Managing Director, Investment Operations & Risk Management
Job Description: NOTE: APPLICATIONS WILL NOT BE ACCEPTED VIA THE REDCROSS CAREER PORTAL. ALL APPLICANTS MUST SUBMIT A RESUME AND/OR COVER LETTER TO A THIRD PARTY SEARCH FIRM, KORN FERRY: Gavin Hasselgren Managing Consultant T: 312.593.1344 Gavin.Hasselgren@kornferry.com John Sweeney Recruiter T: 312.526.0554 M: 317.345.4102 John.Sweeney@kornferry.com Company overview: As one of the nation's premier humanitarian organizations, the American Red Cross (ARC) is dedicated to helping people in need throughout the United States and, in association with other Red Cross networks, throughout the world. The Red Cross depends on the many generous contributions of time, blood, and money from the American public to support our lifesaving services and programs. We seek individuals who share our passion for helping people and would like to join us through this unique career opportunity. The American Red Cross is a diverse nonprofit organization offering its employees professional development and growth opportunities, competitive salaries and benefits packages, and a collaborative, supportive, and personally enriching environment. The American Red Cross offers services in five areas: disaster relief; the collection, processing, and distribution of blood and blood products; communications services and comfort for military members and their family members; educational programs on preparedness, health, and safety; and international relief and development programs. Position Statement: As a member of the Operations Team of Red Cross Investments (6 people), you will be responsible for Red Cross Investments' ("RCI") investment operations, all facets of the operational infrastructure, and associated information/data supporting investment decision making, fiduciary and regulatory compliance, and organizational reporting for the assets RCI manages. Currently, RCI manages the retirement, endowment, insurance, and operating assets of the American Red Cross. As the Managing Director ("MD") you will be primarily responsible for managing the trustee/custodial bank relationship and all associated bank services provided to RCI. With the Managing Director - Financial Accounting & Compliance, you will co-lead RCI's operational due diligence on existing and prospective investment managers as well as the comprehensive annual compliance review. Finally, you will be responsible for bringing a risk management philosophy and approach to this key, foundational area for Red Cross Investments. Summary of Duties:Management of Investment Operations, ensuring all investment transactions and asset movements take place on an accurate, timely, and efficient basis; are recorded properly; and are reported accurately and appropriately. Oversee derivatives holdings, including daily collateral transactions. Facilitate capital calls and distributions, including securities liquidations, for Private Equity; manage Hedge Fund transactions, including redemptions. Manage commingled fund investments, including notification requirements and liquidity parameters. Oversee all asset transitions, monitoring funds movements and ensuring accurate performance measurement. Support time-sensitive investment-related communications including fund amendments, regulatory compliance filings, class actions, corporate actions, and redemption notices.Comprehensive Control Environment Establishment & Ongoing Management, including quality control, reconciliation and review throughout. Utilization of appropriate legal documentation, delegations of authority, and fraud management. Development of appropriate documentation when needed. Manage controlled access to information and accounts throughout the network of interfaces and in conjunction with data transmittal.Liquidity Management, including weekly cash forecasting and reporting, Board reporting, tracking sources and uses, and monitoring developing industry liquidity analytic methodologies.Annual Audit, Financial Reporting, and Regulatory Filing Support. Manage the collection of requisite data, documents, and reports. Facilitate review and analysis by RCI where necessary (such as valuation policy reviews).Documentation Development - both internally and externally - to support ongoing operations, business continuity preparedness, and fiduciary compliance.Expense Management, Monitoring & Reporting - including development of an expense policy with appropriate allocation methodologies; bill payment; accurate recordkeeping; and creation of various expense reports for monitoring, budgeting, reporting, and fiduciary compliance.Organizational Investment Activity - support contributions and distributions from the retirement assets; support investment transactions and distributions by endowment fund investors as well as investor recordkeeping and financial reporting requirements.Operational Due Diligence - conduct operational due diligence on the trustee/custodian, current and prospective investment managers, and other applicable, key vendors. Co-lead the comprehensive, annual investment manager and vendor compliance review process.Integrated Risk Management Procedures. Responsible for integration of risk management practices into specific tasks, such as checks and balances, checklists, tolerance thresholds, escalation procedures, customized reporting, an operational/regulatory calendar.People Management- responsible to manage the Senior Analyst - Investment Operations & Risk Management; responsible to manage key, assigned outsourced resources; responsible to provide leadership within RCI in addressing issues and in bringing resources together to problem solve.Best Practice Establishment & Continuous Improvement Implementation - responsible for providing leadership, creating a shared understanding of key processes, and cultivating an environment of continuous improvement, both internally and externally, within RCI, within the broader American Red Cross, and with our key vendors. Qualifications & Experience:10-15 years of relevant work experience: Investment Operations experience in working with institutional investments, preferably of a meaningful size. Experience working with qualified retirement assets (as an ERISA fiduciary); preferably experience working with endowment assets.Broadly-based investment experience in order to bring an integrated perspective to the Operations role, understanding the relationship between accounting and performance reporting and in full support of investment management and investment decision making.Extensive experience working with a major trustee/custodian. This includes understanding best practices used in working with the major banks and the most significant ways in which the leading trustees/custodians support major clients. Extensive knowledge of: derivatives support; securities valuation support; technology support of investment data for analytic and data management applications; Private Equity and Hedge Fund support for investment transactions, reporting, and investment analysis; capabilities in portfolio analytics and reporting; and comprehensive regulatory compliance and reporting support.Experience in designing and managing operations in a streamlined, efficient manner. to facilitate a shared understanding of key processes by members of the team, role substitution and coverage, clear processes of checks and balances, and straightforward documentation. Demonstrated ability to manage others: cultivating teamwork; providing leadership, direction, and guidance; and facilitating training and personal development. Demonstrated leadership capabilities to effectively and timely make and communicate decisions. A willingness to be accountable and to take responsibility and organizational risk as an agent of change and improvement, both internally and externally.A genuine desire and capability to work in a fast-paced, professional, inclusive environment which requires team-work, well-honed problem solving skills, frequent re-prioritization, deadline management, ongoing and comprehensive communication, constant attention to detail, and a commitment to continuous improvement and best practices.Undergraduate degree required; MBA or other advanced degree highly desirable. Apply now! Joining our team will provide you with the opportunity to make a difference every day. The American Red Cross is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected veteran status, age, or any other characteristic protected by law. The American Red Cross is a diverse nonprofit organization offering its employee's professional development and growth opportunities, a competitive salary, comprehensive benefits, and a collaborative team spirit environment. Company Description: As one of the nation's premier humanitarian organizations, the American Red Cross is dedicated to helping people in need throughout the United States and, in association with other Red Cross networks, throughout the world. We depend on the many generous contributions of time, blood, and money from the American public to support our lifesaving services and programs. If you share our passion for helping people, join us in this excellent career opportunity.