Responsibilities

Job Summary

The Managing Director of Portfolio Construction is a key leadership role within the investment team. This senior investment leader collaborates closely with the Chief Investment Officer while leading a team of analysts to develop, manage, and deliver 18349s investment platform.

The scope of this role9s responsibilities related to 18349s investment platform includes (1) maintaining due diligence coverage on third-party managed products, (2) managing allocation models, where our guidance across asset allocation, manager selection, and proprietary security selection becomes cohesive portfolio guidance for our portfolio managers, (3) overseeing third-party platforms (including those related to alternative investments and equity UMAs), and (4) providing custom analytics and portfolio strategies for 18349s largest and most complex client portfolios.

Good candidates for this role will possess:

• Deep technical understanding of financial markets and portfolio theory

• The strong quantitative skillset required to develop and maintain reliable and rigorous processes for managing portfolio risk while competing with benchmark returns across a broad spectrum of investor constraints

• Exceptional skill in communicating investment decisions, rationale, and results to a variety of audiences, internal and external to the firm

• Affinity toward coaching, mentoring, and developing talent within a team of investment analysts

Salary Range

The salary range for this position is $130,500/Yr. - $263,800/Yr.. The base salary indicated for this position reflects the compensation range applicable to all levels of the role across the United States. Actual salary offers within this range may vary based on a number of factors, including the specific responsibilities of the position, the candidate9s relevant skills and professional experience, educational qualifications, and geographic location.

Key Accountabilities

Asset Allocation

• Develop and maintain strategic asset allocation guidance across client risk and constraint profiles

• Own the capital market assumption and SAA optimization process with input from CIO and senior research colleagues

• Coordinate and manage implementation of tactical asset allocation guidance, with support and input from CIO and senior investment colleagues

• Develop and communicate guidelines for prudent use of alternative investments as a part of a long-term investment strategy for suitable clients

Model Portfolio Guidance

• Manage a range of allocation models toward strong, long-term, risk-adjusted returns

• Oversee the manager selection and due diligence process to (1) maintain a high standard of integrity and excellence across third party asset managers with whom we entrust client capital, and (2) ensure cohesion and diversification within client portfolios across both proprietary and third-party solutions utilized

Risk Management

• Continuously monitor risk levels across allocation models, including benchmark-relative tracking error, factor exposures, concentrations, and drift.

• Produce and present performance attribution on a regular basis to oversight committees and to colleagues and other internal stakeholders

• Set and maintain rebalancing policy for centrally managed portfolios, coordinating with investment operations group to ensure efficient and effective trading toward updated investment guidance at large scale

Governance and Compliance

• Consistently document portfolio construction methodology, model changes, and investment decision-making

• Ensure that the investment platform offers solutions for all clients, in terms of meeting fiduciary, suitability, and bank regulatory requirements

• Provide support and education to client-facing portfolio managers to ensure that suitability guidelines are observed and enforced with regard to alternative investments and/or other applicable investment strategies

• Collaborate with compliance, risk, and legal teams on maintaining proper policies and procedures, and in preparation for audits and/or regulatory exams

Support of Client-Facing Advisors and Portfolio Managers

• Communicate in a timely and thorough fashion (via internal meetings, email, intranet sites, etc.) allocation and model changes to client-facing portfolio managers, advisors, bankers, planners, etc., including the supporting rationale

• Provide custom portfolio analytics support to client-facing portfolio managers and advisors for large and/or complex client and/or prospect allocations, including investment strategy proposals

• Contribute to 1834 Research Institute publications on an ad-hoc basis and as directed by CIO

Leadership

• Hire, develop, and manage the portfolio construction team and its related functions (manager research, asset allocation) while fostering our client-first culture within everything the team does

• Lead discussions within investment team meetings as a subject matter expert on a variety of topics

• Coordinate with client portfolio management, trading, operations, IT, sales, and other functions to enhance the client experience and investment outcomes on an ongoing basis

• Participate in efforts to grow our business through public speaking engagements, opportunities to demonstrate thought leadership, and attendance at a limited number of high-value client/prospect meetings

Key Measures of Success/Key Deliverables:

• Achieving good risk-adjusted investment performance across assigned strategies within prudent absolute and relative risk management parameters

• Maintaining a high level of rigor within the investment process that will ensure sound risk management while maximizing the rate at which our clients9 asset compound, within applicable constraints and net of all relevant factors, including taxes, fees, and transaction costs

• Supporting investment team efforts in maintaining client retention of 98%

• Maintaining low employee turnover among direct and indirect reports

Candidate Qualifications and Preferred Attributes:

Qualified candidates will possess:

• A bachelor9s degree in business, finance, economics, mathematics, or other applicable field of study

• 10+ years of investment industry experience, including significant experience in an investment decision-making capacity with respect to institutional and/or high net worth portfolio management

• A deep, demonstrable understanding of and experience with not only traditional assets (public equities, fixed income) but also alternative investments (i.e., private markets, real assets, hedge funds, etc.)

Preferred candidates will possess:

• Experience with relevant analytical platforms/tools such as Bloomberg Terminal, Morningstar Direct, FactSet, and/or others

• CFA designation, or other advanced designations such as CAIA, FRM, etc.

• A graduate degree such as MBA, MSF, MMF, or other related fields