Phillips Academy is a residential secondary school in Massachusetts, founded in 1778 to educate “youth
from every quarter.” The school’s $1.4 billion multi-asset class endowment provides significant operating
support to the Academy, much of which supports the school’s policy of need-blind admissions. The
Investment Office, which manages the Academy’s endowment, seeks an Investment Operations
Associate, to join its six-person team based in NYC.

The Investment Operations Associate should have some prior experience in investment operations for an
asset manager or asset allocator (or in financial services, or accounting), strong Excel skills, a demonstrated
track record of academic and professional success, intellectual curiosity, and a collaborative approach.

Day-to-day responsibilities are focused on collecting and processing data streams from the Academy’s
investment managers, reconciling daily and quarterly cash balances, and reporting on the overall portfolio.
A key member of the small Endowment office, the Investment Operations Associate will assist the Chief
Investment Officer, and other team members with all operational aspects of managing an endowment
portfolio and will also regularly interface with members of the Comptroller’s office, which is based on
campus in Andover MA, and the external custodian.

Key responsibilities include:
Reporting
o Generating and ensuring accuracy of timely (weekly, monthly, quarterly, annual) performance reports
for the endowment, underlying strategy portfolios, and individual managers in portfolio database
o Working with Chief Investment Officer and members of the investment team to generate ad hoc proforma
portfolio reports, taking into account rebalancing, new subscriptions, and redemptions

Data management
o Assisting the Investment Office in organizing and processing manager data including, inputting cash
flows, valuations from capital account statements, and performance data for new and prospective
investments into a licensed database application
o Overseeing and ensuring accurate and timely input by third party of underlying manager portfolio
exposures
o Recording and tracking cash and stock distributions
o Tracking liquidity terms for underlying investments and monitoring the endowment’s overall
liquidity
o Building analytical capabilities by centralizing key data collection for new and ongoing investments,
such as liquidity terms, holdings and performance details, and communications from fund managers
o Integrating and testing operational systems to automate investment data collection and maintain an
updated repository of standardized reports
o Collaborating with existing software and data providers to better utilize existing offerings and ensure
the accuracy of data that resides on those platforms

Reconciliations
o Leading the process of reconciliations with custodian and serving as the primary contact for related
inquiries between the Investment Office, on-campus finance team, and third-party vendors
o Reconciling daily cash balances with capital calls, distributions, stock sales, gifts, and other flows

External Interactions
o Engaging and communicating with investment managers and institutional service providers as part of
day-to-day operations of the Investment Office, including managing consent response deadlines.
o Assisting Comptroller’s office with operational processes, as needed, such as wires, journals, capital
calls, and opening new accounts
o Responding to auditor requests and providing support during the annual audit, with surveys and
various ad-hoc requests

Qualifications
Background
o Minimum of 5 years’ work experience, preferably in accounting or investment operations.
o Strong Academic credentials, Bachelor’s degree, preferably in finance, accounting, or a relevant
subject area. CPA preferred.

Work Skills
o Strong understanding of time-weighted returns, IRR, and financial products.
o Strong proficiency with Microsoft Office Suite. Coding experience is appreciated but not required.
Experience with Caissa, Private I, Northern Trust Custodian systems helpful.
o Detail oriented with strong problem-solving capabilities and a commitment to data accuracy.
o Able to learn new systems and workflows quickly.
o Demonstrated general interest in investments and asset management.

Personal Qualities
o Dependability and a demonstrated sense of personal ownership of responsibilities.
o Ability to work independently and autonomously, set goals, prioritize tasks, and manage
simultaneous projects.
o High level of professional maturity, integrity, and judgement. Track record of collaboration, working
on a small team. Demonstrated clear, responsive, and proactive communication skills.
o Strong work ethic, organizational skills, and attention to detail.
o Highly motivated with a willingness to learn and contribute to the team.
o Intellectual curiosity, flexibility, and a data-driven approach to analysis.
o Ability to work in a professional and confidential environment.

If interested, please complete an application, and include a resume here:
https://andover.csod.com/ats/careersite/JobDetails.aspx?site=1&id=724

As the COVID-19 pandemic persists, our top priority is safety. Accordingly, the Academy will require,
subject to disability and religious accommodation exceptions under federal and state law, that all
employees be fully vaccinated against influenza and COVID-19.

Phillips Academy is an equal opportunity employer. Phillips Academy is an intentionally diverse and
inclusive residential community “committed to creating an equitable and inclusive school in which
students from diverse backgrounds, cultures, and experiences—including race, ethnicity, nationality,
gender, socioeconomic class, sexual orientation, gender identity, religion, and ability—learn and grow
together.” The ideal candidate supports the inclusive and diverse nature of the community. Any offers of
employment will be contingent upon successful CORI/SORI and fingerprinting background checks as
well as unrestricted authorization to work in the United States.