Senior Fixed Income and Derivative Portfolio Manager

Key Responsibilities

• Independently execute daily borrowing, investing, or hedging activities.
• Enhance the Bank’s ability to execute trades in a timely manner.
• Identify relative value opportunities and maintain compliance with regulatory and Bank policies.
• Interact and communicate with all areas of the Bank, representing Treasury in Bank-wide initiatives, discussions, and committees.
• Cover all desk areas including derivatives, advances, treasuries, agencies, Fed funds, reverse repurchase agreements, mortgage structured products, municipals, and commercial mortgage‑back securities.
• Execute trading opportunities and manage risks across all desk areas, focusing on best execution, relative value, and risk/reward.
• Maintain a superior understanding of accounting rules (ASC 815), regulations, and Bank policies affecting trading strategies.
• Regularly interact with other Bank areas, the FHLB system, and broker dealers on trade‑related activities.
• Initiate discussions to design new strategic opportunities.
• Participate in decision making and implementation of strategic initiatives, working independently or with others to design analysis, resolve issues, and achieve goals.
• Operate within systems such as Bloomberg, Markit Wire, Trade Web, Bank Mate, Poly Paths, and/or Principia.
• Actively participate in committee meetings, providing effective presentation skills to non‑technical members.
• Serve as a first line of defense in identifying, communicating, assessing, and managing all portfolio risks: financial risk, Treasury operations, interest‑rate risk, and credit risk, and mitigate those risks.
• Ensure compliance with Bank regulation and policies related to Treasury functions.
• Partner with key internal stakeholders to align business goals and finance strategies.
• Prepare presentations for senior leadership and board members with insights into Treasury reports.
• Participate and collaborate with the team in internal and external Treasury audits.
• Provide informal mentorship and leadership to other team members.

• Bachelor’s degree in finance, economics, accounting, statistics, or a related field.
• Master’s degree in Business Administration (MBA) and/or Chartered Financial Analyst (CFA) designation preferred.
• Minimum of seven (7) years of investment experience.
• Extensive knowledge of the markets and understanding of finance, economics, accounting, investment, and banking principles and practices.
• Extensive knowledge of SQL, Bloomberg, Trade Web, Intex, Poly Paths, Principia, Sim Corp Dimension, and other analytical tools used in trading and analysis.
• Established investment contact network to assist in relative value ideas, trading, debt issuance, and other portfolio‑management activities.
• Documented track record of excellent trading capabilities.
• Advanced understanding of fixed‑income analysis, mortgage prepayment behavior, advance pricing and derivative pricing.
• Superior knowledge of liquidity‑management practices.
• Sound understanding of risk metrics, risk framework, and ALM (Asset Liability Management) practices.
• Excellent verbal and written communication and presentation skills.

Annual Salary: $ – $. The salary range reflects the Bank’s good‑faith estimate at the time of hire and will be determined by education, experience, skills, and internal equity. This role is eligible to participate in the Bank’s annual incentive plan.

Total Rewards include 11 paid holidays, 5 weeks of PTO, a work‑life balance culture, and a hybrid work schedule. 401(k) match: 100% of the first 6% contribution plus an additional 4% non‑discretionary contribution at year end.

FHLB Des Moines is proud to be an Equal Opportunity Employer. We prohibit discrimination on the basis of race, color, religion, sex (including pregnancy, sexual orientation or gender identity), national origin, age, disability, veteran status, genetic information (including family medical history), status as a parent, or any other characteristic protected by federal, state, or local law.