nypl~2mo ago

Director of Investment Operations

United States·New YorkFull Timeexecutive

OtherInvestment Operations

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Quick Summary

Overview

OverviewThe 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…

Key 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,…

Technical Tools

OtherInvestment Operations

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