Senior MBS Portfolio Manager (Senior Portfolio Officer)
Organization:
World Bank Group
Term Duration:
3 years 0 months
Recruitment Type:
International Recruitment
Location:
Washington, DC,United States
Required Language(s):
English
Closing Date:
9/2/2026 (MM/DD/YYYY) at 11:59pm UTC
Description
Build a career with impact. Working at the World Bank Group (WBG) provides a unique opportunity to help countries solve their greatest development challenges. As one of the largest sources of funding and knowledge for developing countries, the WBG is a unique partnership of five global institutions dedicated to ending poverty, increasing shared prosperity, and promoting sustainable development. With 189 member countries and more than 120 offices worldwide, the WBG works with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges.
The World Bank Group (WBG) Treasury
WBG Treasury is the Vice Presidency (VPU), reporting to the Managing Director and World Bank Group Chief Financial Officer, performing treasury functions for the IBRD, IDA and IFC and, to varying degrees, other members of the World Bank Group and other public and private sector entities. Its activities are organized and grouped into the following divisions: Capital Markets; Asset Management; Client Solutions & Structuring; Treasury Operations; Treasury Partnerships & Advisory; and Treasury Risk, Compliance & Controls. Treasury has been a large and significant participant in the international financial markets for over eighty years and has achieved a global reputation as a prudent and innovative borrower, investor, and risk manager. Treasury is responsible for: (i) managing approximately $300 billion in assets for the World Bank Group and other official sector investors; (ii) leading IBRD's, IDA's and IFC’s triple-A rated financing programs in international and domestic bond and derivative markets; (iii) conducting asset and liability management for IBRD's, IDA’s and IFC's balance sheets; (iv) overseeing the development and outreach related to the financing and hedging products the WBG provides for its developing-country clients; and (v) collaborating with the World Bank member countries to help build their financial markets related capacity through advisory services. Staff in Treasury regularly interact and work with other Departments across the Bank and IFC finance, operations, and investment teams.
The WBG Asset Management Department
The Asset Management Department manages over $300 billion in liquid asset portfolios for World Bank Group entities — IBRD, IDA, IFC, and MIGA — as well as public sector asset managers, Reserve Advisory & Management Partnership (RAMP) clients, trust funds, and Financial Intermediary Funds. It also leads global strategic capital markets development initiatives. The department consists of the following five teams:
Client Asset Management (TREAM) – Manages over $100 billion in assets, including liquidity and fixed-income portfolios for Trust Funds, RAMP clients, and other institutions. The team develops investment strategies, provides advisory services, and integrates ESG considerations into investment processes.
Securitized Products (TRELM) – Manages and trades structured fixed-income assets, including asset-backed and mortgage-backed securities, to enhance returns and diversify risk across WBG and client portfolios.
Cash and Liquidity Management (TRECL) – Oversees liquidity across currencies and entities, ensuring the WBG can meet financial obligations while supporting its AAA credit rating and minimizing funding costs.
Liquid Assets Management (TREIL) – Invests funds supporting WBG lending activities, focusing on capital preservation, liquidity, and prudent risk-adjusted returns through high-quality investments.
Capital Markets Development (TRECD) – Supports the development of local capital markets through advisory services, market infrastructure improvements, regulatory reforms, and local currency financing initiatives.
Duties and Accountabilities:
The Senior Portfolio Manager will be part of the Agency MBS team and report to the team head within the Securitized Products Unit, under the unit's manager. The role requires independent judgment in managing Agency MBS portfolios, including responsibility for risk positioning, portfolio construction, and best execution of investment decisions within approved guidelines. The Senior Portfolio Manager will help manage client portfolios predominantly benchmarked to the Bloomberg Agency MBS Index and support education and professional development assistance to client institutions through analytical reporting, training, market updates, and participation in seminars organized by TRE in the USA and internationally.
Lead or contribute to investment policy implementation, portfolio construction, and active risk positioning for fixed-income portfolios benchmarked to an agency MBS index, consistent with investment objectives, risk tolerance, and applicable asset and/or asset-liability management frameworks.- Provide expertise in investment policy, asset allocation, best practices, market strategy and outlook, and portfolio and performance reviews.
- Generate and implement high-conviction investment ideas across Agency MBS sectors, with a primary focus on specified pools, taking accountability for position sizing, relative value expression, and risk-adjusted performance.
- Exercise sound judgment in assuming and managing duration, spread, convexity, and liquidity risks within budgeted guidelines, including the ability to make timely decisions under uncertainty and adjust exposures as market conditions evolve.
- Monitor portfolio risk exposures and performance drivers on an ongoing basis, ensuring that active positions are deliberate, well-calibrated, and aligned with approved risk budgets and client objectives and constraints.
- Coach and train junior-level staff supporting the Agency MBS business.
- Leverage and help develop technology and analytics to enhance trading execution, risk management, and investment decision-making.
- Provide timely updates to internal and external stakeholders regarding MBS market developments, investment themes, trading opportunities, and regulatory changes.
- Collaborate across TRE teams to strengthen risk management, performance attribution, and related investment processes for Agency MBS portfolios.
- Strengthen relationships with industry participants, federal mortgage agencies, and dealer counterparties, as well as partner with legal and credit teams to expand MBS trading relationships as appropriate.
- Lead and/or participate in professional collaboration with official sector reserves managers of member countries, other official sector institutions, and TRE business partners through on-site missions, technical advisory engagements, workshops, client meetings, and oversight of internship programs.
- Contribute to additional projects as needed within the department.
Selection Criteria
- Master’s degree in business, finance, economics, mathematics, statistics, or a related field, with substantial relevant experience in fixed income and securitized products asset management, including a minimum of eight years of experience managing Agency MBS portfolios. CFA or similar professional certification is a plus.
- Demonstrated strategic investment insight, trading perspective, and research expertise across benchmarked strategies involving Agency MBS and other structured products, with the ability to identify market opportunities and translate views into portfolio decisions.
- Deep expertise in Agency MBS and broader securitized products markets, including securitized credit, supported by strong knowledge of global fixed income markets and instruments, including money markets, government bonds, interest-rate futures, supranationals, sovereigns, and agencies (SSAs), and OTC interest-rate derivatives.
- Demonstrated experience managing portfolio risk through thoughtful risk allocation, disciplined position sizing, and attribution of performance to underlying risk factors, with the ability to make timely decisions under uncertainty.
- Strong analytical, quantitative, and modeling skills, including experience analyzing or modeling Agency MBS and other securitized products. Familiarity with tools and systems supporting trading, portfolio management, and risk oversight is essential.
- Independent and agile thinker with strong initiative, sound business judgment, and the ability to operate decisively and effectively in a fast-moving market environment.
- Excellent communication skills, both verbal and written, with experience presenting market views, investment recommendations, and technical material credibly to a broad range of internal and external audiences.
- Strong interpersonal and stakeholder management skills, with the ability to collaborate effectively across multidisciplinary teams and build productive relationships with clients, counterparties, and internal business partners in a multicultural environment.
- Demonstrated ability to develop and mentor junior staff professionally and contribute positively to team development and knowledge sharing.
- Demonstrated commitment to ethical and professional conduct consistent with the CFA Institute Code of Ethics and Standards of Professional Conduct, including integrity, objectivity, diligence, and adherence to applicable laws and professional obligations.
- Proficiency in additional languages is an advantage.
WBG Culture Attributes:
1. Sense of urgency: Anticipate and quickly respond to the needs of internal and external stakeholders.
2. Thoughtful risk-taking: Challenge the status quo and push boundaries to achieve greater impact.
3. Empowerment and accountability: Empower yourself and others to act and hold each other accountable for results.
World Bank Group Core Competencies
The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.
We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.
Learn more about working at the World Bank and IFC including our values and inspiring stories.
