Managing Director, Financial Accounting & Regulatory Compliance
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 the financial reporting and audit functions on behalf of Red Cross Investments ("RCI") and the assets it manages. Currently, RCI manages the retirement, endowment, insurance, and operating assets of the American Red Cross. As the Managing Director ("MD") you will be responsible for managing the process of closing the books, assuring the accuracy of the data; and assuring that the financial data which is disclosed and reported is current with respect to all applicable regulatory compliance (financial, ERISA, and otherwise). You will be responsible for assuring that RCI policies, key RCI processes and operations, and the data captured and retained will support compliance with the applicable global regulations and the assets managed. Working closely with the Senior Director, you will help develop policies applicable to RCI and its investment and administrative activities. You will be expected to be knowledgeable about current and evolving risk management best practices in the investment management industry and you will be the key architect to incorporate RM practices into RCI policies and operations. You will also manage the performance measurement, investment risk analytics, and reporting for the entire RCI organization in conjunction with a day-to-day resource, the Manager - Middle Office. Finally, with the MD - Investment Operations, you will co-lead RCI's operational due diligence on existing and prospective investment managers as well as the comprehensive annual compliance review. Summary of Key Responsibilities:Regulatory Compliance in Financial Reporting. On behalf of American Red Cross ("ARC") and RCI, primarily responsible for compliance with regulatory requirements in the applicable financial reporting areas as they apply to institutional investments, including compliance with ASC 820, ASC 815, Topic 210 (ASU 2013-01), and Form 5500. Responsible for the development of Fair Value and Leveling policies; responsible for developing guidelines and procedures to support policy compliance.Financial Reporting - Responsible for producing financials and footnotes for the Consolidated and Retirement System reporting. Responsible for managing all of the financial reporting and Form 5500 reporting from the trustee/custodian for the Endowment Fund and Retirement System assets in order to comply with ARC reporting requirements. Responsible to ensure the accuracy, completeness, and timeliness of the bank reporting, including full compliance with all regulatory requirements.Audit Support. Responsible for managing the investment management components of the Corporate and Retirement System audits. Responsible to gather and track data and facilitate applicable analysis and review within RCI to support the wide range of audit testing and associated analysis.Regulatory Compliance. Primarily responsible for identifying, evaluating, interpreting, and implementing solutions to comply with global regulations impacting RCI. Applicable global regulatory bodies include: FASB, ERISA, SEC, CFTC, ESMA, IRS (FBAR and FATCA), and UPMIFA. Responsible to support a comprehensive, best practices compliance framework in a fast-paced and evolving area.Policy Development, Implementation, and Compliance Monitoring. - Working with the Sr. Director, responsible for supporting policy development, policy implementation, and ongoing monitoring. Key policies and guidelines include Investment Policy Statement, Derivatives Policy, Spending Policy, Proxy Voting, Personal Trading, Gifts & Entertainment, Time/Travel Charging, and Expense Management. Operational Policy Development, Management & Monitoring. With the MD - Investment Ops, develop policies, guidelines, tracking, and reporting to manage key areas, including: derivatives and notional exposures, hedging, leverage, counterparty and credit exposures, liquidity, organizational exposures, proxy voting, manager guideline compliance, and vendor operational compliance.Risk Management. Responsible for developing and infusing an integrated, best practices risk management perspective into all governance, investments, and operational work within RCI. Middle Office Management. Responsible for managing the Middle Office function, responsible for Performance Measurement, Risk Analytics, Comparative Analysis, Reporting, and Data Management.Operational Due Diligence. Working closely with the MD - Investment Ops & RM, conduct operational due diligence on the trustee/custodian and current and prospective investment managers and vendors. Co-lead the comprehensive, annual investment manager and vendor compliance review. Qualifications & Experience:10-15 years of relevant work experience: Financial accounting and reporting and audit experience 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. Preferably experience working with one of the Big Four audit firms.Experience working with major trustee/custodians. Knowledge of their reporting and reporting processes; securities valuation support; technology support of investment data for analytic and data management applications; capabilities in portfolio analytics and reporting; and comprehensive regulatory compliance and reporting support.Experience conducting fair value reviews, including due diligence of bank pricing and pricing vendors.Broadly-based investment experience in order to bring an integrated perspective to the role, understanding the relationship between accounting and performance reporting and in full support of investment management and investment decision making.Financial analysis experience in addition to financial accounting experience. Preferably experience in performance measurement, risk analytics, and stress testing. Experience developing reports for various forms of financial analysis is desirable.Experience in designing and managing day-to-day 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 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 internally and externally.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 and graduate degree, such as an MBA or Masters in Financial Analysis or Accounting.CPA and CFA 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.