Director of Alternative Investments Middle and Back Office Support

City of New York•New York, NY

1d•$162,000 - $172,500•Onsite

About The Position

The New York City Comptroller’s Office works to promote the financial health, integrity, and effectiveness of New York City government, in order to strengthen trust, secure a thriving future for all New Yorkers, and build a more just, equitable, and resilient city. Led by an independently elected citywide official, the comptroller’s office provides checks and balances needed to hold City government accountable for budgeting wisely, investing responsibly, operating efficiently, acting fairly, living up to its obligations and promises, and paying attention to the long-term challenges we face together. The Bureau of Asset Management is responsible for oversight of the investment portfolios of the five New York City pension systems. Through a culture of collaboration, individual development, and teamwork that leverages diverse talent and strives for continuous improvement, the goal of the Bureau of Asset Management is to achieve exceptional investment outcomes for all stakeholders; to deliver outstanding support to plan Trustees; and to serve as a responsible steward of the resources of plan beneficiaries and the City of New York. The Director of Alternative 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.

Requirements

A baccalaureate degree in finance, economics, accounting, business, or a related field, and five (5) or more years of satisfactory full-time experience in a financial services organization handling Middle Office and Back Office 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;
A graduate degree from an accredited college in the fields mentioned in “1” above and three (3) or more years of progressively responsible full-time professional experience as described 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.

Responsibilities

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 annual reporting to the Systems including fees and market value reporting;
Manage the reconciliation of IRR and TVPI between consultants and alternative administrator;
Oversees the accounting for Alternative Investments and can verify the accuracy in the accounting records and provide guidance to operations team and support external audit
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;
Perform other related duties and functions as required.