Investment Operations Director

The Art Institute of Chicago shares its singular collections with our city and the world. We collect, care for, and interpret works of art across time, cultures, geographies, and identities, centering the vision of artists and makers. We recognize that all art is made in a particular context, demanding continual, dynamic reconsideration in the present. We are a place of gathering; we foster the exchange of ideas and inspire an expansive, inclusive understanding of human creativity.

Please click on the links below to view our competitive, comprehensive benefits package:

• Hiring Range: $131,200 - $160,000
• Benefits
• PTO Overview
• Job Classification: Full Time Salaried Staff
• Grade Level: 11

POSITION SUMMARY: The Director of Investments works closely with the EVP, Accounting department, external investment advisors and managers in the execution of investment strategies.  

ESSENTIAL FUNCTIONS:

1. Investment Operations

• Oversees daily operations related to the endowment, including settlements, cash flow tracking and account reconciliations.
•  Facilitates the execution of investment transactions, including sending and receiving funds for capital calls, distributions and trade activity.
•  Collaborates with investment consultants, custodians and fund administrators and investment managers to ensure accurate and timely execution of transactions.
•  Maintains comprehensive records of investment holdings, transactions and valuations.
•  Monitors cash balances and ensures sufficient liquidity to meet operations and investment requirements.
•  Supports activities of the Investment Committee.
•  Monitors the performance of the investment manager for the defined contribution pension plan.

2. Fund Documentation

•  Reviews, completes and processes subscription documents for new investments, ensuring accuracy and compliance with institutional policies.
•  Facilitates external legal review of fund documents to address any legal, compliance or operational concerns.
•  Coordinates with internal legal, compliance and finance teams to confirm proper alignment with investment and operations guidelines.
•  Maintains an organized repository of all fund agreements, amendments, side letters and other relevant documents.
•  Serves as the primary liaison with external fund managers and administrators to support onboarding and fund transitions.

3. Compliance and Risk Management

•  Ensures adherence to the institution’s investment policies, regulatory requirements, and risk management frameworks.
•  Monitors and documents compliance with asset allocation targets, investment restrictions and ethical guidelines.
•  Proactively identifies and addresses potential operational risks, escalating concerns as necessary.
•  Collaborates with internal and external stakeholders to support the implementation of internal controls and compliance protocols.

4. Financial Reporting and Audit Support

•  Assists in preparing financial information related to the endowment, ensuring accuracy and alignment with accounting standards.
•  Supports the finance team in tracking income, expenses and net assets values across investment accounts.
•  Collaborates with auditors during annual endowment audits by providing documentation, schedules and addressing inquiries.
•  Assists in the preparation of budget forecasts, annual reports, and regulatory filings as required.
•  Monitors manager communications for potential valuation issues.

 

EDUCATION AND EXPERIENCE REQUIRED (an equivalent amount of training education and experience will be considered)

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