Director of Investment Operations

Director of Investment Operations

Department: Investment Office

Employment Type: Full Time

Location: 270 Madison Avenue

Reporting To: Geetanjali Gupta

Compensation: $225,000 - $250,000 / year

Description

Overview

The Investment Office is responsible for the Library's $1.9 billion endowment investment program. Though the Library receives substantial funding from the City of New York as an independent nonprofit entity, the endowment''s spending provides crucial ongoing support for the Library's annual operating budget. The endowment portfolio is invested through external managers and is currently allocated across various asset classes and strategies, including domestic and international equities, marketable alternatives, private capital, real assets, and fixed income.

Reporting to the Chief Investment Officer, the Director of Investment Operations is responsible for developing a strategic vision for the best-in-class operational infrastructure for a global, multi-asset-class portfolio. They are a critical part of the Investment Office''s institutionalization. The individual should have a strong understanding of industry best practices in investment operations. They will manage performance and risk analysis, operational due diligence, fund data management, and the reporting and reconciliation of investment operations processes. This is a senior individual contributor role within a lean, flat investment office.

We are looking for someone we can count on to…

Own:

• Delivering performance and risk reporting across the portfolio
• Executing investment operations, including subscriptions, capital calls, and cash management
• Managing document and data infrastructure for the portfolio
• Coordinating the annual audit and tax process with NYPL's internal finance teams
• Identifying, piloting, and operationalizing AI tools across Investment Office workflows
• Serving as the point-person for the Investment Team across departments, including Finance, Technology, and Procurement
• Managing relationships with external vendors and service providers

Grow:

• Data capture and analytics on existing investments, including through AI-assisted tools and automation
• Asset allocation review process
• Understanding of operational risks within our portfolio

Learn:

• The office's existing investment portfolio, systems, and workflows
• The evolving landscape of AI and technology applications in institutional investment management

Improve:

• Operations, investment infrastructure, and processes
• The office's approach to data quality, system integration, and reporting efficiency

Our expectations for this person are that within…

1 month, this person will:

• Become familiar with our existing performance, risk, and document management systems
• Understand our capital call and subscription processes
• Build relationships with our external vendors and the internal Finance team

3 months, this person will:

• Have familiarity with our existing portfolio and strategy
• Make an initial assessment of the strengths and weaknesses of our current processes and systems
• Participate in operational due diligence on pipeline managers and evaluate the strengths and weaknesses of their operational infrastructure

6 months and beyond, this person will:

• Make recommendations for areas of process improvement - potentially via vendor changes, increased reporting, or areas for efficiency - and implement those recommendations
• Take on full ownership of our operational due diligence process
• Have full management and responsibility for all portfolio, risk, and document management systems

Responsibilities

• Prepare monthly and quarterly performance reports for the CIO and Investment Committee, including portfolio attribution, risk metrics, and benchmark comparisons
• Process capital calls, subscriptions, redemptions, and in-kind distributions, coordinating cash movements with the internal finance team
• Prepare and manage subscription documents, side letters, and investment office contracts through execution
• Oversee operational due diligence on prospective managers and ongoing monitoring of existing managers, tracking material changes to fund structure, personnel, or service providers
• Manage the onboarding, implementation, and ongoing maintenance of portfolio management systems in coordination with internal technology and purchasing teams
• Manage other related projects as directed by the Chief Investment Officer

Required Education, Experience & Skills

Required Education and Certifications

• Bachelor's Degree in Finance, Economics, Accounting, or a related field

Required Experience

• 7+ years of work experience in operations in an institutional investment office, endowment, foundation, OCIO, or fund administrator

Required Skills

• Detail-oriented with strong analytical and quantitative capabilities
• Strong project management skills; able to manage multiple complex long and short-term projects in a dynamic, demanding environment
• Solid understanding of investment strategies, asset classes, and financial markets
• High degree of comfort with and interest in systems and applications relevant to investment operations, trading, reporting, and risk management
• Self-motivated and directed, with the ability to work independently in a lean team environment

Preferred Qualifications

• Experience with or demonstrated interest in applying AI tools to investment operations workflows - including data aggregation, reporting automation, or portfolio analytics - and an ability to evaluate emerging technologies for practical application in an institutional investment context
• Familiarity with Dynamo, Solovis, and/or FactSet

More...

Other Compensation

Bonus: This role includes a competitive annual performance-based bonus, commensurate with experience and both individual and organizational performance.

Core Values

All team members are expected and encouraged to embody the NYPL Core Values:

• Be Helpful to patrons and colleagues
• Be Resourceful in solving problems
• Be Curious in all aspects of your work
• Be Welcoming and Inclusive

Work Environment

• Office setting

Physical Duties

• N/A

Pre-Placement Physical Required?

• No

Union/Non Union

• Non-Union

FLSA Status

• Exempt

Schedule

• Mon-Fri, 10am-6pm
• This is a hybrid role - 3 days on-site; 2 days remote

This job description represents the types and levels of responsibilities that will be required of the position and shall not be construed as a declaration of all of the specific duties and responsibilities for the role. Job duties may change if Library priorities change. Employees may be directed to perform job-related tasks other than those specifically presented in this description as needed.

The New York Public Library Salary Statement

At the Library, we believe that pay transparency and pay equity are important to ensuring we source the best candidates and keep the best employees. When making a determination as to the appropriate salary for a candidate, we consider a variety of factors such, including, but not limited to, the position requirements, the skills, prior experience, and educational background required or preferred for the job, the scope and impact of the role within the organization, internal peer equity, and the candidate''s specific training, experience, education level, and skills. No single factor is conclusive; the Library reserves the right to consider any and all relevant factors and make a decision consistent with its policies.

Union Salaries are determined by collective bargaining agreement(s).