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Retirement Plan Investments - Portfolio Manager

Charlotte, North Carolina

Job Description:

This investment management role is part of the Retirement Plans Investments (RPI) team which is predominately focused on managing the assets/investments of the Bank of America retirement plans that include defined benefit plans, 401(k) plans and deferred compplans.

The scale of the task of managing these asset pools is evidenced by Pensions & Investments annual ranking of the 1,000 largest U.S. retirement plans by fund sponsor. Within this listing, Bank of America’s U.S. retirement plans rank as the 36th largest pool of retirement assets (inclusive of public plans) and 10th largest for private/corporate employers. The $18 billion of pension assets and $58 billion 401(k) plan assets place these plans in the “mega” plan category.

Position responsibilities include:

+ Acting in the capacity of an ERISA plan fiduciary

+ Responsible for producing analysis used to manage and evaluate the plan assets and manager performance

+ Supports the quarterly and annual financial reporting for the plans. Activities include supporting the financial accounting process for the plans (asset values relative to expectations based on market returns), the corporate forecasting process (developing expected returns and liability valuation metrics under different economic scenarios) and developing performance monitoring management reporting for the pension and 401(k) plans.

+ Developing market knowledge of asset classes and investment strategies

+ Developing knowledge of deferred compensation plans and evaluating investment strategies of trust assets. Make recommendations related asset allocation and wind down strategies.

+ Participate and assist in conducting thorough due diligence reviews of both prospective and incumbent investment strategies/managers

+ Develop, monitor and assess all aspects of a limited group of investment strategies (e.g., Stable Value), including performance attribution, portfolio management team and the investment management company.

+ Oversee assigned investment strategies and relationship with external money managers

+ Develop market knowledge of the different asset classes

+ Perform research & analysis on different aspects of institutional asset management (e.g., asset class fees, trading costs, expected performance, correlations)

+ Performing other duties/research projects as assigned

Through these responsibilities, the incumbent will interact with leading institutional investment management firms, investment consultants, actuarial services firms, finance teams and legal groups. The role offers an opportunity to develop an in-depth understanding of investment strategies, portfolio management, institutional asset management products and the responsibilities associated with investment administration of ERISA plans (defined benefit plans and defined contribution plans)

Required Knowledge, Skills & Experience:

+ Graduation from an accredited four year college or university with a Bachelor’s degree or equivalent years of experience

+ Knowledge of, and experience in institutional asset management (2+ years of experience)

+ Developing knowledge and understanding of the capital markets

+ Knowledge of Investment concepts, terminology, styles, asset allocation, and performance measurement

+ Inquisitive, willing to challenge the status quo and strive to improve processes

+ Effective at working collaboratively and business partnering

+ Ability to work with a high level of autonomy, make well-reasoned decisions and in an ethical manner

+ Possess analytical abilities/financial acumen/problem solving skills

+ Strongcommunication/interpersonalskills

+ Proficient in MS Office tools (Excel – advanced user) & tableau

Desired Skills & Experience:

+ CFA / MBA - working towards or relevant experience

+ 3+ years Institutional Asset Management experience

+ Multi-asset class knowledge across public and private markets

+ Demonstrated ability to efficiently learn and apply financial concepts

+ Ability to establish and maintain professional relationships with portfolio managers, actuaries, trustees, auditors, etc.

+ Principles and practices of institutional investment management and modern portfolio theory

+ Forecast/Planning/ManagementAccounting/Project Management Experience

+ Knowledge of ERISA Retirement Plans

Shift:

1st shift (United States of America)

Hours Per Week:

40

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.

To view the "Know your Rights" poster, CLICK HERE (https://www.eeoc.gov/sites/default/files/2023-06/22-088\_EEOC\_KnowYourRights6.12.pdf) .

View the LA County Fair Chance Ordinance (https://dcba.lacounty.gov/wp-content/uploads/2024/08/FCOE-Official-Notice-Eng-Final-8.30.2024.pdf) .

Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (“Policy”) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.

To view Bank of America’s Drug-free Workplace and Alcohol Policy, CLICK HERE .

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. Should you be offered a role with Bank of America, your hiring manager will provide you with information on the in-office expectations associated with your role. These expectations are subject to change at any time and at the sole discretion of the Company. To the extent you have a disability or sincerely held religious belief for which you believe you need a reasonable accommodation from this requirement, you must seek an accommodation through the Bank’s required accommodation request process before your first day of work.

This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.