Retirement Plan Investments - Portfolio Manager

Job Description:

This investment management role is part of the Retirement Plans Investments (RPI) team which is predominately focused on managing the assets/investments of the Bank of America retirement plans that include defined benefit plans, 401(k) plans and deferred comp plans.   

The scale of the task of managing these asset pools is evidenced by Pensions & Investments annual ranking of the 1,000 largest U.S. retirement plans by fund sponsor.   Within this listing, Bank of America’s U.S. retirement plans rank as the 36th largest pool of retirement assets (inclusive of public plans) and 10th largest for private/corporate employers.  The $18 billion of pension assets and $58 billion 401(k) plan assets place these plans in the “mega” plan category. 

Position responsibilities include:

• Acting in the capacity of an ERISA plan fiduciary
• Responsible for producing analysis used to manage and evaluate the plan assets and manager performance
• Supports the quarterly and annual financial reporting for the plans.  Activities include supporting the financial accounting process for the plans (asset values relative to expectations based on market returns), the corporate forecasting process (developing expected returns and liability valuation metrics under different economic scenarios) and developing performance monitoring management reporting for the pension and 401(k) plans.
• Developing market knowledge of asset classes and investment strategies
• Developing knowledge of deferred compensation plans and evaluating investment strategies of trust assets.  Make recommendations related asset allocation and wind down strategies.
• Participate and assist in conducting thorough due diligence reviews of both prospective and incumbent investment strategies/managers
• Develop, monitor and assess all aspects of a limited group of investment strategies (e.g., Stable Value), including performance attribution, portfolio management team and the investment management company.
• Oversee assigned investment strategies and relationship with external money managers
• Develop market knowledge of the different asset classes
• Perform research & analysis on different aspects of institutional asset management (e.g., asset class fees, trading costs, expected performance, correlations)
• Performing other duties/research projects as assigned

Through these responsibilities, the incumbent will interact with leading institutional investment management firms, investment consultants, actuarial services firms, finance teams and legal groups.   The role offers an opportunity to develop an in-depth understanding of investment strategies, portfolio management, institutional asset management products and the responsibilities associated with investment administration of ERISA plans (defined benefit plans and defined contribution plans)

Required Knowledge, Skills & Experience:

• Graduation from an accredited four year college or university with a Bachelor’s degree or equivalent years of experience
• Knowledge of, and experience in institutional asset management (2+ years of experience)
• Developing knowledge and understanding of the capital markets
• Knowledge of Investment concepts, terminology, styles, asset allocation, and performance measurement
• Inquisitive, willing to challenge the status quo and strive to improve processes
• Effective at working collaboratively and business partnering
• Ability to work with a high level of autonomy, make well-reasoned decisions and in an ethical manner
• Possess analytical abilities/financial acumen/problem solving skills
• Strong communication/interpersonal skills
• Proficient in MS Office tools (Excel – advanced user) & tableau

Desired Skills & Experience:

• CFA / MBA  - working towards or relevant experience
• 3+ years Institutional Asset Management experience 
• Multi-asset class knowledge across public and private markets
• Demonstrated ability to efficiently learn and apply financial concepts
• Ability to establish and maintain professional relationships with portfolio managers, actuaries, trustees, auditors, etc.
• Principles and practices of institutional investment management and modern portfolio theory
• Forecast/Planning/Management Accounting/Project Management Experience
• Knowledge of ERISA Retirement Plans

Shift:

Hours Per Week: