Portfolio Manager III
Bank of America
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Benefits offered by this job
Job summary
Bank of America in Melville, NY seeks a senior investment advisor to design and manage discretionary portfolios for high-net-worth clients. You will allocate assets, select securities, and monitor risk in collaboration with a regional wealth team.
The role requires extensive experience in wealth management, fiduciary practices, and client relationship leadership, with a commitment to ethical standards and compliance. Strong communication and market insight are essential.
Qualifications
- Minimum of 10 years of investment decision making and financial consulting experience with high-net-worth and ultra-high net worth clients.
- Held positions of increasing responsibility at a prestigious financial services firm in wealth management, private banking or trust.
- Knowledge of fiduciary standards, fiduciary laws, and related regulations.
- Broad-based knowledge of investments, tax, legal and operations for servicing clients.
- Strong leadership, delegation, and relationship-management skills.
Responsibilities
- Understand the client's situation to tailor an investment strategy to their goals and objectives.
- Manage all aspects of the client's investment portfolio including asset allocation, construction, and risk management.
- Collaborate with teammates to deliver integrated solutions across equities, fixed income, and alternatives.
- Engage with clients to review performance and discuss market conditions and changes.
- Stay up-to-date with Chief Investment Office guidance, market conditions and economic trends to mitigate risks.
- Develop meaningful client relationships with high standards of care and ethics.
Skills
Education
Job description
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day. Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates' physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve. Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact.
This job is responsible for working with complex, high-net-worth investors to create customized investment strategies. Key responsibilities include evaluating, designing, constructing, managing, and monitoring all aspects of discretionary portfolio management including asset allocation, portfolio construction, security/manager selection, trade execution, risk management and compliance, investment reviews, and proactive client communication. Job expectations include helping teams to drive client retention and business development, while mentoring associates.
- Works to understand the client's situation and circumstances to develop and recommend an investment strategy tailored to their unique goals and objectives
- Manages all aspects of the client's investment portfolio including asset allocation, portfolio construction, security/manager selection, trade execution, risk management and compliance, and investment reviews
- Collaborates with teammates to deliver the bank's full array of integrated solutions, such as equities, fixed income, alternative investments, and Specialty Asset Management as appropriate
- Engages with clients to review investment performance and anticipated market changes based on economic and industry analysis
- Stays up-to-date on recommendations from the Chief Investment Office, current market conditions, and economic trends to anticipate and mitigate investment risks
- Develops meaningful relationships with clients, while demonstrating the highest care, skill, diligence, and ethics
- Minimum of 10 years of investment decision making and financial consulting experience working with high-net-worth and ultra-high net worth clients
- Has held positions of increasing responsibility with an established and prestigious financial services firm, most likely in a wealth management, private banking and/or trust field
- Knowledge of fiduciary and financial products and services through extensive related work experience
- Broad-based technical knowledge of investments, tax, legal and operations necessary to service clients
- Knowledge of fiduciary standards, principles and applicable laws and regulations usually acquired through training, seminars or law school
- Skills and experience in negotiating, delegating and leadership
- Superior client service and relationship management skills
- Bachelor's Degree in Finance, Accounting, Economics or related field or equivalent financial services/business experience
- Graduate Degree such as MBA or JD
- Holds appropriate credentials such as CPA, CFP and/or CFA designation
- Advisory: Client Investments Management
- Customer and Client Focus
- Investment Management
- Presentation Skills
- Active Listening
- Analytical Thinking
- Attention to Detail
- Client Experience Branding Valuation Ethics and Practice Standards
- Collaboration
- Critical Thinking
- Data Quality Management
- Trading
- Written Communications
High School Diploma / GED / Secondary School or equivalent
Shift: 1st shift (United States of America)
Hours Per Week: 40
Location: US - NY - Melville - 300 BROADHOLLOW RD - BANK OF AMERICA (NY5529) Pay and benefits information
Pay range $135,600.00 - $300,000.00 annualized salary, offers to be determined based on experience, education and skill set.
Discretionary incentive eligible. This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.
This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day. One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being. Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization. Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference.
Partnering Locally – Learn about some of the ways Bank of America is making a difference in the communities we serve. Global Impact – Learn about the six areas that guide Bank of America’s efforts to help make financial lives better for customers, clients, communities and our teammates. Opportunity and Inclusion – We see opportunity and inclusion as our platform for innovation and a key component in our success. Our Values – Learn about our four values that represent what we believe.
Pay Transparency: https://careers.bankofamerica.com/en-us/pay-transparency
Privacy Statement: https://careers.bankofamerica.com/en-us/privacy-notice
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