Description
The Senior Associate, Investment Operations runs the day-to-day execution of Concurrent’s investment operations: the advisor service desk, the alternatives subscription and funding lifecycle, trading and custodial support, fee billing review, and the systems that support them. The Senior Associate works under the direction of the Director of Investment Operations, owns assigned workflows from intake to completion, and escalates trading errors, structural questions, and policy matters to the Director. The role begins with a structured onboarding period in which existing procedures are taught, practiced, and documented before work is released to the Senior Associate.
Over time the role takes on the advisor-facing service desk and the department’s documentation and tooling, and builds the custodial and alternatives depth to handle progressively more complex cases. This role requires strong attention to detail, clear writing, and the ability to manage a high volume of requests against service-level timers.
Responsibilities
- Advisor service desk. Work the invest@ and Desk365 queues within SLA timers, own advisor communication through resolution, and keep aging tickets moving. Provide form and paperwork guidance, triage voicemails, interpret custodial NIGO alerts and route them to the right custodian team, and deliver Rebalancer and billing training. Director reviews outbound responses during ramp-up, with independent authority expanding as accuracy is demonstrated.
- Alternatives lifecycle. Execute the operations-owned steps of the iCapital and CAIS subscription lifecycle per the ownership map, from investor profile creation through post-trade administration (capital calls, distributions, valuations, K-1 tracking, redemptions). Track Schwab Alternative Investment requests, coordinate DTCC position files, support the Concurrent Growth Feeder Fund, and complete transfer paperwork and alternatives transition templates.
- Trading and custodial support. Reconcile daily unallocated blocks, support manager trade files, review sub-advisor trade blotters, resolve verify-trade requests, process quarterly share class conversions, and chase NIGO items to cure. Support Black Diamond Rebalancer operations under Director review. Escalate trading errors, settlement breaks, and trade corrections to the Director immediately.
- Fee billing review. Run the OSM fee audit and prebilling exception review on schedule, maintain exception and waiver flags in Black Diamond, add manager fee schedules for new managers, and provide program fee details to Transitions. Escalate fee schedule design, billing disputes, and reconciliation questions to the Director.
- Transition execution. Execute investment-operations tasks within advisor transitions, including account cloning, registration and status tracking (IAR questionnaire, MRC, U4), cost basis election confirmations, custodian document collection, and Box folder setup per the transition SOP. The Director retains coordination and advisor-facing sequencing.
- Prospect, compliance, and contracting support. Prepare for Home Office Visits and demos, build held-away strategy and account inventories from prospects’ existing books, and manage follow-up logistics. Collect documents and track status for discretionary applications, IPO access, and manager and vendor onboarding. Negotiation and policy interpretation remain with the Director.
- Systems and documentation. Serve as primary user and maintainer of the Investment Mapping Library, REC Ledger, Microsoft Forms, SharePoint, Power Automate flows, the exception log, and Practifi TaskRay templates. Draft and maintain SOPs for Director review, and document each procedure as it is taught during onboarding.
- Reporting and continuous improvement. Track and report queue volume, aging, SLA performance, and recurring issue types, and flag likely root causes so issues can be fixed structurally.
- Controls and escalation. Follow documented procedures and firm review requirements for steps that move money or positions, including funding instructions and allocations. Promptly escalate time-sensitive, high-risk, or unfamiliar issues.
- Perform other related duties and responsibilities as reasonably assigned.
Qualifications
- Bachelor’s degree in a related field or equivalent relevant work experience.
- Minimum of four years of experience in financial services operations, custodial or trading operations, or advisory office support.
- Working knowledge of investment concepts, including SMAs, mutual fund share classes, and alternative investments, and of custodial platforms such as Fidelity and Schwab.
- Proficiency with Excel and Microsoft 365. Experience with Forms, SharePoint, or Power Automate preferred.
- Experience with Black Diamond, iCapital, CAIS, Practifi, or Wealthbox preferred.
- Demonstrated attention to detail and accuracy, particularly with financial and client documentation.
- Strong written and verbal communication skills with the ability to interact professionally with advisors, custodians, and internal teams.
- Strong organizational and time-management skills with the ability to manage multiple priorities against service-level timers.
- Ability to learn from documented procedures, follow them consistently, and write them down for others.
Benefits
- 401(k) matching
- Dental Insurance
- Flexible spending account
- Health insurance
- Life insurance
- Paid time off
- Vision insurance