Associate Director, Investment Operations (15-Month Contract)

OUR COMPANY BACKGROUND & CULTURE

UPP is the first pension plan of its kind in Ontario’s university sector, proudly serving over 41,000 members across five universities and fourteen sector organizations. Our purpose is to bring greater retirement peace of mind to the university sector by investing with integrity and serving members with care. As a sector-wide plan designed for growth, our doors are open to all Ontario universities.

Together, we’re a team of progressive thinkers and agile doers operating within a fast-paced culture of collaboration and respect. We believe in bringing smart and capable people together to create, solve, and grow with a clear shared vision and values of integrity, inclusivity, ingenuity, and impact. Our culture is intentionally welcoming and purposefully rooted in equity, diversity, inclusion, and reconciliation (EDI&R). We believe diverse teams, perspectives, and lived experiences contribute to better decisions and a better workplace.

As a pension plan, UPP approaches investing through a long-term lens to generate and safeguard value. Our commitment to investing responsibly accounts for material risks that impact our investment portfolio to generate sufficient risk-adjusted returns to meet the pension needs of our members.

Join us in building a bright future for our members, our organization, and each other.

THE ROLE

The Associate Director, Investment Operations (Private Market Investments) is responsible for the day-to-day oversight of all investment transactions, investment accounting, and monitoring of the Plan’s portfolio. These responsibilities include, but are not limited to, the timely delivery and monitoring of investment instructions, accurate recording of investment expenses and distributions, review of valuation and prices at the custodians, investment reporting, and reconciling and resolving accounting entries. The incumbent will also be required to have ongoing interactions with external portfolio managers and various service providers.

This role is based in downtown Toronto in a hybrid work environment, allowing employees the flexibility to work remotely and in-office (minimum two days per week in-office).

KEY AREAS OF ACCOUNTABILITY

Three key areas of accountability for the Associate Director, Investment Operations include (i) Investment Reporting, (ii) Investment Operations, and (iii) Controls.

SPECIFIC ACCOUNTABILITIES

Investment Reporting

• Build reports that facilitate the continuous oversight on a total portfolio basis
• Utilize technology and systems to design reports that can be assembled and distributed efficiently
• Review materials prepared by fund administrator(s) including reports, financials statements, G/L
• Coordinate the data between the custodian’s analytical systems and reporting service partners (e.g. performance and risk systems)
• Work with Corporate Finance to ensure investment accounting data is successfully reflected on the financial statements and notes
• Facilitate ad hoc reporting requests
• Oversee the entire accounting & custody books and records
• Interact with various external professionals and service providers including auditors and consultants that require customized investment information
• Generating and delivery of consolidated asset exposure reports for internal stakeholders

Investment Operations

• Ensure accurate and timely recording of investment transactions
• Maintain an ongoing collaborative working relationship with external portfolio managers and ensure timely recording of external information
• Monitor terms and conditions in accordance with Service Level Agreements for all investment service providers, including establishing performance and quality standards and targets and measuring performance
• Co-ordinate with fund administrator for processing of capital call notices, distribution notices, financial statements, investor capital account statements, and performance reports
• Ensure accuracy of management fee and carried interest calculations on private and alternative investments
• Assist in the onboarding and integration of external university pension plans into the UPP investment operations and portfolio structure
• Assist in the onboarding of new external managers including opening new accounts at the custodian, documenting tax status and implications
• Recommend operational efficiency improvements where possible
• Manage business relations with Investment team and ensure ‘no surprises’ operations
• Plan and execute special projects as needed
• Service Delivery with corporate stakeholders with regards to onboarding new Universities Investment portfolios
• Proactively anticipate, manage and build out the deal closing process from an operational perspective to ensure timely and accurate funding for deal close

Controls

• Perform appropriate reviews to ensure the data used for reports is accurate
• Reconcile and implement controls to ensure data integrity
• Build controls to ensure all transactions have the appropriate authorizations
• Monitor ongoing compliance with regulatory reporting requirements and tax filings
• Perform monthly and quarterly compliance reviews to ensure the UPP portfolio are managed in accordance with the SIPP
• Ensure all external managers meet their reporting requirements
• Ensure policy and procedures are adhered to and updated as needed
• Build investment schedules and reports that assist with audit processes

QUALIFICATIONS & EXPERIENCE

• Undergraduate degree in Business, Finance or Economics
• Professional accounting designation (CPA), CFA and/or CAIA designation an asset
• Minimum of 7 years of experience in an investments and operations environment
• Prior experience working with private investments
• Prior experience working with a pension plan an asset
• Prior experience in trade operations and processing an asset
• Proven ability to build and foster business partnership with both internal and external stakeholders
• Ability to drive for results and problem solve
• Strong computer skills including solid grasp of MS Office applications and advanced Excel skills
• Strong understanding of public market instruments
• Proven experience in building out processes, procedures and tools for investment finance operations
• Proven ability to build and maintain strong working relationships with service partners (fund administrators, custodians, external managers, and so on)