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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 Group HeadAlternative Investments Middle & Back Office Support will manage two groups: Alternative Investments Middle Office and Alternative Investments Oversight and is part of Investment Operation Support (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. Duties and responsibilities of the Group HeadAlternative Investments Middle & Back Office Support include, but are not limited to:
-Manage the Alternative Investments capital call and distribution process, ensuring that all transactions are processed timely and accurately. Review and distribute daily reporting associated with activity;
-Manage the Alternative Investments oversight process to ensure that transactions are reflected accurately in the official books and records. Work with alternative's administrator and third-party consultants to align records and ensure consistency in reporting;
-Manage reconciliation process of market values for Alternative Investments as reported in the official books and records to the general partners' statements;
-Manage the quarterly fee reporting process which includes the tracking of ILPA fee templates and other fee documents as well as the analysis and reporting of fee data;
-Manage the reconciliation of IRR and TVPI between consultants and alternative administrator;
-Participate in discussions with Investment Staff, Investment Managers, Consultants and others to ensure that investments are correctly recorded and reported;
-Manage the operations due diligence process for potential new Alternative Investments and participate in operations due diligence meetings;
-Assist with any automations and conversion efforts to new technology platforms; conduct research to support data analysis and resolve discrepancies;
-Manage two operations teams including training and development of the team; and, perform other related duties and functions as required.
Qualifications
1.A baccalaureate degree from an accredited college, and six (6) 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 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.
Additional Information
The City of New York is an inclusive equal opportunity employer committed to recruiting and retaining a diverse workforce and providing a work environment that is free from discrimination and harassment based upon any legally protected status or protected characteristic, including but not limited to an individual's sex, race, color, ethnicity, national origin, age, religion, disability, sexual orientation, veteran status, gender identity, or pregnancy.
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 Group HeadAlternative Investments Middle & Back Office Support will manage two groups: Alternative Investments Middle Office and Alternative Investments Oversight and is part of Investment Operation Support (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. Duties and responsibilities of the Group HeadAlternative Investments Middle & Back Office Support include, but are not limited to:
-Manage the Alternative Investments capital call and distribution process, ensuring that all transactions are processed timely and accurately. Review and distribute daily reporting associated with activity;
-Manage the Alternative Investments oversight process to ensure that transactions are reflected accurately in the official books and records. Work with alternative's administrator and third-party consultants to align records and ensure consistency in reporting;
-Manage reconciliation process of market values for Alternative Investments as reported in the official books and records to the general partners' statements;
-Manage the quarterly fee reporting process which includes the tracking of ILPA fee templates and other fee documents as well as the analysis and reporting of fee data;
-Manage the reconciliation of IRR and TVPI between consultants and alternative administrator;
-Participate in discussions with Investment Staff, Investment Managers, Consultants and others to ensure that investments are correctly recorded and reported;
-Manage the operations due diligence process for potential new Alternative Investments and participate in operations due diligence meetings;
-Assist with any automations and conversion efforts to new technology platforms; conduct research to support data analysis and resolve discrepancies;
-Manage two operations teams including training and development of the team; and, perform other related duties and functions as required.
Qualifications
1.A baccalaureate degree from an accredited college, and six (6) 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 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.
Additional Information
The City of New York is an inclusive equal opportunity employer committed to recruiting and retaining a diverse workforce and providing a work environment that is free from discrimination and harassment based upon any legally protected status or protected characteristic, including but not limited to an individual's sex, race, color, ethnicity, national origin, age, religion, disability, sexual orientation, veteran status, gender identity, or pregnancy.
