Investment Operations and Audit Manager

American Red Cross Washington, DC
Job Description:

As one of the nation's premier humanitarian organizations, the American Red Cross is dedicated to helping people in need throughout the United States and, in association with other Red Cross networks, throughout the world. We depend on the many generous contributions of time, blood, and money from the American public to support our lifesaving services and programs. At the American Red Cross, you will enjoy a collaborative work culture committed to the diversity of our people, programs, and services. If you share our passion for helping people, join us in this excellent career opportunity.

A critical part of the organization's financial operations is made up of a $1BN Endowment and $2BN ERISA Defined Benefit Retirement Plans. The organization is currently in the process of outsourcing the investment and operations management of these two large pools of assets to an Outsourced Chief Investment Officer (OCIO).

Job Summary:

The Investment Operations and Audit Manager will be responsible for overseeing all aspects of the operations, administration and performance measurement as executed by the OCIO, managing the financial reporting and annual external audit processes and executing all other operational and administrative functions outside of the OCIO's responsibility for the Endowment and Retirement Plans. Operational responsibilities include setting up and monitoring of operational controls and regular reconciliation processes. Financial reporting and audit responsibilities include researching practices and regulatory accounting changes, managing all financial reporting, producing financials and footnotes, form 5500 reporting, planning and executing the interim and final investment audit processes. Administrative responsibilities include legal and regulatory oversight, contracts implementation and oversight, vendor coordination, budgeting and control.

As the investments and operations functions are being outsourced to an OCIO, the Investment Operations and Audit Manager will play a key role in managing and overseeing all aspects of the operations transition to the OCIO in the immediate period after hiring.

Responsibilities:

Set up, monitor and recommend improvements of operational controls and regular reconciliation processes at the OCIO to ensure accuracy of reported valuations and performance.

Plan and execute the annual external audit processes, including researching changes to controls, audit practices and regulatory changes, coordination of audit support with the OCIO, execution of audit testing, PBCs, financial statements and footnotes. Key contributor in assurance and annual compliance review process. Primarily responsible for compliance with regulatory requirements in the applicable financial reporting areas as they apply to institutional investments, including compliance with ASC 820, ASC 815, Topic 210 (ASU 2013-01) and form 5500. Responsible for development of Fair Value and Leveling policies.

Monitor regulatory compliance by the OCIO by identifying, evaluating and interpreting OCIO provided solutions to comply with global regulations impacting the Red Cross investment plans. Applicable global regulatory bodies include: FASB, ERISA, SEC, CFTC, ESMA, IRS (FBAR and FATCA), and UPMIFA.

Manage operational and administrative functions outside of OCIO's control, such as plan transactions, vendor contracts, invoices processing, cash balances. Oversee custodian processes and recommend improvements, including monitoring of month-end closing processes.

Review OCIO reporting requirements and deliverables for accuracy and improvement needs.

Manage current daily operations, performance reporting and ongoing audit processes in the interim period of transition to the OCIO.

Develop and execute operating policies to support investment objectives and American Red Cross policies. Shape internal rules, policies and procedures.

Support Treasury, Shared Services, Tax and Compliance as required.

Qualifications:

Education: Bachelor's degree in Accounting, Economics, Finance, Business or related field. Master's degree and CFA/CPA is preferred.

Experience: Minimum 5 years of demonstrated progressive responsibility and relevant experience, preferably with a leading private sector endowment, foundation or qualified plan organization. Strong investment industry knowledge and experience required. Audit experience with one of the Big Four firms strongly preferred. Investment industry legal and regulatory knowledge strongly desired.

Management Experience: none

Skills and Abilities: A solid working knowledge of investment management, investment accounting, investment operations, budgeting and strategic planning. Ability to manage complex projects involving various stakeholders and multiple projects of varying priority. Ability to generate respect and trust from staff and external constituencies. Outstanding organizational skills and detail orientation. Goal-oriented, task driven. Strong collaboration skills and experience working in small teams. Creative problem-solving skills and a future-oriented vision. Strong interpersonal, communication, public speaking, press relations and presentation skills. Strong sense of the mission of the American Red Cross.

Travel: Occasional travel may be required.

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Apply now! Joining our team will provide you with the opportunity to make a difference every day.

The American Red Cross is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected veteran status, age, or any other characteristic protected by law.

The American Red Cross is a diverse nonprofit organization offering its employee's professional development and growth opportunities, a competitive salary, comprehensive benefits, and a collaborative team spirit environment.