Investment Management & Guidance, Alternative Investments (IMG AI) is dedicated to identifying the best managers, funds and strategies to fulfill client asset allocation mandates across the Bank of America and Merrill Lynch platforms. IMG AI supports Merrill Lynch, Bank of America and US Trust clients and associates. This position will be based in New York City.
This Analyst will support the Hedge Fund Due Diligence and Portfolio Management processes by providing investment due diligence on hedge funds across investment strategies. This position will support the breadth of products across the combined Bank of America and Merrill Lynch platforms and will be responsible for:
• Monitoring existing hedge funds in which the group has invested, and tracking and maintaining portfolio information and other related data.
• Preparing written findings and presenting those findings in internal group meetings.
• Preparing monthly commentary and data on hedge funds for use in monthly and quarterly letters.
• Tracking and assessing monthly risk data, constructing investment reports, and assisting in various data projects.
• Working with the team to help identify existing and emerging hedge funds worthy of deep investigation
• Assisting with comprehensive due diligence on new funds, including evaluating stated strategies, the investment process, risk controls, team capabilities, fund particulars (such as structure, domicile, fees, and other factors), and an array of quantitative measures.
• Assisting in portfolio construction, rebalancing, and monitoring through portfolio analysis, review and research.
• Analyzing risk and return profiles as well as performing pro forma portfolio analysis.
The successful candidate will possess the following:
• Two to five years of experience in the financial sector. Special consideration will be given to those with experience in the analysis of hedge funds or traditional equity and fixed income funds. Experience on the buy-side or sell-side, in corporate finance, management consulting, or other research-oriented roles may be an acceptable substitute. Equal consideration will be given both to analysts who are currently generalists and to those who specialize by distinct strategies.
• An undergraduate degree from a top- tier educational institution is required. A graduate degree or CFA designation, or progress towards the CFA designation, would be highly beneficial.
• Strong quantitative and modeling skills and experience are required. A demonstrated ability to interpret statistics such as returns (measured over different time periods and market conditions), risk measurements and correlations is essential.
• Demonstrated sound qualitative judgments on managers. Ability to assess investment process, team, risk controls, and other fund particulars (such as liquidity, vehicle structure, fees, and domicile) combined with the capability to evaluate whether they are being executed properly.
• Ability to dig deeply into portfolios and understand the sources of return and the elements of risk.
• A passionate interest in investments or finance and strong analytical, research, and organizational skills are required. A network of contacts helpful in conducting research, such as relationships in the hedge fund community, or with prime brokers or sales and trading professionals would be helpful.
• Strong written and oral communication skills.
• Superior attention to detail and the ability to independently manage multiple projects in an accurate and timely manner is essential.
• Must be a team player with a desire to work in a collegial environment.
Bank of America - 17 months ago
Bank of America Corporation is a bank holding company. Through its banking subsidiaries (the Banks) and various non-banking subsidiaries...