Structured Credit Portfolio Manager

Description

As a Structured Credit Portfolio Manager you will hold your own investment mandate for the Bank's £4bn+ treasury investment portfolio, sourcing, evaluating and executing investments across structured credit and other high-quality liquid assets, including CLOs, RMBS, ABS, SSA, covered bonds and gilts. The role carries responsibility for portfolio construction and investment appraisal, assessing the risk and return of each opportunity, and for building out the portfolio in line with the Bank's risk appetite and regulatory standards, including the UK Securitisation Rules. As well as manage the FX and interest rate risk arising from the investment book, executing derivatives to keep the portfolio appropriately hedged.

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.

Portfolio Management

• 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.

Hedging & Risk Management

• 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.

Desirable

• 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

About Chetwood Bank

We’re a UK-based digital bank dedicated to getting the basics right and offering straightforward savings and mortgages

Data Protection

We anticipate that we will retain your data as part of the recruitment process for no longer than is necessary for the purpose for which it was collected unless we have sought your consent to keep your data for future suitable job vacancies.

Cifas
The personal information we have collected from you will be shared with Cifas who will use it to prevent fraud, other unlawful or dishonest conduct, malpractice, and other seriously improper conduct. If any of these are detected you could be refused certain services or employment. Your personal information will also be used to verify your identity. Further details of how your information will be used by us and Cifas, and your data protection rights, can be found by [https://www.cifas.org.uk/fpn].

Chetwood Bank does not accept speculative or unsolicited CVs from Recruitment Agencies. Any unsolicited CVs received will be treated as the property of Chetwood Bank and Terms & Conditions associated with the use of such CVs will be considered null and void.