What are the responsibilities and job description for the Associate Director, Fund Reporting & Middle position at Investment Company Institute?
The Investment Company Institute (ICI) is the leading association representing regulated investment funds, including mutual funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts (UITs) in the United States, and UCITS and similar funds offered to investors in Europe, Asia, and other jurisdictions. ICI also represents its members on issues involving the capital markets, separately managed accounts (SMAs) and collective investment trusts (CITs). ICI’s mission is to strengthen the foundation of the asset management industry for the ultimate benefit of the long-term individual investor.
The Associate Director, Fund Reporting & Middle Office Operations, plays a crucial role in supporting directors with accounting, security operations, financial reporting, auditing, and valuation issues for ICI members both in the US and globally. This position involves managing member committees, tracking and responding to regulatory proposals, and supporting members' middle- and back-office operations, including investment processes, clearance and settlement, custody, and fund administration. Additionally, the Associate Director supports global operations and reporting obligations and co-manages the annual Director Practices Study with the Independent Directors Council.
Essential functions of this role include:
Assists the directors with coordinating current and future ICI committees addressing fund accounting, accounting policy, and regulatory reporting, securities operation, global operations, and security valuation. These responsibilities include:
- Convene members on fund administration (e.g. accounting, reporting, security valuation) and investment operations topics (e.g., fund portfolio securities, collateral movement, securities lending, custody, settlement, and liquidity management), to identify and address industry issues, develop common practices and standards, where applicable, and inform ICI policy and advocacy priorities.
- Serve on the Industry Operations team supporting members with global (non-US) operations, through advocacy, policy development, member convening, and standards-sharing, as appropriate.
- Monitor regulatory bodies (e.g., FASB, IASB, ISSB, PCAOB, CFTC and SEC) for proposals affecting the investment company industry related to matters overseen by the directors, assist with building industry consensus on proposals, and responding as appropriate.
- Co-administer the annual ICI/IDC Directors Practices Study with the Independent Directors Council.
- Contribute toward planning, organizing, and delivering the annual Tax & Accounting and Innovate Conferences.
- Support member operations with Exchange-Traded Funds (ETFs), including primary and secondary market, authorized participant, and potential ETF share class considerations.
If you have the following credentials, we encourage you to apply:
- Bachelor’s degree.
- At least seven years’ related work experience.
- Knowledge of regulations and processes and procedures related to middle office portfolio securities and global pooled investment operations and understanding of industry service providers and associations related to securities clearance and settlement.
- Experience in preparing, auditing, or reviewing financial statements of SEC registered investment companies obtained through employment with an investment advisory firm, public accounting firm or the SEC a plus.
- Certified Public Accountant a definite plus.
ICI offers a competitive compensation and benefits package to include a comprehensive medical plan, generous 401(k) retirement savings plan, paid leave, commuting subsidies, and tuition reimbursement as well as training and development opportunities. Based in Washington, DC, ICI is conveniently located next to McPherson Square Metro station. This is a hybrid position with three days in the office and two working from home.
To be considered for the position, please provide your cover letter and resume.
ICI is an Equal Opportunity Employer that values diversity and inclusion in the workplace.
