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Treasury Portfolio Manager

Treasury Portfolio Manager

ComericaFrisco, TX, US
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Portfolio Manager

The Portfolio Manager assists the Balance Sheet Manager in the oversight of up to $25 billion fixed income securities portfolio which is a major provider of liquidity and interest income to the overall balance sheet, up to $25 billion in interest rate risk hedges, and approx. $3 billion in pension plan assets. Responsible for all facets including but not limited to individual security and product type analysis utilized to formulate investment strategy, purchases and sales of multimillion-dollar securities, internal, external, and regulatory reporting, and portfolio maintenance on various software systems. Responsible for identifying new investment opportunities and assisting in the formulation of Comerica's investment strategy. Responsible for the execution and management of Comerica's balance sheet hedging program, as well as identifying appropriate hedging alternatives. Coordinating the work of the Investment Subcommittee and the asset management of various Comerica employee benefit plans.

Position Responsibilities

Portfolio / Asset Management

  • Evaluate, recommend and execute strategies for the effective management of Comerica's investment portfolio.
  • Prepare and present diversification and investment strategy presentations to senior management.
  • Utilize and maintain a wide variety of financial software systems to build and create investment strategy recommendations.
  • Identify new investment options for Comerica that might help better meet balance sheet needs and risk objectives.
  • Have working knowledge of investment options such as Treasuries, private label MBS, CMBS, ABS, and ability to articulate the risk / return characteristics of various investments.
  • Ability to communicate recommended strategies to provide higher income, stable market value, manage interest rate risk and liquidity risk, comply with various regulations, etc.
  • Monitor, communicate and adopt industry best practices, identify relevant portfolio themes in support of earnings announcements and investor interactions.
  • Recommend new solutions to enhance analytics, asset quality and compliance.

Hedging

  • Assist in the formulation and execution of Comerica's balance sheet hedging strategy with Asset Liquidity Committee (ALCO).
  • Advise on hedging alternatives, structures, pricing, market timing, relative value, peer bank strategies, etc.
  • Create interest rate swap structures for balance sheet hedging, debt hedging and to manage derivative hedging strategies for various types of wholesale deposits adherence.

    • Oversee analysts on team in management and monitoring of existing hedge portfolio.

    Executive Committee Communications and Reporting (Investment Portfolio and Reporting)

  • Provide market analysis and portfolio performance reporting on a weekly and monthly basis to senior management.
  • Manage and prepare reporting requirements for the Asset Liquidity Committee (ALCO), and financial reporting.
  • In support of FP&A and IR, provide forecast for the expected portfolio income, explain impact of various factors such as paydowns, new purchases, amortization expenses, collateral changes, portfolio growth / runoff, etc. to support earnings calls and releases as well as investor conference materials.
  • Perform and document Portfolio pricing and prepayment analysis.
  • Validate FAS 91 calculations and changes to portfolio book valuation.
  • Handle all internal and external audit requests and required documentation.
  • Assist in documentation and reporting of liquidity regulatory requirements and ALCO policy requirements.

    • Pension Plan and Post-Retiree Medical Plan Asset Management

  • Assist with external asset manager oversight of Comerica's approx. $3 billion Pension Plan. This includes management of billing fee accuracy and potential directions for rebalancing.
  • Manage Assets of Comerica's $20-30 mm Post Retiree Medical plan. Maintain assets according to regulatory mandates and evolve investment strategy as necessary.
  • Collaborate with investment managers.
  • Coordinate with HR and the Investment Subcommittee of Comerica regarding the Comerica.

    • Pension Plan

  • Work closely with external advisors and actuaries on investment strategies and analysis to ensure the assets in the Plan are managed in accordance with Investment Policy.
  • Review and approve analyst-drafted memo providing rationale for annual expected return of pension.

    • Repurchase and Fund Transfer Pricing (FTP) Management

  • Negotiate Master Repurchase agreements / contracts with various financial institutions; provide guidance to direct reports on negotiation best practices and collaborate with Legal, operations and external counterparties to execute repo trades providing bank liquidity.
  • Provide analysis and funds transfer pricing spread recommendations to FTP committee, advise LOBs on product pricing and structure as it relates to loans that are generally securitized and sold within various securities structures.

    • People Development

  • Use experience and knowledge to help develop team members' abilities.
  • Actively work with team members to constructively offer review and advice.
  • Direct workflow of team members within parameters of responsibility (e.g. trade execution, securities analysis).
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