The Multilateral Endowment Management Company(“MEMCO”) is not-for-profit investment manager located in Edmond, Oklahoma, and is dedicated to providing investment advisory services to other not-for-profit organizations. Details below.
KEY AREAS OF FOCUS
Under the primary supervision of the COO & General Counsel, the Operational Due Diligence Associate will be an integral member of a small investment team. The position will be primarily responsible for leading the operational due diligence efforts of MEMCO, while occasionally assisting with various middle-and back-office functions. MEMCO views operational due diligence as a value-added process that is critical component of investment decisions. Responsibilities include:
Operational Due Diligence of Existing and Prospective Investment Managers – 80%
• Work collaboratively with MEMCO’s COO & GC to employ a multi-stage process of gathering, reviewing, and following up on operational and business processes of investment managers that have been identified by the Investment Team.
• Participate in or lead conference calls and onsite due diligence meetings with investment managers, CFOs, COOs, CCOs, and other operational personnel to qualitatively and quantitatively assess each firm’s operational infrastructure, highlighting any areas of weakness.
• Work collaboratively with MEMCO’s General Counsel to review areas of concern within offering documents and/or to develop side letters.
• Draft comprehensive Operational Due Diligence Reports on managers that are being strongly considered for addition to the portfolio. Present key highlights and risks to the Investment Team at internal meetings.
• Perform ongoing operations reviews of existing managers in the portfolio, including reviewing, analyzing, and tracking financial statements, Form ADVs, valuation policies, marketing materials, due diligence questionnaires, and other documents.
• Continue refining the existing operational risk scoring system.
• Stay abreast of trends and new regulations through the market environment and asset allocation.
Other – 20%
• Engage in discussions and debates regarding the market environment and asset allocation.
• May serve as the liaison with accounting, legal, tax, and internal or external auditors regarding client investments and any other affiliated capital relationships.
• Assist with operational matters between client staff and our investment managers.
• Serve as a backup and additional reviewer of performance reporting data, investment transactions, and reconciliations.
• Prepare and review material for client investment committee meetings, and MEMCO executive committee meetings.
• Research and engage in discussions about the regulatory environment and its impact on both our individual investment managers and our overall asset allocation.
• Assist with providing direction to Investment Associates and Investment Interns regarding the operational due diligence and back-office functions
• Other projects and duties as assigned
Message from Allocator Jobs: To help prepare you for this role, take a look at the Institutional Allocator (IA) program from our partnership organization, the Allocator Training Institute. The IA program curriculum gives you a solid foundation of investing from the allocator’s perspective. You’ll learn how to evaluate investment managers, create an ‘endowment-model’ multi-asset class portfolio, and the quantitative tools necessary to succeed in the role. The three-part program can be completed in less than one year and exams are available every quarter-end month. This is the program that will help you start and then accelerate your allocator career. Reach out if you have any questions.
