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Type of Role: Investments

Experience Level: VP/Principal/Director

Location: New York City, New York

Salary: $144K - $144K

The ACLU seeks a full-time position of Associate Director, Investments in the Finance Department of the ACLU’s National office in New York, NY. 

Reporting to the Chief Financial Officer, the Associate Director, Investments will collaborate on the investment of the ACLU’s significant investment holdings, including its endowment fund and defined benefit pension plan. This position will also be responsible for planning, organizing and directing cash management programs for the organization. The Associate Director will serve as the primary liaison between the ACLU and all third-party investment advisors and a key member of the Finance Team, integrating activities between the Accounting and Financial Planning and Analysis teams with investments and cash management. 


The following overview of responsibilities is intended to describe the type of work which will be assigned to this position. It is not an exhaustive list of all specific duties required by the employee: 


  • Serves as subject matter expert for investment and treasury management policies and procedures to support strategic and operational decision making; create and deliver trainings on investment or treasury related topics for finance staff, organizational stakeholders and affiliates
  • Serves as the subject matter expert for relevant financial systems, including vendor portals, gaining and maintaining knowledge needed to perform duties using systems’ modules and reporting features
  • Collaborates with intra/interdepartmental team member, providing and exchanging information regarding existing and/or new workflows or projects, and evaluating possible implications for the teams 

Treasury Management 

  • Performs daily liquidity forecast for working capital needs taking into consideration all expected operating inflows and outflows to ensure there are sufficient funds in the Union and Foundation bank accounts to meet immediate funding obligations
  • Based on the daily cash forecast, invest excess cash from operating accounts into short-term investment accounts to maximize interest income
  • In collaboration with the Accounts Payable and Revenue teams maintain a 13-week cash forecast to source liquidity for the Union and the Foundation
  • Updates the accounting team on a weekly basis on the cash position for each entity and coordinates cash withdrawals as necessary
  • Analyzes activity in various donation, lockbox, and Store accounts and recommend appropriate interbank and intra bank transfers for entities
  • Manages the relationship between the ACLU and its banks. Identifies ways to improve these relationships and increase efficiencies in collaboration with the Associate Director of Financial Operations
  • Monitors debt covenant agreements and compliance reporting
  • Serves a security administrator for banking platforms, managing user access and account entitlements 

Investment Management 

  • Responsible for the oversight a diversified investment portfolio that includes cash, public equities, fixed income and alternative investments
  • Prepares monthly investment performance report that outlines drivers of performance across the Union and Foundation portfolios
  • Coordinates investment capital calls and redemptions as needed with investment managers by facilitating proper documentation and ensuring internal procedures are followed
  • Performs an annual review of investment fees across all portfolios (endowment, pension, etc) and instruments (equity, fixed income, money market, etc)
  • Develops an in-house investment manager due diligence program that includes investment and operational parameters; perform annual due diligence of all investment managers
  • Conducts ongoing economic research on investment instruments and opportunities. Makes recommendations to senior leadership regarding these opportunities
  • Owns the research, implementation and continued monitoring of the Systemic Equity portfolio; develops goals and benchmarks related to these investments supported by regular reporting
  • Supervises the management of the ALCU’s endowment and unrestricted investments and ensures that funds are properly allocated and accounted for
  • Maintains the matrix of investment accounts, custodian and banking relationships and updates it on an annual basis
  • Actively manages a laddered bond portfolio for optimal liquidity and return
  • Researches and responds to inquiries received from the affiliates regarding investments; prepares the annual report summarizing investment performance for affiliates
  • Develops investment management and spend policies for the endowment, board-designated and other funds, as needed, in conjunction with the CFO, senior leadership and the Investment Committee. Collaborate with the Accounting and FP&A teams on policy research and preparation
  • Assists the CFO in planning meetings with the ACLU’s Investment Committee, including framing areas of interest and importance to the Investment Committee and ensuring those areas of interest and importance are appropriately researched and addressed
  • Responsible for preparation of all board reporting as it relates to investments and pension
  • Functions as the primary liaison between the ACLU and its third-party investment advisors and consultants
  • Communicates effectively with internal and external stakeholders to ensure full understanding of investments within the portfolio

General Accounting 

  • Reviews, approves and releases payments to organization’s vendors ensuring correct GL accounts and other coding as well as allocation among entities 
  • In collaboration with the Director of FP&A and the Controller coordinates cash sourcing for operating expenses 
  • Performs annual draw calculations and monitors available cash in the investment portfolios for drawdown purposes
  • Participates in the month-end close process by working with the Accounting Team to provide any required data to close the books on investments
  • Participates in the annual audit and works closely with the Accounting Team on drafting of investment related disclosures.
  • Works with the Accounting team to ensure that all investment related activity (gains, losses, fees) are properly recorded on the books 

General Management 

  • Serves as a member of the Finance department’s leadership team. Assists in developing the overall strategy and direction of the department.  
  • Manages onsite and virtual preparations for Investment Committee and Retirement Plan Committee meetings 
  • Works collaboratively to prepare and, in some cases, deliver regular reports to the Investment and Retirement Plan Committees on: 
    • The financial and economic environment 
    • The structure of the ACLU portfolios
    • Investment performance
    • Adherence to policies and guidelines by third party investment advisors
    • New investment strategies and their potential value to the ACLU portfolio
    • Other relevant topics 
  • Completes projects requested by senior management. 

In addition to:

  • Engage in special projects and other duties as assigned
  • Center principles of equity, inclusion, and belonging in all work, embedding the values in program development, policy application, and organizational practices and processes
  • Commitment to the mission of the ACLU
  • Demonstrate a commitment to diversity within the office using a personal approach that values all individuals and respects differences in regards to race, ethnicity, age, gender identity and expression, sexual orientation, religion, disability and socio-economic circumstance
  • Commitment to work collaboratively and respectfully toward resolving obstacles and/or conflicts


  • Demonstrated investment experience including financial, accounting and economic analysis, portfolio management, and endowments
  • Maintain excellent knowledge of GAAP for investment accounting methods, principles, procedures and requirements of accounting systems
  • Must possess the ability to utilize automated systems to manage investment cash flow schemes and programs
  • Must possess the ability to evaluate and assess projected and current money market and economic conditions
  • Must possess the ability to forecast requirements on cash income and outflow
  • Must possess the ability to gather and evaluate data, draw logical conclusions, provide appropriate recommendations and prepare accurate financial records
  • High degree of integrity, tact, diplomacy and discretion 


  • A master’s degree in finance, accounting, or economics
  • Preferred experience working with Retirement plan assets – Defined Benefit and Defined Contribution


The ACLU values equity, transparency, and clarity in pay. Consistent with the ACLU’s compensation philosophy, there is a set salary for this role. The annual salary for this position is $143,943 (Level E), reflective of a position based in New York, NY, where our National offices are headquartered. This salary will be subject to a locality adjustment (according to a specific city and state), if an authorization is granted to work outside of the location listed in this posting.


The ACLU dares to create a more perfect union – beyond one person, party, or side. Our mission is to realize this promise of the United States Constitution for all and expand the reach of its guarantees.

For over 100 years, the ACLU has worked to defend and preserve the individual rights and liberties guaranteed by the Constitution and laws of the United States. Whether it’s ending mass incarceration, achieving full equality for the LGBTQ+ community, establishing new privacy protections for our digital age, or preserving the right to vote or the right to have an abortion, the ACLU takes up the toughest civil liberties cases and issues to defend all people from government abuse and overreach.

Equity, diversity, and inclusion are core values of the ACLU and central to our work to advance liberty, equality, and justice for all. We are a community committed to learning and growth, humility and grace, transparency and accountability. We believe in a collective responsibility to create a culture of belonging for all people within our organization – one that respects and embraces difference; treats everyone equitably; and empowers our colleagues to do the best work possible. We are as committed to anti-oppression and anti-racism internally as we are externally. Because whether we’re in the courts or in the office, we believe ‘We the People’ means all of us.

The ACLU is an equal opportunity employer. We value a diverse workforce and an inclusive culture. The ACLU encourages applications from all qualified individuals without regard to race, color, religion, gender, sexual orientation, gender identity or expression, age, national origin, marital status, citizenship, disability, veteran status and record of arrest or conviction, or any other characteristic protected by applicable law. Black people, Indigenous people, people of color; lesbian, gay, bisexual, transgender, queer, and intersex people; women; people with disabilities, protected veterans, and formerly incarcerated individuals are all strongly encouraged to apply.

The ACLU makes every effort to assure that its recruitment and employment provide all qualified persons, including persons with disabilities, with full opportunities for employment in all positions.

The ACLU is committed to providing reasonable accommodation to individuals with disabilities. If you are a qualified individual with a disability and need assistance applying online, please email If you are selected for an interview, you will receive additional information regarding how to request an accommodation for the interview process.

The Department of Education has determined that employment in this position at the ACLU does not qualify for the Public Service Loan Forgiveness Program.