Portfolio Manager

Manage EUR 8 bln as a portfolio manager at DNB.

As a portfolio manager at DNB you have impact on the fulfillment of DNB’s missions of financial stability and long-lasting prosperity by managing the central bank own investments, where sustainability plays an important role.

DNB’s reserves are held for return generation, while a portion is earmarked for FX interventions. However, at DNB we not only strive for financial return, but environmental and social value creation as well. DNB is the first central bank in the world to sign the UN Principles for Responsible Investment.

We invest about EUR 8 bln in a broad range of asset classes, from equities to government bonds, with ESG integration. In addition, we have a dedicated allocation to green bonds.

Government bonds are managed actively by a team of portfolio managers that is looking for a new colleague. With us, you decide on and implement active positions that enhance the return of our reserve. Next to that, you contribute to the improvement and automation of our investment process.

Together with your colleagues, you are responsible for the active management of the internally-managed bond portfolios. This means that:

• You stay constantly informed about economic and geopolitical developments.
• You make use of your macroeconomic knowledge and investment experience when you analyze markets and build a vision.
• You propose tactical and active positions and execute the corresponding transactions in the market.
• You manage the relationships with DNB’s counterparties.
• You develop and implement the investment process at DNB, including with a focus on automation.
• You use your experience in guiding the less experienced colleagues.
• You report to various stakeholders over portfolio, market and economic developments.
• You participate in ad-hoc cross-departmental projects, targeted at operational excellence.

You will be part of a team of 12 professionals, managing DNB’s EUR 8 bln reserve at the strategic, tactical and active level.

• The team is culturally diverse and the vast majority of colleagues is young. Everyone has a strong academic background. The vast knowledge available is shared through a close and fruitful cooperation between the team members.
• We are organized in three clusters that constantly work together: (i) internal portfolio management, (ii) external portfolio management and (iii) responsible investing.
• The internal portfolio management cluster is responsible for tactical and active positioning and uses a wide palette of strategies to outperform its benchmarks.
• We are part of the broader Financial Markets division, which includes also Market Intelligence, Risk Management, Back Office and Monetary Policy Implementation.
• We report to the Investment Committee and the Board of DNB.

Ambition, initiative and motivation. You strive to constantly grow, learn and improve. You like taking initiative and you get your energy from financial markets and investing.

• You have affinity with numbers and complex quantitative analyses. You are able to summarize and explain quantitative topics in qualitative terms, adapting the level of depth to your public.
• You have a proven interest in sustainability and responsible investment.
• You have between 2 and 4 years of relevant working experience.
• Ideally, you have a certain degree of affinity with coding. At the moment we work mostly with VBA, but strive to move to Python.
• You have a master in finance, economics or another quantitative field.
• You work well in teams and have excellent communication skills in English or Dutch and a willingness to achieve a very good level of the other.
• You are a CFA charter holder or you have the desire to become one.

A 36-hour working week right at the heart of today's financial and economic current events. With a reliable and socially involved employer in Amsterdam, who constantly responds to the changing requirements of our environment. And that continuously innovates. As an institution, we are at the heart of society. Our people are driven and involved in their work within a social context. We see a diverse and inclusive work environment as one of the conditions for being successful as an organization and continuing to achieve our goals. This will offer you a wealth of opportunities to develop and gain new experiences, both in the Netherlands and abroad. You will initially be working on a one-year contract, with the prospect of an extension, provided you have performed well and our organization has not undergone any changes that affect your job.

The other excellent terms and conditions of employment for this position are:

• A salary of at least € 4.270.-- and a maximum of € 7.830.-- gross per month, based on a 36-hour working week. Among other things, the final salary will depend on your expertise and experience.
• A 13th monthly salary, an 8% holiday allowance calculated on your 13-month salary and a freely disposable personal budget of 5.9% of your 12-months salary.
• Your pension entitlements will accrue under a career-average scheme including provisional indexation, with a 6.54% employee contribution.
• Full reimbursement of your public transport commute.
• Plenty of opportunities for professional and personal development through education and training.

If working with an impact as a Portfolio Manager appeals to you, then don't wait but send us your job application straight away! Please send us your motivation letter and full cv no later than 1 September 2022.

Would you like to get to know us a little better? Watch the videos and testimonials from colleagues here and listen to our podcasts. Do you have any questions before you apply? Below are our contact details, we are happy to tell you more!

For the judicial screening, this position is divided into profile 2a. More information about the screening can be found on the page Over ons > Sollicitatieproces (information only available in Dutch).**

The purpose of this vacancy is application, not acquisition.