Director or AVP, Investment Operations (Reconciliations)

Nassau Financial Group • Hartford, CT

5d • $125,000 - $175,000

About The Position

The Director/AVP of Reconciliation Operations will build and lead a new investment operations team responsible for private credit processing, cash and holdings reconciliations, suspense resolution, wire activity, and internal cash or asset transfers. The role will establish the team’s operating model, workflows, controls, service standards, and performance expectations while remaining actively involved in day-to-day operations.

The position oversees reconciliation of internal investment records to custody bank records; control frameworks for non-custodied assets; investigation and resolution of suspense items and operational exceptions; investment-related payments and wires; and internal asset and cash transfers. The Director/AVP partners with Treasury, Investment Accounting, investment teams, custodians, banks, agents, and administrators to ensure activity is handled accurately, efficiently, and in accordance with established controls. The role also supports audits and governance activities and identifies opportunities to automate and improve operational workflows.

Requirements

• Bachelor’s degree in Finance, Accounting, Business, or a related field.
• Progressive experience in investment operations, middle-office operations, private credit or loan operations, treasury operations, or investment accounting.
• Demonstrated experience leading a team and building new operational processes, solutions, or capabilities.
• Strong knowledge of investment cash processing, cash and position reconciliations, custody operations, wire controls, and exception management.
• Understanding of private credit activity and cash flows, including fundings, PIK, principal and interest payments, fees, paydowns, and corporate actions.
• Experience partnering with custodians, banks, Treasury, Accounting, and investment professionals.
• Excellent analytical, problem-solving, organizational, and communication skills.
• Ability to manage competing priorities, resolve complex exceptions, and operate effectively in a developing environment.
• Strong proficiency with Excel and experience with investment accounting, portfolio management, reconciliation, workflow, or treasury systems.

Nice To Haves

• Experience with private credit, private debt, bank loans, or other less-liquid investments is strongly preferred.

Responsibilities

• Build and lead a new team responsible for private credit processing, cash and holdings reconciliations, suspense resolution, wire activity, and internal transfers.
• Define team responsibilities, end-to-end workflows, escalation protocols, service standards, and performance expectations.
• Develop team members and foster accountability, collaboration, client service, and continuous improvement.
• Design and document scalable processes and controls to monitor transaction volumes, aging, exceptions, processing timeliness, and operational risk.
• Identify opportunities to automate manual processes and improve workflow accuracy, efficiency, and transparency.
• Oversee processing and validation of non-scheduled cash activity and activity related to non-custodied assets, including fundings, principal and interest payments, paydowns, fees, PIK activity, and other investment-related cash flows.
• Coordinate investment-related payments and internal wire requests, ensuring requests are supported, authorized, processed, and documented.
• Manage internal asset and cash transfers between investment portfolios and ensure activity is accurately reflected across internal and external records.
• Ensure private credit position and transaction activity is processed completely, accurately, and within established timeframes.
• Oversee cash and holdings reconciliations between internal investment records and custody banks.
• Ensure reconciliation breaks are researched, documented, escalated, and resolved within established timeframes.
• Lead investigation and clearance of suspense items, unidentified cash, rejected transactions, and other operational exceptions.
• Partner with custodians, banks, agents, administrators, and internal teams to determine root causes and resolve discrepancies.
• Establish controls and reporting for aged, material, or recurring exceptions.
• Perform root-cause analysis and implement preventive controls and corrective actions.
• Serve as the primary reconciliation liaison among Treasury, Investment Accounting, investment teams, custodians, and banking partners.
• Coordinate with Investment Accounting to ensure transactions, positions, and cash activity are recorded completely and accurately.
• Maintain clear documentation and audit trails for payments, reconciliations, transfers, exceptions, and approvals.
• Ensure processes comply with internal policies, segregation-of-duties requirements, and applicable control standards.
• Support internal and external audits, control reviews, and other governance activities.
• Escalate material cash, position, custody, or processing issues promptly and drive them through resolution.
• Perform other duties as assigned.

Benefits

• Medical insurance benefits for employees’ spouses and dependent children; coverage begins on the date of hire (retroactively).
• Dental insurance benefits for employees’ spouses and dependent children; coverage begins on the date of hire (retroactively).
• Vision insurance benefits for employees’ spouses and dependent children; coverage begins on the date of hire (retroactively).
• Dependent life insurance benefits for employees’ spouses and dependent children; coverage begins on the date of hire (retroactively).
• Performance-driven incentives.
• Professional development opportunities.

What This Job Offers

• Job Type: Full-time
• Career Level: Director