Fixed Income & Credit Portfolio Analyst

Job no: 538527
Position type: Full-time
Location: PHOENIX
Division/Equivalent: STATE OF AZ
School/Unit: ARIZONA STATE RETIREMENT SYSTEM (ASRS)
Department/Office: RT300-RT-INVESTMENTS
Categories: Accounting/Auditing, Business and Financial Administration, Insurance/Banking Industry

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For more than a half-century, the Arizona State Retirement System (ASRS) has provided retirement, health insurance and long term disability benefits to employees of the state, counties, municipalities, universities, community colleges, school districts and other political entities. We are a top performing benefit plan administrator with a solid reputation and sustainable plan design. Our organizational culture is based on the following principles; Professionalism, Results, Improvement, Diversity and Excellence. We believe in delivering service with PRIDE.

The ASRS Investment Division is led by Michael Viteri, Chief Investment Officer, and manages the daily investment of approximately $64 billion in assets held in a diversified investment portfolio of cash, fixed income, domestic and international equities, real estate, private equity and private credit. The ASRS Investment Division, currently comprised of 12 individuals, is responsible for managing the investments of the ASRS pension plan, Long Term Disability plan, and Health Benefits plan. Codified through the ASRS Investment Beliefs, the ASRS Investment Division oversees the actual investments, which are managed by a select group of investment managers, as well as providing internal portfolio management capabilities for select asset class mandates.

Check out our webpage, Azasrs.gov, to learn more about the ASRS.

FIXED INCOME & CREDIT PORTFOLIO ANALYST

Job Location:

Address: 3300 N. Central Ave., Phoenix, AZ 85012

Hybrid work environment

Posting Details:

Salary: DOE up to $110,000 annually, incentive pay of up to 30% of salary, and excellent benefits.

Closing Date: Wednesday, April 15, 2026

Job Summary:

The Arizona State Retirement System (ASRS) is seeking a Portfolio Analyst to play a key role on its Fixed Income & Credit Team. The Analyst will support the Deputy CIO and the asset class Portfolio Manager in managing the internally managed fixed income portfolio and monitoring the credit portfolio which includes investments in Private Credit, Distressed Debt and other credit investments. Responsibilities will include oversight of legal documentation, performance measurement and reporting, participation in quarterly manager calls, and—at the discretion of the Deputy CIO and Portfolio Manager—attendance at annual limited partner meetings.

Essential activities:

1. Assist with oversight of the Interest Rate Sensitive asset class, including portfolio management and trading responsibilities for the approximately $3 billion internally managed U.S. Treasury and futures portfolio. The role will also involve conducting investment research across sectors of the investment-grade market to evaluate potential inclusion in the Treasury portfolio and identify opportunities for incremental alpha outside the assigned benchmark. Responsibilities include utilizing Bloomberg PORT for portfolio construction and risk management, and offering trade support through execution of trades through Bloomberg, MarketAxess, and Tradeweb with approved broker-dealers

2. Assistance with the management and oversight of the Credit asset class including primary due diligence and monitoring roles for select Credit partnerships. The Fixed Income & Credit portfolio analyst will also assist in the identification of new investment ideas in Credit and conducts due diligence on potential externally managed opportunities across private debt, distressed debt, structured credit and other opportunistic strategies; including a comprehensive review of the investment and operational process, negotiating fund level economics, working with external legal counsel to review all fund terms and presenting attractive opportunities to the internal asset class committee.

Additionally, the Fixed Income & Credit Portfolio Analyst will assist in the following:

Assist in the quarterly and annual reconciliation returns, including the calculation of asset class returns
Assist in monitoring sector and geographic exposures across the asset class as well as offer trading support for internal portfolios
Assist in the management of the deal documentation process, legal review, and financial administration
Assist in the collaboration with legal counsel, accountants, consultants and other service providers to manage investment to closing
Assist in analyzing operational due diligence for potential investments
Assist in developing presentation materials for the asset class portfolio
Track industry statistics while maintaining quarterly and semi-annual databases
Work collaboratively across a number of functional areas within ASRS and with custodial bank and other external vendors and stakeholders

The ideal candidate will have:

Academic

Relevant Bachelor’s or Master’s degree

Certification

CFA or other appropriate professional investment designation or progress towards designation

Experience

3+ years of experience related to capital or private markets and institutional portfolio management

Other Skills

Superb work ethic and positive collegial attitude
Highly organized with exceptional attention to detail
Ability to work both independently and with a team
Creativity and problem solving skills
Excellent Microsoft Office skills
Excellent verbal and written communication skills

Benefits:

The State of Arizona offers a comprehensive benefits package that includes:

Competitive salary and incentive compensation program (up to 30% of base salary)
Tuition/Professional Certification monetary assistance
Robust and affordable insurance plans (medical, dental, life, short-term and long-term disability options)
A top-ranked retirement program
10 paid holidays per year
Accrue vacation (21 days/year) and sick days (12 days/year)
An incentivized commuter club and public transportation subsidy program
The opportunity to participate in deferred compensation, credit union membership, and a wellness program
Rewarding work that benefits the people of Arizona
Public Service Loan Forgiveness eligible employer
Free Covered Parking and onsite gym membership

The Arizona State Retirement System is located in midtown Phoenix, within walking distance of the Light Rail. We offer a stable work environment and an atmosphere that fosters a healthy work-life balance.

For a complete list of benefits provided by The State of Arizona, please visit our benefits page

Retirement:

Positions in this classification participate in the Arizona State Retirement System (ASRS).

Persons with a disability may request a reasonable accommodation such as a sign language interpreter or an alternative format by contacting 602.677.2902.

* Arizona State Government is an EOE/ADA Reasonable Accommodation Employer.
* All newly hired employees are subject to the E-Verify Employment Eligibility Verification Program.
* Candidates selected for hire will be subject to a background investigation to include credit and criminal history.

Advertised: Mar 11 2026 US Mountain Standard Time
Application close: Apr 15 2026 US Mountain Standard Time