Bond Portfolio Manager

Job Description

Job Description

Description :

Westamerica is among the largest commercial banks headquartered in California. We are looking for outstanding people to join our winning team. We reached our current strength because our employees, customers, and shareholders believe in the same fundamental goals : Delivering a wide variety of financial services with a superior customer service guarantee.

Responsible for managing the Bank’s bond portfolio, including development of investment strategy with senior management, purchasing bonds, and monitoring portfolio performance. Provides investment portfolio management services to the Bank’s Trust Department.

• Reviews and interprets governmental monetary and fiscal policies, economic conditions, and bond market conditions and applies such knowledge in developing bond portfolio management recommendations for senior management (Treasurer & CEO) and in managing the Bank's bond portfolio.
• Buys bonds for the Bank's investment portfolio in accordance with senior management approved strategies and tactics. Performs pre-purchase due diligence prior to bond purchase. Achieves Community Reinvestment Act goals for investments.
• Monitors the performance of the Bank's bond portfolio in regard to yield, duration, liquidity, credit quality, value and other attributes. Performs quarterly stress tests of the bond portfolio value.
• Maintains working relationships with securities dealers and brokers.
• Provides investment portfolio management services to the Bank's Trust Department. Upon request, reviews trust accounts which hold individual equities and / or bonds and makes portfolio management recommendations. Provides investment related materials for, attends, and participates in monthly Trust Investment Committee meetings.
• Regularly updates the bond portfolio policies and procedures.
• Maintains a working knowledge of all laws and regulations affecting designated areas of responsibility. Keeps abreast of new and changing laws and regulations. As needed, participates in formulating and updating policies and procedures / job aids which incorporate regulatory requirements. Disseminates compliance-related information to employees. Assists division management with the development and implementation of a comprehensive compliance risk assessment. Ensures internal controls that mitigate compliance risk are established, maintained, and applied in practice. Completes assigned compliance training courses, BCG, and Bank regulating agencies' training affecting designated areas of responsibility and disseminates the information, as appropriate, with colleagues and employees.
• Participates in audits and examinations.
• Performs other job-related duties as required.

Requirements :

Requires a Bachelor’s degree in Finance and Economics, or similar degree. An advanced degree such as an MA or MBA is desirable. Requires a minimum of five-years’ experience managing bond portfolios. Proficient in current bond portfolio management strategies and tactics, as well as attributes of various bond structures. Proficient with Bloomberg, Excel, Morningstar and other IT applications related to profession. Excellent verbal communication skills. Team oriented.

COMPLEXITY OF ANALYSIS :

Interprets economic news and data in developing an evolving investment strategy. Applies verbal communication skills in interactions with senior management in recommending bond portfolio strategies and tactics. Applies informed judgement throughout the exercise of assigned duties Continually analyzes a broad range of bond investments (relative yield, duration, and liquidity) in developing strategy recommendations which comply with the Bank's policies and procedures. Is tactful in negotiating with brokers and dealers in the marketplace. Success of this position is dependent upon familiarity and successful engagement with market participants.

OPERATING RESPONSIBILITIES :

Responsible for managing the Bank's bond portfolio. Works closely with the Bank's funding manager in regard to overall Bank liquidity and sensitivity to interest rate risk. Supports the Bank's trust department.

CONTACTS : Internal :

Funds Manager, Investment Operations Manager, Treasurer, Trust Department Manager and trust officers, Compliance Manager and staff, and credit personnel.

External :

Securities dealers, bank customers, Bank regulators during annual safety & soundness examinations, internal auditors and external financial auditors.

EOE

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