Senior Portfolio Manager
NorthStar Asset Management, Inc. Boston, MA seeks an exceptional Portfolio Manager to join its diverse team of professionals.
About NorthStar Asset Management
Founded in 1990, NorthStar Asset Management specializes exclusively in socially responsible investing for high net-worth clients and non-profit organizations. NorthStar’s mission is to provide integrative and effective portfolio management by connecting social concerns to security selection, asset allocation, and activism. NorthStar’s investment management process begins with an analysis of the social, ecological, and political problems of our time, spanning but not limited to race, gender, income inequality, environmental justice, and human rights, and includes in-depth conversations with clients. These steps result in the construction of highly personalized portfolios that integrate financial goals while upholding a commitment to social change and environmental sustainability. Synthesizing a broad market outlook and the individual needs of the client, NorthStar combines direct investments in global equities, investment grade bonds, alternative “outside” investments, and cash to create vibrant and well-balanced portfolios.
NorthStar’s activism includes engagement with portfolio companies to improve their behavior with regards to race and gender, wealth and income inequality, human rights, environmental justice, and corporate governance. Our selection of Outside Investments and our strict criteria in selecting funding opportunities enhance our client’s commitment to justice and equity. The NorthStar approach, vision, and philosophy have evolved based on a core belief that we are here to make a difference.
For more information on NorthStar Asset Management, please visit northstarasset.com.
The Opportunity: Senior Portfolio Manager
We seek an experienced portfolio manager with adaptable portfolio management skills to serve high-net-worth individuals, family foundations, and other non-profit clients who are used to a high touch, integrated portfolio construction process. The role includes interaction with investment advisors, client service team members, and the equity research team to incorporate race and gender, wealth and income inequality, human rights, environmental justice, and corporate governance throughout all portfolios. The NorthStar approach, vision, and philosophy have evolved based on a core belief that we are here to make a difference and that our sense of justice is always evolving. Under the direction of the CEO and working in concert with the Head of Equity Research, the Senior Portfolio Manager will be part of a diverse investment team with an immediate opportunity to contribute to and influence portfolio construction as it relates to social issues, economic events, and investment selection and to refine our internal portfolio management process based on an understanding of the evolving needs of the firm and applying knowledge of industry best practices.
- Understand current economic conditions and the sensitivities of sectors and securities to business cycles.
- Share well-informed opinions and observations regarding interest rates and yield curves, global and regional economic and market activity, and other factors affecting client portfolios.
- Understand and critique the existing portfolio construction approach and resources, internal rules and criteria, sector allocations, individual security weightings, and buy/sell and rebalancing guidelines. Propose changes/improvements and work with team to arrive at agreement on an ongoing basis.
- Perform attribution analysis, particularly across balanced portfolios.
- Demonstrate active leadership in team discussions and deliberations, including sector weightings, securities weightings, asset allocation, and risk metrics.
- Recommend amendments to existing portfolio construction to the Investment Committee within the context of a changing global economy and with sensitivity to individual client risk tolerance.
- Be an active participant and leader in equity and fixed income research and investment selection.
- Manage a multitude of personalized client portfolios, with different asset allocations and risk parameters, using target allocation for Equities, Fixed Income, Outside Investments, and cash based on client’s Investment Policy Statement, market conditions, and economic outlook. Identify inconsistencies and work with investment advisors as needed to realign individual accounts.
- Implement the Investment Committee’s approved stock recommendations. Identify transactions such as bond calls, maturities, and takeovers and analyze the cause/impact on allocation; notify investment advisors as needed with substantiated recommendations for replacement.
- Conduct monthly account reviews, invest/raise cash based on client portfolio needs; consult with investment advisors as needed to determine if rebalancing is appropriate.
- Review and rebalance client portfolios on a quarterly basis and as needed for new clients, unforeseen cash flows, and changes in target asset allocations:
- Equities: Review weights relative to target allocations, determine if oversized deviations in positions exist and recommend rebalance after conversation with investment advisors and Investment Committee. Conduct quarterly review of realized capital gains relative to prior year and consult with investment advisors as needed to determine whether actions are required.
- Fixed income: Research called/matured bonds, examine reason for the call, suggest replacement of security after examining client asset allocation and portfolio notes, which outline timing of tax payments, fees, and potential large expenses. Replace after consultation with investment advisors.
- Participate in client meetings on an as needed basis.
- Oversee Associate Portfolio Manager and Trading team.
- Experience in macroeconomic, fundamental, and statistical modeling
- Ability to understand and apply risk metrics when assessing risk budgeting and position limits in the portfolio construction process.
- Expertise in Bloomberg and Microsoft Office Suite with particular mastery of Excel
- Familiarity with Access, Advent/Axys, Trading platforms, and Filemaker Pro
- Proficient in SAS, or similar statistical software
- Experience in client facing roles
- Knowledge of at least one programming language (helpful)
- Passion and deep understanding of social justice issues. Strong experience with integrating environmental, social, governance factors including race and gender, wealth and income inequality, human rights, environmental justice, and corporate governance into investment decision making
- Motivated by learning from colleagues on NorthStar’s “evolving sense of justice”
- Independent and critical thinker with the ability to assess the ‘big picture’
- In-depth knowledge of financial markets (equity and fixed income).
- Breadth of knowledge of the intersection of asset classes, from commodities, to technologies, to economics and statistical databases, etc. and the ability to creatively synthesize, forecast and communicate this perspective.
- Proven quantitative acumen; ability to translate ideas into quantitative data to test qualitative hypotheses, in other words, a quantitative thinker with qualitative sensitivity
- Sharp, driven, observant, insightful, creative, mature, and motivated
- Entrepreneurial spirit, curious with a strong willingness to learn and lead
- Effective clear, concise, and persuasive communicator, both verbally and in writing
- Results driven, with the ability to adapt and prioritize as needed in a small firm
- Must have strong organizational skills with an efficient and operational mindset
- Ability to translate client concerns into investment criteria
- Ability to deliver professional excellence and collaborate
- Ability to work effectively as a member of and leader on a team
- Minimum of 10-15 years of experience in the investment management industry
- Strong academic and professional achievements
- CFA required
- A racially diverse, collegial, casual, collaborative, and high-performing work environment.
- Professional learning supported.
- Competitive compensation package.
- Strong benefits package.
Equal Opportunity Employer
NorthStar is strongly committed to diversity and inclusion. NorthStar provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, gender, gender identity, sexual orientation, national origin, age, disability, or genetics. The NorthStar workplace is an environment that is welcoming and inclusive for everyone.
NorthStar encourages women and people of color to apply.
How to Apply
NorthStar Asset Management, Inc. is a socially responsible investment firm in Boston, MA. For more information about us, please visit northstarasset.com.
To apply, please email your resume and cover letter to email@example.com with Portfolio Manager in the subject line. No phone calls, please.
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