Managing Director, Head of Portfolio Management for Aperio
About this role
We are looking for a Head of Portfolio Management to oversee portfolio management, portfolio trading, and strategy implementation for our direct indexing, factor and values aligned business. The Head of Portfolio Management is responsible for the daily portfolio management activities, improving the investment processes and workflows, and working with the technology team on systems enhancements to support scale and new products. The Head of Portfolio Management will be a...Description
About this role
We are looking for a Head of Portfolio Management to oversee portfolio management, portfolio trading, and strategy implementation for our direct indexing, factor and values aligned business. The Head of Portfolio Management is responsible for the daily portfolio management activities, improving the investment processes and workflows, and working with the technology team on systems enhancements to support scale and new products. The Head of Portfolio Management will be a member of the Aperio Executive, Investment, and Trade Oversight committees and hold the role of Deputy CIO.
The successful candidate will have deep quantitative investment expertise, strong people management skills, and proven ability to scale investment processes and systems. The candidate should have an ability to think strategically, but also manage and prioritize multiple tasks in a time sensitive environment.
At Aperio (part of BlackRock), our strategies are designed to put our clients’ and their clients’ interests at the center of our investment advice; to minimize costs and taxes; and to incorporate each client’s unique environmental, social, and governance (ESG) preferences. We are a purposefully growing our quantitative/direct indexing investment management business specializing in managing customized equity portfolios tax efficiently. At Aperio, we work hard and move quickly as a well-coordinated, collaborative team whose exceptional people are focused on providing extraordinary client service. If you are looking for an opportunity to grow and contribute in a fun, industry-disruptive, fast-paced environment, Aperio is the place for you.
- Oversee day-to-day portfolio management activities and oversight of the core portfolio management and portfolio trading teams
- Lead cross-functional groups to enhance the platform in order to drive scale and efficiencies (e.g., number of accounts managed per portfolio manager, reduction in SLAs, etc.)
- Develop and implement portfolio management standards to improve consistency or portfolio implementation
- Improve the quantitative investment processes for active tax indexing, factor and values aligned strategies
- Oversee performance and risk of all Aperio portfolios
- Support clients and prospects on complex requests, due diligence meetings, annual reviews, compliance, etc.
- Resource to portfolio managers on complex rebalancing and client analyses (tax transition, risk profiles, values aligned, optimized gifting, etc.)
- Managing complex situations like trade errors, system outages, client disappointments, etc.
- Develop a team to handle significant growth, reduce errors, and improve team and client experience
- Grow, mentor, and coach teams to retain team members and provide opportunities for learning and career development
- Develop strong cross functional relationships, including with Operations, Client On-Boarding, Business Development, Process Engineering, Systems, Compliance, and Legal
- Understand business objectives to ensure that the team structure evolves to best support and fit with the changing nature of the business
- Collaborate on and contribute to the development of next generation, fully integrated cross-BlackRock SMA platforms
- Fifteen plus years of quantitative portfolio management experience
- Knowledge of tax management in equity strategies in the SMA space
- Strong people management skills with experience of overseeing 20+ person teams
- Proven ability to develop and implement complex and scalable portfolio management systems
- Experience working with process engineering and software development teams on systems improvements and automation
- Experience developing, implementing, managing, and improving complex operational workflows with an emphasis on scalability and straight-though processing
- Knowledge of broader securities markets and products including modern portfolio theory and its applications
- Experience with multi-factor risk models and portfolio optimization algorithms (Barra preferred)
- Experience with equity trading execution and transaction cost analysis
- Excellent analytical/problem solving abilities with an emphasis on quantitative analysis
- Data driven and metrics oriented
- Experience in high growth and fast-paced environment
- Strong attention to detail and emphasis on risk management
- Demonstrated initiative, perspective, creativity, and good quantitative intuition
- Excellent communication skills
- BA/BS required (Masters or CFA preferred)
- Experience with Barra, Salesforce, and Aladdin a plus
- Experience managing Index, Factor-Tilted, and Values Aligned portfolios a plus
- Experience managing long/short equity portfolios a plus
For California only the salary range for this position is $285,000 – $350,000. Additionally, employees are eligible for an annual discretionary bonus, and benefits including heath care, leave benefits, and retirement benefits. BlackRock operates a pay-for-performance compensation philosophy and your total compensation may vary based on role, location, and firm, department and individual performance.
To help you stay energized, engaged and inspired, we offer a wide range of benefits including a strong retirement plan, tuition reimbursement, comprehensive healthcare, support for working parents and Flexible Time Off (FTO) so you can relax, recharge and be there for the people you care about.
Our hybrid work model
BlackRock’s hybrid work model is designed to enable a culture of collaboration and apprenticeship that enriches the experience of our employees, while supporting flexibility for all. Employees are currently required to work at least 3 days in the office each week, with the flexibility to work from home up to 2 days a week; some business groups may require more time in the office due to their roles and responsibilities. Beginning in September, all employees will shift to at least 4 days in the office per week, with the flexibility to work from home 1 day a week. We remain focused on increasing the impactful moments that arise when we work together in person – aligned with our commitment to performance and innovation. As a new joiner, you can count on this hybrid model to accelerate your learning and onboarding experience here at BlackRock.
At BlackRock, we are all connected by one mission: to help more and more people experience financial well-being. Our clients, and the people they serve, are saving for retirement, paying for their children’s educations, buying homes and starting businesses. Their investments also help to strengthen the global economy: support businesses small and large; finance infrastructure projects that connect and power cities; and facilitate innovations that drive progress.
This mission would not be possible without our smartest investment – the one we make in our employees. It’s why we’re dedicated to creating an environment where our colleagues feel welcomed, valued and supported with networks, benefits and development opportunities to help them thrive.
BlackRock is proud to be an Equal Opportunity and Affirmative Action Employer. We evaluate qualified applicants without regard to race, color, national origin, religion, sex, sexual orientation, gender identity, disability, protected veteran status, and other statuses protected by law.
We recruit, hire, train, promote, pay, and administer all personnel actions without regard to race, color, religion, sex (including pregnancy, childbirth, and medical conditions related to pregnancy, childbirth, or breastfeeding), sex stereotyping (including assumptions about a person’s appearance or behavior, gender roles, gender expression, or gender identity), gender, gender identity, gender expression, national origin, age, mental or physical disability, ancestry, medical condition, marital status, military or veteran status, citizenship status, sexual orientation, genetic information, or any other status protected by applicable law. We interpret these protected statuses broadly to include both the actual status and also any perceptions and assumptions made regarding these statuses.BlackRock will consider for employment qualified applicants with arrest or conviction records in a manner consistent with the requirements of the law, including any applicable fair chance law.