Overlay Portfolio Management Leader

Opportunity Overview

This is an exciting opportunity for an experienced Overlay Portfolio Manager to build, design, hire for and launch a new Overlay Management team.

Edward Jones has been rapidly evolving and growing our Managed Account offering and we recently launched our UMA Program, My Compass, by Edward Jones. To take it to the next level, and meet more clients' needs at scale, we need to stand up a Canadian Overlay Management team who will have full responsibility for the policy design, implementation, monitoring, and trading of our UMA program. As we're just getting started, you will be asked to design our trading policies, set appropriate risk limits and guiding principles and figure out how the Overlay Management team needs to be structured for enduring success.

As the functional leader and a licensed Overlay Portfolio Manager, once the team is launched, you will lead the team with overall responsibility for all trading, rebalancing, and Monitoring of client accounts within Edward Jones' UMA program.

To enable this, you are expected to build out a team comprised of licensed Portfolio Managers and Traders who are experts at portfolio implementation, have deep understanding of trading and tax principles and know how to effectively balance achieving client requests for customization with delivery of high-quality model portfolios that remain aligned to their investment thesis. This will include understanding specific client requests for tax-optimization or security restrictions and subsequently exercising discretion to execute trades across the program. You and your team will partner with Portfolio Management, Operations and Financial Advisors to bring UMA to life in a way that accommodates unique client requests for tax-optimization strategies and values-based investing.

The team will execute on both Portfolio Manager and client instructions simultaneously and is responsible for scaling customization across UMA while meeting regulatory requirements and delivering performance that meets or exceeds expectations on behalf of clients.

What you'll do :

• Lead the Overlay Management team who will be responsible for the daily monitoring of UMA accounts and exercising discretion to trade and rebalance portfolios consisting of mutual funds, ETFs, and SMAs, ensuring compliance with client objectives and regulatory requirements.
• Lead the onboarding of new external subadvisors onto the UMA Platform, manage incoming trade instructions and perform ongoing due diligence activities to ensure accuracy of model compositions to minimize and eliminate tracking error.
• Overall responsibility for the development and execution of trade strategies based on client requests for portfolio customization or tax management, while ensuring consistency with both the portfolios and client's investment objectives.
• Overall responsibility to implement the client's selected model portfolio solution in accordance with Edward Jones guidance and fiduciary standards.
• Responsible for the creation and execution of the Canadian Overlay Management business plan, including leading and developing associates within the team.
• Overall responsibility for managing the integration and utilization of CGI's Wealth360 (UMA) platform to enhance overlay trading efficiency and advisor / client reporting.
• Drive partnership with portfolio managers and operations to develop and align on trading strategies based on our market outlooks that help to achieve client investment objectives.
• Continuously assess and improve our trading procedures to maintain a competitive advantage and perform ongoing reviews of the program for effectiveness with consideration given to industry trends.
• Meet regulatory obligations set forth by CIRO through the design, development and ongoing execution of written supervisory procedures (WSP) related to trade execution, client constraints, tax management and model implementation.
• Serve as the leading subject matter expert on Trade Overlay Management and lead the creation of all policies, procedures and guiding principles on overlay trading within UMA.

EEO Statement

Edward Jones does not discriminate on the basis of race, color, gender, religion, national origin, age, disability, sexual orientation, pregnancy, veteran status, genetic information or any other basis prohibited by applicable law.

Company Description

Join a financial services firm where your contributions are valued. Edward Jones is a Fortune 500¹ company where people come first. With over 9 million clients and 20,000 financial advisors across the U.S. and Canada, we're proud to be privately-owned, placing the focus on our clients rather than shareholder returns.

Behind everything we do is our purpose : We partner for positive impact to improve the lives of our clients and colleagues, and together, better our communities and society. We are an innovative, flexible, and inclusive organization that attracts, develops, and inspires performance excellence and a sense of belonging.

People are at the center of our partnership. Edward Jones associates are seen, heard, respected, and supported. This is what we believe makes us the best place to start or build your career.

View our Purpose, Inclusion and Citizenship Report.

Fortune 500, published June 2024, data as of December 2023. Compensation provided for using, not obtaining, the rating.

Awards and Accolades

At Edward Jones, we are building a place where everyone feels like they belong. We're proud of our associates' contributions to the firm and the recognitions we have received.

Check out our U.S. awards and accolades : Insights & Information Blog Postings about Edward Jones

Check out our Canadian awards and accolades : Insights & Information Blog Postings about Edward Jones

Position Requirements

What you need :

Salary Information

At Edward Jones, we value and respect our associates and their contributions, and we recognize individual efforts through a rewards program that promotes a long-term career, financial security and well-being. Visit our career site to learn more about our total compensation approach, which in addition to base salary, typically includes benefits, bonuses and profit sharing. The salary range for this role is based on national data and actual pay is based on skills, experience, education, and other relevant factors for a potential new associate.