Securitized Portfolio Manager, VP II

State Street

. Manage securitized credit portfolios across agency and non-agency RMBS, CMBS, ABS, and CLOs .

Posted 5/22/2026full-timeBoston • Massachusetts • 🇺🇸 United StatesLead💰 $120,000 - $202,500 per yearWebsite

About the role

Key responsibilities & impact

Manage securitized credit portfolios across agency and non-agency RMBS, CMBS, ABS, and CLOs
Construct portfolios consistent with client objectives, risk budgets, and regulatory constraints
Implement investment strategies across yield, spread, and structure opportunities
Execute trades and manage positioning across primary and secondary markets
Conduct fundamental credit analysis of underlying collateral pools, issuers, and deal structures
Evaluate loan-level and pool-level performance dynamics, including default and loss expectations, prepayment and extension behavior, collateral quality, vintage, and underwriting characteristics
Analyze structural protections, triggers, and tranche behavior under baseline and stressed scenarios
Develop and maintain relative value assessments across sectors, shelves, vintages, and structures
Generate actionable investment ideas informed by both bottom-up credit work and market technicals
Generate relative value views across securitized sectors, structures, and capital stack positions
Analyze collateral performance, prepayment dynamics, credit trends, and macroeconomic drivers
Integrate top-down macro views with bottom-up security selection
Monitor and manage key risks including: spread duration and interest rate exposure, prepayment and extension risk, credit and structural risk (including tranche behavior), ensure portfolios remain aligned with established risk frameworks and guidelines
Partner closely with securitized research analysts, multi-sector PMs and asset allocation teams
Contribute to the ongoing development of research frameworks, models, and portfolio construction tools
Help drive integration of research insights into scalable portfolio decisions

Requirements

What you’ll need

A Master’s degree in finance, economics, mathematics, or other relevant field of study and or a CFA are preferred.
10 plus years of experience in fixed income portfolio management, with a focus on securitized products
Deep expertise across RMBS, CMBS, ABS and/or CLO markets
Credit Research background preferred

Benefits

Comp & perks

our retirement savings plan (401K) with company match
insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages
paid-time off including vacation, sick leave, short term disability, and family care responsibilities
access to our Employee Assistance Program
incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans)
eligibility for certain tax advantaged savings plans

ATS Keywords

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Applicant Tracking System Keywords

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Hard Skills & Tools

credit analysisportfolio managementinvestment strategiesrisk managementrelative value assessmentsstructural analysisperformance evaluationtradingmacroeconomic analysissecuritized products

Soft Skills

collaborationcommunicationanalytical thinkingproblem-solvingdecision-makingstrategic thinkingattention to detailadaptabilityleadershipresearch development

Certifications

CFAMaster’s degree in financeMaster’s degree in economicsMaster’s degree in mathematics