Structured Credit Portfolio Manager

Key Responsibilities

• Investment Execution
  Source, evaluate and execute investments across structured credit and other treasury assets, with a focus on CLOs, RMBS and ABS.
• Negotiate allocations in primary issuance and identify and execute secondary-market opportunities.
• Achieve and demonstrate best execution, with a clear view of liquidity and execution strategy for each trade.
• Build relationships with sell-side trading desks, securitisation issuers and CLO managers to source opportunities for the Bank.
• Conduct manager and deal due diligence, including fundamental credit analysis of collateral, structural protections and CLO managers, assess the risk and return of each opportunity, and prepare trade rationales.
• Ensure all investments comply with eligibility, capital and liquidity requirements.

• Hold personal investment mandate for day-to-day management of the Bank's expanding £4bn+ portfolio.
• Monitor positions, P&L, risk metrics and early warning indicators across the book.
• Maintain accurate investment MI for Treasury Committee and ALCO.
• Drive continuous improvement of investment processes, data, technology and controls as the book and regulation evolve.
• Lead portfolio construction, security selection and sector allocation, proactively recommending adjustments to optimise risk/return and helping shape the portfolio's growth trajectory.

• Manage the FX and interest rate risk arising from the investment portfolio, executing swaps, cross-currency swaps and FX forwards as needed.
• Ensure hedging activity remains within Board-approved risk appetite and regulatory expectations as the book scales.

Skills, Knowledge & Expertise

• Front-office experience in portfolio management, treasury dealing or structured credit trading/analysis.
• Proven track record of portfolio construction, security selection and executing investments in structured credit instruments (e.g. CLOs, RMBS, ABS) or comparable asset classes.
• Strong understanding of CLO documentation, leveraged loans and CLO managers, and of the structures, collateral and cash-flow dynamics of European RMBS and ABS.
• Ability to assess and articulate the risk/return of an investment opportunity and build a clear trade rationale.
• Experience using Bloomberg and treasury management systems (e.g. MORS).
• Analytical and commercially minded, with strong attention to detail.
• Clear communicator who can work cross-functionally and influence senior stakeholders.
• Comfortable operating in a fast-growing challenger bank with evolving structures.

• Understanding of FX and interest rate hedging, including cross-currency swaps.
• Familiarity with regulatory frameworks (CRR, PRA Rulebook, Basel standards, UK Securitisation Rules) as they apply to structured credit and derivatives.

Job Benefits

• Competitive salary
• 25 days holiday PLUS your BIRTHDAY off
• Pension contribution with Royal London
• Life Assurance
• Private medical, dental and optical health insurance with
• Axa
• Hybrid working
• Free breakfast available