Associate Director - Operations Manager

Clear Street•New York, NY

2d•$125,000 - $150,000•Hybrid

About The Position

Clear Street is hiring an Operations Manager for CSIM, a fund of funds. The role owns the administrative and operational running of the business, including capital and cash, NAV and reporting, risk monitoring, and service provider oversight. The position partners with the Investment Committee, the CCO, and Clear Street’s accounting and finance teams. For an outstanding candidate, the role has the potential to become COO. The role also supports the compliance program, investor operational due diligence, and the development of operating policies and procedures. Clear Street requires employees to work in the office four days per week.

Requirements

2–5 years of experience in operations, fund accounting, or finance at a fund of funds, hedge fund, allocator, fund administrator, or audit firm serving asset managers.
Experience overseeing a fund administrator and reviewing NAVs, rather than only receiving them.
Experience with audits, DDQs, and investor ODD.
Working knowledge of partnership accounting, multiple share classes, management fees, incentive allocations, hurdles, and high-water marks.
Familiarity with prime brokerage, margin, separately managed accounts, and derivatives such as total return swaps.
Demonstrates judgment and ownership by identifying potential problems, addressing them, and communicating about them.

Nice To Haves

Financial services or high-growth technology experience.
Experience building processes from scratch; the posting values this over familiarity with any one system.

Responsibilities

Manage investor subscriptions, redemptions, and transfers with the fund administrator, including onboarding and KYC/AML.
Manage fund cash and liquidity planning, including funding underlying investments and sending redemption notices to underlying managers.
Track portfolio lock-ups, notice periods, gates, and liquidity terms and compare them with the fund’s investor terms.
Review monthly NAVs with the administrator, including estimated and final marks from underlying funds and class-level fee and incentive allocation calculations.
Produce investor statements, monthly and quarterly reporting, and internal performance reporting.
Coordinate the annual audit with the auditor and coordinate partnership returns and K-1s with the tax preparer.
Monitor exposure, leverage, and margin in separately managed accounts, including funding levels, collateral in first-loss arrangements, and counterparty exposure on swaps and structured notes.
Report concentration, liquidity, and exposure to the Investment Committee and flag breaches or trends early.
Lead day-to-day relationships with the fund administrator, auditor, legal counsel, and outsourced compliance provider.
Work with Clear Street’s accounting and finance teams on expense allocation, fee calculations, and related reporting within the firm’s information-barrier policies.
Support the compliance program with the CCO, including regulatory filings, the code of ethics, and preparation for SEC registration.
Lead operational due diligence with investors, including DDQs, ODD meetings, and data room upkeep.
Write and maintain operating policies and procedures, and help scope future operations and finance hires.