The Business Associate (BA) Program is an exciting pathway into our firm for graduating, undergraduate Bachelor’s students who are interested in the variety of career opportunities available in the investment management industry. This three-year, Boston based program will help you gain insight into our industry, firm and culture, as well as, knowledge of the many different business divisions that support our investment functions.
As a Business Associate the first half of the program will be about developing your business and technical skillset all while assimilating into the firm, your job and our culture. The second half of the program, you will be discovering your long- term fit here at the firm and will be placed into positions across the firm that are complementary to your skills, interests, and business needs. BAs have successfully transitioned into roles on their current BA teams, onto other teams in the firm and into other offices (here in the US and across the globe.)
We expect new entrants to join the Business Associate Program in July 2022. During your first two weeks with us, you will be assimilated into the firm through our Base Camp Development Program. This program is designed to equip you with new skills and knowledge of our clients, industry, firm, and culture while developing a strong internal network that will set you up for a successful transition into the firm. By investing in your personal growth on day one, you will help us continue to exceed our client’s expectations.
There are multiple departments across the firm that are looking to hire BAs for 2022. All roles below are all based in the Boston office. If you are interested in global BA roles, please continue to check the website for those openings. Please read the descriptions below for more information on each role. When you apply, you will be able to select the departments in which you are interested. While we encourage a broad interest, we do expect you to narrow down the roles to your top choices.
The Client Platform is one of the firm’s three platforms, is comprised of over 600 employees globally, and is responsible for aligning the firm’s investment expertise with client needs now and in the future. As a Business Associate, you will have the opportunity to work within one of the following functions that sit within the Client Platform: Client Group, Competitive Intelligence, or Product Management (details below). These roles are well suited for someone who is seeking to learn about the investment industry broadly, work collaboratively across functions, and build business management, project management, and analytical skills. Working in these roles requires a high degree of intellectual curiosity, attention to detail, written & verbal communication skills, proactivity, and enthusiasm. Specific assignments will be determined based on business need and career interest.
Client Group: The Client Group is dedicated to providing high quality service and investment solutions to all of Wellington Management’s clients, prospects, and consultants. Wellington Management serves an extremely diverse mix of institutional investors located in over 60 countries. Our clients include public funds, central banks, insurance entities, endowments, foundations, mutual fund sponsors, retirement plan sponsors — both defined benefit and defined contribution — and many other types of institutions. We view business development and relationship management as a point of differentiation among our peers. Our experienced professionals are typically specialized by client type and geography. In carrying out their respective functions, they will take into consideration local nuances and channel differences to ensure a thorough understanding of the unique needs of prospects and clients by being proactive, forward-thinking, and effective communicators. Responsibilities of a BA working within the Client Group may include, but are not limited to:
- Prepare presentation materials, briefing materials and other collateral materials for prospect calls and meetings as well as new business opportunities with existing clients
- Organize prospect and client meeting follow-up items and respond to ad hoc requests, as needed
- Qualify Requests for Proposal (RFPs) and work with internal constituents to ensure that each RFP receives the appropriate response
- Assist with analytics and competitor analysis
- Manage Salesforce to allow members of the Client Group to better coordinate client/prospect information and insights
- Attend various internal cross functional meetings
- Collaborate with members of the department to support external relationships with clients, prospects, and consultants
- Work on ad-hoc projects to support our overall client effort
Competitive Intelligence: The Competitive Intelligence team enhances the firm’s product, market, and business intelligence to better prepare and position our personnel for client, consultant, and prospect conversations, which in turn will allow us to more effectively grow the top-line and better defend existing mandates. The team also aims to provide digestible and actionable information so leaders across the firm can make more-informed decisions and set priorities more effectively (e.g., assess the commercial viability of product ideas being considered for development). To accomplish these objectives, team members are in-house experts on a variety of third party and Wellington-designed analytical applications, and focus on automation and scalability wherever possible. Responsibilities of a BA working within Competitive Intelligence may include, but are not limited to:
- Provide market, investment, business, and competitive intelligence to better prepare and position our personnel for client, consultant, and prospect meetings & discussions
- Complete analytics-related projects under tight time constraints by using internal and third-party systems
- Act as a technical and systems resource on the team by developing detailed and in-depth knowledge of various in-house and third-party applications (e.g., Excel, Barra, eVestment, Enterprise Reporting, FactSet, IQT, Morningstar Direct, Performance Reporter, etc.)
- Liaise between the business and the technology groups to provide specifications, help develop and test the applications/reports, and ensure timely deliveries
- Work with the team to create business reporting solutions that maximize the use of automation so teams across the firm are spending more time on data analysis and less time on data retrieval and consolidation – as part of this effort, we have developed and will develop new reports and tools that allow us and teams across the firm to work more efficiently
- Collaborate on ad hoc cross-functional projects/initiatives
Product Management: Our Product Management teams specialize by asset class and work closely with our investment teams, relationship teams, and business colleagues across the firm to support our clients’ investment needs and drive business retention and growth. The key areas of focus for these teams include product marketing and representation, investment integrity and risk management, and product book of business management. Product management teams contribute to client growth and retention by assessing business opportunities and leading business planning, developing new products and investment solutions, creating the communication strategy, including materials that differentiate the product relative to competitors and acting as a subject matter expert and portfolio representative for colleagues, clients, and consultants. Responsibilities of a BA working within Product Management may include, but are not limited to:
- Develop a deep understanding of alternative investment approaches and markets
- Respond to internal and external inquires related to specific investment approaches and markets
- Perform analyses related to portfolio positioning, performance attribution, market trends, competitive positioning, and pricing
- Develop or enhance investment integrity and book of business reporting
- Work with reporting and relationship analysts to prepare investment marketing and client materials, draft portfolio commentary, and respond to prospect RFPs
- Interact with experienced investment teams, including portfolio managers and analysts, to oversee the portfolio and understand positioning, risk, and outlook
- Collaborate on the development of client solutions and launch of new investment strategies
- Support projects and cross-functional workflow related to specific business initiatives
COO Group – Sustainable Investments
The objective of the Sustainable Investments (SI) COO Team is to operationalize Wellington’s strategic vision for sustainability and ESG. This includes cross-platform efforts to evolve internal infrastructure including business policies and processes, data and technology, stewardship and proxy voting, client reporting, product disclosure, business analytics, and develop and execute the SI operational strategy to meet our investment, client, and regulatory imperatives.
More details to come.
Finance & Administration
The Finance and Administration division is a global department, comprised of multiple teams: Financial Operations, Global Accounting, Workplace Services, and Global Tax Services.
As a Business Associate (BA), you will have an opportunity to rotate across multiple teams in Finance and Administration, beginning with a one-year rotation in Global Accounting. Examples of second and third one-year rotations are: Treasury, Tax Services, and Financial Planning and Analysis (FP&A). The BA will be responsible for accounting duties as it relates to the monthly accounting close for Wellington’s legal entities. The ideal BA would be detail-oriented, have strong organizational skills, be comfortable collaborating in a team setting, and willing to ask questions. Strong analytical aptitude and data management skills are essential in this role, along with proficiency in Microsoft Office, specifically Excel.
Responsibilities may include, but are not limited to:
- Ensure the books and records of assigned legal entities are maintained in accordance with GAAP
- Assist with the preparation of financial statements in conjunction with annual audits
- Prepare filings and surveys for a variety of regulatory agencies with adherence to strict deadlines
- Recommending process improvements leveraging any technological expertise
- Assist with daily cash management processes including payment execution, liquidity management, and forecasting
- Perform analysis and trade execution related to foreign currency activities, hedging, and long-term investments
- Prepare monthly and ad hoc reporting on hedging results, investments, and liquidity management
- Assist with the annual budget and quarterly forecast updates, including work on the consolidated forecast model
- Assist with monthly expense analysis for multiple divisions, including reporting and direct meetings with leadership
- Assist with various projects related to financial modeling/strategic investments
- Preparation of tax basis accounting work papers and other work papers supporting tax filings
- Prepare quarterly estimated tax payment calculations and annual extensions.
The Global Trading team is a fast paced collaborative team environment where impactful decisions are made on a daily basis to help exceed our clients’ expectations. The team works collaboratively across teams such as Portfolio Management, Research and Information Technology to ensure our executed trading strategies are in line with our clients’ and firm’s strategic goals. The trading desk also interfaces externally with the broker/dealer community to ascertain market opportunities on behalf of our clients.
As a Business Associate, you will be provided with the unique opportunity to rotate across all aspects of Trading over a three-year period. Rotation lengths will vary based on business need. Through our program’s rotations, you will acquire knowledge of the entire trading process from execution through settlement. You will also acquire knowledge about relationship management, security evaluation and the global trading of Fixed Income and Equity securities.
Responsibilities may include, but are not limited to:
- Confirm trade details
- Develop advanced understanding of Bloomberg functionality
- Build market monitoring models
- Analyze securities
- Analyze trade patterns and transaction costs
- Complete internal trading related projects
- Trade global securities
The Human Resources Division is responsible for overseeing and providing a broad range of HR services and programs to the firm globally. The Business Associate will work within our HR Generalist function and be exposed to a variety of work, business functions and functional areas within Human Resources. This role will provide practical experience in several important areas of HR including talent acquisition, learning and development, employee relations, compensation and benefits, talent analytics and diversity and inclusion. This opportunity will provide the BA with the experience, knowledge and skills in a progressive and dynamic business environment intended to develop and prepare HR professionals to be future HR leaders.
As a Business Associate, you will work within our HR Generalist group supporting different areas of the firm. The Human Resources Generalist group provides support to business management and their management teams to develop and implement the people strategy to support each business area of the firm, including strategic and organizational planning. The services provided by the Generalists are fundamental to our ability to deliver human resources services to our business area in a tailored and effective way.
Responsibilities may include, but are not limited to:
- · Analyze HR data
- · Recruit and on-board new employees
- · Utilize Workday to manage Employee transactions
- · Coordinate projects for Diversity and inclusion
- · Coordinate mobility programs & services
- · Consult internally across all levels and locations
- · Plan for department based resources
- · Organize and execute on employee relations issues
Legal & Enterprise Risk Management
The Legal & Enterprise Risk Management group is a global team that is comprised of two highly collaborative functions that support all aspects of our business: Legal and Enterprise Risk Management.
As a Business Associate, you will be in a rotational opportunity that will include a one year rotation in the US Compliance function, a one year rotation in the Legal function with the third rotation to be decided based on development opportunities and business need.
Responsibilities may include, but are not limited to:
- Monitoring personal trading, gifts and entertainment, political contributions, conflicts of interest and other related areas for compliance with our Code of Ethics
- Participating in our compliance and forensic testing program to determine the firm’s compliance with its policies and procedures
- Assisting in the preparation and filing of global regulatory and beneficial ownership filings
- Partnering with compliance officers and analysts on special projects supporting the compliance program
- Supporting capital markets initiatives related to derivatives trading and private equity transactions
- Participating in a new fund launch for our hedge fund business
- Assisting in the review and negotiation of investment management agreements to support our institutional client business
- Partnering with attorneys or analysts on special projects to support regulatory initiatives
- Undergraduates from all majors graduating with a Bachelor’s degree between Fall 2021 – Summer 2022
- Demonstrated interest for investment management
- Proficiency in Microsoft Office, specifically in Word, PowerPoint and Excel
- Demonstrated accomplishments in academics
- Proven leadership experience and participation in community service and extracurricular activities
- Superior written and verbal communication skills
- Highest ethical standards and integrity
- Well organized, ability to multi-task and detail-oriented
- Strong work ethic and professionalism
- Sharp quantitative, analytical and problem-solving skills with ability to synthesize information
- Highly motivated self-starter, who knows how to take initiative, and has a high level of intellectual curiosity
- Ability to thrive in a collaborative, fast-paced environment
Application information can be found via the job application page (Wellington.com > Careers > Campus Programs > View Jobs): https://www.wellington.com/en/campus-programs/
Qualified candidates must submit:
- Résumé, 1 page length
- Statement of interest, 1 page length, indicating: (a) why you are interested in Wellington and (b) what roles you are interested in the program and why
- Unofficial transcript (condensed to a few pages, please don’t send >5 pages)
All documents should be submitted at one time, bundled in PDF format titled with your Last and First name. You will submit on Workday where it says Resume/Cover Letter. Please note that you cannot change or update your application after you submit it.
Deadline to apply is Wednesday, 13 October 2021 at 12pm EDT.
Qualified candidates will be notified of their application status on an on-going basis but mainly after the application deadline. If selected to continue, first round phone screens may be scheduled with a Campus Recruiter. Final round interviews will take place virtually the first weeks of November.
The start date for the program is July 2022.