Portfolio Manager I (PM I), Private Bank

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. Join us!

Portfolio Manager I (PM I), Private Bank (PB), Providence, RI -

This job is responsible for working with complex, high-net-worth investors to create customized investment strategies under the guidance of a Portfolio Manager. 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.

Responsibilities:
• Partners with teammates to understand the client's situation and circumstances to develop and recommend an investment strategy tailored to their unique goals and objectives
• Supports 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
• Support Private Wealth teams, Private Client Advisors (PCAs), Private Client Managers (PCMs), Trust Officers (TOs), and Portfolio Managers (PMs) in effectively communicating investment philosophy and range of investment and non-investment solutions and regularly participate in client and prospect meetings
• Partner and support Senior PMs including facilitating client requests, Reg 9 due diligence preparation, handle trade order entry for portfolio transactions & administration of custody account trades & performance
• Ensure timely investment of funds into new accounts
• Analyze and make appropriate AA recommendations to the PM
• Partner with Senior PM to service existing book and to provide additional capacity for prospect meetings
• Independently conduct portfolio review meetings with clients
• Management of investments and asset allocation for small subset of Sr. PM’s book (less complex HNW portfolios)
• Rebalance existing portfolios according to Private Bank AA guidelines
• Attend various, business critical internal and team meetings
• Create and build investment content for prospect presentations & investment reviews with existing clients

Qualifications:
• A minimum of 3-5 years of experience in the financial services industry
• Knowledge of fiduciary and financial products and services
• Strong communications skills, personal drive and initiative, and a high degree of professionalism
• Undergraduate degree in Finance, Accounting, Economics or equivalent preferred as well as progress toward designations such as CPA, CFP, CFA, CIMA, CAIA and/or MBA

Skills:
• 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

Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent

For internal employees: participation in a work from home posture does not make you eligible to post.

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - RI - Providence - 1 Financial Plz - 1 Financial Plaza (RI1537)

Pay and benefits information

Pay range

$89,500.00 - $150,000.00 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.

Benefits

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.