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Private Wealth Management - Investment Portfolio Manager

U.S. Bank · Chicago, IL · $131,670–$160,930 a year · Full time

Posted Sep 25, 2026 · We last checked this listing on Oct 6, 2026

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Likely interview questions for this role

Written from this job description, not a generic list. Each one notes what the interviewer is really checking.

About your past

Tell me about a time you retained a client who was considering leaving.

What they are checking: Whether they protect relationships, since retention drives the net growth goals in this role.

How do you work with the private wealth advisor and other specialists on client relationships?

What they are checking: Whether they share responsibility for growing and keeping relationships as part of a team.

Describe a time you had to make an investment decision with incomplete information.

What they are checking: Whether they make sound, documented decisions under uncertainty.

What would you do

Walk me through how you'd present an investment strategy to a client who isn't financially sophisticated.

What they are checking: Whether they can explain strategy clearly and build confidence without jargon.

The market dropped 20 percent and a client wants to move everything to cash. What do you do?

What they are checking: Whether they can calm clients and keep them on plan while respecting their wishes.

About the work

How do you build a portfolio for a trust account with both an income beneficiary and remainder beneficiaries?

What they are checking: Whether they understand fiduciary duty to balance current income and long-term growth.

How do you apply the firm's investment views while still tailoring portfolios to each client?

What they are checking: Whether they can follow house strategy and still respect client objectives, taxes and constraints.

How do you manage taxes in a taxable account, including gains and losses?

What they are checking: Whether they use tax-aware techniques like loss harvesting and asset location.

A client holds a large concentrated stock position from their old employer. How would you approach it?

What they are checking: Whether they know ways to manage concentration risk while considering taxes and emotions.

How do you keep track of investment objectives and suitability across many accounts?

What they are checking: Whether they stay organized and compliant across a large book of accounts.

Practice this interview out loud.

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The full job description

As published by U.S. Bank.

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One. Job Description Manages individual and/or trust account assets and investment relationships consistent with the established investment objectives and strategies of the company and/or the client. Strong focus on managing client account retention to meet Net Portfolio growth objectives of the company. Shared responsibility for soliciting, developing, managing, and retaining client relationships for Private Wealth Management (PWM). Basic Qualifications • Bachelor's degree, or equivalent work experience • 10 or more years of investment experience Preferred Skills/Experience • Thorough understanding of investment management • Strong knowledge of finance, economics and general business • Effective sales and relationship management/client services skills • Ability to effectively present investment strategies to clients • Ability to make critical decisions independently • Excellent interpersonal and verbal and written communication skills If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants . Benefits: Our approach to benefits and total rewards considers our team members’ whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following: • Healthcare (medical, dental, vision) • Basic term and optional term life insurance • Short-term and long-term disability • Pregnancy disability and parental leave • 401(k) and employer-funded retirement plan • Paid vacation (from two to five weeks depending on salary grade and tenure) • Up to 11 paid holiday opportunities • Adoption assistance • Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law Review our full benefits available by employment status here . U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law. E-Verify U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program . The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $131,670.00 - 160,930.00 U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures. Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies. Posting may be closed earlier due to high volume of applicants.

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