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Managing Director of Asset Allocation and Portfolio Strategy
KeyBank
Cleveland, OH, United States
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Job Description
JOB DESCRIPTION – Key Private Bank (“KPB”)
November 2017
Job Title: Managing Director of Asset Allocation and Portfolio Strategy
About the Job (Job Brief) and Initial Assignments
Working closely with and reporting to the Chief Investment Officer, the Managing Director of Asset Allocation and Portfolio Strategy will be responsible for leading KPB’s portfolio construction process and actively shaping and communicating the firm’s asset allocation methodology and recommendations.
Specific responsibilities will entail: directing all aspects of the organization’s third-party manager research efforts (an open architecture platform); managing the relationship with KPB’s third-party research consultant; developing a robust portfolio construction process manifested through the design and execution of multi-strategy model portfolios (aka “Guidance Portfolios”); and articulating clearly defined asset allocation recommendations utilized by all client segments. S/he will also play a major leadership role within the Investment Management and Research Team and will be expected to foster a culture of collaboration and excellence.
Upon assuming this important position, the successful incumbent will undertake a critical review of existing processes related to the sourcing, evaluating, selecting and monitoring of external investment managers with an eye towards the codification of institutional-caliber best practices. S/he will also lead an assessment all third-party strategies that currently exist on the Private Bank’s platform with an eye towards refinement and enhancement, where appropriate. In addition, s/he will also assume the role of lead architect of the firm’s Guidance Portfolios which may be comprised of traditional strategies, alternative investment vehicles and proprietary overlay and/or trading strategies, where applicable.
A key component of this significant assignment will be the formation of commingled fund vehicles designed to bolster client satisfaction, adoption and consistency across the Private Bank’s national footprint and leverage relationships with best in class third party investment managers. These vehicles, once established, will span the full spectrum of the investment universe including traditional/long-only publicly traded investments, hedged/absolute return strategies, private capital strategies, and others.
Recognizing the importance of asset allocation, working with the CIO and other KPB colleagues, the incumbent will help design a rigorous asset allocation methodology and aid in effectively enunciating KPB’s long-term/strategic asset allocation posture along with short- to intermediate-term tactical tilts. Such tilting may consist of leaning towards or away from asset classes, investment factors, or investable themes expressed through active, passive and overlay strategies, where appropriate.
Viewed as a critical contributor to the firm’s success, the Managing Director of Asset Allocation and Portfolio Strategy will also play a meaningful role in communicating and articulating the organization’s investment philosophy as well as its application through Key Private Bank’s Guidance Portfolios. S/he will be expected to communicate verbally and in written form in an effective manner with clients, prospects, COIs and internal stakeholders alike, and s/he must also serve as an valuable mentor and a respected leader to a team of direct reports and a trusted colleague by her/his peers.
Essential Functions
Assists in the strategic direction of the Investment Management and Research Team
Fosters a collaborative culture that embodies a generalist mindset and encourages significant engagement, innovation and professional growth amongst investment professionals by rewarding intellectual curiosity, quality, transparency and a holistic investment approach
Manages the firm’s open architecture/third-party manager platform including the establishment and subsequent maintenance of effective policies for sourcing, selecting, and monitoring and de-selecting investment managers
Leads portfolio construction process by incorporating third-party manager recommendations and proprietary solutions (where appropriate) into model portfolios or “Guidance Portfolios” utilized by all client segments
Designs a sound asset allocation framework consisting of time-tested analytical underpinnings overlaid by judgment and observed experiences
Oversees the formulation of capital market assumptions (with applications existing throughout KPB) along with rigorous risk modeling techniques to enhance portfolio construction decisions ex-ante and conduct robust attribution analyses ex-post
Develops effective communication tools to convey recommendations and thought leadership in a coherent, transparent manner
Required Qualifications
A minimum of 15 years of highly relevant investment management or investment consulting experience, including at least 5 years of senior-level responsibilities
CFA designation or graduate degree in business, finance, economics or related area strongly preferred
Extensive knowledge of the full gamut of asset classes, including deep familiarity with both traditional and alternative strategies and demonstrable evidence of thought leadership
Excellent communication skills, both written and oral
Strong quantitative knowledge and proven success in applying such techniques used in building effective global, multi-asset, asset allocation models
Experience managing or leading a team including ability to mentor and coach, and lead and inspire
Team orientation and collaborative; advocate for a generalist model
High emotional intelligence and strong sense of self
Uncompromising integrity
COMPETENCIES/SKILLS
Strategic Agility – Sees ahead clearly; can anticipate future trends and consequences accurately; has broad knowledge and perspective; is future oriented; can articulate/paint credible pictures and visions of possibilities; can create competitive and breakthrough strategies and plans.
Directing Others – Establishes clear direction; sets stretching objectives; distributes workload appropriately; lays out work in a well-planned and organized manner; maintains two-way dialogue; brings out the best in people; a clear communicator.
Informing – Provides the information people need to know to do their jobs and to feel good about being a member of the team, unit, and the organization; provides individuals information so that they can make accurate decisions; is timely with information.
Organizational Agility – Knowledgeable about how organizations work; knows how to get things done both through formal channels and informal network; understands the origin and reasoning behind key policies, practices, and procedures; understands the cultures of organizations.
Presentation Skills – Is effective in a variety of formal presentation settings; one-on-one, small and large groups, with peers, direct reports, and supervisors and business leaders; effective both inside and outside the organization; commands attention and can manage group process during the presentation; can change tactics midstream as needed.
Customer Focus: Is dedicated to meeting the expectations and requirements of internal and external customers; gets first-hand customer information and uses it for improvements in products and se
ABOUT KEY:
KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $134.5 billion at March 31, 2017. Key provides deposit, lending, cash management, insurance, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of more than 1,200 branches and more than 1,500 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. KeyBank is Member FDIC.
ABOUT THE BUSINESS:
KeyBank has administrative services in place that help support the business. These include: Finance, Human Resources, Legal, and Marketing. KeyBank’s Corporate Center supports strategic initiatives through multiple teams which provide distinctly different, yet interrelated, disciplines for the KeyBank Leadership team and its business groups. The Corporate Center protects and enhances Key’s brand through thoughtful and deliberate messaging and responsible banking. Our proactive approach and significant expertise engage both internal and external constituents – employees, clients, shareholders, investors, regulators, legislators, community advocates – by adding value, positively influencing their perceptions, and instilling a sense of confidence in Key.
FLSA STATUS:Exempt
KeyCorp is an Equal Opportunity and Affirmative Action Employer committed to engaging a diverse workforce and sustaining an inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.