Columbia Investment Management Company, LLC, (???IMC???) is a wholly owned subsidiary of Columbia University (???Columbia???) charged with stewarding Columbia???s endowment for the current and future support of its operations and with preserving the purchasing power of the endowment over the long-term.
The IMC seeks professionals who can contribute materially to the management of the portfolio. Independent thinking and open dialogue are actively encouraged, with team members contributing to the skills, thinking, qualitative and quantitative analysis related to management of a multi-asset class portfolio invested in equities, real estate, other real assets, private equity, and a variety of public market strategies. Almost all funds are managed externally in a diversified strategy that uses active and passive management techniques across a range of asset classes.
The IMC environment is one in which staff members are expected to develop professionally and assume greater responsibilities according to ability and impact.
The Director (Operational Risk ???OR???) will report to the IMC???s Chief Operating Officer and will work closely with members of the IMC in a team-oriented environment. The OR function which includes Operational Due Diligence (???ODD???), is an integral component to the IMC???s investment process. The Director of OR will primarily be responsible for the implementation, coordination, and the execution of ODD program. They will have a strong working knowledge of the IMC portfolio and the investment process. The Director of OR is expected to collaborate with team members across functions to further develop and implement workflow improvements supporting OR. The candidate will manage complex problems, using communication and negotiation skills to help facilitate decisions.
Portfolio related responsibilities
Monitor the pipeline of investments in coordination with the investment team to ensure timelines of ODD reviews
Perform risk assessments based on qualitative factors, ensure the scope and ODD procedures are appropriate based on the firm???s strategy and organizational factors
Manage and coordinate ODD reviews performed by third party service providers, while selectively conducting direct reviews based on key criteria
Monitor progress of reviews, communicate findings/action points to internal stakeholders, and provide feedback to managers
Develop relationships with investment manager personnel to increase understanding of key persons and their respective roles and responsibilities at our partners
Review various legal documents, fee arrangements and other negotiated terms to ensure key risks are identified and documented
Review annual reports with a focus on documenting underlying valuations assumptions
Periodically analyze and review manager due diligence reports, periodic questionnaires, regulatory filings
Process related responsibilities
Ongoing development and maintenance of IMC???s ODD risk framework and standards
Continuously evaluate the ODD underwriting procedures for areas of improvement; periodically revisiting the role of third-party service providers, technology and other resources supporting the process
Play a key role in implementing ODD monitoring application with a focus on streamlining documentation, data collection, reporting and collaboration
Identify areas where other team members can help contribute to the ODD efforts (e.g., data collection, administration of periodic questionnaires, highlighting potential red flags)
Materially contribute to the assessment and enhancement of IMC OR framework and supporting processes
Periodically review and update IMC???s policy and process documents
Materially contribute to IMC???s Vendor Due Diligence Program
Deliver presentations internally related to ODD activities, benchmarking analysis and emerging issues affecting managers
Attend industry events and seminars to help keep current around developments affecting managers and Operational Due Diligence
Other related duties as assigned.
Bachelor???s degree and a minimum of five to seven years??? experience in a senior operational due diligence or operational audit/risk management role within the asset management industry is required.
CPA or CFA is desirable
Excellent interpersonal, written, and oral communication skills required to effectively communicate with a variety of audiences.
Must be detail oriented and have excellent spreadsheet and analytical skills.
In addition, strong critical thinking skills, a high degree of intellectual curiosity, and a desire to take on greater responsibilities and leadership are all required to be a successful member of the IMC team.
Demonstrated ability to work both autonomously and collaboratively in a demanding environment required.
Must have the ability to manage multiple tasks simultaneously and meet deadlines for short, long, and ad-hoc assignments.
Must have a commitment to exceptional quality, have the highest ethical standards, and have the professional and personal skills to contribute at a senior level to the development of a sophisticated investment management effort and the vision to contribute and further develop IMC???s portfolio.
Equal Opportunity Employer / Disability / Veteran
Columbia University is committed to the hiring of qualified local residents.
Columbia University is one of the world's most important centers of research and at the same time a distinctive and distinguished learning environment for undergraduates and graduate students in many scholarly and professional fields. The University recognizes the importance of its location in New York City and seeks to link its research and teaching to the vast resources of a great metropolis. It seeks to attract a diverse and international faculty and student body, to support research and teaching on global issues, and to create academic relationships with many countries and regions. It expects all areas of the university to advance knowledge and learning at the highest level and to convey the products of its efforts to the world.