Head of Investment Portfolio and Institutional Hedging

Description

The Head of Investment Portfolio and Institutional Hedging is a senior Treasury leadership role responsible for the strategic management of the firm’s investment portfolio, institutional interest rate and foreign exchange hedging programs, MSR hedging activities, and capital markets solutions that support optimization of capital, liquidity, and earnings.

The role is accountable for balancing risk, return, capital efficiency, and liquidity of the investment portfolio while managing core balance sheet risks while operating within established regulatory, accounting, and policy frameworks. In addition to core portfolio and hedging responsibilities, the role provides leadership oversight of the firm’s debt capital markets activities, ensuring funding strategy and execution are aligned with balance sheet and capital objectives.

This position reports to the Treasurer and is a key member of the Treasury senior leadership team, working closely with Finance, Risk, Accounting, and business partners, as well as external market participants.

KEY RESPONSIBILITIES

Investment Portfolio Management

• Set strategic direction for the investment portfolio, including asset allocation, risk positioning, and performance objectives.

• Oversee day-to-day portfolio management activities, including execution, performance attribution, scenario analysis, and stress testing.

• Develop and maintain portfolio-level risk metrics consistent with IRRBB, liquidity, and capital frameworks.

• Ensure robust pre- and post-trade analytics and governance processes to support ALCO decision-making.

• Drive continued enhancement of portfolio analytics, systems, and data infrastructure.

Institutional Interest Rate and FX Hedging

• Own the design, execution, and ongoing management of institutional hedging programs.

• Ensure hedging strategies are economically effective and compliant with accounting, regulatory, and policy requirements.

• Monitor market liquidity, collateral usage, counterparty exposures, and hedge performance.

• Partner closely with Finance, Risk, Accounting Policy, and Legal.

MSR Hedging and Mortgage-Related Risk

• Oversee MSR hedging strategy, execution, and performance.

• Ensure alignment between MSR valuation, hedging activities, and balance sheet objectives.

• Serve as a key Treasury partner to mortgage teams.

Debt Capital Markets Oversight

• Provide strategic leadership and oversight of debt capital markets activities.

• Manage the Debt Capital Markets function.

• Ensure issuance strategy is optimized across cost of funds, tenor, capital treatment, and liquidity considerations.

External Market Engagement and Intelligence

• Build and manage relationships with external dealers and market participants to enhance access to liquidity, secure competitive pricing, and support effective execution of transactions.

• Monitor and analyze market dynamics, including macro-economic trends, interest rate movements, and regulatory developments to inform portfolio strategies and risk management decisions.

• Maintain active intelligence and line of sight on structured products, including asset-backed securities and other complex instruments, to optimize liquidity and capital efficiency in the portfolio.

Leadership, Governance, and Stakeholder Management

• Lead, develop, and retain high-performing teams across portfolio management, hedging, MSR, and debt capital markets.

• Establish a strong risk culture with disciplined adherence to policies, limits, and controls.

• Support interactions with regulators and rating agencies as a subject-matter expert.

• Drive talent development, succession planning, and cross-training to strengthen organizational depth.

EXPERIENCE, SKILLS AND COMPETENCIES:

• 15 years of experience in Treasury, balance sheet management, capital markets, or institutional ALM within a large financial institution.

• Deep expertise in investment portfolio management, interest rate risk management, derivatives, and hedge accounting.

• Strong understanding of MSR risk and mortgage-related hedging strategies.

• Experience overseeing or partnering closely with debt capital markets and funding functions.

• Proven people leader with experience managing senior professionals.

• Strong executive communication skills.

LEADERSHIP PROFILE

• Strategic, disciplined risk manager with strong market judgment.

• Ability to balance short-term earnings objectives with long-term balance sheet resilience.

• Collaborative, enterprise-minded leader.

• Committed to talent development and continuous improvement.

EDUCATION AND CERTIFICATIONS:

• Bachelor’s degree required; advanced degree or professional certification (e.g., CFA) preferred.

Hours & Work Schedule

Hours per Week: 40

Work Schedule: Monday through Friday

Pay Transparency 

The salary range for this position is $220,000 - $330,000 per year, plus an opportunity to earn an annual discretionary bonus. Actual pay is based on various factors including but not limited to the work location, and relevant skills and experience.

We offer competitive pay, comprehensive medical, dental and vision coverage, retirement benefits, maternity/paternity leave, flexible work arrangements, education reimbursement, wellness programs and more. Note, Citizens’ paid time off policy exceeds the mandatory, paid sick or paid time-away policy of every local and state jurisdiction in the United States. For an overview of our benefits, visit https://jobs.citizensbank.com/benefits

Some job boards have started using jobseeker-reported data to estimate salary ranges for roles. If you apply and qualify for this role, a recruiter will discuss accurate pay guidance.

Equal Employment Opportunity

Citizens, its parent, subsidiaries, and related companies (Citizens) provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to age, ancestry, color, citizenship, physical or mental disability, perceived disability or history or record of a disability, ethnicity, gender, gender identity or expression, genetic information, genetic characteristic, marital or domestic partner status, victim of domestic violence, family status/parenthood, medical condition, military or veteran status, national origin, pregnancy/childbirth/lactation, colleague’s or a dependent’s reproductive health decision making, race, religion, sex, sexual orientation, or any other category protected by federal, state and/or local laws. At Citizens, we are committed to fostering an inclusive culture that enables all colleagues to bring their best selves to work every day and everyone is expected to be treated with respect and professionalism. Employment decisions are based solely on merit, qualifications, performance and capability.