Portfolio Manager, Tax-Exempt Fixed Income SMA

Your opportunity

At Schwab, you’re empowered to make an impact on your career. Here, innovative thought meets creative problem solving, helping us challenge the status quo and transform the finance industry together.

We believe in the importance of in-office collaboration and fully intend for the selected candidate for this role to work on site in the specified location(s).

As a Portfolio Manager on our Tax-Exempt Fixed Income SMA team, you will help drive investment outcomes across a growing separately managed account platform by bringing together market insight, portfolio construction expertise, disciplined risk oversight, and sound investment judgment. This role is central to how we translate municipal market views into scalable portfolio strategies, while balancing customization, compliance, and performance across individual client accounts.

In this role, you will influence decisions across the full investment process—from market analysis, portfolio construction, and order generation to risk monitoring, performance attribution, and ongoing strategy enhancement. Your ability to evaluate market conditions, assess exposures, interpret results, and make informed decisions will directly contribute to portfolio positioning and long-term client outcomes. You will also play an important role in advancing how technology supports portfolio implementation, workflow efficiency, and consistency across municipal SMA strategies.

Success in this role requires strong collaboration and adaptability. You will partner closely with teams across trading, credit research, operations, compliance, technology, client service, and relationship management, using clear communication to connect investment strategy with execution and stakeholder needs. If you’re energized by meaningful work, analytical problem-solving, and the opportunity to make a measurable impact in a highly collaborative investment environment, this role offers the chance to deepen your expertise while helping shape the future of our municipal SMA platform.

What you have

Required Qualifications

• Bachelor’s degree required
• 5+ years of experience in fixed income portfolio management or a related investment role, with a focus on municipal bonds
• Strong mathematical and analytical skills, including the ability to perform complex data analysis, portfolio analysis, and performance interpretation
• Advanced knowledge of Bloomberg or other fixed income analytical tools
• Excellent verbal and written communication skills, with the ability to explain complex investment concepts, portfolio positioning, and performance drivers to a range of stakeholders
• Demonstrated decision-making ability, sound investment judgment, and the ability to think strategically and independently in a fast-paced environment
• Proven ability to collaborate effectively across investment, trading, operations, technology, compliance, client service, and relationship management teams
• Ability to work cohesively in a dynamic team environment with strong adaptability, proactive communication, and continuous engagement

Preferred Qualifications

• Bachelor’s degree in Business, Finance, Economics, Accounting, or a related field
• Experience managing or supporting separately managed accounts, particularly municipal bond SMA strategies
• Experience with tax-exempt municipal bonds, municipal credit analysis, or municipal portfolio construction
• Experience using InvestorTools Perform or a similar portfolio management platform
• Hands-on experience with investment rules, workflow configuration, model-based portfolio construction, strategy scoring, amount tables, management styles, compliance workflows, or technology-enabled order generation
• CFA designation or active progress toward the CFA designation

In addition to the salary range, this role is also eligible for bonus or incentive opportunities.