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Junior Portfolio Management Associate / Portfolio Management Associate

New York, NY

Pzena Investment Management, LLC is a registered investment adviser and broker-dealer managing approximately $70 billion in global equity assets. We provide equity investment management services for institutional investors, leading corporate, public and individual clients on a world-wide basis by way of separate accounts, sub-advised mutual funds, and other commingled vehicles since our firm founding in 1995. 

Our team of approximately 160 employees is mostly based in our headquarters in Manhattan and we have additional offices in London, Dublin and Melbourne. We are a growing company, in the size of our team, our locations, and our assets under management. We seek partners, not just employees, at every level in the firm and are looking for an exceptional new team member to grow with us. At Pzena, we invest in your career and have a strong track record of internal mobility.

We are looking to add a Junior Portfolio Management Associate or Portfolio Management Associate to join our Operations team. You will work with the Portfolio Accounting, Trading, Trade Settlement, Application Development, Business Systems Analyst, and the Investment teams to implement our investment decisions operationally. Success in this role means you will demonstrate responsiveness, accountability, and exceptional attention to detail. You will communicate effectively with, and be a trusted operational resource to, our investment team. You will be an engaged team member and have interest in learning and executing our value investing strategy. You will report directly to the Manager of Portfolio Implementation. 

Key Responsibilities 

  • Be a reliable resource to our investment team as you interact directly with them to understand and implement their investment decisions.
  • Create foreign and domestic equity trade instructions for all portfolios in a timely and thoughtful manner as you adhere to the firm and client directed guidelines, to ensure trade compliance for both pre-trade and post-trade evaluations.
  • Provide excellent client service through high quality client reporting and communication.
  • Ensure quality control through detail-oriented security setup and valuation review for all securities.
  • Respond to operational inquiries internally and externally to achieve our standards of excellent service.
  • Act as an engaged member of the Operations team to contribute to it fulfill its business goals 

Portfolio Implementation-60% per month 

  • Implement the investment strategy set out by the firm for our various products.
  • Participate in meetings with the Investment team to review changes to investment strategies.
  • Create equity trades in response to portfolio reviews, cash flows, tax trading, and adherence to compliance rules.
  • Submit trades for model manager accounts, retail UMA and SMA platforms 

Compliance-20% per month 

  • Monitor daily pre-trade compliance using electronically coded alerts or manual review.
  • Read, review, and maintain client portfolio guidelines as part of the account setup and ongoing administration of accounts  

Client/Marketing Correspondence & Reporting-10% per month 

  • Create high client satisfaction by responding with accuracy and urgency to all client inquiries.
  • Meet all scheduled and unscheduled reporting requirements.
  • Assist marketing/client service and PI team on client inquiries or portfolio review changes with marketing 

Security Setup & Maintenance- 10% per month 

  • Review and update all securities added to or changed in our databases according to our internal procedures.
  • Oversee FactSet database for data quality and produce reports as necessary.
  • Partner with the Business Analysts to ensure securities are properly mapped to our Security Master system 

Additional Portfolio Management Associate Responsibilities: 

  • Research reasons for dispersion and prepare materials for reviews with the Portfolio Management team.
  • Code compliance rules on client accounts and review weekly compliance reports for model manager accounts.
  • Review sanctions list, social and environmental restriction lists, and client restriction lists and/or client restrictions.
  • Update our model keeper system with portfolio review instructions.
  • Meet regularly with PMs to discuss dispersion, model manager accounts and bespoke portfolios 

Duties, responsibilities and activities may change at any time. 

Basic Qualifications: 

  • Bachelor’s Degree.
  • 0-4+ years’ of relevant work experience.
  • Proficiency with Microsoft Office suite 

Preferred Qualifications: 

  • Experience working with domestic equity order creation in an order management system.
  • Basic understanding of compliance.
  • Experience with a portfolio accounting system (InData).
  • Experience with FactSet or similar portfolio analytics system.
  • Knowledge of ESG, sanctions and liquidity monitoring.
  • Experience working with UMAs and wrap programs 

Salary Range:  $70,000 - $90,000 USD Annually   

The actual base salary may vary depending on factors, including, but not limited to location, work experience, education, training, skill level, and market conditions. At Pzena Investment Management, base salary is just one component of the total compensation, which may include, year-end discretionary bonus and employee benefits.     

At this time, Pzena Investment Management will not sponsor an applicant for employment authorization for this position. 

Working at Pzena

We are committed to the success and wellbeing of our employees. We offer benefits to support the health and wellness of our employees and their families, such as additional health cover, life assurance, income protection, pension, and firm contributions to causes important to our employees through firm Charitable Giving and Charitable Matching programs. Additionally, the firm supports the professional growth of our team by offering a Mentorship Program, Lunch & Learns, and sponsoring workgroups and committees to recommend business improvements. We are proud of our culture and enjoy coming together as a firm; you can look forward to team building activities in local offices and as a global firm including social events, holiday events, monthly birthday parties, Pizza Thursdays, recharging with healthy snacks, and more.

Pzena Investment Management is an affirmative action – equal opportunity employer. We value all forms of diversity and are committed to fostering an equitable and inclusive environment for all. We believe that multiple points of view, from different backgrounds and experiences, contributes positively to our culture and work. We welcome and encourage candidates of all backgrounds and experiences to join our team.

For a reasonable accommodation request, please contact careers@pzena.com. 

Privacy Policy: https://www.pzena.com/cookie-policy/

 

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