
United States
Salary: $180,000-$210,000 annually. This role may be eligible for discretionary compensation plan based on performance.
Posting Start Date: 6/17/2024
Date Posted: 6/17/2024
Requirements To thrive in this position, you must be an experienced and collaborative investment leader with strong organizational and managerial skills to lead a high performing, engaged team. Effective communication and collaboration with stakeholders and public and private organizations are essential for this position. 

You’ll need to have: 
  • Bachelor’s degree in accounting, economics, finance, mathematics, or business (with an emphasis in investments, economics, finance, accounting, or related investment content), or a closely related field from an accredited college or university. 
  • 8+ years of relevant experience working in a similar fixed income portfolio investment role. The candidate should have a background in fixed income portfolio management and investment; other quantitative and risk management investment experience is preferred.  
Note: Equivalent combinations of education and experience may also be considered. 

We’d love to see: 
  • Effective oral, written, and interpersonal communication skills 
  • A sophisticated understanding of investment vehicles, investment statistics/metrics, portfolio theory, capital markets and the investment process
  • Experience working for an entity (e.g. public agency or private corporation) that has a major investment program 
  • A high degree of proficiency with windows-based software for word processing, spreadsheets, quantitative tools such as python programming language, risk and performance systems and concepts, and database management
  • Advanced excel skills
  • Experience utilizing investment related software 
  • CFA and other investment related credentials
Application Procedures:

Apply online at Applicants must submit a completed online application, resume, and cover letter by the closing date to be considered for this position. The cover letter must include a detailed summary of how the applicant meets the qualifications of this position.

Applicants must be legally authorized to work in the United States.
A criminal history record check, including fingerprinting, will be conducted on the successful candidate prior to hiring per NDCC 12-60-24.

Please contact Scott Anderson, Chief Investment Officer at (701) 328-9889 for questions about the role or Hope Wedul at (701) 328-3357 for questions or assistance in the application process. 

Status: This listing expires on: 8/16/2024
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Organization Information
ND Retirement & Investment Office
PO Box 7100

Bismarck,  ND 58507-7100
United States
Missy Kopp