Our client is a $5 billion Pension Plan and Benefits Fund providing retirement benefits and health insurance for Registered Nurses and other medical professionals in New York state represented under collective bargaining between a large Nurses Association and various employers.
The Investment team, consisting of seven investment professionals (and two Administrative Assistants), is responsible for oversight of approximately $5 billion in total assets, with allocations to public and private equity, traditional and alternative fixed income, hedge fund of funds, private real estate, infrastructure and income generating asset classes.
The Director of Operational Due Diligence will be responsible for building out an institutional quality ODD process. The candidate will be expected to work with the Investment Analyst team in establishing appropriate parameters, making recommendations from a global network of investment management firms and be responsible for
1) assessing whether an investment is within acceptable parameters of operational due diligence underwriting standards; and
2) monitoring investments on an ongoing basis from an operational risk perspective. The position reports to the Chief Investment Officer, and will work closely with the Director of Research, Investment Department Manager, and the Investment Analyst team.
Location: Remote working a possibility based on circumstances and applicant qualifications with occasional travel to a base location in the Northeast
Travel: 10 – 20%
Essential Duties and Responsibilities:
• On-site meetings with investment managers/operations professionals globally • Review of investment manager legal documents, financial statements, policies & procedures, business continuity plans, review of third-party service providers, regulatory compliance, and other relevant operations procedures • Desire to continually improve and learn with changing market conditions • Understanding of general industry best practices or willingness to use a network of industry professionals to learn best practices in all areas of operational due diligence and procedures • Create an operational due diligence report with recommendations for internal use and for presentation to the Trustees • Demonstrate a commitment and contribution to fostering and advancing diversity and inclusion
• Minimum of 5 years of relevant work experience at an investment management firm, accounting firm, public pension, endowment, foundation, family office, or other similar organization • Self-disciplined, self-motivated, detail-oriented, and curious • Ability to build strong relationships • Strong analytical, written, and verbal skills • Ability to work independently and within a team environment • Demonstrate a record of consistently adhering to the highest ethical standards and professional conduct • Knowledge of asset classes and investment structures • Understanding of investment manager contracts and legal documents • Minimum of a bachelor’s degree in finance, accounting, economics, business administration or other relevant discipline • Graduate degree or relevant certifications/designations (i.e., CPA, CFA, CIA or CAIA) preferred (or working towards completion of relevant degrees/certifications) • Proficiency in Microsoft Office
Examples of Relevant Experience:
• Carrying out operational due diligence • Carrying out internal control audits • Serving within and internal audit department • Experience working with a fund administrator
This Pension Plan & Benefits Fund offers a competitive salary, participation in a defined benefit pension plan, 401k savings plan, and benefits package (which includes medical, dental, vision, and prescription drug coverage) This Fund is committed to hiring a diverse and talented workforce. EEO/Disability/Veteran.
Telecommuting is allowed.
Additional Salary Information: Excellent Health benefits package and pension offering