Financial Institutions Group, Fixed Income Portfolio Manager (AUD/NZD), Associate

BlackRock's Fixed Income team manages over $1 trillion in global fixed income assets. The Financial Institutions Group is seeking a junior Portfolio Manager in Sydney, Australia, to manage AUD/NZD denominated portfolios. Responsibilities include monitoring portfolio positioning, ensuring compliance, raising orders, liaising with partner teams, and contributing to alpha generation through analytical work and research. The role involves daily market screening, trade implementation, and portfolio management tasks, with a focus on fixed income modeling and understanding solvency capital requirements.

Must Have

• Work as part of the FIG Portfolio Management Team in Sydney, covering AUD and NZD portfolios.
• Perform analytical work with a focus on fixed income modelling (relative value, carry & roll down, book yield, duration & curve).
• Understand and calculate solvency capital requirements for insurance portfolios and local regulatory requirements (APRA GPS120).
• Produce in-depth original research for investment purposes.
• Develop bottom-up knowledge of issuers and liaise with the credit research team.
• Conduct daily market screening of primary and secondary offers, suggesting and implementing trades.
• Monitor selected portfolios daily, including setup, evaluation, execution, and management of investments.
• Prepare presentations for clients and internal purposes.
• Coordinate with credit research, trading desk, trade operations, RQA, and client relationship teams.
• Minimum 3 years of experience and knowledge of Fixed Income markets.
• Possess fixed income and general finance knowledge, including bond math and risk.
• Ability to learn fixed income markets, including complexities of different issue types, liquidity, and trading.
• Ability to grasp quantitative concepts of risk and exposure and their application to portfolio management.
• Strong problem-solving skills and attention to detail.
• Proactive with a desire to learn and take on responsibility.
• Strong interpersonal skills, work ethic, and leadership.

Good to Have

• Experience in capital markets.
• Advanced Excel skills.
• Aladdin proficiency.
• SQL programming experience.
• VBA programming experience.
• Python programming experience.
• Ability to adapt quickly to changing market environments.
• Ability to perform under tight time constraints.

Perks & Benefits

• Strong retirement plan
• Tuition reimbursement
• Comprehensive healthcare
• Support for working parents
• Flexible Time Off (FTO)
• Pay-for-performance philosophy (base salary and discretionary annual bonus)
• Employee Assistance Program
• Network of Mental Health Ambassadors
• Parental leave

Overview of Investment Professional roles

Our investment professionals thrive in a culture that pushes them to question the status quo, overdeliver for clients, and work together to shape the future of the industry. At BlackRock, you’ll forge meaningful relationships within your team and across the firm – expanding your network as you tackle complex challenges with a collaborative approach, integrated research and risk management. In an environment that feels welcoming and inclusive, you’ll discover opportunities to hone your skills, develop new expertise, gain mentorship, and build the investment career you envision.

Job description

About this role

BlackRock’s Fixed Income team runs more than $1 trillion in global fixed income assets across index, active long-only, alternative, and liability driven strategies. The platform offers fixed income investors one of the industry's broadest array of investment choices across model-based and fundamental investment styles.

The Financial Institutions Group is seeking a candidate to join the team as a junior Portfolio Manager in Sydney, Australia working on AUD/NZD denominated portfolios. The FIG team manages a wide range of Fixed Income portfolios for financial institutions, including $12bn in AUD/NZD denominated portfolios. The successful candidate will work with the Lead PM to support the day-to-day management of the portfolios. This will include monitoring portfolio positioning (including cash, risk levels and compliance with investment guidelines), ensuring consistency across portfolios, raising orders on portfolios, and liaising with our partner teams (like credit research, risk and trading) on the portfolios. The candidate will also be expected to contribute to alpha, yield, and idea generation by providing assistance throughout the life cycle of an investment and its implementation in portfolios.

Job description

• Work as part of the FIG Portfolio Management Team based in Sydney, covering AUD and NZD denominated portfolios and assets.
• Analytical work with a focus on fixed income modelling such as: relative value, carry & roll down, book yield, duration & curve etc.
• Understanding and calculation of solvency capital requirements for insurance portfolios and local regulatory requirements such as APRA GPS120.
• Research: ability to produce in depth original research for investment purposes as required by clients and the wider team.
• Develop bottom-up knowledge of the issuers we invest understanding the fundamental credit research process and liaising with the credit research team.
• Daily market screening of primary and secondary offers, suggesting and implementing trades based on fundamentals and technical factors.
• Portfolio management: daily monitoring of selected portfolios, including setup, ongoing evaluation, execution, and management of investments through new issue and secondary market transactions. In-depth knowledge of the mandates (including guidelines and investment objectives), performance assessment (total return, book yield alpha) .
• Preparation of presentations both for clients’ benefit and for internal purposes, assist on new opportunities.
• Coordination with other teams and build strong working partnership: primarily but not limited to credit research, trading desk, trade operations, RQA and client relationship team.
• Coding: maintain and develop Python code to support portfolio management activities in the effort to create scalable and robust processes.

Qualifications

• Minimum 3 years of experience and knowledge of Fixed Income markets strongly desired with experience in capital markets
• Fixed income and general finance knowledge, including an understanding of bond math and risk.
• Ability to learn fixed income markets, including complexities of different issue types, liquidity, and trading.
• Ability to grasp quantitative concepts of risk and exposure, and their application to portfolio management.
• Technical skills including advanced Excel, Aladdin and SQL/VBA/Python programming experience a strong plus.
• Ability to adapt quickly to changing market environments and perform under tight time constraints.
• Strong problem-solving skills and attention to detail.
• Proactive individual with a desire to learn and take on responsibility.
• Strong interpersonal skills, work ethic and leadership

Our benefits

To help you stay energized, engaged and inspired, we offer a wide range of benefits including a strong retirement plan, tuition reimbursement, comprehensive healthcare, support for working parents and Flexible Time Off (FTO) so you can relax, recharge and be there for the people you care about.

Our hybrid work model

BlackRock’s hybrid work model is designed to enable a culture of collaboration and apprenticeship that enriches the experience of our employees, while supporting flexibility for all. Employees are currently required to work at least 4 days in the office per week, with the flexibility to work from home 1 day a week. Some business groups may require more time in the office due to their roles and responsibilities. We remain focused on increasing the impactful moments that arise when we work together in person – aligned with our commitment to performance and innovation. As a new joiner, you can count on this hybrid model to accelerate your learning and onboarding experience here at BlackRock.

About BlackRock

At BlackRock, we are all connected by one mission: to help more and more people experience financial well-being. Our clients, and the people they serve, are saving for retirement, paying for their children’s educations, buying homes and starting businesses. Their investments also help to strengthen the global economy: support businesses small and large; finance infrastructure projects that connect and power cities; and facilitate innovations that drive progress.

This mission would not be possible without our smartest investment – the one we make in our employees. It’s why we’re dedicated to creating an environment where our colleagues feel welcomed, valued and supported with networks, benefits and development opportunities to help them thrive.

For additional information on BlackRock, please visit @blackrock | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock

BlackRock is proud to be an Equal Opportunity Employer. We evaluate qualified applicants without regard to age, disability, family status, gender identity, race, religion, sex, sexual orientation and other protected attributes at law.

BlackRock Principles

We look to hire people that will embody our BlackRock Principles:

• We are a fiduciary to our clients.

This is the bedrock of our identity; it reflects our integrity and the unbiased advice we give our clients.

• We are One BlackRock.

We work collaboratively to create the best outcomes for our clients, our firm and the communities where we operate.

• We are passionate about performance.

We are relentless in innovating and finding better ways to serve our clients and improve our firm.

• We take emotional ownership.

We have a deep sense of responsibility to our clients and to each other.

• We are committed to a better future.

We are long-term thinkers, focused on helping people build a better tomorrow.

Career path

Our people drive our business forward every day. That's why we're committed to helping you build an extraordinary career at the firm. In addition to supporting your vertical growth along corporate titles, we’ll help you expand your horizons across the firm – with opportunities to collaborate with unexpected colleagues, take on unique assignments outside of your regular business, and even move internally within BlackRock.

• Analyst
• Associate
• Vice President
• Director
• Managing Director
• Senior Managing Director

Benefits

We care about your overall well-being and design our benefits package to support you in various aspects of your life.

Financial well-being

We offer resources designed to help you build a sound financial future for you and your family, like retirement savings plans and tuition reimbursement.

Pay for performance

Our pay-for-performance philosophy includes a base salary and a discretionary annual bonus.

Physical well-being

Our healthcare plans and resources help you focus on your physical health, so you and your family can feel your best.

Emotional well-being

We support our people's mental health and emotional well-being by providing access to an Employee Assistance Program and a network of Mental Health Ambassadors.

Life management

You'll be able to focus on moments that are important to you with benefits designed to support life in and outside of work with Flexible Time Off, parental leave and more.