Portfolio Construction Manager

Brown Brothers Harriman•New York, NY

3d•Hybrid

About The Position

At BBH, Partnership is more than a form of ownership—it’s our approach to business and relationships. We know that supporting your professional and personal goals is the best way to help our clients and advance our business. We take that responsibility seriously. With a 200-year legacy and a shared passion for what’s next, this is the right place to build a fulfilling career. In this role you will be responsible for the implementation of recommended investment strategies in client portfolios. This position assists in managing clients’ assets including cash, equities, fixed income, and private investments while acting as a liaison with the relationship managers regarding these investments. The Portfolio Construction Manager implements investment programs approved by the BBH portfolio managers and BBH’s Investment Research Group. Trades are sized and pre-trade compliance is performed before sending to BBH’s trade execution team. Post trade reviews and controls are also performed to ensure the accuracy of both the individual trade and the overall portfolio in relation to a client’s Investment Policy Statement. The Portfolio Construction Manager will support for one off trades, both client and RM directed, as well as specialty trades such as control persons trades directed by insiders or control persons of publicly traded corporations. This role will also implement tax strategies such as annual tax loss harvesting across relationship teams. The Portfolio Construction Manager will execute on those responsibilities related to the Centralized Portfolio Implementation (CPI) initiatives which includes execution of all equity, and fixed income trades, unilaterally implementing asset allocation changes, monitoring, and correcting portfolio drift, deploying and raising cash in client portfolios as needed, including Wealth Strategies and Private Funds while ensuring clients’ accounts are managed properly to their signed IPS. The Portfolio Construction Manager will oversee daily operations and manage the daily workflows of the team. He/she will be responsible for defining goals, communicating objectives, and monitoring team performance to ensure tasks are completed efficiently. The Manager will be responsible for documenting procedures, ensuring Risk Control Self Assessment (RCSA) remains up to date, documents and records errors in our firmwide E&O database (FRED) and ensure the team is operating withing BBH policies. He/she will also be responsible for mentoring team members to enhance their skills and support their career growth.

Requirements

Bachelor's degree required
7+ years of Financial Services, with at least 3+ years in Portfolio Management
3+ years of managerial experience required
Must have strong Excel and PowerPoint

Nice To Haves

Prior trading and/or portfolio implementation experience highly preferred
Charles River experience, a plus

Responsibilities

Implement equity strategies across accounts based on account-level coding, taking into account client restrictions and trading guardrails established in the client Investment Policy Statement.
Represent and explain portfolio implementation services to relationship teams.
Perform variance checks on SMA trades for the respective names traded to ensure the proper trades were executed based on the requests provided by the PM.
Perform trade block review to ensure the correct weights are traded.
Manage and invest discretionary cash from subscriptions and redemptions, new cash or withdrawals of cash, and changes in Investment Policy Statements.
Ensure CPI investments or divestitures are in line with RM expectations and clients Investment Policy Statement.
Rebalance accounts to keep them in line with the account’s Investment Policy Statement in a tax efficient and prudent manner.
Review account codings and account restriction requests to ensure alignment with account investment objectives.
Perform account coding review for all the allocations to ensure the correct SMA codes are traded.
Ability to problem solve, evaluate options, and take initiative while considering impact on team and organization.
Develop strong interpersonal relationships with team and Front Office.
Articulate clear vision and goals that align with the investment implementation support Pillar.
Communicate effectively both verbal and in writing.
Oversee daily operations and manage the daily workflows of the team.
Define goals, communicate objectives, and monitor team performance to ensure tasks are completed efficiently.
Document procedures, ensure Risk Control Self Assessment (RCSA) remains up to date.
Document and record errors in our firmwide E&O database (FRED) and ensure the team is operating within BBH policies.
Mentor team members to enhance their skills and support their career growth.