Private Wealth Portfolio Manager

Citizens; Boston (MA); Hybrid; USD 100,000 - 126,000; Full time

Benefits offered by this job

Medical, dental & vision coverage

Retirement benefits

Flexible work arrangements

Education reimbursement

Wellness programs

Job summary

Citizens Private Bank in Boston seeks a Portfolio Manager to oversee day-to-day management of high net worth and institutional client portfolios. You will rebalance according to the Investment Policy Statement and coordinate with Investment Managers to meet risk/return objectives.

This is a middle-office, nonclient facing role focused on liquidity, compliance, and performance monitoring, with 40 hours/week and a 4-day in-office schedule plus 1 day remote.

Qualifications

• 3-5+ years of experience in portfolio management, investment operations, or asset management within a Private Bank, Wealth Management, or Institutional environment.
• Demonstrated experience managing high-net-worth and/or institutional portfolios, including asset allocation, rebalancing, and liquidity management.
• Strong knowledge of Investment Policy Statements (IPS) and risk/return objectives.

Responsibilities

• Rebalance accounts according to the Investment Policy Statement with guidance from the asset allocation team.
• Invest client portfolios to meet risk/return objectives with Investment Managers and Bankers.
• Handle initial funding, annual reviews, and regulatory requirements (Reg 9).
• Monitor asset allocation, benchmarks, and performance deviations against models and grids.
• Prepare monthly composites and reports; support with client-specific targets and tracking errors.

Skills

Portfolio management

Attention to detail

Analytical skills

Education

Bachelor's degree in Finance/Business

CFA/CAIA/CFP preferred

Tools

Microsoft Excel

Portfolio management systems

Job description

Description

The 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
• 4 day in office requirement/WFH 1 day

Pay Transparency

The salary range for this position is $100,000.00 - $126,000.00 per year, plus an opportunity to earn additional incentive earnings. 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.

Equal Employment Opportunity

Citizens, its parent, subsidiaries, and related companies (Citizens) provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to age, ancestry, color, citizenship, physical or mental disability, perceived disability or history or record of a disability, ethnicity, gender, gender identity or expression, genetic information, genetic characteristic, marital or domestic partner status, victim of domestic violence, family status/parenthood, medical condition, military or veteran status, national origin, pregnancy/childbirth/lactation, colleague’s or a dependent’s reproductive health decision making, race, religion, sex, sexual orientation, or any other category protected by federal, state and/or local laws. At Citizens, we are committed to fostering an inclusive culture that enables all colleagues to bring their best selves to work every day and everyone is expected to be treated with respect and professionalism. Employment decisions are based solely on merit, qualifications, performance and capability.

Why Work for Us

At Citizens, you'll find a customer-centric culture built around helping our customers and giving back to our local communities. When you join our team, you are part of a supportive and collaborative workforce, with access to training and tools to accelerate your potential and maximize your career growth.

Posting End Date: 10/26/2026