PORTFOLIO ASSOCIATE

Compensation

: $162,550.00 - $162,550.00 /year *

Employment Type

: Full-Time

Industry

: Financial Services - Banking/Investment/Finance



SUMMARY

The Portfolio Associate will work with one or more 1919IC Portfolio Managers (PMs) and will be responsible for day-to-day administrative management of individual client, institutional and trust portfolios. High touch client service is a hallmark of 1919IC; the candidate should be skilled in and enjoy client service and should have experience working closely with clients. The Portfolio Associate must stay current on financial markets and instruments and comply with firm policies and procedures. As for experience requirements, a combination of education and internships relating to Private Wealth Management may be considered acceptable.

MAJOR DUTIES

  • Assist with account openings, trust distributions, and account terminations which includes but is not limited to: receiving assets, obtaining cost basis, stepping up cost basis, distributing assets, handling disbursements, processing cash, delivering in-kind charitable contributions, determining appropriate paperwork and governing documents, and ensuring correct client billing.
  • Closely monitor investment portfolios for asset allocation, cash, maturities, and settlements to ensure that funds are available to clients and that portfolios are within policy. Instructing custodians to wire funds or prepare checks at the request of the client after review and approval by Senior Portfolio Associate or Portfolio Manager
  • Handle client's personal needs (tuition payments, interaction with attorneys and other third parties, outside personal accounts, family related issues, etc.) and provides client and/or their accountant with tax information.
  • Proactively review clients' security holdings and daily transaction activity. Coordinating with trading, operations and external advisors to ensure that positions and asset values are up to date and accurate.
  • Maintain telephone and written contact with clients and third parties, including drafting client correspondence for review and approval.
  • Coordinate the preparation of presentation materials for client and prospective client meetings. May attend client meetings.
  • Review all reports, including performance, for accuracy and works with Operations to ensure accurate client reporting. Tests new applications, updates and fixes.
  • Update relevant information in portfolio management and trust accounting systems.
  • Must be available to work additional hours as needed.

QUALIFICATIONS

  • Bachelor's degree required.
  • Minimum 1-3 years experience in Financial Services, preferably Private Wealth Management/Portfolio Administration.
  • Proven experience work with "High-touch" client services.
  • Knowledge of economic and accounting principles and practices, the financial markets, the industry, the analysis and reporting of financial data, and associated terminology.
  • Knowledge and experience using analytical skills
  • Proficient in Microsoft Excel, Word, PowerPoint, Outlook
  • Experience with Adobe, FactSet, Bloomberg
  • Experience with Advent APX, Moxy and Trust Accounting Systems

Associated topics: bond, buy, dow jones, equity, invest, market, purchase, risk, sell, trader * The salary listed in the header is an estimate based on salary data for similar jobs in the same area. Salary or compensation data found in the job description is accurate.

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