Senior Treasury Portfolio Manager

About the role

Leads a team within Corporate Treasury that directs the strategic management of the bank’s securities and held-for-investment mortgage portfolios. Effectively communicates financial market conditions to senior management. Uses knowledge of asset/liability management philosophies and works collaboratively across the organization to develop, recommend, execute and communicate strategies that achieve management’s objectives for risk appetite and balance sheet management positioning. Performs advanced research, analysis and modeling of financial market opportunities and strategies. Monitors portfolio positions and their contributions to consolidated risk assessments and accounting results. Works across the organization to communicate investment/mortgage strategies and their effect on balance sheet management strategies and corporate performance. Maintains and develops control frameworks consistent with operational risks. Develops the strategic plan and sets goals for the unit.

Responsibilities

• Manages a Bank Portfolio team/function and provides leadership and guidance to staff, fostering an environment that encourages employee participation, teamwork and communication
• Manages the Corporation’s fixed income security (U.S. Treasuries, Agency MBS/CMBS/CMOs, Corporates, Municipals, etc.) and the held-for-investment mortgage portfolios to maintain acceptable levels of risk in alignment with the Board-approved risk appetite statement
• Manages the Corporation’s held-for-investment mortgage portfolio with a focus on risk management and maximizing shareholder returns
• Partners with Secondary Mortgage in implementing pricing changes as market dynamics shift
• Active participant in MLRC ensuring Treasury and balance sheet priorities are aligned with mortgage originating business units
• Takes a leadership role in developing interest rate risk and other balance sheet management strategies, leading to strategic recommendations
• Works independently and is able to develop detailed investment/mortgage execution strategies
• Actively participates at the Corporation’s Asset/Liability Committee
• Leads portfolio IT enhancement initiatives including prepayment model upgrades
• Manages internal compliance with MRMD and produces documentation to comply with model oversight governance
• Participates in developing the team’s strategic plan and sets goals and priorities based on the direction set for the unit; follows through to ensure that objectives are met
• Assists in managing all interactions with the second line of defense and internal audit
• Works with multiple stakeholders across Treasury, Compliance, Finance, Legal, Operations, Secondary Mortgage, Audit, Risk to achieve business unit objectives
• Leads and coordinates new products initiatives as recommended by the team
• Leads other strategic projects as directed
• Conducts analysis for the effective challenge process relating to specific disciplines described
• Ensures processes and procedures for governance are appropriate and regulatory and reputation risks are minimized
• Provides review of DFAST and CCAR submissions related to the specific portfolio disciplines above
• Ensures compliance with all policies, guidelines, and regulatory standards (Board, ALCO, Volker, Regulation WW)
• Carries out complex initiatives involving multiple disciplines and/or ambiguous issues
• Conducts due diligence and ongoing integration analysis of acquisitions from a Treasury perspective relating to the specific disciplines above
• Exercises usual authority of a manager concerning staffing, performance appraisals, promotions, salary recommendations, performance management and terminations
• Understands and adheres to the Company’s risk and regulatory standards, policies and controls in accordance with the Company’s Risk Appetite
• Promotes an environment that supports belonging and reflects the M&T Bank brand
• Maintains M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable

Scope of Responsibilities

The discretionary portfolio is a significant component of the Bank’s balance sheet risk management function. The position is responsible for the following capital markets related functions: investment securities portfolio management and held-for-investment residential mortgage portfolio management. In carrying out these responsibilities, the position must interact and build relationships with members of executive management, Operations, Finance, Corporate Finance, Mortgage Division, Tax, Legal, investment bankers, vendors and occasional informational/educational meetings with bank customers. The position prepares and provides presentations to executive management and risk governance committees. Develops portfolio management frameworks and strategies that are aligned with the risk appetite and tolerances for the interest rate risk.

Education and Experience

• Bachelor’s degree in Accounting, Finance, Math, Economics or related field and a minimum of 9 years’ related experience focused on mortgages/mortgage-backed securities, or in lieu of degree, a combined minimum of 13 years’ higher education and/or work experience, including a minimum of 9 years’ related experience focused on mortgage-backed securities
• Direct experience managing and/or advising a discretionary bank portfolio and associated trade execution in the capital markets
• Demonstrated expertise in the use of Calypso fixed income analytical software
• Comprehensive understanding of the relevant instruments and markets
• Advanced skills in assessing, quantifying and communicating market risk
• Understands the data management, assumption inputs, behavioral research and model results associated with advanced fixed income valuation and prepayment software
• Ability to apply technical skills to the modeling of trades and portfolio positions
• Subject matter knowledge of Asset/Liability Management concepts and their influence on bank portfolio strategy
• Knowledge of Accounting for fixed income securities, or experience in Market Risk
• Effectively communicates (both verbally and in writing) execution strategies and summarizes trade executions and portfolio strategy to the Director of Treasury Portfolio Management, senior management, and risk committees

Education and Experience Preferred

• Master’s degree in Business Administration (MBA)
• Chartered Financial Analyst (CFA) highly preferred
• Excellent analytical skills, including a thorough understanding of stochastic model output and the nuances of interest rate and prepayment modeling
• Proficient in financial products pricing/fair value measurement theory
• Current knowledge of all tax, accounting (GAAP) and regulatory actions related to portfolio management activities
• Excellent verbal and written communication skills
• Strong cross-functional collaboration skills
• Strong management skills
• Strong presentation skills
• Adept at working in a fast-paced, high-energy level, team-oriented environment

Pay

M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $180,900.00 – $301,500.00 Annual (USD). The successful candidate’s particular combination of knowledge, skills, and experience will inform their specific compensation.