Would this be a jump from BO at all?

It looks like there may be some mutual fund trading here. We currently have an open Investment Portfolio Specialist position. While searching Monster for resumes, I came across yours and thought I’d see if this sounded like something you might be interested in. For your review, I’ve gone ahead and attached some information about the position. MAJOR AREAS OF ACCOUNTABILITY: Performs initial review and/or prepares recommendations for portfolio transactions based on Investment Policy Statements. Prepares quarterly activity as required by active diversification plans. Creates all mutual fund trade orders on the Fidelity platform for client accounts. Processes corporate actions such as rights offerings, mergers, tender offers, bankruptcy claims, and litigation claims. Performs annual account reviews, semiannual tax-loss review and monthly review of secondary vehicle positions. Assists with preparation of accurate and timely performance measurement reports for inclusion in client reporting packages. Assists with transactions for the collateralized lending accounts. Prepares and/or reviews various reports on client transactions. Cross-trains and assumes the duties of the Securities Specialist and the Administrative Assistant as needed. Completes special projects and reports as assigned by the Investment Administrator.

it looks Middle Officey, and probably not much of a step up. Honestley KJ, I’m in the same situation and gets lots of emails and calls just like this, but they are always for jobs similar to what we do now I’ve found. Just my 2

KJH Wrote: ------------------------------------------------------- > It looks like there may be some mutual fund > trading here. > > > We currently have an open Investment Portfolio > Specialist position. While searching Monster for > resumes, I came across yours and thought I’d see > if this sounded like something you might be > interested in. For your review, I’ve gone ahead > and attached some information about the position. > > > MAJOR AREAS OF ACCOUNTABILITY: > Performs initial review and/or prepares > recommendations for portfolio transactions based > on Investment Policy Statements. > Prepares quarterly activity as required by active > diversification plans. > Creates all mutual fund trade orders on the > Fidelity platform for client accounts. > Processes corporate actions such as rights > offerings, mergers, tender offers, bankruptcy > claims, and litigation claims. > Performs annual account reviews, semiannual > tax-loss review and monthly review of secondary > vehicle positions. > Assists with preparation of accurate and timely > performance measurement reports for inclusion in > client reporting packages. > Assists with transactions for the collateralized > lending accounts. > Prepares and/or reviews various reports on client > transactions. > Cross-trains and assumes the duties of the > Securities Specialist and the Administrative > Assistant as needed. > Completes special projects and reports as assigned > by the Investment Administrator. Possibly a jump up. What are you doing right now?

Right now portfolio reconcilation mainly. Some corp action. Review accounts before trading, reallocations, buy ins, sell downs, etc. Open/close accounts. I would consider a small jump for a nice step in pay. The dude pushing the broom around the the building probably makes more than me.

I like how the position includes both making investment recomendations based on IPS, as well as: Cross-trains and assumes the duties of the Securities Specialist and the Administrative Assistant as needed. assumes the duties of administrative assistant…hmm

I wonder about that too. They have 35 employees, its quite a step from my 12 employee office. Even here the BO guy doesn’t have to do admin tasks.

Any idea of a fair wage for this position?

40000-45000, my best guess

I just got done speaking with the HR Rep at this position. It sounds quite a bit more interesting than what I am doing now. Many tasks overlap however. The Pros: Nice bump in salary; $10-$12k. Much better benefits. Larger firm offering multiple financial services. I was told room to grow as I progress through CFA. The Cons: Longer Commute (but I will probably relocate since I would finally be able to buy something shortly), somewhat of a lateral career move. Basically I’m wondering how a ~ lateral movement looks in the big picture? I would be going to this position from portfolio reconciling/opening/closing/servicing accounts at an RIA. I’m leaning on the jump if an offer arises from the interview next week, but I simply wanted to make sure a ~lateral movement is not the kiss of death for moving up in the future. Thanks Guys!

Whats BO?

back office

This is clearly NOT a lateral career move. $15k salary bump and at least one non-BO responsibility (“Performs initial review and/or prepares recommendations for portfolio transactions based on Investment Policy Statements.”). Will not handicap future job searches at all. $10k-$15k is not insignificant as a ratio to your current salary. If you don’t see the commute as a big negative, this sounds like a no brainer.

Thanks newsmaker. I feel the same way.