JPMorgan's Portfolio Manager

I recently came across a job posting for a Portfolio Manager at JPMorgan and was surprised at the required qualifications:

  • Bachelor's Degree
  • 1-3 years work experience in financial services industry
  • Demonstrated passion and understanding of investment solutions
  • Private Wealth Management experience a plus
  • Detail oriented
  • Process focused
  • Ability to operate in a fast-moving and demanding environment
  • Enjoy working with people
  • Strong aptitude to identify and minimize investment/business risk

A Breif Summary of The Portfolio Management Role

The role of the portfolio manager depends on the structure of the organization you are working for. You can often get a sense of where you'll sit in the hierarchy based on the job requirements of the position. If the job description requires limited work experience and education, most likely you will be assisting a Senior PM rather than taking the lead yourself. This is still an excellent opportunity to get your foot in the door if this is a career path you are interested in.

It is similar to the Private Wealth Management role which Wall Street Oasis offers an in-depth look at in another article.

User @Flake offers his insight regarding the above listing:

I would think that a PM would need more than experience. I'm currently in WM for MS and wouldn't mind going into a non-producing role as a PM. Is anyone familiar with this position? Is JPM that lenient when it comes to hiring? What is the role of a PM for a larger firm like JPM?

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Comments (16)

Mar 15, 2012 - 10:59am
wsutopia, what's your opinion? Comment below:

I looks like it. The job posting was for a PM but it leads me to think you might be part of a team working for a Senior PM or something. I'm really not sure about the organization structure in Asset Management.

Wall Street Utopia http://www.wallstreetutopia.com
Mar 15, 2012 - 11:37am
SaucyBacon85, what's your opinion? Comment below:
wsutopia:
...it leads me to think you might be part of a team working for a Senior PM or something.

Im with you there...kinda like an "Account Manager" (ie sales clerk) in a sales department. It's probably just a senior analyst position...still hella good tho considering its JPM.

__________
Mar 15, 2012 - 11:31am
Flake, what's your opinion? Comment below:

This looks like an entry level PWM role with a misleading title.

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
Mar 15, 2012 - 11:37am
wsutopia, what's your opinion? Comment below:

Below is the full job posting. It looks like the PM works with the PWM division but I'm not sure in what capacity.

Job Description

PMG Portfolio Manager-120013790

Job Description

JPMorgan Chase & Co. is a leading global financial services firm with assets of $1.6 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset and wealth management, and private equity. Under the JPMorgan and Chase brands, the firm serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients.

If you're interested in working in an environment where leadership, excellence, integrity and diversity are among our core principles, then explore the opportunities at JPMorgan Chase. Further information about careers at JPMorgan Chase can be found on our website: www.jpmorganchase.com.

JPMorgan's Private Wealth Management (PWM) group provides advice, strategies, and solutions for all aspects of the financial, asset management, and wealth transfer needs of high net worth clients.

The Portfolio Management Group (PMG) is the implementation engine for Private Wealth Management's discretionary investment business, providing leverage for investment advisors and other front office partners as they pursue the Firm's growth initiatives. PMG is responsible for implementing the investment strategy and portfolio construction as dictated by the PWM Strategy team. PMG rebalances and manages risk in accounts across our investment management and trust portfolios.

The Portfolio Manager will have the following responsibilities:

Primary responsibility for specialty products including the Thematic Advised Portfolios Implementation of portfolio construction based on Strategy team's calls and investment vehicle selection Maintain knowledge of the investment solutions utilized throughout PWM, including, mutual funds, exchange traded funds, structured notes, hedge funds, and separately managed accounts Maintain knowledge of each account's unique requirements and sensitivities Review and trade portfolios · Manage orders and execute trades (equity and fixed income) across managed account business including the following:

New account initial investing Monitoring cash and security activity in clients accounts Liquidating accounts Monitoring accounts for model drift and strategy deviation Relationship management with internal clients (client facing teams) Work with various internal partners to complete business initiatives

Qualifications

Requirements:

Bachelor's degree 1-3 years work experience in financial services industry Demonstrated passion and understanding of investment solutions Private Wealth Management experience a plus Detail oriented Process focused Ability to operate in a fast-moving and demanding environment Enjoy working with people Strong aptitude to identify and minimize investment/business risk

JP Morgan Chase offers an exceptional benefits program and a highly competitive compensation package. JP Morgan Chase is an Equal Opportunity and Affirmative Action Employer, M/F/D/V.

Job Portfolio/Fund Management Primary LocationUS-OH-Columbus Organization Asset & Wealth Management Schedule Full-time Job Type Standard Shift Day Job Employee Status Regular

Wall Street Utopia http://www.wallstreetutopia.com
  • 2
Mar 15, 2012 - 11:54am
SaucyBacon85, what's your opinion? Comment below:
wsutopia:
PMG is responsible for implementing the investment strategy and portfolio construction as dictated by the PWM Strategy team.

i.e. sell products we tell you to. Sounds pretty shitty to me. I see nothing in this JD that hints at anything intellectual...execute this...process that. Pure sales/admin.

Still...if you're looking to add brand power to your CV, JPM's a good start.

__________
  • 1
Best Response
Mar 15, 2012 - 12:14pm
Flake, what's your opinion? Comment below:
SaucyBacon85:
wsutopia:
PMG is responsible for implementing the investment strategy and portfolio construction as dictated by the PWM Strategy team.

i.e. sell products we tell you to. Sounds pretty shitty to me. I see nothing in this JD that hints at anything intellectual...execute this...process that. Pure sales/admin.

Still...if you're looking to add brand power to your CV, JPM's a good start.

I still think it sounds better than regular PWM shit. But yeah I agree that it's probably all execution and processing, mixed with some risk management maybe?

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
  • 3
Mar 15, 2012 - 11:50am
Flake, what's your opinion? Comment below:

Probably like a very junior/assistant PM working along a few others in supporting the more senior PM/strategists. Sounds sexy for PWM. Also sounds like you are just executing and not really analyzing or picking anything.

I'm sure those requirements are just standard/bare minimum and it's something HR puts on most job descriptions.

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
  • 1
Mar 15, 2012 - 2:06pm
wsutopia, what's your opinion? Comment below:
CaliforniaAnalyst:
portfolio manager means different things in different field... it just means trader at my place...

I have the feelings that its just a fancy title for trader...nothing wrong with being a trader tho...but like someone else said, "Who wants to live in Ohio???"

Wall Street Utopia http://www.wallstreetutopia.com
Mar 15, 2012 - 11:51am
wsutopia, what's your opinion? Comment below:

Coming from WM this sounds really sexy!

Wall Street Utopia http://www.wallstreetutopia.com
Mar 15, 2012 - 12:21pm
jeffsmonte, what's your opinion? Comment below:

Sounds good enuff to me, Id gladly accept this position, and I sure as heck meet the qualifications.

Mar 15, 2012 - 12:26pm
Probabilitypossibility, what's your opinion? Comment below:

who wants to live in ohio?

I used to be indecisive, now I'm just not sure.
Mar 15, 2012 - 2:15pm
Something Creative, what's your opinion? Comment below:

Execution experience is actually really important for a PM to have, and not many places let you execute. It sounds like a Portfolio Associate type of role at a general shop, so not quite PM, but execution experience coupled with a CFA would really help you make PM somewhere down the line. I think it sounds like a good gig.

"It is hard to fail, but it is worse never to have tried to succeed." Theodore Roosevelt
  • 1
Mar 15, 2012 - 3:44pm
DJ LIBOR, what's your opinion? Comment below:

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