Fixed Income Portfolio Manager, Government Securities

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 (Westlake, TX).

As one of the industry’s largest and most experienced asset managers, Schwab Asset Management (SAM) offers a focused lineup of competitively priced ETFs, mutual funds, and separately managed account strategies (SMA’s) designed to meet the core needs of investors. By operating our business through clients’ eyes, and putting them at the center of our decisions, we aim to deliver exceptional experiences to investors and the financial professionals who serve them. As of December 31, 2025, SAM managed over $1.7 trillion, and nearly $700 billion in index strategies.

We are seeking an experienced fixed income portfolio manager to contribute to the management of Schwab’s taxable bond index mutual funds and exchange traded funds (ETFs). This role will have full day-to-day ownership and oversight responsibility for US Government securities across sector-specific and multi-sector strategies. Additionally, this individual will help shape the direction of Schwab’s government bond strategies and our broader fixed income effort. As with all portfolio management positions, in addition to managing fixed income portfolios, this individual is expected to exhibit a high degree of ownership, initiative, curiosity, and sense of urgency in all aspects of their work. The position will be based in Westlake, TX (Dallas-Fort Worth), reporting to the Head of Taxable Bond Index Strategies, and will adhere to Schwab’s workplace policy requiring employees to work in the office / on-site four days per week.

In this highly visible position, the successful candidate will sit at the center of Schwab’s government bond index platform, which represents the largest component of our index AUM, and will contribute to our efforts in the following areas:

• Portfolio management and construction: day-to-day ownership and oversight for US Government securities (Treasuries, TIPS, and Agencies) across sector-specific and multi-sector strategies within Schwab’s taxable bond index mutual funds and ETFs. A critical component of the role is the execution of the daily workflow and investment process which includes working with ETF counterparties and other partners within the ETF ecosystem. While the investment process is highly automated and operates in a fast-paced environment, the role requires active judgment around security selection, market structure nuances, cash flows, and exception handling—particularly during periods of market stress.

• Scale and efficiency: drive measurable improvements in scale, efficiency, and operational resilience across government bond portfolios by questioning existing processes and leading automation initiatives. This could include articulating business needs (functionality, data, process, etc.) and leading product-specific design and testing. Key business partners include the fixed income trading team and technology partners, both internal and external.

• Thought leadership: serve as a subject‑matter expert on U.S. government bond markets, proactively sharing insights on Treasury issuance, inflation dynamics, market structure, and financial conditions with investment, product, and leadership teams.

• Collaboration & partnership: ad-hoc contributions to topics involving teams across SAM including researching items related to accounting, income accrual, and tax considerations, product management and development, among others.

• Other: regularly contribute to the creation and maintenance of charts, graphs, presentation materials, and related data for team and department meetings. While the primary focus of the role is the management and oversight of existing funds, this portfolio manager will contribute to the design and implementation of investment strategies for potential new products, both independently and in collaboration with other teams.

What you have

Required Qualifications: 

• 5+ years of fixed income portfolio management experience, strong quantitative aptitude, and a passion for global capital markets.
• A degree in economics, finance, statistics, mathematics, computer science, or a related field is preferred.

Additional candidate expectations include:

• Fluency and comfort with technology, including data access and management and a working knowledge of common programming languages.
• Demonstrated experience using fixed income portfolio management, trading, and risk platforms, which includes familiarity with portfolio construction techniques such as replication, sampling, factor-based exposures and optimization, tracking error minimization, and / or multi-factor risk modeling tools.
• Team player mindset and ability to collaborate across the organization.
• Self-starter with natural curiosity, problem solving, demonstrated critical thinking and creativity, and a passion for learning and innovating.
• Experience with Agency Mortgage-Backed Securities and other securitized products is a plus.
• Effective communicator, both written and verbal, with strong organizational and time-management skills. Detail-oriented; must possess the ability to work efficiently within tight time constraints.