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The Howard Hughes Medical Institute (HHMI) advances the discovery and sharing of scientific knowledge to benefit us all. As a biomedical research organization and philanthropy, HHMI supports a vibrant community of academic researchers, educators, students, and professionals. Our Headquarters is in the greater Washington, DC metro area and is home to over 300 employees. HHMI's Investment team manages an endowment with net assets of approximately $26 billion, and invests globally through long-term partnerships with world-class external investment managers. HHMI's endowment comprises a diverse portfolio, including investments in public equity funds, growth equity and buyout funds, venture capital funds, hedge funds, real assets and direct co-investments.
Summary:
HHMI is seeking a Senior Investment Operations Analyst for its Fund Services team, joining the group of investment professionals that invest and manage HHMI's $26 billion endowment fund. The person in this role drives the investment fund's operational services and ensures the integrity of the transactional and financial data. This role will focus on implementing core business functions for the endowment fund related to the following general areas of responsibility: Account Management; Transaction Support and Cash Management; Accounting and Valuation; Performance and Analytics; and Management Reporting. The person may also participate in legal, audit, tax, risk, and due diligence activities and will assist in the documentation of existing business processes and the development, documentation, and implementation of new/enhanced best in class business processes and technology.
The person in this role will report to the Director, Investment Fund Services and will work in-person a minimum of 3 days a week at HHMI's impressive headquarters in Chevy Chase, MD.
What we provide:
The opportunity to support an investment team that handles one of the largest endowments in the world.
A role that is uniquely positioned to have an impact across the scientific landscape because of its ability to provide outstanding solutions and support that enable our people and advance our scientific mission.
Exceptional performers will have the chance to build their career with HHMI.
A competitive compensation package that includes a 10% employer contribution to your retirement, up to $10,000 in educational reimbursement each year, and a significant budget for professional development.
What you'll do:
Account Management
Connect with third-party service providers and investment managers about the opening, maintenance, and closing of accounts.
Coordinate with investment managers, fund administrators, and third-party service providers for investment transparency and valuation reporting.
Document operational activity in the internal CRM system and maintain investment records.
Maintain terms and conditions to satisfy investment reporting objectives.
Reconcile service provider invoices before payment.
Transaction Support & Cash Management
Provide operational support for cash flow activity such as capital calls, distributions, fee payments, subscriptions, redemptions, and internal trading activity including posting transaction activity to internal systems, providing transaction instructions to custodians/service providers, and ensuring instructions are processed and retained according to internal policies and procedures.
Maintain cash forecasting, research and resolve transaction settlement issues, and monitor ISDA or other collateral arrangements.
Reconcile custody positions and cash balances for the internal portfolios on a daily and monthly basis to ensure the internal and external records are in sync.
Monitor ongoing developments in the investment community impacting operational aspects of transaction processing.
Accounting & Valuation
Coordinate the accurate closing of the official custodian/administrator and internal shadow accounting records monthly for the endowment fund, including the accurate closing of the internally managed portfolios, in accordance with the HHMI Valuation Policy. Ensure all necessary information is collected from internal and external sources and appropriate audit documentation is maintained.
Post all valuation activity to appropriate internal systems in an accurate and timely manner. Communicate valuation instructions to the custodian/adminstrator to ensure timely recognition of valuation updates for the official accounting and performance records.
Prepare internal and external audit materials as requested and direct appropriate communication with senior management.
Reconcile custodian/administrator and manager accounting and valuation records to internal records.
Work with HHMI General Accounting team and external auditor as needed for ongoing developments in FASB/IASB compliance.
Performance & Analytics
Coordinate the accurate closing of the custodian and internal performance records monthly for the endowment fund, record and reconcile benchmark data, and ensure accurate data for and reporting of analytics information.
Maintain appropriate records of portfolio, composite, and benchmark history while developing quality controls for performance and analytics data.
Monitor developments in GIPS and other sources of performance standards.
Management Reporting
Prepare, review, distribute, and file as applicable standard internal investment reporting, quarterly Investment Advisory Committee and Trustee reporting, regulatory reporting, surveys, and other reporting as necessary.
Ensure similar data used in various reporting platforms is aligned and producing similar results.
Other
Coordinate with the investment team and cross-departmentally for legal, audit, tax, risk, due diligence, and other activities as appropriate.
Develop business relationships with HHMI staff, general partners, investment managers, peers, and other third-party service providers.
Develop/implement quality controls to reduce/eliminate risk and review/maintain/create procedures for business continuity as appropriate.
Participate in special projects and other duties as assigned.
If you do not meet all the qualifications or experience described below but have some relevant experience and this role appeals to you, we encourage you to apply for consideration.
The salary range listed on this posting is in alignment with the qualifications listed for this role. If your experience does not reflect the criteria outlined below, the range may be different.
What you bring:
Bachelor's degree in Business, Accounting, or Finance, or an equivalent combination of education and related experience
Minimum of 5 years of increasing responsibility with industry experience in investment fund operations, global custody operations, investment management operations, and/or fund accounting/performance operations.
Proactive and innovative problem solver demonstrating a strong work ethic, excellent organizational and interpersonal skills, and unwavering attention to detail.
Excellent time management skills with a track record of completing responsibilities while remaining flexible and nimble to handle changing priorities.
Knowledge of various investment instruments including private equity, hedge funds, stocks, bonds, and derivatives plus general knowledge of investment accounting and performance practices.
Proficient in MS Office applications. Familiarity with and willingness to learn/master internal/external technologies such as CRM software (e.g. Dynamo, Backstop, Bipsync, Salesforce), portfolio analytics applications (e.g. Caissa, Solovis, Novus, Burgiss, MSCI), Bloomberg tools, accounting and custodial platforms (e.g. Eagle Investment Systems Star/Pace, BNY Nexen).
Collaborative nature to work as part of a team and support peers.
Actively seeks opportunities to increase skills and expertise.
Application Instructions:
To apply, please submit a resume and a brief, one-page cover letter (required) stating how your qualifications and experience match the requirements and how your experience will support HHMI in its mission. We encourage qualified candidates who are eligible to work in the United States to apply.
Please note we are not able to sponsor a visa for this position.
Physical Requirements
Remaining in a normal seated or standing position for extended periods of time; reaching and grasping by extending hand(s) or arm(s); dexterity to manipulate objects with fingers, for example using a keyboard; communication skills using the spoken word; ability to see and hear within normal parameters; ability to move about workspace. The position requires mobility, including the ability to move materials weighing up to several pounds (such as a laptop computer or tablet).
Persons with disabilities may be able to perform the essential duties of this position with reasonable accommodation. Requests for reasonable accommodation will be evaluated on an individual basis.
Please Note:
This job description sets forth the job's principal duties, responsibilities, and requirements; it should not be construed as an exhaustive statement, however. Unless they begin with the word "may," the Essential Duties and Responsibilities described above are "essential functions" of the job, as defined by the Americans with Disabilities Act. #LI-EG1
Compensation and Benefits
Our employees are compensated from a total rewards perspective in many ways for their contributions to our mission, including competitive pay, exceptional health benefits, retirement plans, time off, and a range of recognition and wellness programs. Visit our Benefits at HHMI site to learn more.
Compensation Range
$129,913.60 (minimum) - $162,392.00 (midpoint) - $211,109.60 (maximum)Pay Type:
AnnualHHMI's salary structure is developed based on relevant job market data. HHMI considers a candidate's education, previous experiences, knowledge, skills and abilities, as well as internal equity when making job offers. Typically, a new hire for this position in this location is compensated between the minimum and the midpoint of the salary range.
