The Pennsylvania State University seeks a proven leader and strong team player to report directly to the Managing Director of Operations and participate in managing the Office of Investment (OIM) operations functions for a $4.5 billion Long Term Investment Pool, as well as other university investment assets.
This role requires the ability to analyze and synthesize data, exercise independent judgment, build relationships, and create high quality deliverables. The Director, Investment Operations will:
- Assist in the management of all operational responsibilities and help develop best practices related to all operational functions of OIM.
- Assist in the management of the day-to-day interactions with the custodian bank as it relates to the investment account structure, ongoing flows between accounts, and measurement of performance.
- Coordinate the preparation of standard and ad hoc financial reports and investment materials.
- Work closely with all OIM team members as well as colleagues across the broader University organization, including key relationships in Office of Corporate Controller, Risk Management, Ethics and Compliance, Legal, and Development to foster inter-departmental collaboration.
- Develop and foster collaborative relationships with the operations and back office teams of current and prospective investment managers.
- Assist in the continued refinement of investment policies, procedures, and the knowledge management process.
- Support on-boarding of new external investment managers to ensure they are accurately included in all internal systems while also supporting the valuation of investment portfolios and the audit process.
- Assist in fostering a spirit of teamwork and unity among team members that allows for disagreement over ideas, conflict and expeditious conflict resolution, and the appreciation of diversity as well as cohesiveness, support, and working effectively together to enable each employee and the team to succeed.
- Act as a mentor for staff, whether or not charged with direct supervisory responsibilities, to ensure professional development as well as execution of best-in-class investment operational procedures.
- Perform some operational due diligence reviews with investment managers which involves visiting external managers in their offices and conducting face-to-face discussions intended to uncover potential risks within their investment support functions that could lead to investment and/or reputational risk.
- Work with team members to partner with Penn State’s Information Technology and Risk Management groups to help ensure the Business Continuity and Disaster Recovery Plans and interact with legal counsel to review and complete investment contracts.
- Actively participate and lead meetings and project teams, both within and outside OIM. Comfortably collaborate with other units, teams, and external partners with a high level of meeting management and communication skills.
- Demonstrate diplomacy and a high level of both verbal and written communication skills.
- Demonstrate awareness of broad issues and management trends while evaluating the impact of policy and procedure changes and adjust accordingly. Ability to connect the operations and mission of OIM to the overall University mission and be able to communicate that connection to others within and outside of OIM.
- Actively participate in the annual audit process for both custodial banks and external audit organizations. Understand the audit process and procedure, and the ability to educate others as needed
- Understand all OIM roles and responsibilities and how they interact. Proactively identify opportunities to collaborate and connect with other units and groups, such as University or Division Strategic Planning Committees.
Applicants for this position should demonstrate success in thinking both strategically and analytically, implementing change, and functioning effectively as a team member.
The ideal candidate will be curious, well organized, self-motivated, and have a meticulous attention to detail, be able to partner with other subject matter experts and business leaders, exhibit confidence and ability to communicate with all levels of management, and have proven experience in coaching and mentoring team members to understand and execute best-in-class investment operational procedures.
An ideal candidate will have a track record of producing high quality deliverables in a dynamic environment on tight deadlines. Experience leading the reporting, operations or compliance function at a $2+ billion plus Endowment, Foundation, Pension or Family Office is highly preferred.
EDUCATION AND EXPERIENCE REQUIREMENTS:
Typically requires a bachelor’s degree and ten (10) years of experience in an investment or finance function. A master’s degree in accounting or business is preferred. CFA, CPA, CAIA, or CIPM certificates/licenses is desirable.
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