Asset & Wealth Management, Multi-Asset Solutions: Portfolio Manager, Associate - New York

About the Role

Multi-Asset Solutions (MAS) is an investing group within the Asset Management Division at Goldman Sachs, responsible for managing customized multi-asset class portfolios and funds. This includes discretionary mandates for U.S. and international public pension plans, sovereign wealth funds, insurance companies, and providing outsourced CIO services. The team applies rigorous techniques to strategic and tactical asset allocation, asset-liability analysis, portfolio design, risk management, and portfolio reporting.

The successful candidate will join the New York Portfolio Management team within MAS, focusing on the Outsourced CIO channel. The role involves daily management of U.S. pensions and insurance portfolios in alignment with MAS investment philosophy, client guidelines, and regulatory constraints. This position offers significant exposure to insurance portfolio management, including asset-liability considerations, fixed income portfolio construction, and evaluation of corporate, securitized, private credit, and multi-asset investment opportunities.

Responsibilities

• Manage multi-asset class portfolios in line with client guidelines, internal investment policies, and regulatory constraints.
• Develop investment judgment and expertise to perform key portfolio management responsibilities within a few months of joining.
• Lead investment and risk projects to enhance and scale trading and risk management processes, infrastructure, and analytics for insurance portfolio management.
• Trade across asset classes (equities, fixed income, currencies, alternatives) and instruments (futures, forwards, ETFs, options, swaps, funds).
• Manage portfolio risk across various investment vehicles, including exposure, currency, cash management, and investment manager/vehicle oversight.
• Collaborate with internal GSAM teams to execute dynamic asset allocation views with consistency and scale.
• Structure trades across asset classes to manage portfolios in line with hedging and flow considerations.
• Manage derivative-based overlay strategies to enhance the risk management profile of portfolios and/or capture market risk premia.
• Analyze portfolio risk and performance attribution, reporting findings to Senior Portfolio Managers weekly.
• Produce investment updates and market commentary for dynamic portfolio views.
• Participate in and sometimes lead complex portfolio events, such as onboarding new client mandates or portfolio restructurings, requiring coordination across multiple internal and external teams.

Requirements

• Bachelor’s degree.
• Advanced degree or CFA designation preferred.
• 3-6 years of investment management experience, with a successful track record of teamwork.
• Experience in trading and managing risk for insurance or pension portfolios.
• Ability to communicate investment strategies and rationales to audiences of varying sophistication.
• High degree of investment awareness, including macroeconomic trends and implications for multi-asset class investing.
• Intermediate or advanced knowledge of asset allocation principles and factor investing approaches.
• Excellent writing, communication, and project management skills.
• Creative problem-solving abilities and detail-oriented organization.
• Self-starter able to work independently and thrive in a team environment.
• Proficiency in Excel and PowerPoint; knowledge of Bloomberg, Reuters, or financial data systems preferred.

Preferred Qualifications

• Experience analyzing and investing across fixed income sectors, including investment grade and high yield corporates, securitized credit (CMBS, RMBS, ABS, CLOs), and private credit.
• Understanding of key portfolio construction concepts, such as duration, spread duration, yield curve dynamics, credit quality, liquidity, and risk-adjusted return analysis.
• Experience evaluating relative value opportunities across credit sectors and translating market views into portfolio allocation recommendations.
• Willingness to help build and enhance portfolio management, trading, and analytics infrastructure within a growing insurance investment platform.

Pay

The expected base salary for this New York, NY-based position is $100,000–$170,000. In addition, you may be eligible for a discretionary bonus if you are an active employee as of fiscal year-end.

Benefits

Goldman Sachs provides competitive benefits and wellness offerings, including:

• Health, dental, and vision insurance.
• Retirement savings plans.
• Paid time off and holidays.
• Parental leave and family care resources.
• Wellness programs and employee assistance.

A full summary of these offerings is available for active, non-temporary, full-time and part-time U.S. employees who work at least 20 hours per week.