Founded in 1931, Mairs & Power, Inc. is Minnesota's oldest investment firm under continuous private ownership and management. We offer an array of investment products to individuals, companies, and organizations. We are seeking candidates for the position of Fixed Income Assistant Portfolio Manager.
Title: Fixed Income Assistant Portfolio Manager
Reports To: Investment Manager – Fixed Income
Department: Investment Management
Status: Full Time / Exempt
Location: St. Paul, Minn. - Hybrid Environment (3 days in-office work required)
Summary:
This position has an integral role on the Fixed Income team, managing portfolios and integrating research and market knowledge to select the best relative value opportunities for clients and managing client accounts. This position is also responsible for delivering analytical and operational support to meet client and governance objectives.
Key Responsibilities:
Portfolio Strategy & Support
- Build and manage appropriate fixed income portfolios for clients across a wide variety of accounts using taxable and tax-exempt securities.
- Develop and deploy processes for overseeing management of fixed income portfolios in partnership with Head of Fixed Income.
- Partner as an external advocate for Mairs & Power for fixed income.
- Assist Lead Portfolio Manager on the MN Municipal Bond ETF, becoming fluent in all aspects of ETF operations and management.
- Backup Head of Fixed Income on a periodic basis.
Credit & Market Analysis
- Perform detailed credit research on both corporate and municipal bonds in conjunction with analyst/Head of Fixed Income.
- Identify and propose relative value opportunities for investment.
- Analyze and monitor corporate and municipal bond holdings to ensure optimal credit quality and yield, contributing to consistent performance.
Reporting & Analytics
- Present to clients, both internal and external, to articulate Mairs & Power fixed income approach.
- Prepare reports using tools like Bloomberg, Clearwater, and Excel.
- Initiate changes to processes and across department integrations to better the fixed income process.
Trading & Execution
- Manage fixed income trade execution and account-level allocations across client accounts (taxable and tax-exempt), assisting with broker-dealer relationships.
- Coordinate and maintain trading platform integration with Mairs & Power systems.
Qualifications
- Bachelor’s degree in finance, economics, or related field; advanced degree (MBA) is strongly preferred.
- Chartered Financial Analyst (CFA) designation preferred.
- Minimum of 7 years’ industry experience in fixed income.
- Deep knowledge of fixed income capital markets and the shifts in market structure.
- Desire, flexibility and curiosity to experiment with new tools (AI derived or other), to continuously improve your investment process and that of the firm.
- Ability to initiate and carry out opaque projects in an unstructured, evolving environment.
- Must be able to make decisions independently in the face of ambiguity.
- Ability to work collaboratively in a small group.
- Demonstrated commitment to ethical standards and inclusive team culture.
- Expert proficiency in Bloomberg and Microsoft Excel.
To apply:
Please email your cover letter and resume.
About Us:
Our 100% employee owned firm manages more than $11.6B in AUM across three mutual funds, one ETF, and individually managed accounts that serve individuals, families and organizations. We believe the best way to make money for our clients is to consistently utilize a disciplined long-term investment approach. We focus on companies with consistent, above-average growth, above-average returns on invested capital and durable competitive advantages.
At Mairs & Power, we believe integrity is the cornerstone of our values. We provide an atmosphere that rewards long-term success over short-term returns by encouraging our employees to solve problems through innovation, inclusivity, and collaboration. We are focused on doing what is right and cultivating the best ideas by consistently investing significant resources in our business to ensure we maintain a competitive advantage. We celebrate each unique perspective and reward the contributions of all our employees.
What We Offer:
At Mairs & Power we are committed to long-term growth, peace of mind and financial security and stronger communities. We are committed to fostering a culture that attracts and retains exceptional individuals. As a team member, you are recognized for the meaningful contributions you make. We accomplish this by offering a wide variety of market competitive compensation programs.
Your pay may include two components: base salary and variable pay. While base pay applies to all employees, variable pay is offered to employees as an annual target bonus range based on a range of factors that include, but not limited to, your position, your individual performance in the role, and firm profitability.
The applicable salary for this full-time role is $175,000 - $225,000 per year. The base pay actually offered will be determined by a variety of factors including, but not limited to, location, relevant experience, skills and knowledge, business needs, market demand, and other factors. To ensure that our pay remains aligned with our desire to remain competitive, we benchmark pay and benefits with other companies that are comparable in size and scope.
Note: This salary range reflects our good faith estimate for this position based on experience and qualifications.
Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.
Our Benefits:
At Mairs & Power, we believe integrity is the cornerstone of our values. We provide an atmosphere that rewards long-term success over short-term returns by encouraging our employees to solve problems through innovation, inclusivity, and collaboration. We are focused on doing what is right and cultivating the best ideas by consistently investing significant resources in our business to ensure we maintain a competitive advantage. We celebrate each unique perspective and reward the contributions of all our employees.
The following benefits may be offered: medical and dental; health savings account; flexible spending account; 401k; profit sharing; life and accidental death and dismemberment insurance; disability insurance; 20 days of vacation each year (pro-rated first year of employment); Sick and Safe Time; 10 paid company holidays; paid parental leave; and other employee benefits. Eligibility for receipt of these benefits is subject to the applicable plan/policy documents. These plans/policies are subject to change at any time at Mairs & Power’s discretion.