Portfolio Trader

Position Summary

NorthCoast Asset Management is looking for a Portfolio Trader to join our team in our Stamford, CT office in a trade execution role. The Portfolio Trader’s primary responsibility is to manage all portfolio/investment related activities for their respective wealth management teams.  They are responsible for implementing the investment strategy, managing appropriate cash balances, and identifying opportunities for rebalancing, portfolio improvement, and tax loss harvesting. A successful Portfolio Trader will conduct all daily, weekly, and monthly portfolio reviews.

This position requires a presence in the Stamford office five days a week. 
Primary Responsibilities

• Building, executing and allocating trades across 7,000+ client accounts
• Researching and resolving trade and position breaks with executing brokers
• Reviewing client specific restrictions
• Maintaining trade execution data for TCA analysis and compiling and maintaining all performance results for composites.
• Maintain and develop automation processes for the operations and trading teams using Visual Basic and/or Python.
• Responsible for setting up clients in rebalancing software and updating targets when a client’s allocation changes.
• Run rebalancing software to identify client portfolios that are out of balance and to determine what action, if any, should be taken.
• Cash Flow Planning and Cash Management:
• Manage appropriate minimum and max cash thresholds as well as recurring contributions and distributions.
• Confirm accuracy of a client’s cash needs with advisory team on a periodic basis.
• Propose and execute plans for RMDs and any account cash flows.
• Perform review of cash to be invested or generated.                 
• Appropriately manage cash flow of accounts to provide for timely collection of fees. Provide and execute recommended action plans to collect on any outstanding uncollected fees.
• Identify opportunities to harvest losses as well as opportunities to switch to a more tax-efficient (or more preferred) investment vehicle.
• Provide superior, friendly and knowledgeable service by telephone and e-mail with financial advisors
• Effectively prioritize work to meet trade deadlines and service level agreements

Qualifications

• Two years of experience in financial services required
• Experience working with RIAs and Independent Financial Advisors a plus.
• Bachelor’s degree. 
• Equity and mutual fund trading experience and familiarity with Fidelity Institutional or Charles Schwab Institutional a plus.
• Strong proficiency in Microsoft Applications
• SS&C Software or Custodian website experience preferred
• Strong written and verbal communication skills. 
• Desire to take ownership and provide the best customer service in the industry
• Energetic self-starter with an extremely positive, can-do attitude
• Strong organization skills with exceptional attention to detail
• Must work well in a team environment, supporting others and filling in as necessary
• Must be able to prioritize and switch tasks as needed

The Portfolio Trader is an exempt position. The annualized base pay range for this role is expected to be between $70,000 - $120,000/year. Actual base pay could vary based on factors including but not limited to experience, subject matter expertise, geographic location where work will be performed, and the applicant's skill set. The base pay is just one component of the total compensation package for employees.  Other rewards may include an annual cash bonus and a comprehensive benefits package. 

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For Massachusetts Applicants: It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment.  An employer who violates this shall be subject to criminal penalties and civil liability. 

For Montana Applicants: If hired, the employment relationship is governed by the Wrongful Discharge from Employment Act. Mont. Code Ann. Section 39-2-901.

For Rhode Island Applicants: Focus is subject to Chapters 29-38 of Title 28 of the General Laws of Rhode Island and is therefore covered by the state’s workers’ compensation law. If you willfully provide false information about your ability to perform the essential functions of the job, with or without reasonable accommodations, you may be barred from filing a claim under the provisions of the Workers’ Compensation Act of the State of Rhode Island if the false information is directly related to the personal injury that is the basis for the new claim for compensation.  The Company complies fully with the Americans with Disabilities Act.