Founded in 1931, Mairs & Power, Inc. is Minnesota's oldest independent investment firm under continuous ownership and management. We offer an array of investment products to individuals, companies, and organizations. We are seeking candidates for the position of Mutual Fund Shareholder Client Service Leader.
Job Title: Director of Institutional Asset Management
Reports To: Chief Executive Officer
Department: Institutional Asset Management
FLSA Status: Full-Time / Exempt
Location: St. Paul, Minn., with a hybrid work model (remote flexibility, with some in-office work required)
Summary:
The Director of Institutional Asset Management will lead the firm’s efforts in developing and maintaining relationships with existing and new institutional clients. This position provides services to institutional clients covering a range of investment matters, including buying and selling securities, portfolio monitoring, performance measurement, and regulatory and client reporting. While not responsible for conducting fundamental company research, the ability to clearly communicate Mairs and Power’s investment philosophy and the current view on portfolio holdings is critical to this position. The Director will also develop clear objectives to grow the institutional business and regularly report progress to senior management.
Essential Job Functions and Duties:
Institutional Asset & Relationship Management
- Responsible for developing and maintaining relationships with existing institutional clients, consultants and large institutional direct mutual fund shareholder
- Develops and implements investment strategies that reflect agreed upon client objectives, interacts with clients and answers questions about agreed upon strategy
- Oversees the trades made in portfolios utilizing approved working lists of securities
- Interfaces with research analysts and portfolio management team while maintaining an in-depth understanding of the Mairs and Power investment philosophy and process, portfolio construction, fund positioning and related risk metrics
- Implements investment policies, procedures and actions developed as a member of the Investment Committee
- Operates within the framework of governing account documents, federal (SEC) and state statutes, rules and regulations, and departmental compliance policies and procedures
- Provides input and analysis, including the review of existing client accounts, the investment advisory brochure, prospective client presentations and RFPs
- Attends Investment Committee meetings, company management meetings, and DCA presentations and other ad-hoc committee meetings, as assigned
Institutional Business Development
- Responsible for developing and overseeing efforts to expand the institutional client business across various platforms: Consultant driven, direct investment, RIA intermediary channels and direct mutual fund investment
- Interface with Marketing and Communications team to craft and deliver appropriate marketing and communication materials to existing and prospective clients
- Play a leadership role in the development of new products by understanding market trends affecting the Institutional marketplace
- Develop and maintain external networks and referral sources to ensure ongoing growth of the institutional business
- Maintain close working relationship with executive management and provide input to effectively plan, design, develop and evaluate department initiatives that support organizational strategic and tactical goals
Skills and Abilities:
- Proven leadership skills
- Strong knowledge of competitive landscape, industry dynamics and institutional market trends
- In-depth knowledge of capital markets
- Relationship management experience with discretionary portfolios for institutional clients
- Possession of outstanding organizational skills and the ability to manage and balance multiple priorities
- Strong interpersonal communication skills, including written and verbal
- Demonstration of initiative, problem solving ability, adaptability, and flexibility
- Familiarity with MS Office products and Salesforce CRM
- Willingness to travel
Education/Experience:
- Bachelor’s Degree required
- Minimum of 10 years’ experience in financial services with experience in sales, business development or relationship management
- Demonstrated track record of developing relationships with institutional investors and/or consultants
- Preferred designations: Chartered Financial Analyst (CFA) or Master of Business Administration (MBA)
What We Offer:
Mairs & Power offers a comprehensive benefits package to full-time regular employees and competitive compensation.
To apply: Please email your cover letter and resume.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Our 100% employee owned firm manages more than $10.5B in AUM across three mutual funds, one ETF, and individually managed accounts that serve individuals, families and organizations. We believe the best way to make money for our clients is to consistently utilize a disciplined long-term investment approach. We focus on companies with consistent, above-average growth, above-average returns on invested capital and durable competitive advantages.
At Mairs & Power, we believe integrity is the cornerstone of our values. We provide an atmosphere that rewards long-term success over short-term returns by encouraging our employees to solve problems through innovation, inclusivity, and collaboration. We are focused on doing what is right and cultivating the best ideas by consistently investing significant resources in our business to ensure we maintain a competitive advantage. We celebrate each unique perspective and reward the contributions of all our employees.