Title: Investment Operations Manager
State Role Title: Investment Operations Manager
Hiring Range: $130,000 - $155,000 (Salary is commensurate with experience)
Pay Band: UG
Agency: Commonwealth Savers Plan
Location: ARBORETUM NORTH CHESTERFIELD
Recruitment Type: General Public - G
Commonwealth Savers, formerly Virginia529, is an independent state agency that offers savings and investment programs to meet future financial goals, while providing meaningful work to our diverse and collaborative team. Our name change to Commonwealth Savers, reflects our expanded mission to empower individuals on their entire financial journey through education, disability, and retirement savings programs. Commonwealth Savers manages the largest 529 and independent ABLE plans in the nation, helping people save for higher education and disability related expenses, and now manages the state’s private retirement program, RetirePathVA, bringing retirement savings to those who do not have employer-provided options. If you want to make a difference with us, visit our page to learn more about our culture, values, and rewarding career opportunities.
We are hiring an Investment Operations Manager to lead the Investment Operations team. This position is responsible for custodial oversight, data management, investment performance reporting, liquidity management, cash forecasting risk measurement and analysis, and systems development tasks that enable and support investment operations.
In this position, you will:
• Oversee custodian relationship, maintaining policies and procedures for oversight of outsourced accounting and performance management functions. Responsible for all data management that flows from custodian or external managers to portfolio management systems.
• Manage and ensure the accuracy and completeness of all data in the portfolio management system. Own the integration and quality control of data between custodian, investment managers and portfolio management system.
• Oversee and maintain third-party provider relationships including technology vendors. Stay current on new providers in the market, proactively recommend changes that need to be considered, and lead the implementation of any changes to providers, processes, or services.
• Oversee capital calls and return of capital process for investment group. Responsible for maintenance and ongoing development of liquidity management modeling, pacing models and cash forecasting.
• Coordinate with investment consultant in generation of investment committee reporting. Generate internal reporting accurately and efficiently. Update report format or content as requested.
• Work with a third-party consultant to schedule and participate in operational due diligence meetings with both existing and prospective managers as needed.
Successful candidates will have:
• Ten years of relevant work experience and increasing responsibilities in investment management, performance reporting, accounting, and/or treasury operations for an asset allocator (endowments/foundations), custodians, administrators and/or investment management firms; equivalent combination of education and experience may be considered.
• Relevant professional designation, e.g., CIPM, CFA, CPA, FRM, or CAIA.
Work Environment:
• Typical office environment with considerable time in a sitting, stationary position
• Must be able to occasionally move about the office to retrieve files and documents
• Constantly operate a computer and other office equipment including typing and keying
• Frequently communicate with employees, vendors, and applicants; must be able to exchange accurate information accordingly
• Occasional travel required
Benefits:
• Generous healthcare benefits with multiple plans to choose from
• Defined benefit and contribution retirement plans with cash match
• 12+ holidays
• PTO – new employees earn 25 days/full year
• Tuition reimbursement
• Agency-paid continuing education
• 529 match program
• Relaxed work environment
Special Instructions:
You will be provided a confirmation of receipt when your application and/or résumé is submitted successfully. Please refer to “Your Application” in your account to check the status of your application for this position.
It is the practice of Commonwealth Savers to conduct in-depth background checks on all candidates identified as a finalist for employment consideration. The type of background checks performed are dependent upon the type of position for which you have been identified as a finalist and may include: reference checks, criminal history including sexual offender registry checks, and degree validation. The results of background checks are made available to Commonwealth Savers employing officials. You will be requested to sign a reference release form, so your past schools and/or employers may be contacted concerning your academic or employment history.
Contact Information:
Name: Alicia Diggs
Email:
In support of the Commonwealth’s commitment to inclusion, we are encouraging individuals with disabilities to apply through the Commonwealth Alternative Hiring Process. To be considered for this opportunity, applicants will need to provide their AHP Letter (formerly COD) provided by the Department for Aging & Rehabilitative Services (DARS), or the Department for the Blind & Vision Impaired (DBVI). Service-Connected Veterans are encouraged to answer Veteran status questions and submit their disability documentation, if applicable, to DARS/DBVI to get their AHP Letter.