Analyst, Portfolio Implementation
RBC, Minneapolis, MN, United States
Overview
The Portfolio Implementation Team (PIT) serves as RBC’s internal overlay manager and acts as the primary group supporting UMA portfolio model management for the firm’s discretionary UMA product across the RBC US Wealth Management distribution channel. The PIT Team manages daily and ongoing operational and trading responsibilities associated with portfolio model management. The Portfolio Implementation Analyst provides support to ensure investment strategies delivered by investment managers are properly executed according to policies and procedures, and is responsible for the day-to-day planning, decision making and execution of the PIT trading processes for various model portfolios, both externally and internally delivered. The role aligns to the RBC Wealth Management strategy of client service.
Responsibilities
Relationship Management
Assist with on-boarding of internal/external model providers.
Interact with internal/external model providers to ensure accurate and timely model portfolio change processing.
Coordinate with internal/external model providers to ensure smooth communication and timely exchange of information.
Collaborate with model providers and other partners to optimize trading processes while reducing risk and potential for error.
Answer trading-related questions for RBC WM US field users (advisors, investment associates, client associates, etc.) and provide limited platform support.
Portfolio Management
–
approximate time 80%
Support day-to-day portfolio management and trade processing of model portfolios through client service, leadership and execution.
Implement new account asset allocations and investment fulfillment.
Implement and monitor client-specific constraints and guidelines.
Account re-balancing and updates according to model providers and asset-class weights.
Facilitate cash flows, contributions and withdrawals.
Monitor asset allocation guidelines and model drift/dispersion.
Monitor model management and allocation.
Monitor corporate actions and reorganizations for timely and accurate implementation.
Process new accounts and terminated accounts.
Assist and review portfolio risks and research significant dispersion.
Calculate and coordinate trade error correction efforts and analysis.
Project / Initiative Management
–
approximate time 10%
Support PIT leadership in auditing and reporting for model portfolios (externally and internally delivered).
Assist with creation and maintenance of department procedures.
Develop and maintain risk management practices to limit risk exposure to the Portfolio Implementation Team and RBC.
Establish processes to anticipate market trends; design and implement process changes for efficiency and quality.
Ensure procedures and systems maximize Advisory Programs management reporting accuracy and timeliness.
Provide daily, monthly and quarterly report generation; gather data, analyze and report information.
Assist with cash level review, security drift review and audit code review.
Provide ad hoc project support as required.
What you need to succeed
Must-have
3–5 years of securities or financial markets experience with a focus on portfolio administration, portfolio management, investment operations or trading support roles.
BA/BS in Finance, Economics, Business Administration or related field.
Series 7, 63/65 or 66 (or ability to obtain licenses within prescribed timeframe).
Basic understanding of the broker/dealer industry, distribution channels served, managed accounts, trade practices and portfolio rebalancing.
Experience with Envestnet or other portfolio accounting and portfolio management systems.
Experience with equities, fixed income, mutual funds and ETFs.
Experience working with sub-advisors within a multi-manager offering.
Strong computer skills, especially Microsoft Excel; SQL and VBA a plus.
Proficient business math skills.
Nice-to-have
Prior portfolio accounting reconciliation or trade processing experience.
Strong interest and passion for general investment management and financial markets.
What’s in it for you?
We thrive on the challenge to be our best, pursue progressive thinking, and work together to deliver trusted advice that helps clients thrive and communities prosper. We value collaboration, opportunity for growth, and making a difference.
Comprehensive Total Rewards Program including competitive compensation and benefits (e.g., 401(k) with company-matching contributions, health, dental, vision, life, disability insurance, and paid time off).
Leaders who support development through coaching and growth opportunities.
Opportunity to make a difference and have a lasting impact.
Dynamic, collaborative, progressive, high-performing team environment.
Opportunities to do challenging work and build close relationships with clients.
Job Details
Location: Minneapolis, MN, United States
Work hours/week: 40
Employment Type: Full time
Platform: Wealth Management
Job Type: Regular
Pay Type: Salaried
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The Portfolio Implementation Team (PIT) serves as RBC’s internal overlay manager and acts as the primary group supporting UMA portfolio model management for the firm’s discretionary UMA product across the RBC US Wealth Management distribution channel. The PIT Team manages daily and ongoing operational and trading responsibilities associated with portfolio model management. The Portfolio Implementation Analyst provides support to ensure investment strategies delivered by investment managers are properly executed according to policies and procedures, and is responsible for the day-to-day planning, decision making and execution of the PIT trading processes for various model portfolios, both externally and internally delivered. The role aligns to the RBC Wealth Management strategy of client service.
Responsibilities
Relationship Management
Assist with on-boarding of internal/external model providers.
Interact with internal/external model providers to ensure accurate and timely model portfolio change processing.
Coordinate with internal/external model providers to ensure smooth communication and timely exchange of information.
Collaborate with model providers and other partners to optimize trading processes while reducing risk and potential for error.
Answer trading-related questions for RBC WM US field users (advisors, investment associates, client associates, etc.) and provide limited platform support.
Portfolio Management
–
approximate time 80%
Support day-to-day portfolio management and trade processing of model portfolios through client service, leadership and execution.
Implement new account asset allocations and investment fulfillment.
Implement and monitor client-specific constraints and guidelines.
Account re-balancing and updates according to model providers and asset-class weights.
Facilitate cash flows, contributions and withdrawals.
Monitor asset allocation guidelines and model drift/dispersion.
Monitor model management and allocation.
Monitor corporate actions and reorganizations for timely and accurate implementation.
Process new accounts and terminated accounts.
Assist and review portfolio risks and research significant dispersion.
Calculate and coordinate trade error correction efforts and analysis.
Project / Initiative Management
–
approximate time 10%
Support PIT leadership in auditing and reporting for model portfolios (externally and internally delivered).
Assist with creation and maintenance of department procedures.
Develop and maintain risk management practices to limit risk exposure to the Portfolio Implementation Team and RBC.
Establish processes to anticipate market trends; design and implement process changes for efficiency and quality.
Ensure procedures and systems maximize Advisory Programs management reporting accuracy and timeliness.
Provide daily, monthly and quarterly report generation; gather data, analyze and report information.
Assist with cash level review, security drift review and audit code review.
Provide ad hoc project support as required.
What you need to succeed
Must-have
3–5 years of securities or financial markets experience with a focus on portfolio administration, portfolio management, investment operations or trading support roles.
BA/BS in Finance, Economics, Business Administration or related field.
Series 7, 63/65 or 66 (or ability to obtain licenses within prescribed timeframe).
Basic understanding of the broker/dealer industry, distribution channels served, managed accounts, trade practices and portfolio rebalancing.
Experience with Envestnet or other portfolio accounting and portfolio management systems.
Experience with equities, fixed income, mutual funds and ETFs.
Experience working with sub-advisors within a multi-manager offering.
Strong computer skills, especially Microsoft Excel; SQL and VBA a plus.
Proficient business math skills.
Nice-to-have
Prior portfolio accounting reconciliation or trade processing experience.
Strong interest and passion for general investment management and financial markets.
What’s in it for you?
We thrive on the challenge to be our best, pursue progressive thinking, and work together to deliver trusted advice that helps clients thrive and communities prosper. We value collaboration, opportunity for growth, and making a difference.
Comprehensive Total Rewards Program including competitive compensation and benefits (e.g., 401(k) with company-matching contributions, health, dental, vision, life, disability insurance, and paid time off).
Leaders who support development through coaching and growth opportunities.
Opportunity to make a difference and have a lasting impact.
Dynamic, collaborative, progressive, high-performing team environment.
Opportunities to do challenging work and build close relationships with clients.
Job Details
Location: Minneapolis, MN, United States
Work hours/week: 40
Employment Type: Full time
Platform: Wealth Management
Job Type: Regular
Pay Type: Salaried
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