Job DescriptionThe Portfolio Management Group (PMG) is responsible for the day to day management of Citizens Private Bank and Institutional client portfolios. The
Private Wealth Portfolio Manager provides portfolio management services for high net worth and institutional client accounts within the Private Bank, while meeting all compliance requirements for managing portfolios are met. This is a middle office, nonclient facing position, responsible for managing the day/day strategies, objectives, risk/return and liquidity needs for the client. In addition to managing client portfolios, the role will have responsibility for assigning benchmarks, targets and composite recon for our client portfolios. Quarterly, semiannual, or annual rebalancing, annual regulatory account reviews and tracking errors to benchmarks and account performance to asset allocation grids will be key measures of portfolio manager performance.
Primary responsibilities include- Rebalance accounts according to the client's investment policy statement, with guidance of the asset allocation strategy team.
- Work directly with Investment Managers and Bankers to invest client portfolios according to the Investment Policy Statement, and to meet client risk/return objective.
- Responsible for initial funding and investment of accounts, annual account reviews, Reg 9's, initial account reviews, concentrated assets, divestiture plans.
- Deep understanding of client relationships to develop investment plans for accounts to align closer with firm strategy within client expectations. Review and resolve exception reporting related to asset allocation, nonapproved assets, and performance exceptions.
- Assigning and monitoring benchmarks, targets, and tracking error relative to asset allocation models.
- Assist with reporting for the team and assign client specific targets, benchmarks, and perform monthly composite recon.
Qualifications, Education, Certifications and/or Other Professional Credentials- 3-5+ years of experience in portfolio management, investment operations, or asset management within a Private Bank, Wealth Management, or Institutional investment environment.
- Demonstrated experience managing high-net-worth and/or institutional portfolios, including asset allocation implementation, rebalancing, and liquidity management.
- Strong working knowledge of Investment Policy Statements (IPS) and experience managing portfolios in accordance with defined risk/return objectives.
- Hands-on experience with account funding, rebalancing, benchmark assignment, performance monitoring, and composite reconciliation.
- Solid understanding of Reg 9 requirements, annual regulatory account reviews, and compliance standards applicable to fiduciary or PB Trust accounts.
- Ability to analyze and resolve exception reporting, including asset allocation variances, non-approved assets, and performance deviations.
- Proven ability to collaborate effectively with Investment Managers, Bankers, and internal partners to execute portfolio strategies.
- High attention to detail with strong organizational skills to manage multiple portfolios, deadlines, and reporting requirements simultaneously.
- Tech Savvy: Proficiency with portfolio management systems, performance reporting tools, and Microsoft Excel.
- Bachelors degree in Finance, Business Administration, or a related discipline.
- Professional designations such as CFA (or progress toward CFA), CAIA, or CFP (preferred)
- Strong Attention to detail - Excellent communication skills
- Strong quantitative and analytical skills with the ability to interpret portfolio performance and risk metrics.
- Demonstrated experience working on team-level reporting and operational process improvements.
Hours & Work Schedule- Hours per Week: 40
- Work Schedule: M-F
- Locations: Westwood, MA, Johnston, RI
- 4 day in office requirement/WFH 1 day
Pay Transparency The salary range for this position is $98,000.00-$124,000.00 per year plus an opportunity to earn an annual discretionary bonus. Actual pay is based on various factors including but not limited to the budget, 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 .
