Manager of Investment Operations
- Employer
- Colby College
- Location
- Maine, United States
- Salary
- Salary Not Specified
- Date posted
- Apr 2, 2021
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Job Details
Department:
Investment Office
Pay Rate Type:
Salary
Employee Type:
Job Summary:Investment Office (Boston, MA)
Full-Time, Exempt, Salaried, Administrative Staff Appointment
The manager of investment operations will serve as an integral member of the team responsible for the management of the Colby College endowment. This position reports to the chief investment officer, while also supporting and having regular deliverables to other members of the investment team. The successful candidate will be responsible for all operational oversight of the endowment and serve as a primary information source to the Investment Office for all endowment accounts. A critical function of the role is ensuring timely and accurate valuation of, and reporting on, all endowment assets. The manager of investment operations will work across marketable and alternative asset classes in a variety of capacities as described below. This position will be based in the College’s investment office located in Boston, Massachusetts. We encourage inquiries from candidates who will contribute to the diversity of our College, including its cultural and ethnic diversity.
ESSENTIAL FUNCTIONS AND RESPONSIBILITIES :
Investment Operations Management
- Oversee all operational aspects of managing the endowment; maintain Investment Performance system including cash flow activity and investment valuations
- Maintain and update cash flow projections, liquidity analysis, performance reporting and benchmarking models
- Support investment manager monitoring process including performance, exposure, and redemption terms
- Interact regularly with the Office of Financial Services in matters relating to endowment spending draw and various reporting requirements
- Work closely with external auditors and the Office of Financial Services on the annual endowment audit process
- Manage the custodian bank relationship
Account Management
- Maintain a high level of oversight and interaction with numerous external investment managers
- Manage and monitor all limited partnership capital calls and distributions, account redemptions and contributions, and various other cash flow activities; record transactions in Workday
- Oversee new account set-up process, including the execution of fund subscription documents as appropriate
- Work closely with the custodian bank and the Office of Financial Services to reconcile accounts and ensure accurate reporting and valuation
Endowment Reporting
- Regularly update various reports for distribution within the Investment Office as well as periodic Portfolio Investment Committee and other trustee meetings
- Regularly maintain and update performance reports for endowment across asset classes, managers, and benchmarks
- Compile data for external surveys, endowment audit, and annual report
- Manage various compliance oversight and reporting related functions
- Serve as the primary liaison to external data management companies and reporting vendors
Manager Oversight/Operational Diligence
- Coordinate the flow of information from external investment managers to the Investment Office and custodian bank
- Work closely with investment staff on assessing investment manager risk controls and meet with external managers as appropriate
- Represent the College effectively while interacting with investment managers and other large endowments and institutional investors
- Conduct operational due diligence focused on data gathering and research to evaluate the back office functions of managers
- Draft and distribute annual questionnaires to collect operational; compliance; fund term; Diversity, Equity, and Inclusion (DEI); and Environment, Social, and Governance (ESG) information used to monitor ongoing managers
- Develop comprehensive tracking and reporting of data to be shared across Colby
- Assist investment team with reviews of fund legal documents and audited financial statements
- Perform additional duties as assigned; duties, responsibilities, and activities may change at any time with or without notice
QUALIFICATIONS :
- Bachelor’s degree or the equivalent in education and experience; strong academic achievement in accounting, actuarial science, finance, computer science, or related discipline preferred
- Minimum of five years of relevant experience in an endowment, foundation or pension institution, asset management firm, investment company, or bank
- Strong knowledge of investment operations and functions
- Demonstrated experience with investment operations, accounting, valuation, and performance
- High degree of intellect and integrity, as well as a desire to learn and grow as a professional and keep up to date on the latest technology applications and industry practices
- Ability to work well in a small team environment; collegial team player comfortable sharing responsibility, managing multiple assignments, and adjusting priorities to meet challenges as they arise
- Enthusiastic about being part of the College and contributing to its mission
- Collaborative, constructive, and positive approach to work; proactive and curious
- Demonstrated analytical and problem solving skills with excellent judgement
- Professional, organized, and highly detail oriented
- Competent with Excel and other technology applications relevant to investment operations, portfolio management, and reporting
- Strong critical and strategic thinking skills
- Excellent time/project management skills, applied in a fast-paced environment
- Demonstrate the ability to communicate effectively across multiple constituencies
- Ability to work independently and as a member of a team, establish priorities, and work collaboratively as a member of a diverse community
KEY RELATIONSHIPS :
This position has significant interaction with the members of the Investment Office, the Office of Financial Services, external investment managers, members of peer institutions, and other outside constituencies.
WORKING CONDITIONS/PHYSICAL REQUIREMENTS :
Position involves sitting, although frequent movement is necessary. Computer usage involving repetitive hand/wrist motion is also necessary. Some travel may be required.
TO APPLY :
Interested candidates should apply electronically by clicking the "Apply Now" button on the Colby College website. Please submit a letter of interest including salary requirements, resume, and the contact information of three professional references. Materials should be addressed to:
Manager of Investment Operations - Search Committee
Office of Human Resources
Colby College
5500 Mayflower Hill
Waterville, ME 04901-8855
Company
Founded in 1813, Colby College is the 12th oldest liberal arts college in the United States.
Distinctive in its offerings, Colby provides an intimate, undergraduate-focused learning environment with a breadth of programs presenting students and faculty with unparalleled opportunities. A vibrant and fully integrated academic, residential, and cocurricular experience is sustained by a diverse and supportive community. Located in Waterville, Maine, Colby is a global institution with students representing nearly every U.S. state and approximately 70 countries.
Colby’s model provides the scale and impact of larger universities coupled with intensive learning in a community committed to scholarship and discovery, multidisciplinary approaches to integrated learning, study in the liberal arts, and leading-edge programs addressing the world’s most complex challenges. Its network of partnerships with prestigious cultural, research, medical, and business institutions extends educational and scholarly collaborations, providing students with unmatched experiences leading to postgraduate success.
The College’s wide variety of programs and labs provides students and the community access to unique experiences: the Colby College Museum of Art, the finest college art museum in the country, and the Lunder Institute for American Art have made the College a nationally and internationally recognized center for art scholarship; DavisConnects prepares students for lifelong success by combining a forward-thinking liberal arts education with extensive internship, research, and global opportunities for all students regardless of their personal networks and financial circumstances; and the 350,000-square-foot Harold Alfond Athletics and Recreation Center, is the most advanced and comprehensive NCAA D-III facility in the country. In fall 2021, Colby opened the Davis Institute for Artificial Intelligence, the first such institute at a liberal arts college. Colby’s new Island Campus, consisting of Allen and Benner islands, gives Colby a significant presence on the coast of Maine for a wide range of academic programs and activities and undisturbed environments ideal for conducting interdisciplinary experiences.
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