Senior Investment Manager, Separately Managed Accounts
At a glance
Senior Investment & Corporate Development role at Fidelity. Boston · full-time · $150,000–$250,000 base.
financeroles summary, based on the employer's posting.
What you'll do
- Review and trade tax-aware and non-taxable client portfolios, including U.S. and international equity and long/short accounts
- Build portfolios across client tax registrations, balancing investment risk and return while targeting pre- and after-tax outcomes
- Carry out daily equity trades, check portfolios against models, and coordinate implementation with operations teams
- Track portfolio results, trade execution and risk measures, while assessing market reactions to current events
- Improve long/short strategies and model-management processes with research, technology, portfolio management and operations colleagues
What you bring
- At least five years in investment research, portfolio management or trading
- A bachelor's degree is required; finance, accounting or economics study is strongly preferred
- You understand long/short equity, short selling and securities finance, with substantial experience trading, explaining or developing these strategies
Who this fits
This senior role suits an investment professional focused on discretionary SMA portfolio review, trading and tax-aware portfolio construction. Fidelity will not sponsor immigration for this position. The role is based in Boston; onsite expectations may change as the company's phased transition progresses.
From the employer
Fidelity will not provide immigration sponsorship for this position.
Job Description:
Note: Fidelity will not provide immigration sponsorship for this position.
The Group
Strategic Advisers, LLC (SAI) is a registered investment advisor and Fidelity Investments Company that provides investment management services to clients through Fidelity’s retail and institutional distribution channels. For more than 30 years, SAI has specialized in the investment management of managed accounts and other custom solutions to help investors reach their financial goals. With more than $1.4 trillion in assets under management in a blend of Fidelity and third-party investment vehicles, Fidelity’s SAI is a leading provider of managed solutions for retail, workplace, and institutional clients.
The Team
The Separately Managed Account (SMA) Team is responsible for SMA model management, portfolio construction, management and trading of existing Fidelity’s retail managed accounts in addition to developing, researching and launching new products and initiatives. We employ investment expertise, quantitative techniques and technical skills to further enhance the team’s roles and responsibilities across single asset class portfolios for high-net-worth and mass affluent individuals and trusts.
The Role
The Senior Investment Manager will focus on reviewing discretionary client portfolios primarily invested in US and international equity portfolios, which are offered in standalone and sleeve forms as well as newer strategies like long/short offerings. The Senior Investment Manager will have a high degree of investment expertise to review and trade the tax-aware and non-taxable SMAs. In addition, this role will also provide tax-aware transition strategies and hypothetical account reviews for clients. You will play a significant role in SAI's next generation of sophisticated investment solutions which include custom multi-account investment management and asset location strategies.
Primary Responsibilities
Trade Execution
Long/Short equity account reviews and analysis
Enhance long/short equity strategies and improve upon processes
Execute daily equity trading activities across individual client portfolios for standalone
Ensure model alignment and liaise with operation teams
Monitor and maintain portfolio performance, execution and risk metrics
Develop and maintain relationships with internal trading partners
Monitor current events and gauge market reactions
Portfolio Construction
Manage individual client portfolios utilizing complex portfolio construction techniques that involve optimization across different tax registration types
Be able to decipher and clearly understand the impacts on investment risk and return characteristics
Develop a deep understanding of internal analyst and portfolio manager research on portfolio construction, and business cycle positioning to achieve superior pre- and after-tax returns consistent with the investment philosophy
Contribute to the broader investment philosophy and process for the strategy
Collaborate with other parts of SAI and Fidelity, including Business Oversight, Portfolio Management, Research, Technology, and Operations to continually improve our model management process and implementation
Qualifications
Experience/Education
Deep understanding of long/short equity investing, short selling and securities finance
Extensive experience trading, articulating, or creating long/short equity strategies
Bachelor's Degree required and emphasis in finance/accounting/economics subjects strongly preferred
Existing or progress toward a professional designation or certification including, but not limited to CPA, CFP, CQF etc. a plus
5+ years of meaningful investment experience in research, portfolio management, or trading
Skills and Knowledge
Professional & Interpersonal
Ability to operate in a demanding environment with an adaptable skill set, creative problem-solving skills, and the ability to multi-task and work across many projects
Excellent oral and written communication skills
Extraordinary attention to detail, as well as great analytical skills that allow for independent judgement and conclusive reasoning while dealing with significant time constraints
Ability to work effectively on a collaborative team with a strong spirit of innovation, maintaining comfort in undefined environments
Quantitative & Technical
Awareness of portfolio optimization tools and techniques like Axioma and risk models like Barra
Strong quantitative analysis skills around oversight of portfolio holdings & risk exposures
Skilled using AI tools and techniques preferred
Experience using FactSet or Bloomberg
Skilled in advanced programming languages like R, Python and SQL strongly preferred
Comfort working with large datasets, using database tools and platforms as well as report and visualization platforms like Tableau
Fidelity’s Onsite Working Model
Fidelity is transitioning to a full-time onsite working model through a phased rollout across regions and roles. Currently, some roles and locations require 100% onsite presence, while others require less. Onsite expectations are likely to evolve as the rollout continues. This transition does not apply to fully remote roles.
Placement in the range will vary based on job responsibilities and scope, geographic location, candidate’s relevant experience, and other factors.
Base salary is only part of the total compensation package. Depending on the position and eligibility requirements, the offer package may also include bonus or other variable compensation.
We offer a wide range of benefits to meet your evolving needs and help you live your best life at work and at home. These benefits include comprehensive health care coverage and emotional well-being support, market-leading retirement, generous paid time off and parental leave, charitable giving employee match program, and educational assistance including student loan repayment, tuition reimbursement, and learning resources to develop your career. Note, the application window closes when the position is filled or unposted.
Please be advised that Fidelity’s business is governed by the provisions of the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940, ERISA, numerous state laws governing securities, investment and retirement-related financial activities and the rules and regulations of numerous self-regulatory organizations, including FINRA, among others. Those laws and regulations may restrict Fidelity from hiring and/or associating with individuals with certain Criminal Histories.