Manager, Middle Office

American Red Cross
Washington, DC
Apr 20, 2017
Apr 21, 2017
Full Time
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 John Sweeney Recruiter T: 312.526.0554 M: 317.345.4102 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 (6 people), you will be responsible for fulfilling a range of supporting functions on behalf of Red Cross Investments ("RCI"), with a primary emphasis on performance measurement, investment analytics, risk analytics, and data management for the Retirement System and Endowment Fund assets. Additionally, as the Manager - Middle Office you will be primarily responsible for Committee and internal RCI reporting. Finally, you will be available to support special projects of a broad range in addition to regular, scheduled responsibilities. Summary of Key Responsibilities:Performance Measurement Calculations. Responsible for overseeing and managing all performance measurement calculations and associated reports. This includes performance based on current accounting data and estimated hedge fund values and "unlagged" performance calculations based on actual, final returns. Responsible for ensuring the methodologies are sound, calculated independent of RCI, and accurate. Fully responsible for establishing final, complete, accurate "gold standard" return data. Responsible for ensuring performance for derivative-based strategies are well-constructed and accurate in RCI's daily performance reporting framework. Performance Reporting. Responsible for all performance reports, formatting and presentation.Performance Benchmarks. Responsible for working with the Investment Team on the appropriate benchmarks, market-based or custom, and assuring their inclusion in the various reports. Responsible for ensuring the benchmarks are appropriate for the investment strategies, asset classes, and Funds. Responsible to understand the current universe of benchmarks and current, best practice thinking regarding benchmark use.Performance Benchmark Access. Responsible for managing benchmark access through the trustee/custodian and RCI's custom data warehouse and how the benchmarks provided are charged. Responsible for understanding all benchmark associated contracts, agreements, and fee schedules.Investor Universes. Responsible for understanding current, applicable investment strategy universes, such as the HFRI universes, as an alternative to market-based benchmarks. Performance Measurement Documentation & Historical Record. Responsible for complete data management and performance recordkeeping, including methodology documentation. Universe Rankings & Associated Reporting. Responsible for universe participation and periodic reporting. Responsible to follow universe providers (such as Cambridge, MSCI, Wilshire, CEM, and CIEBA), universe composition, and key differences, to support benchmarking goals and objectives.Surveys. Responsible for completing survey data as part of RCI's industry participation. This could include investment strategy portfolio profiles, investment managers, performance, and expenses.Data Management. In regard to RCI's custom document management and data warehouse tool, the Manager is responsible for storing all performance and benchmark data and its accuracy.Manager & Vendor Compliance. Working with the Managing Director ("MD") - Financial Accounting, responsible for identifying the documentation/information to be collected and for ensuring the collection and maintenance of all such manager and vendor compliance materials. Risk Analytics Tool. Primarily responsible for managing the risk analytics relationships and the ongoing data transmittals. Responsible for utilizing the risk analytics tool(s) and interpreting the output. Responsible for supporting the Investment Team regarding their utilization of the tools and their ongoing reporting requirements, including stress testing and scenario analysis.Reporting. Primarily responsible for monthly and quarterly Investment Committee reports. Primarily responsible for internal reports such as performance, risk and exposures, Investment & Customer Report (weekly), and the Endowment Fund spending update (monthly).Liquidity Management. Work with MD-Investment Operations on liquidity management reporting and analysis. Incorporate liquidity analytics as available.Special Projects. Work with the Investment Operations Team and Investment Team on a range of initiatives and special projects, such as the annual Operational Due Diligence, Risk Management initiatives, the Custody Review Project, and the Expense Reporting Project. Qualifications & Experience:5-10 years of relevant work experience. Preferably experience in the institutional investment industry, working with qualified retirement assets (as an ERISA fiduciary).Demonstrated experience in performance measurement and analysis. Experience in basic attribution analysis, such as return due to allocation, return due to selection, and interaction.Experience in the selection, use, and reporting of market indices and benchmarks. Experience in evaluating differences in market index construction and trade-offs relative to their use.Experience in investment risk analytics, such as Barra, Risk Metrics, Axioma, or BlackRock Solutions. Experience with online tools for risk data analysis, interpretation, and reporting.Experience with stress testing and scenario analysis; experience with VAR and Conditional VAR.Experience with derivatives-oriented reporting and overlays; experience with notional reporting.Experience with LDI reporting for hedging assets and liabilities, including attribution analysis.Experience in evaluating a range of investment managers and investment management organizations.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.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.Experience in preparing investment-related reports using Excel, PowerPoint, and other graphics capabilities.Experience with various forms of file transmittal (secured communications) in support data analytics and reporting.Undergraduate and graduate degree, preferably an MBA or a master's in financial engineering.Certified Financial Analyst (CFA) certification, 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.