What are the responsibilities and job description for the Deputy Director, Investment Operations position at Building Service 32BJ Benefit Funds?
Job Description
Job Description
Job Title : Deputy Director, Investment Operations
Department : Executive Office
Reports To : Director of Investments
FLSA Status : Exempt
About Us :
Building Services 32BJ Benefit Funds (“the Funds”) is the umbrella organization responsible for administering Health, Pension, Retirement Savings, Training, and Legal Services benefits to over 100,000 SEIU 32BJ members. Our mission is to make significant contributions to the lives of our members by providing high quality benefits and services. Through our commitment, we embody five core values : F lexibility, I nitiative, R espect, S ustainability, and T eamwork ( FIRST). By following our core values, employees are open to different and new ways of doing things, take active steps to improve the organization, create an environment of trust and respect, approach their work with the intent of a positive outcome, and work collaboratively with colleagues.
The Funds oversees and manages $9 billion dollars in assets, which are made up of many, varied and complex funds. The dollars come from a number of sources, including the property owners who pay into the funds on behalf of their employees, and as such, requires those who oversee and manage the money to be highly skilled financial management people.
For 2023 and beyond, 32BJ Benefit Funds will continue to drive innovation, equity, and technology insights to further help the lives of our hard-working members and their families. We use cutting edge technology such as : M365, Dynamics 365 CRM, Dynamics 365 F&O, Azure, AWS, SQL, Snowflake, QlikView, and more.
Please take a moment to watch our video to learn more about our culture and contributions to our members : youtu.be / hYNdMGLn19A
Summary :
Reporting to the Director of Investments and in collaboration with the Funds’ investment advisers, the Deputy Director, Investment Operations is primarily responsible for overseeing and managing the investment operations. This role helps to ensure the integrity and efficiency of investment operations, accounting, and transaction activities. The Deputy Director, Investment Operations will manage relationships with service providers and drive continuous improvement across operational, compliance, and risk management processes. In addition, alongside the rest of the Investment Team, the Deputy Director, Investment Operations will monitor existing investments, evaluate recommendations related to the Fund's investment program, and assist in the day-to-day implementation of the Fund’s policies and investment programs.
Principal Duties and Responsibilities :
- Partner with Director of Investments and liaise with the funds service providers, including the fund’s investment advisers, custodial bank(s), and fund counsel in implementing the trustee’s investment decisions.
- Serve as the primary point of contact for with the Funds’ custodian bank, ensuring accurate, timely reporting.
- Alongside the Director of Investments, Senior Investment Analysts, the Funds’ investment consultants, monitor existing investment relationships by conducting regular due diligence meetings, reviewing performance reports, attending meetings and calls with investment managers.
- Oversee investment analysts on projects related to investment operations
- Oversee transaction management, reconciliation process, and operational controls to ensure all investment transactions are processed, settled, and recorded accurately
- Coordinate and support annual audits and regulatory reviews, working closely with the internal accounting team and external auditors to provide required documentation and resolve findings
- Assist in the preparation of materials for Board of Trustees meetings, including detailed reports on investment activities, performance, and compliance
- Collaborate with Director of Investments, the Executive Director, and other senior leaders to develop and implement strategies that enhance the fund’s operational effectiveness.
- In collaboration with Director of Investments, manage and monitor cash flow projections, ensuring adequate liquidity to meet pension obligations and operating needs
- Assist in the management of various fund documents and databases, including fund policy documents, manager and performance databases, and investment book of record platform (IBOR).
- Assist in the preparation of cash flow projections and investment analytics for cash flow requirements and rebalancing decisions.
- Ensure compliance with all relevant laws, regulations, and internal policies, implementing best practices for operational and regulatory compliance.
- Develop and maintain policies and procedures for investment operations, continuously renewing and refining processes for efficiency and risk management
- Serve as a key resource for cross-functional projects and initiatives, including accounting and IT, to enhance overall operational performance.
- Perform any other relevant work duties assigned by management and senior leadership.
- Additional special projects on an ad hoc basis.
Qualifications :
