Investment Analyst – Investment Operations

ILLINOIS MUNICIPAL RETIREMENT FUND • Elmhurst, IL

19h • $109,501 - $120,451 • Hybrid

About The Position

The Investment Analyst is an integral member of the Investment team, supporting operations for a global investment portfolio with assets in excess of $65 billion. The role leads the operations of the Investment Department, serving as its subject matter expert on investment operations and exercising sound judgment in resolving operational issues. The analyst works independently and collaboratively to plan, prioritize, and execute responsibilities and uses tools including Excel, Access, PowerPoint, Northern Trust Passport, and Hamilton Lane Cobalt to support the Chief Investment Officer and investment team. The role also handles special projects and interacts with the CIO, Investment staff, consultants, the custodian/master trustee, investment managers, broker-dealers, and other investment professionals.

The position supports investment operations and portfolio accounting; policies, procedures, and internal controls; compliance, audit, and Pension Code administration; and reporting and committee support. Responsibilities include coordinating account and manager onboarding, cash and securities reconciliations, payments, private-market data and valuations, process documentation and improvements, compliance and audit deliverables, Investment Policy review, website updates, committee materials, and investment-related reports.

The role reports to the Managing Investment Officer II – Diversity Programs and Total Portfolio. A bachelor’s degree and at least five years of investment operations experience are required. Accounting, Finance, or Economics degrees are preferred. The expected annual salary range is $109,501–$120,451.10. The position has a 35-hour base work week, Monday through Friday, with the ability to work one remote day per week. Occasional overnight travel is required.

Requirements

• Bachelor’s degree required.
• At least five years of investment operations experience required.
• Ability to work independently with minimal supervision and exercise sound judgment in managing day-to-day Investment Department operations.
• Demonstrated ability to own processes and deliverables from initiation through completion with minimal direction.
• Strong organizational and time-management skills, including the ability to manage priorities and meet deadlines accurately and attentively.
• Strong oral and written communication skills.
• Advanced Microsoft Excel, PowerPoint, Access, and Outlook skills.
• Outstanding analytical and problem-solving skills and ability to think critically.
• Ability to handle confidential and sensitive information with discretion and integrity.
• Ability to establish positive working relationships and demonstrate integrity and respect.
• Strong work ethic.
• Ability to travel overnight occasionally and possess a valid driver’s license.

Nice To Haves

• Accounting, Finance, or Economics degree preferred.
• Experience at a custodian, asset manager, public pension plan, endowment, fund of funds, OCIO, or comparable institutional investor is a plus.
• Proficiency in Northern Trust Passport and Hamilton Lane Cobalt preferred.
• Progress toward or completion of a master’s degree, CFA, or CAIA is a plus.

Responsibilities

• Lead Investment Department operations and serve as the department’s subject matter expert on investment operations.
• Execute account openings, closings, new market setups, and related documentation and instructions.
• Maintain wire instructions in NT Passport, complete related documentation, and execute callback procedures.
• Back up cash flow reconciliation and assist with cash flow projections and liquidity forecasts.
• Research and resolve settlement and cash discrepancies with the custodian and counterparties.
• Lead payments to investment service providers through NT Passport or Doc Link.
• Lead completion and execution of international tax documents and trading licenses.
• Lead monthly and annual security reconciliations and prepare the Securities Reconciliation Report with Finance, the Master Trustee, and Investment Managers.
• Lead reconciliation of private market composite accounts and Hamilton Lane Cobalt data against custodian and investment manager records.
• Support valuation of private market assets.
• Lead onboarding and offboarding of public and private market investment managers and accounts.
• Track investment manager allocations and approved commitments.
• Collaborate with the Public Markets team on investment manager fee payments, worksheets, fee budgets, and collection of underlying fees from IMRF fund-of-funds and manager-of-managers vehicles.
• Back up the legal bid process.
• Create and maintain operational procedures and process documentation for investment operations, systems, and internal controls.
• Identify, recommend, and lead process improvement and automation initiatives.
• Implement operational best practices and lead reviews and updates of the Disaster Recovery Plan and Fraud Matrix.
• Lead the quarterly KPI process for external service providers and serve as an information contact for the Organizational Excellence department.
• Back up the Managing Investment Officer II – Diversity Programs & Total Portfolio and Associate Investment Analysts.
• Lead data gathering for assigned special and inter-departmental projects.
• Lead the quarterly compliance process, including distributing requests, reviewing responses, and preparing the CIO compliance memo.
• Serve as the point of contact for internal and external auditors and respond to information and data requests.
• Coordinate investment deliverables for the annual audit, budget process, and Annual Comprehensive Financial Report.
• Lead the annual investment manager certification process, review documentation, and aggregate data.
• Lead the annual Investment Policy review process, including preparing redlines, summaries of changes, proposed final materials, and submissions to the Department of Insurance.
• Lead monthly, quarterly, and ad hoc reviews and updates of the Investment section of the IMRF website to maintain compliance with the Illinois Pension Code.
• Maintain familiarity with applicable Illinois Pension Code requirements and support compliance with statutes, reporting obligations, and disclosure requirements.
• Coordinate data collection and prepare accurate, timely responses to survey requests.
• Back up responses to FOIA requests.
• Prepare Investment Committee agendas, transmittal memos, minutes, and reports; post and review documents on BoardDocs.
• Attend Investment Committee and Board meetings and assist the team as needed.
• Assist with reports and presentations on investment manager utilization and brokerage activity in compliance with IMRF Investment Policy.
• Assist with preparation of the Annual Report to the Governor.
• Represent the Investment Department at internal meetings as needed and represent IMRF positively as an investment-industry thought leader.
• Mentor and train student interns and junior professionals.
• Foster a positive culture supporting IMRF values and individual accountability, and support the organization’s Journey of Excellence, Vision, and Strategic Objectives.
• Perform other duties as assigned by the CIO; duties may change at management’s discretion.

Benefits

• IMRF pension, death, and disability benefits.
• Medical and dental insurance.
• 35-hour base work week, Monday through Friday, with the ability to work one remote day a week.
• Paid vacation and paid sick leave.
• 12–13 paid holidays and 2 personal days.
• Tuition reimbursement.
• Business casual attire.

What This Job Offers

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