At Harris, the true value of what makes us successful is found in our people. It is our unique mix of cultures, experiences, beliefs and backgrounds that sets Harris apart from the rest. We constantly strive to cultivate, nurture and amplify an unparalleled environment, where we value intellectual curiosity and uniqueness of thought. Inclusion is embedded in the very fabric of our culture of collaboration and openness.
We understand that a job description only tells one part of a broader story, and Harris is seeking dynamic candidates who can add to our best-in-class environment. We recognize that qualifications can be gained through both traditional and non-traditional paths, and we are committed to considering candidates who possess the potential to be excellent in this role regardless of prior experiences.
Therefore we encourage ALL interested individuals to submit their applications, even if they do not meet every requirement outlined in the job description.
The Position
The Portfolio Implementation team directly supports Portfolio Managers and builds relationships internally with Trading, Client Service, Product Managers, Legal and Compliance counterparts, and other operational teams.
On a day-to-day basis, Portfolio Implementation Specialists actively monitor portfolios and markets to assist Portfolio Managers in the management of client assets. The Portfolio Implementation team is positioned between Portfolio Managers and the Harris trading desk to support all Harris product types and is responsible for performing order origination, pre-trade compliance, cash flows and dispersion monitoring. The Manager, Institutional Portfolio Implementation leads a team of Portfolio Implementation Specialists, encouraging them to utilize critical thinking skills to provide creative solutions and develop key tools to support the Portfolio Management team.
The Manager of Institutional Portfolio Implementation will serve in both an individual contributor role and manager role. Success in this role means having a proactive, hands-on, and collaborative attitude. This individual will need to excel in a fast-paced, time-sensitive environment and be proactive in establishing productive relationships with key stakeholders throughout the process.
Responsibilities - Collaborate with Portfolio Managers and Traders to facilitate the implementation of investment strategies for all Harris client and product types, including funds, institutional, and model delivery relationships.
- Oversee and lead the day-to-day operations of the Institutional Portfolio Implementation team by coaching for performance, providing constructive feedback, facilitating development and fostering a positive team dynamic; act as point of escalation for team members.
- Perform dispersion monitoring and provide recommendations to Portfolio Managers on portfolio rebalances; provide suggestions for portfolio adjustments.
- Conduct all pre-trade compliance reviews and monitor portfolio positions versus client and regulatory guidelines. Propose adjustments to Portfolio Managers to ensure adherence to guidelines. Liaise with Compliance, Client Service, and PMs on guideline resolutions.
- Review and monitor cash levels across all products. Perform cash flow management to meet client cash directives.
- Perform client account onboarding activities and transitions. Translate written client guidelines into enforceable rules in Charles River IMS. Participate in IMA review process and provide feedback on behalf of Portfolio Management team.
- Respond to ad hoc requests from Portfolio Managers. Pro-actively provide analytical support and improvement suggestions to portfolio management deliverables.
- Perform trading updates for model delivery clients in accordance with trade rotation policy.
- Understand, originate and validate derivative transactions.
- Coordinate responses with PM team for corporate action elections.
- Facilitate the due diligence and implementation of unique portfolio management scenarios, including, but not limited to in-kind transfers, account open/terminations, cross trades, secondary offerings and private placements.
- Engage in error remediation process and provide suggestions for controls.
- Develop and oversee business process improvements, automations and enhancements.
- Independently perform order management workflows and analyze portfolios within the platform.
- Work cross-functionally with various departments across the firm such as:
- Technology to lead efforts to enhance Charles River.
- Traders to ensure they have necessary information to provide best execution.
- Operational teams to ensure proper monitoring is in place for cash and positions to facilitate accurate trading/reporting to Portfolio Managers.
- Demonstrate deep mastery of all standard Portfolio Implementation workflows and perform oversite and guidance to junior members of the team. Learn advanced workflows and specialty order/trading situations.
- Assist in new product development and testing process.
- Ensure controls and procedures for order origination and compliance monitoring are documented, maintained, followed, and meet SOC requirements.
- Lead team meetings to discuss relevant issues such as changes in procedures, controls in place, process improvements, projects, issues, etc.
- Design and adjust departmental procedures in conjunction with changing business needs such as new products and strategies, regulatory change and re-organizations.
Qualifications
Required
- Bachelor’s degree with a strong academic track record.
- Minimum 7 years of relevant experience in the investment management industry.
- Proficiency working with Charles River IMS.
- Knowledge of investment process and understanding of various product types.
- Experience reviewing client and regulatory guidelines.
- Excellent organizational skills and attention to detail, ability to manage competing priorities and deadlines.
- Excellent interpersonal skills with the ability to work with all levels of stakeholders with a high degree of integrity, professionalism and maturity.
- Collaborative and ability to work independently and as a member of a team.
- Ability to make complex determinations and utilize critical thinking skills to anticipate portfolio management needs.
- Knowledge and understanding of in-depth tax trading strategies to suggest to portfolio managers.
- Thrive in a fast-paced, dynamic environment while handling multiple priorities concurrently and managing business expectations.
Willingness to learn
- Bloomberg/FactSet
- Salesforce
Special Requirements:
Work hours are primarily 7:00 AM to 3:00 PM (or later) but may periodically rotate to provide coverage and could range from 5:30 AM to 1:30 PM (or later), or other depending on the needs of the organization. After hours and holiday on-call rotating support will be required in both primary and back-up roles to enter trades during Asian and European trading hours (i.e. 5:30 PM until 5:30 AM). This individual must be willing to serve as a back-up to other team members who may be on different work schedules and must be flexible as s/he may be requested to adjust work schedules as needed.
We offer a comprehensive benefits package designed to integrate life and work and to support our employees and their families. Benefits include, but are not limited to; medical, prescription drug, dental and vision insurance, paid time off, profit sharing plan, 401k plan, tuition reimbursement, commuter and holistic wellness benefits along with volunteer programs.
Actual annual base salaries may vary based on factors including but not limited to education, training, experience, and other job-related factors. If hired, base pay will be determined on an individualized basis and is only one part of the total compensation package, which, depending on the position, may also include a discretionary performance bonus and other Harris sponsored benefit programs.
Expected range for this Chicago-based role
$135,000 - $150,000 USD
Equal Employment Opportunity Policy Statement
Harris Associates L.P. pursues a policy of equal opportunity in all areas of employment including recruitment, hiring, training, compensation, benefits, advancement, and treatment on the job. This means that Harris does not discriminate against employees, or qualified applicants, based on an individual's race, color, religion, creed, sex, age, national origin, physical disability, sexual orientation, trans-gender status, transsexual status, status as a veteran or disabled veteran, genetic information or for any other reason prohibited by law. Harris reserves the right to review publicly available information about applicants (i.e., via social networking sites), to the extent permissible under applicable law.
Reasonable Accommodation Notice
We provide reasonable accommodation for individuals with disabilities and disabled veterans in job application procedures. If you have any difficulty using our online system and you need an accommodation due to a disability, you may use the alternative email address below to contact us about your interest in employment at HR@harrisassoc.com or you can call us at 312-646-3600.
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