Group Head - Alternative Investments Middle and Back Office Support

The Bureau of Asset Management (BAM) is responsible for oversight of the investment portfolio of the New York City Retirement Systems (Systems).

This approximately $ billion portfolio as of September 30, is managed primarily by external Investment Managers with additional allocations to private equity, real assets, hedge funds, and opportunistic fixed income investments.

The Group Head 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.

Duties and responsibilities of the Group Head Alternative Investments Middle & Back Office Support include, but are not limited to :

• 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 reconciliation of IRR and TVPI between consultants and alternative administrator;
• 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; and, perform other related duties and functions as required.

Minimum Qualifications / Requirements

1. A baccalaureate degree from an accredited college, and six or more years of satisfactory full-time experience in a financial services organization handling either Middle Office functions or Back Office operational support / oversight 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; or,

2. Education and / or experience equivalent to "1" above. A graduate degree or a valid New York State Certified Public Accountant (CPA) license can be substituted for two years of professional experience as described in 1 above.

Preferred Skills

Superior project management skills and demonstrated ability to multitask across various functional areas is ideal -Familiarity with My State Street and other asset management tools -Strong communications skills including excellent Microsoft Office (Excel, PowerPoint) computer skills at the user level.

Public Service Loan Forgiveness

As a prospective employee of the City of New York, you may be eligible for federal loan forgiveness programs and state repayment assistance programs.

For more information, please visit the U.S. Department of Education’s website at class "jobad-residencyRequirement">

Residency RequirementNew York City residency is generally required within 90 days of appointment. However, City Employees in certain titles who have worked for the City for 2 continuous years may also be eligible to reside in Nassau, Suffolk, Putnam, Westchester, Rockland, or Orange County.

To determine if the residency requirement applies to you, please discuss with the agency representative at the time of interview.