The Role
As an ETF Portfolio Manager, you will manage index portfolios, optimize trading strategies, ensure compliance, and collaborate with teams to enhance operations. Experience in ETF management is essential.
Summary Generated by Built In
It’s rare that a new asset class is born. Nevertheless, we’re witnessing exactly that with the rise of crypto. Over just the last few years, since Bitwise was founded, crypto has evolved from an embryonic $50B market to a growing $3T+ juggernaut. At Bitwise, we believe that crypto has reached a turning point, and is headed north of $10T over the next few years.
This is an exciting moment for Bitwise as a firm. For eight years, we have established a track record of excellence managing a broad suite of index and active solutions across ETFs, separately managed accounts, private funds, institutional staking, and hedge fund strategies. This year, we crossed $15B in client assets and are growing quickly. Thousands of financial advisors, family offices, and institutional investors partner with Bitwise to understand and access the opportunities in crypto. We are known for providing unparalleled client support through expert research and commentary, a nationwide client team of crypto specialists, and deep access to the crypto ecosystem.
Currently, Bitwise is a close-knit team of 100+ global professionals. Think of us as a mix of an asset manager and a tech start-up. We’re backed by some of the most accomplished investors in venture capital and veterans of the financial services world. We love working together, we love what we do, and we’re excited about what’s ahead.
As a member of the ETF and Index Portfolio Management team you will professionally manage Bitwise’s suite of index products including ETFs, private funds, and SMAs. In this daily production environment, you will ensure tight portfolio performance to benchmarks while keeping top of mind all procedures and controls to minimize operational risk and trading errors. You will provide timely trade execution for subscriptions/redemptions and create/redeems, all index rebalances and model changes, in accordance with the investment objectives of the portfolios. You will analyze performance, produce performance attribution and handle basket files, and NAV questions. You will work with our third party service providers to ensure the integrity of our daily NAVs and basket files. You will be the primary point of contact for all index data related questions, own follow up and issue resolution with index providers. You will manage relationships to support efficiencies in daily product operations.
This role will be based in our San Francisco office and will have a hybrid work schedule. This includes working some days in our San Francisco office and some remotely. This role could possibly be based in our New York office, but would work West Coast hours, approximately 12:00pm to 9:00pm ET and would have a hybrid work schedule. This would include working some days in our New York office and some remotely.
Primary Responsibilities:
- Portfolio Management:
- Manage index portfolios in multiple wrappers (ETFs, private funds, SMAs) within assigned parameters and tolerance levels.
- Manage assigned portfolios to meet performance standards consistent with fund investment objectives while adhering to fund specific and regulatory requirements.
- Proactively manage trading strategies, corporate action elections, tax mitigation strategies and/or other ad-hoc opportunities.
- Stay current on regulatory requirements and ensure portfolios remain compliant.
- Understand asset valuations in portfolios utilizing market information.
- Recognize portfolio risk situations and escalate appropriately.
- Attribute fund performance, understand and minimize sources of portfolio risk relative to benchmarks.
- Ensure prudent risk management with carefully developed investment and operational processes.
- Follow procedures and processes, monitor portfolio activity and performance.
- Trading:
- Trade multiple asset classes including derivatives, equities, futures, options, T-bills, crypto currencies, and other digital assets.
- Utilize multi-asset management experience to accurately monitor and trade portfolios across a variety of asset classes with best practice approach to trade execution.
- Execute trades in multiple workflows, minimize transaction impact and cost.
- Run a full trading lifecycle from PM order to trade execution to settlement.
- ETF & Index Operations:
- Support new product launches by drafting prospectuses, related documentation and marketing materials.
- Accurately interpret and implement relevant index methodology, including rebalance changes.
- Proactively contribute to PM & trading systems/investment process enhancements.
- Ability to build relationships and work with internal and external colleagues to get new initiatives executed.
- Additional Responsibilities:
- Liaise with other internal teams including sales and trading, investor relations, fund administration, research and legal.
- Effectively communicate, both orally and in written form, with a diverse group of junior and senior parties, both internal and external.
- Mentor other portfolio managers and assist in their growth and contribution to the team.
Role Requirements:
- Bachelor’s degree, MBA or other relevant advanced certification.
- 10+ years of ETF and index portfolio management experience (Do not apply without ETF PM experience).
- Experience managing and/or trading 1940 Act Equity ETFs.
- Solid understanding of the index portfolio management process including index methodology and trading strategies.
- Comprehensive knowledge of ETFs, global markets and currency trading.
- Well-developed understanding of ETF operations including, basket file dissemination, NAV publications, and can troubleshoot issues with service providers.
- Understanding of the ETF arbitrage mechanism, the creation and redemption processes, and trade execution costs.
- Strong technical and analytical skills (Bloomberg and Advanced Excel).
- Proficiency in Microsoft Office, Google Apps, and portfolio management systems.
- Knowledge in SQL and a coding language such as VBA, Python, or Java is a plus.
- Experience implementing process improvements and project management.
- Excellent written and verbal communication skills and attention to detail.
- Strong will to learn and desire to be challenged.
- Ability to multi-task in a fast paced, team environment but are also self-directed, highly motivated, and able to work independently.
- Strong organizational skills and proactive planning, the ability to respond to urgent requests.
- Deep interest in cryptocurrency markets. Experience investing in crypto is a plus.
What We Offer:
- Compensation: $200,000 - $250,000 + Equity
- Equity compensation as a component of all offers
- Health insurance, including dental and vision plans
- Health, Dependent Care and Commuter Flexible Spending Accounts
- Paid Parental Leave
- Life insurance; short- and long-term disability plans
- Company-funded 401(k) plan, no matching required
- Unlimited PTO
- 10 paid company-wide holidays
- Company-wide winter break for most roles
- Office spaces in San Francisco, New York, and London
- Meals and snacks provided in office
- Paid company cell phone or stipend
- Bitwise “Buddy” Program (30-day new-hire success program)
- Annual birthday and anniversary gifts
- Company-wide events including annual holiday party
- Internal Women of Bitwise (WOB) group with fun events
Your Interview Process:
- Our interview process ensures the best fit for both you and Bitwise, and we strive to make each step valuable, insightful, and efficient.
1. Recruiter Interview
2. Hiring Manager Interview
3. Meeting the Team
4. Work Sample
5. Executive/Founders Interview
6. References
7. Offer!
Bitwise is an equal opportunity employer. We are committed to building a team of people with a variety of backgrounds, perspectives, and skills. It is the policy of Bitwise to ensure equal opportunity. All candidates are considered without regard to race, color, religion, national origin, age, sex, sexual orientation, gender identity, marital status, ancestry, physical or mental disability, veteran status, or any other legally protected characteristics.
Please note that we do not sponsor visas for persons without work authorization in the United States. This role is for full-time employees only (no B2B or contractors). Thank you!
Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records.
Top Skills
Advanced Excel
Bloomberg
Google Apps
Java
MS Office
Python
SQL
VBA
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The Company
What We Do
Based in San Francisco, Bitwise is one of the largest and fastest-growing crypto asset managers. As of May 7, 2021, Bitwise managed over $1.5 billion across an expanding suite of investment solutions. The firm is known for managing one of the largest crypto index funds (OTCQX: BITW), the first crypto industry ETF (NYSE: BITQ), and pioneering products spanning DeFi, Bitcoin, Ethereum as examples. Bitwise focuses on partnering with financial advisors and investment professionals to provide quality education and research. The team at Bitwise combines expertise in technology with decades of experience in traditional asset management and indexing—coming from firms including BlackRock, Blackstone, Facebook, and Google, as well as the U.S. Attorney’s Office. Bitwise is backed by leading institutional investors and asset management executives, and has been profiled in Institutional Investor, CNBC, Barron's, Bloomberg, and The Wall Street Journal.
