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Neuberger Berman Head of PWM Business Control in New York, New York

Summary

  • The PWM business at Neuberger Berman is comprised of approximately 50 portfolio management / wealth advisory teams managing $70bn in assets for individuals, families and trusts. PWM offers a full range of wealth strategies and investment management capabilities across equities, fixed income, private markets and uncorrelated strategies. The PWM Business Control Team is a high-impact unit focused on onboarding of complex mandates and products, oversight of control functions and related business exceptions. The Manager or Head of PWM Business Control will have the opportunity to lead and build out a team.

Responsibilities

  • Complex Mandates and Products

  • Lead onboarding of complex, multi-asset class client mandates, with customized elements outside standard operating model

  • Partner with key stakeholders across Senior Management, Infrastructure, Legal and Technology to determine solutions for new client mandates and tactical/strategic priorities

  • Implement setup of complex new investment vehicles such as private equity/hedge funds, exchange-traded funds, coordinate new product launches (as appropriate) and represent the PWM business

  • Evaluate active processes/procedures for existing strategies/products and look to streamline and improve

  • Advisory Program Oversight

  • Oversight of portfolio implementation including investment policy statement generation, asset allocation/strategy proposals and wealth analysis plans for discretionary and non-discretionary client relationships

  • Ensure customized portfolio proposals for client relationships are in line with stated risk profiles, investment objectives, liquidity needs and Investment Strategy Group (ISG) portfolio guidelines

  • Address exceptions and out of tolerance proposals with PWM teams, escalation of exception items to ISG (as appropriate)

  • Partner with ISG, Infrastructure and Technology teams to define workflow/rules/automation required for new oversight tools

  • Fee Schedule Oversight

  • Oversight of all parameters related to investment advisory fee schedules (including fees and commissions)

  • Own setup of new fee schedules, storage of fee schedule numbers and rates, business approval of non-standard fee schedule rates and fulfillment of related documents for PWM

  • Business Exceptions

  • Partner with stakeholders and coordinate responses to Audit inquiries

  • Coordinate with Legal and Compliance to review, analyze and resolve client complaints

  • Perform analysis of complex trade error situations, determine appropriate financial responsibility (as needed) and ensure remediating action is taken

  • Review/approve outside business activities and third party private placements for employees

  • All Other Business

  • Responsibilities are expected to evolve to meet critical business needs

Qualifications

  • SIE, Series 7, 66 and 24 licenses required

  • Bachelor’s degree required, advanced degree and industry designations such as CFP, CFA, FRM preferred

  • 12-15 years industry experience in private wealth management with business control mindset preferred

  • Goal-oriented and a true team player; the highest integrity as it relates to corporate standards and compliance

  • Ability to use sound judgment and critical thinking to investigate, evaluate and resolve complex issues

  • Highly motivated with excellent attention to detail and time management skills

  • Excellent interpersonal skills and ability to communicate with all levels of personnel

Neuberger Berman is an equal opportunity/affirmative action employer. The Firm and its affiliates do not discriminate in employment because of race, creed, national origin, religion, age, color, sex, marital status, sexual orientation, gender identity, disability, citizenship status or protected veteran status, or any other characteristic protected by local, state, or federal laws, rules, or regulations. If you would like to contact us regarding the accessibility of our website or need assistance completing the application process, please contact onlineaccommodations@nb.com .

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