MIGA · 17 hours ago
Principal Portfolio Manager, Credit Strategies
Washington, DC, , US
Full-time
Onsite
Lead/Staff
15+ years expThe World Bank Group is a leading global partnership dedicated to ending extreme poverty and promoting shared prosperity. They are seeking a Principal Portfolio Manager for the Credit Strategies team, responsible for managing investment portfolios, conducting due diligence, and overseeing investment performance in private credit strategies.
Finance
Responsibilities
Lead the portfolio construction process and enhancements to the portfolio:
Formulate ideas and approaches to portfolio construction to manage and monitor the risk and return drivers in the private credit portfolio
Enhance the necessary quantitative and qualitative analysis in support of investment decisions, including cash flow modeling
Demonstrate full understanding of analytical and other resources and systems applicable to Credit Strategies fund investing, manager analytics, valuation, and performance reporting; and enhance the investment process as appropriate
Portfolio management and strategy implementation:
Oversee the day-to-day operations of the private credit investment portfolio, ensuring alignment with the approved investment guidelines and risk parameters
Oversee the management of relationships with external private credit managers (GPs)
Monitor the performance and risk characteristics of current funds in the Credit Strategies portfolio and keep track of recent trends and developments in the industry
Ensure all investment activities comply with internal policies, regulatory requirements, and industry best practice
Have a comprehensive understanding of the risk and return patterns across the private credit asset class and across a broad set of strategies and managers
Enhance quantitative and qualitative analysis in support of investment decisions, including assessing underwriting discipline
Demonstrate full understanding of analytical and other resources and systems applicable to respective strategies and enhance processes and resources (including cash flow forecasting and risk and performance analytics)
Maintain a forward-looking view on risk and return across a broad set of private credit investment strategies and market cycles, including covenant trends and documentation strength
Manage the risk of the portfolio as appropriate, including through regular rebalancing of commitments by strategy, liquidity management, and mitigation of concentration risk
Effect changes to the asset class portfolio as appropriate, including engaging with the PENIN Manager and presenting it to the Investment Committee for approval
Propose and implement changes to investment processes
Market monitoring, identification of new managers and investment due diligence:
Keep abreast of market developments affecting the asset class including market trends, economic developments, and regulatory changes that may impact the portfolio. Identify investment opportunities and implications for existing portfolios under management
Recommend updates to the investment guidelines and objectives as necessary to adapt to changing market conditions and strategic objectives, ensuring alignment with the benchmark characteristics and the Plan’s private credit mandate
Independently manage the due diligence process of external managers across the asset class, including assessment of sourcing/origination, underwriting discipline, documentation/covenant strength, portfolio construction, leverage usage, valuation policy, reporting, and operations (aligned with established private credit due diligence best practices)
Fully understand the legal, business, operational, and regulatory risks across a broad set of private credit strategies and managers (including LPA terms, side letters, and GP-LP governance)
Independently and effectively negotiate with investment managers
Lead engagement with senior management and active participation in Investment Committee (IC) decision making process:
Prepare and present investment recommendations, risk assessments, and scenario analyses to inform IC decisions for Credit Strategies portfolio
Prepare and present investment recommendations, risk assessments, and scenario analysis to inform IC decisions
Document key IC deliberations, decision rationales, and follow-up actions
For other private markets asset classes, actively participate in IC meetings, contributing well-researched insights, challenging assumptions constructively and supporting robust debate to improve decision quality and resilience of investment outcomes
Prepare and present regular investment performance reports to senior management and relevant committees
Present proposed changes to investment processes to the Investment Committee for approval and lead the implementation
People management, collaboration and mentorship:
Promote a culture of high performance, inclusion, and continuous learning; set clear expectations and link individual objectives to team and organizational strategy
Drive proactive performance management for staff in the Credit Strategies team, setting SMART goals, conducting regular check-ins, mid-year and year-end reviews, and maintaining career development plans
Mentor and guide junior-level team members
Contribute to additional projects as needed within the department
Qualification
Required
Advanced degree in a relevant field, preferably finance, business, economics, IT, MIS, or computer science
Professional Certification such as a CFA and/or CAIA is a plus
15 years of relevant working experience, with a proven track record in private markets portfolio management and external manager selection for private credit strategies (including portfolio risk management, commitment pacing, and portfolio monitoring)
Experience with senior secured and asset-based lending, covenant/documentation analysis
An understanding of global and domestic macroeconomics and capital market issues relating to investments, with specific appreciation for private credit cycles, interest rate dynamics, underwriting standards, and recovery behavior
Proven ability to engage with multiple stakeholders in determining strategic positioning of a private credit investment portfolio intended to meet organizational objectives
Experience working with investment teams, understanding investment and legal review processes, and coordinating with middle-office and legal functions
Excellent quantitative, qualitative, and credit analytical skills, including stress testing borrower interest coverage under varying base-rate scenarios and assessing covenant packages
Demonstrated track record contributing to investment committees (IC) or equivalent governance bodies, with evidence of high-quality decision-making under uncertainty
Experience with systems supporting private markets fund investing, portfolio monitoring, valuation, and reporting processes and controls surrounding the asset management business
Demonstrated people leadership experience managing junior investment professionals
Strong coaching, feedback, and talent development skills; experience building high-performing, inclusive teams
Creative thinker and quick learner with initiative, drive, and attention to detail
Proven capacity to multi-task, deliver results, and respond quickly and effectively to requests. Ability to work under pressure and resolve conflicts
Excellent communication and facilitation skills (both verbal and written skills), with the ability to synthesize and convey complex ideas clearly to diverse stakeholders
Good team player with strong interpersonal skills and commitment to work in a team-oriented, multi-cultural environment
Demonstrated ability to collaborate across multidisciplinary teams in order to foster strategic business partnerships
Proven capacity to multi-task, deliver results under stress and respond quickly and effectively to requests
A quick learning ability with strong initiative and drive, as well as attention to detail
Excellent team player with strong interpersonal skills, and commitment to work in a team-oriented, multi-cultural environment with the highest ethical standards
Benefits
Comprehensive benefits
Retirement plan
Medical, life and disability insurance
Paid leave, including parental leave
Reasonable accommodations for individuals with disabilities
Company
MIGA
The home of the World Bank Group Guarantee Platform, MIGA helps draw international private capital to developing countries by providing guarantees (political risk insurance, credit enhancement and trade finance guarantees) to investors and lenders.
51-200 employees
Funding
Current Stage
Growth StageLeadership Team
Atsuhiro Oguri
Partnership Specialist
Hiroyuki Hatashima
Chief Evaluation Officer
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