Job Description:

As part of the Merrill organization, the Investment Solutions Group strives to provide world-class investment strategies, platforms, solutions, and support for clients across all wealth management lines of business (including Merrill and the Private Bank). Through a highly effective Investment Process, they provide investment solutions across all product platforms and asset classes - equity, fixed income and alternative investments including structured products and specialty assets - through a comprehensive due diligence and oversight process for client portfolios. They also coordinate the investment strategy for wealth management advisors and clients, harmonizing and distilling market themes, identifying trends and supporting our client-focused investing approach.

Job Description:

The Hedge Fund Due Diligence Analyst works with the team to evaluate and monitor hedge fund investments for the Bank’s wealth management division. The position sits within Chief Investment Office (CIO) Due Diligence (DD), part of the Investment Solutions Group (ISG). The Hedge Fund Investment Due Diligence team within CIO DD is dedicated to identifying the best hedge fund strategies to fulfill client asset allocation mandates across the Bank of America platforms. CIO DD supports Merrill and Private Bank clients and associates. This position will be based in New York City 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 quarterly publications.
• 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, fees, liquidity terms and other factors) and an array of quantitative measures.
• Analyzing risk and return profiles as well as performing pro forma portfolio analysis.

Requirements:

The successful candidate will possess the following:

• An undergraduate degree is required. Bachelors degree from a top-tier educational institution is highly preferred, . A graduate degree or CFA designation, or progress towards the CFA designation, would be highly beneficial.
• Up to seven 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.
• 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) and risk measurements is essential.
• Demonstrated sound qualitative judgments on managers. Ability to assess investment process, team, risk controls, and other fund particulars 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.
• Must have a Series 7 and 66 or ability to achieve the licenses within 120 days

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