Director of Investment Operations

Department: Investment OfficeLocation: 270 Madison AvenueCompensation: $225,000 - $250,000 / yearDescriptionOverviewThe Investment Office is responsible for the Library’s $1.9 billion endowment investment program. Though the Library receives substantial funding from the City of New York as an independent nonprofit entity, the endowment's spending provides crucial ongoing support for the Library’s annual operating budget. The endowment portfolio is invested through external managers and is currently allocated across various asset classes and strategies, including domestic and international equities, marketable alternatives, private capital, real assets, and fixed income.Reporting to the Chief Investment Officer, the Director of Investment Operations is responsible for developing a strategic vision for the best-in-class operational infrastructure for a global, multi-asset-class portfolio. They are a critical part of the Investment Office's institutionalization. The individual should have a strong understanding of industry best practices in investment operations. They will manage performance and risk analysis, operational due diligence, fund data management, and the reporting and reconciliation of investment operations processes. This is a senior individual contributor role within a lean, flat investment office.We are looking for someone we can count on to…Own:Delivering performance and risk reporting across the portfolioExecuting investment operations, including subscriptions, capital calls, and cash managementManaging document and data infrastructure for the portfolioCoordinating the annual audit and tax process with NYPL’s internal finance teamsIdentifying, piloting, and operationalizing AI tools across Investment Office workflowsServing as the point-person for the Investment Team across departments, including Finance, Technology, and ProcurementManaging relationships with external vendors and service providersGrow:Data capture and analytics on existing investments, including through AI-assisted tools and automationAsset allocation review processUnderstanding of operational risks within our portfolioLearn:The office’s existing investment portfolio, systems, and workflowsThe evolving landscape of AI and technology applications in institutional investment managementImprove:Operations, investment infrastructure, and processesThe office’s approach to data quality, system integration, and reporting efficiencyOur expectations for this person are that within…1 month, this person will:Become familiar with our existing performance, risk, and document management systemsUnderstand our capital call and subscription processesBuild relationships with our external vendors and the internal Finance team3 months, this person will:Have familiarity with our existing portfolio and strategyMake an initial assessment of the strengths and weaknesses of our current processes and systemsParticipate in operational due diligence on pipeline managers and evaluate the strengths and weaknesses of their operational infrastructure6 months and beyond, this person will:Make recommendations for areas of process improvement — potentially via vendor changes, increased reporting, or areas for efficiency — and implement those recommendationsTake on full ownership of our operational due diligence processHave full management and responsibility for all portfolio, risk, and document management systemsResponsibilitiesPrepare monthly and quarterly performance reports for the CIO and Investment Committee, including portfolio attribution, risk metrics, and benchmark comparisonsProcess capital calls, subscriptions, redemptions, and in-kind distributions, coordinating cash movements with the internal finance teamPrepare and manage subscription documents, side letters, and investment office contracts through executionOversee operational due diligence on prospective managers and ongoing monitoring of existing managers, tracking material changes to fund structure, personnel, or service providersManage the onboarding, implementation, and ongoing maintenance of portfolio management systems in coordination with internal technology and purchasing teamsManage other related projects as directed by the Chief Investment OfficerRequired Education, Experience & SkillsRequired Education and CertificationsBachelor’s Degree in Finance, Economics, Accounting, or a related fieldRequired Experience7+ years of work experience in operations in an institutional investment office, endowment, foundation, OCIO, or fund administratorRequired SkillsDetail-oriented with strong analytical and quantitative capabilitiesStrong project management skills; able to manage multiple complex long and short-term projects in a dynamic, demanding environmentSolid understanding of investment strategies, asset classes, and financial marketsHigh degree of comfort with and interest in systems and applications relevant to investment operations, trading, reporting, and risk managementSelf-motivated and directed, with the ability to work independently in a lean team environmentPreferred QualificationsExperience with or demonstrated interest in applying AI tools to investment operations workflows — including data aggregation, reporting automation, or portfolio analytics — and an ability to evaluate emerging technologies for practical application in an institutional investment contextFamiliarity with Dynamo, Solovis, and/or FactSetMore...Other CompensationBonus: This role includes a competitive annual performance-based bonus, commensurate with experience and both individual and organizational performance.Core ValuesAll team members are expected and encouraged to embody the NYPL Core Values:Be Helpful to patrons and colleaguesBe Resourceful in solving problemsBe Curious in all aspects of your workBe Welcoming and InclusiveWork EnvironmentOffice settingPhysical DutiesN/APre-Placement Physical Required?NoUnion/Non UnionNon-UnionFLSA StatusExemptScheduleMon-Fri, 10am-6pmThis is a hybrid role - 3 days on-site; 2 days remoteThis job description represents the types and levels of responsibilities that will be required of the position and shall not be construed as a declaration of all of the specific duties and responsibilities for the role. Job duties may change if Library priorities change. Employees may be directed to perform job-related tasks other than those specifically presented in this description as needed.The New York Public Library Salary StatementAt the Library, we believe that pay transparency and pay equity are important to ensuring we source the best candidates and keep the best employees. When making a determination as to the appropriate salary for a candidate, we consider a variety of factors such, including, but not limited to, the position requirements, the skills, prior experience, and educational background required or preferred for the job, the scope and impact of the role within the organization, internal peer equity, and the candidate's specific training, experience, education level, and skills. No single factor is conclusive; the Library reserves the right to consider any and all relevant factors and make a decision consistent with its policies.Union Salaries are determined by collective bargaining agreement(s).