Senior Associate - Portfolio Implementation Management

WHO ARE WE?

Cambridge Associates is a leading global investment firm. We work with endowments & foundations, pension plans, and ultra-high net worth private clients to build, implement and manage bespoke investment portfolios that generate outperformance so that they can maximize their impact on the world. Our goal is to meet clients wherever they are in the investment process. We offer a variety of services to complement those needs, including acting as an outsourced investment office and non-discretionary portfolio management. Committed to independence since our founding more than 50 years ago, we are motivated only by what is best for our clients.

Our clients trust the experience, leadership, and integrity of our investment professionals. We have a global team of outstanding investment portfolio managers/advisors and an extensive research platform to support them. With more than 1,400 employees in eleven locations around the globe, we are constantly looking to discover new ways to add long-term value to our clients’ portfolios. This extensive network helps us to identify and access the best investment opportunities around the globe. Our manager coverage across multiple asset classes ranging from traditional equity and fixed income to alternative investments such as hedge funds, private credit, private equity, venture capital and real assets affords us the privileged bird’s eye view of investor portfolios and deepens our investment expertise and thought leadership.

At Cambridge Associates, we believe that culture is central to your success and ours. We believe in a vibrant, values-driven culture that is supportive, inclusive and diverse. Here, we get the opportunity to work closely as a local team serving local clients while leveraging our global community. At CA, collaboration wins, kindness matters and we hold true to a culture that enables you to succeed.

THE OPPORTUNITY

Cambridge Associates seeks to hire a Senior Associate to join our Portfolio Implementation Management Team. The Portfolio Implementation Management Team is part of Global Portfolio Services. The Team’s mission is to provide advanced operational support to clients and investment teams by developing a deep understanding of their respective operational and service needs, while acting as the central point of contact for both clients and internal teams. Additionally, our goal is to minimize the investment team’s involvement and oversight of transaction implementation, tracking, and reporting so that they can focus on making investment decisions.

Our clients are served by a full-service investment team including a Chief Investment Officer (CIO), Investment Directors, and Investment Associates as well as Portfolio Implementation Management and Investment Operations team members, who construct and manage portfolios in line with each client’s investment objectives. Senior Associates work across multiple client types (with varying size and complexity). Their main responsibility is to lead the implementation and execution of investment decisions through knowledge of institutional portfolio investments, experience managing both internal & external stakeholders, and strong organizational skills. Senior Associates work with each investment team to ensure best practices and policies are being adhered to for the implementation and execution of investment decisions.

RESPONSIBILITIES

The Portfolio Implementation Management Senior Associate is a crucial part of the broader Investment Team and our Client’s experience coordinating all portfolio operations and inquiries. They act as a central point of contact for investment teams and other internal stakeholders implementing portfolio decisions.

Central operational point of contact for investment teams and clients

• Serve as a key operational resource for the investment team and provide additional support as needed including investment and client relationship management activities
• Serve as a main point of contact for clients and other external stakeholders on all operational matters
• Participate in the new business onboarding process, helping to guide the client through requirements and facilitating internal review
• Help to improve best practices for portfolio implementation, contribute to changes to existing processes and platforms via engagement with the Portfolio Implementation Management Group, and play a key role in the development & implementation of new initiatives

Manage portfolio implementation

• Management of the full investment life cycle, from trade planning through to investment execution for each client portfolio

1. Maintain clients’ portfolio monitoring and projection spreadsheets by updating portfolio positioning and future investment decisions in coordination with the investment team
2. Incorporate knowledge of allocation targets and tactical tilts into rebalancing proposals, together with specific asset class sizing and trade recommendations
3. Manage investment timing and additional portfolio & client guideline considerations to create and execute trade plans
4. Directly engage with client contact(s), internal CA business areas, and third-party managers to ensure effective communication and implementation of investment decisions
5. Develop a deep understanding of and be able to work effectively with different teams across Global Portfolio Services and Investment Operations, while appreciating how they support the portfolio implementation and execution process
6. Implement a variety of investment strategies and products e.g., ETFs, mutual funds, futures, hedge funds, private investments (e.g. PE/VC, Private Credit, etc.)

• Portfolio monitoring, reporting, and oversight

1. Liaise with service providers to ensure proper transaction execution and that optimal exposures to target allocations are maintained
2. Proactively monitor portfolio liquidity and cash balances, considering spending and unfunded private investment commitments
3. Evaluate & monitor compliance of the portfolio against client guidelines
4. Serve a liaison between investment teams and the Client Reporting Group with the key responsibility of providing updates/changes to trade details impacting the client’s portfolio

• Currency hedging and overlays

1. Monitor currency exposure of portfolio positions and liaise with currency specialist providers to execute FX forward contracts to hedge currency risk
2. Manage portfolio beta exposure by monitoring portfolio exposures and liaise with derivatives overlay specialists to execute equity derivatives futures contracts

Client team management and ad hoc tasks & skills

• Build an understanding for how specialized service providers operate (e.g., futures and currency overlays, traders, post distribution management, secondaries sales) and can be used for portfolio management needs
• Coordinate with investment teams to complete ad-hoc operational projects, provide supplemental portfolio analysis, and gather information to aid investment decisions
• Leverage knowledge of investment and portfolio management concepts to help external providers (legal, tax, audit) complete work related to the portfolio
• Participate in department projects and working groups to improve processes, training, and other ad hoc topics

QUALIFICATIONS

• BS/BA with 3-5 years of experience in the financial services industry. Experience in portfolio-related operations is valuable. Knowledge of alternatives particularly private equity & hedge funds preferred.
• Demonstrate accountability, excellent attention to detail, intellectual curiosity, and excellent oral and written communication skills.
• Superior and demonstrated problem-solving, analytical, and organizational skills.
• Ability to work with a singular focus or on several projects simultaneously, both independently and collaboratively. Demonstrated skill in project management and prioritization.
• Strong interest in and general knowledge of investments, key industry terms and broad financial concepts.
• Proficiency with Microsoft Excel and familiarity with other Microsoft Office software.
• Proven ability to deliver on time with high accuracy and quality.

All applications must include a resume AND a cover letter in a single PDF document for consideration.

Please apply directly at: https://phe.tbe.taleo.net/phe02/ats/careers/v2/viewRequisition?org=CAMBRIDGEASSOCIATES&cws=47&rid=10626

The firm is committed to the concept and practice of equal employment opportunity, and will not discriminate against any employee or applicant on the basis of race, color, religion, age, sex, national origin, sexual orientation, gender identity, disability, or veteran status. It is expected that all employees will follow a similar policy toward their co-workers.