Bank of America Institutional Support Specialist - Chicago, IL in Chicago, Illinois
U.S. Trust, Bank of America Private Wealth Management is a leading private wealth management organization providing vast resources and customized solutions to help meet clients' wealth structuring, investment management, banking and credit needs. Clients are served by teams of experienced advisors offering a range of financial products and services, including investment management, financial and succession planning, philanthropic and specialty asset management, family office services, custom credit solutions, financial administration and family trust stewardship.
U.S. Trust is part of the Global Wealth and Investment Management unit of Bank of America, N.A., which is a global leader in wealth management, private banking and retail brokerage. U.S. Trust employs more than 4,100 professionals and maintains 135 offices in 33 states.
The Institutional Support Specialist provides primary client servicing, portfolio servicing, and support to a team of Institutional Portfolio Strategists. He/She interacts with external institutional clients and internal partners, such as Relationship Management associates in Philanthropic Management and Business Retirement Services at all levels. This role requires exceptional client servicing skills, as he/she will be the first point of contact for the clients, which will enable the Institutional Portfolio Analysts to focus their attention on internal, analytical activities regarding institutional portfolio construction.
The Institutional Support Specialist is charged with supporting a team of Portfolio Strategists and Institutional Portfolio Managers. The core responsibilities involve providing risk oversight support/advice and portfolio management support services to our institutional clients. The Institutional Support Specialist is a team player who has excellent communication skills, and is able to operate independently as well as in a team environment. An ideal candidate will be able to manage periodic high volume tasks along with multiple, sometimes conflicting, priorities. Possessing above average computer proficiency, institutional investment knowledge, and a high level of professionalism are also attributes for success. An undergraduate degree in finance, accounting, economics or equivalent is preferred. Key responsibilities of the role include:
Facilitating the preparation of meeting materials, resolve performance outliers, and manage fixes with admin and global delivery.
Teaming with Portfolio Management Assistant(s) to ensure consistent support for your assigned PS/PM teams.
Ensuring knowledge of organizations risk goals and facilitate the compliance of all risk monitoring protocols such a investment policy statements, asset allocation monitoring, etc; Act as a subject matter expert on all risk policies associated with managing client portfolios
Monitoring/facilitating client on-boarding/transition management for new accounts resulting in error free account set up process and timely account set up and investment of funds.
Facilitating the creation and maintenance of Investment Policy Statements
Executing portfolio re-balancing trading due to liquidity needs, bond maturities, and excess cash, buy/sell implementation, investment recommendation implementation - deployment of cash liquidation of positions.
Executing trade order entry for portfolio transactions and manager replacements, and oversee trading on our automated trading (AAA) system.
Reg. 9 meeting preparation, review exceptions and recommend strategy to resolve exceptions.
Executing appropriate steps to maintain asset allocation guidelines using the AAM tool.
1+ year’s experience of institutional investments, performance measurement and/or asset allocation a plus.
5+ years of investment experience
A team player with excellent communication skills, computer proficiency and high level of professionalism.
Proficiency in MS Office applications, with advanced knowledge of Excel and PowerPoint a strong plus.
Strong organizational skills and initiative with systematic follow-up.
Must have an undergraduate degree in Finance, Accounting, Economics or equivalent; capable and committed to pursuing CPA, CFP, CFA, CIMA, and or MBA.
FACTSET and/or Morningstar experience
Knowledge of First Rate, Portview, Reg 9 and PACE technology systems.
Posting Date : 08/24/2017
Location : US-IL-Chicago
Travel : No
Full / Part-time : Full time
Hours Per Week : 40
Shift : 1st shift
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