Operational Diligence Manager
- NorthShore - Edward-Elmhurst Health
- Evanston, Illinois
- Open / Negotiable
- Mar 16, 2023
- Apr 15, 2023
- Job Code: 84745
- Job Function
- Accounting/Audit/Tax, Compliance/Regulatory, Hedge Funds, Operations, Performance Analysis
- Industry Sector
- Accounting/Audit Firm, Asset Management, Asset Owner, Consulting Firm, Finance - General
- Employment Type
- Full Time
- Position: Operational Diligence Manager
- Full Time/Part Time: Full-time
The NorthShore – Edward-Elmhurst Health (“NS-EEH”) investment department is headquartered in Evanston, IL and oversees $8 billion in investment assets, which includes a corporate endowment fund, three pension funds, and several defined contribution programs. The department works closely with the Board of Directors, Investment Committee and internal management and is committed to being an innovative, top-tier investment team among peers.
As the Operational Diligence Manager at NS-EEH, you will lead the day-to-day operational diligence function for all external investment managers utilized by the NS-EEH investment portfolios. In this role you will be an integral part of a rapidly growing team that is committed to developing internal talent via close collaboration with the CIO and other investment team members.
What you will need:
Education: Bachelor of Arts or Bachelor of Science required, preferably in Business, Finance, Accounting, Management, Economics, Social Sciences, or a related field. A Master’s degree and/or CFA/CAIA, or progress towards, would be considered a plus but not required.
Experience & Skills:
- A minimum of two (2) or more years of relevant manager operational diligence experience
- Seven (7) or more years of manager operational diligence experience preferred
- Strong presentation and communication skills
- Ability to work well within a team environment
- Proficiency in Excel, PowerPoint, Word and Adobe Acrobat
- Attention to detail
- A comprehensive understanding of the full cycle operational diligence review processes
- Understanding of investment manager middle and back-office operations, fund administration, portfolio accounting, regulatory compliance and other relevant industry experience
- This role requires critical thinking skills, decisive judgment and the ability to work with minimal supervision
What you will do:
- Develop a comprehensive framework for performing both initial and ongoing operational diligence on external investment managers across public equities, fixed income, hedge funds, private equity, and real assets
- Conduct scheduled and ad-hoc operational diligence reviews of existing and potential investment managers, investment consultants and other investment service providers.
- Review all relevant areas including personnel, processes, fund terms, systems, trade capture, cash controls, valuation, counterparty risk, accounting and financial reporting, risk management, performance measurement, documentation, legal, regulatory, compliance, disaster recovery, cyber security, etc.
- Analyze key offering documents, policies, DDQs and audited financial information
- Identify, assess and communicate observed deficiencies/areas of concern, presenting findings together with appropriate recommendations to the relevant investment committee(s) and internal staff through written reports and verbal presentations
- Develop relationships with background check providers and operational diligence vendors that may periodically be used
- Accurate and timely maintenance of internal diligence database
- Lead all investment manager compliance and tax reviews by working with internal compliance and tax teams
- Opine on the merits of the different investment vehicles offered by funds under consideration to ensure tax efficiency of investments
- Drive initiatives for improvement of diligence processes working in partnership with key partners to build and sustain best-in-class investments
- Provide back-up support for the Investment Operations Analyst to help review and process transactions and prepare reports
NorthShore – Edward-Elmhurst Health is a fully integrated healthcare delivery system committed to providing access to quality, vibrant, community-connected care, serving an area of more than 4.2 million residents across six northeast Illinois counties. Our more than 25,000 team members and more than 6,000 physicians aim to deliver transformative patient experiences and expert care close to home across more than 300 ambulatory locations and eight acute care hospitals – Edward (Naperville), Elmhurst, Evanston, Glenbrook (Glenview), Highland Park, Northwest Community (Arlington Heights) Skokie and Swedish (Chicago) – all recognized as Magnet hospitals for nursing excellence. Located in Naperville, Linden Oaks Behavioral Health, provides for the mental health needs of area residents. For more information, visit NorthShore.org, SwedishCovenant.org, NCH.org and EEHealth.org.
When you work for NorthShore – Edward-Elmhurst Health, you will be part of an organization that encourages its employees to achieve career goals and maximize their professional potential.
Please explore our website (www.northshore.org) to better understand how NorthShore – Edward-Elmhurst Health delivers on its mission to “help everyone in our communities be their best”.
NorthShore – Edward-Elmhurst Health is committed to working with and providing reasonable accommodation to individuals with disabilities. Please refer to the main career page for more information.
Diversity, equity and inclusion is at the core of who we are; being there for our patients and each other with compassion, respect and empathy. We believe that our strength resides in our differences and in connecting our best to provide community-connected healthcare for all.
EOE: Race/Color/Sex/Sexual Orientation/ Gender Identity/Religion/National Origin/Disability/Vets, VEVRRA Federal Contractor.
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