Director, Investment Operations
: Job Details :

OverviewThe Investment Office is responsible for the Library's $1.6 billion endowment investment program. Though the Library receives substantial funding from the City of New York as an independent non-profit entity, the spending generated by the endowment contributes crucial ongoing support to the Library's annual operating budget. The endowment portfolio is invested through external managers and is currently allocated across various asset classes and strategies, including domestic and international equities, marketable alternatives, private capital, real assets, and fixed income. Reporting to the Chief Investment Officer, the Director, Investment Operations is responsible for developing a strategic vision for best-in-class operational infrastructure of a global, multi-asset class portfolio. They are a critical part of the institutionalization of the Investment Office, which started five years ago. The individual should have a strong understanding of best practices in investment operations in the industry. They will manage performance and risk analysis, operational due diligence, fund data management, and reporting and reconciling investment operations processes. We are looking for someone we can count on to:Own:Performance and risk reportingInvestment operations, such as subscriptions and capital callsDocument and data management for the portfolioCoordination of the annual audit and tax process with NYPL's internal finance teamsRelationships with external vendorsGrow:Data capture and analytics on existing investments Asset allocation review processUnderstanding of operational risks within our portfolio Learn:The office's existing investment portfolio and systemsBroader landscape of investment systems and technologies and consider applications for the teamImprove: Operations and investment infrastructure and processes Some expectations for this role are that within:1 month, this person will:Become familiar with our existing performance, risk, and document management systemsUnderstand our capital call and subscription processesBuild relationships with our external vendors3 months, this person will:Have familiarity with our existing portfolio and strategyMake an initial assessment of the strengths and weaknesses of our current processesParticipate in active investment processes of pipeline managers and evaluate the strengths and weaknesses of their operational infrastructure 6 months and beyond, this person will:Make recommendations for areas of improvement, and implement those recommendationsTake on oversight of our operational due diligence processHave full management and responsibility for all portfolio, risk, and document management systemsResponsibilitiesAssist internal finance team in managing the annual audit processManage performance data and analysis, including preparation of the Board of Trustees Investment Committee materialsManage review, onboarding, implementation, and ongoing maintenance of portfolio management systems, working with the internal purchasing teamIdentify and capture relevant data pertaining to new and established fundsOversee operational due diligence reviews on prospective managers and ongoing operational monitoring of existing managersPrepare subscription documents and investment office contracts for executionManage cash flows for the portfolio - capital calls, subscriptions, in-kind distributionsMaintain a database of contacts of existing and prospective managersManage other related projects as directed by the Chief Investment Officer OverviewThe Investment Office is responsible for the Library's $1.6 billion endowment investment program. Though the Library receives substantial funding from the City of New York as an independent non-profit entity, the spending generated by the endowment contributes crucial ongoing support to the Library's annual operating budget. The endowment portfolio is invested through external managers and is currently allocated across various asset classes and strategies, including domestic and international equities, marketable alternatives, private capital, real assets, and fixed income.Reporting to the Chief Investment Officer, the Director, Investment Operations is responsible for developing a strategic vision for best-in-class operational infrastructure of a global, multi-asset class portfolio. They are a critical part of the institutionalization of the Investment Office, which started five years ago. The individual should have a strong understanding of best practices in investment operations in the industry. They will manage performance and risk analysis, operational due diligence, fund data management, and reporting and reconciling investment operations processes.We are looking for someone we can count on to:Own:* Performance and risk reporting* Investment operations, such as subscriptions and capital calls* Document and data management for the portfolio* Coordination of the annual audit and tax process with NYPL's internal finance teams* Relationships with external vendorsGrow:* Data capture and analytics on existing investments* Asset allocation review process* Understanding of operational risks within our portfolioLearn:* The office's existing investment portfolio and systems* Broader landscape of investment systems and technologies and consider applications for the teamImprove:* Operations and investment infrastructure and processesSome expectations for this role are that within:1 month, this person will:* Become familiar with our existing performance, risk, and document management systems* Understand our capital call and subscription processes* Build relationships with our external vendors3 months, this person will:* Have familiarity with our existing portfolio and strategy* Make an initial assessment of the strengths and weaknesses of our current processes* Participate in active investment processes of pipeline managers and evaluate the strengths and weaknesses of their operational infrastructure6 months and beyond, this person will:* Make recommendations for areas of improvement, and implement those recommendations* Take on oversight of our operational due diligence process* Have full management and responsibility for all portfolio, risk, and document management systemsResponsibilities* Assist internal finance team in managing the annual audit process* Manage performance data and analysis, including preparation of the Board of Trustees Investment Committee materials* Manage review, onboarding, implementation, and ongoing maintenance of portfolio management systems, working with the internal purchasing team* Identify and capture relevant data pertaining to new and established funds* Oversee operational due diligence reviews on prospective managers and ongoing operational monitoring of existing managers* Prepare subscription documents and investment office contracts for execution* Manage cash flows for the portfolio - capital calls, subscriptions, in-kind distributions* Maintain a database of contacts of existing and prospective managers* Manage other related projects as directed by the Chief Investment OfficerRequired Education, Experience & SkillsRequired Education & CertificationsBachelor's DegreeRequired Experience5+ years of work experience in operations in a finance or investment officeRequired Skills* Detail oriented with strong analytical and quantitative capabilities* Strong project management skills; able to manage multiple complex long and short term projects in a dynamic, demanding environment* Basic understanding of investment strategies and financial markets* High degree of comfort with and interest in systems and applications relevant to investment operations, trading, reporting, and risk management* Self motivated and directed, with the ability to work independentlyPreferred QualificationsFamiliarity with Dynamo, Solovis and/or FactsetMore...Other CompensationAn annual bonus will be awarded based on quantitative and qualitative criteria.Core ValuesAll team members are expected and encouraged to embody the NYPL Core Values:* Be Helpful to patrons and colleagues* Be Resourceful in solving problems* Be Curious in all aspects of your work* Be Welcoming and InclusiveWork Environment* Office settingPhysical Duties* N/APre-Placement Physical Required?NoUnion/Non UnionNon-UnionFLSA StatusExemptSchedule* Mon-Fri, 10am-6pm* This is a hybrid role - 3 days on-site; 2 days remoteThis job description represents the types and levels of responsibilities that will be required of the position and shall not be construed as a declaration of all of the specific duties and responsibilities for the role. Job duties may change if Library priorities change. Employees may be directed to perform job-related tasks other than those specifically presented in this description as needed.The New York Public Library Salary StatementAt the Library, we believe that pay transparency and pay equity are important to ensuring we source the best candidates and keep the best employees. When making a determination as to the appropriate salary for a candidate, we consider a variety of factors such, including, but not limited to, the position requirements, the skills, prior experience, and educational background required or preferred for the job, the scope and impact of the role within the organization, internal peer equity, and the candidate's specific training, experience, education level, and skills. No single factor is conclusive; the Library reserves the right to consider any and all relevant factors and make a decision consistent with its policies.Union Salaries are determined by collective bargaining agreement(s).#J-18808-Ljbffr