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Type of Role: InvestmentsOperations

Experience Level: VP/Principal/Director

Location: New York City, New York

Salary: $160K - $175K

The Office of Comptroller of New York City, a position established in 1801, is the chief financial officer and chief auditor of the city agencies and their performance and spending. The comptroller also reviews all city contracts, handles the settlement of litigation claims (amounting to $975 million in 2019), issues municipal bonds, and manages the city’s very large pension funds ($240 billion in assets under management as of 2020).

Job Description

The Bureau of Asset Management (BAM) is responsible for oversight of the investment portfolio of the New York City Retirement Systems (Systems). This approximately $228 billion portfolio as of September 30, 2022, is managed primarily by external Investment Managers with additional allocations to private equity, real assets, hedge funds, and opportunistic fixed income investments.

The Director of Investment Operations Support (IOS) will manage all operations groups within IOS. The primary function of IOS is to provide operational functions and oversight/support to ensure that transactions are processed timely and accurately and that Investment Managers, the Custodian, Administrators and other Third-Party investment related service providers are performing their duties appropriately as they relate to services provided for the New York City Retirement System (NYCRS). Reporting to the Chief Operating Officer, the duties and responsibilities of the Director Investment Operations Support include, but are not limited to:

– Oversee the operations functions related to the investment portfolio for the five New York City Retirement Systems and the Variable Funds. This includes the oversight of the approximately 120 Investment Managers for Public Investments and approximately 550 Alternative Investments.

– Oversee the daily capital call and distribution processing for Alternative Investments to ensure that transactions are being processed timely and accurately.

– Oversee the alternative investments oversight process to ensure that transactions are reflected accurately from an accounting perspective in the official books and records. Work with alternative’s administrator and third-party consultants to align records and ensure consistency in reporting.

– Oversee the relationship with the various third-party service providers including the Custodian, Security Lending Agent, Foreign Exchange Provider, Tax Agent, Consultants and Alternatives Administrator.

– Manage the annual Audit process ensuring that information is gathered and provided to the Auditors timely and accurately and all requests are responded to.

– Oversee the payment process for all Investment related third party payments ensuring timely payment of all invoices; oversee the reconciliation of IRR and TVPI between consultants and alternative administrator; oversee the Account Management process for approximately 3000 active accounts.

– Participate in discussions with Investment Staff, Investment Managers, Consultants, and others to ensure that investments are correctly recorded and resolve any issues.

– Make recommendations, plans and implementation for continuous improvement of operational process.

– Perform other related duties and functions as required.

1. A baccalaureate degree from an accredited college, and ten (10) or more years of satisfactory full- time experience in a financial services organization handling either Middle Office functions or Back Office operational support/oversight functions similar to those described in the bulleted list of the job description above; at least eighteen (18) months of this experience must have been in an administrative, managerial, or supervisory capacity, supervising professional staff engaged in performing functions mentioned above; or,

2. Education and/or experience equivalent to “1” above. A graduate degree or a valid New York State Certified Public Accountant (CPA) license can be substituted for two (2) years of professional experience as described in “1” above.

Preferred Skills

– Substantial supervisory experience managing teams of finance/investment/accounting professionals – Superior project management skills and demonstrated ability to multitask across various functional areas is ideal – Experience with transaction processing at an Alternatives Administrator – Familiarity with My State Street and other asset management tools – Strong communications skills including excellent Microsoft Office (Excel, PowerPoint) computer skills at the user level.

Public Service Loan Forgiveness

As a prospective employee of the City of New York, you may be eligible for federal loan forgiveness programs and state repayment assistance programs. For more information, please visit the U.S. Department of Education’s website at