Director of Operations - 501827

Spider Management Company (“Spider Management” or “Spider”) is the investment office for the University of Richmond and a select group of other endowments and foundations. Through a unique outsourced chief investment officer (OCIO) model, Spider manages over $6 billion in assets, representing approximately $3 billion from the University of Richmond and $3 billion from over 25 other non-profits, including colleges & universities, independent schools, community foundations, and cultural institutions. Spider Management is a dynamic and fast-paced investment management firm, investing a single portfolio across public equity, absolute return (hedge funds, credit, lower correlation strategies), private equity (venture capital and buyout), real assets (real estate and natural resources), and fixed income strategies.

At Spider Management, we are the only university-owned investment firm that offers its services exclusively to non-affiliated endowments and foundations. Our philosophy — do one thing and do it well. Our experienced team maintains a consistent and disciplined process focused on growing the University of Richmond and partners’ endowments through strong absolute returns, capital preservation, and a long-term horizon through a diversified portfolio of world-class managers. Our investment strategy is designed to align with other like- minded endowments and foundations, with the goal of generating the best risk-adjusted returns for our clients.

Reporting to the Chief Investment Officer, the Director of Operations will provide comprehensive oversight and management of investment operations, performance reporting, data and knowledge management, operational due diligence functions. S/he will work closely with the investment team to evaluate and monitor the investment portfolio from a legal and operational diligence lens. In the pursuit of enhancing the investment team’s analytical and risk management capabilities, s/he will also drive data, knowledge management, and technology initiatives, in addition to owning financial functions related to investments, including cash management, performance reporting, and tax, as well as oversight of third parties. The successful candidate should be committed to and excited about the opportunity to drive efficiencies, capabilities, and integration between various non-investment and investment-related functions, while leading and managing a team and contributing to the broader growth and mission of the firm.

The successful candidate will oversee the suite of operational, financial, and technology functions related to investing, including collaborating closely with the CIO, Chief Administrative Officer (CAO), investment and investor relations teams to enhance and contribute to the investment process reporting. As a senior leader on the team, s/he will guide the strategic and practical growth of the firm’s infrastructure, alongside being a positive culture-carrier and representative, both internally and externally. Additional responsibilities include:

• Partnering closely with the CIO, CAO, and investment and investor relations teams to oversee and optimize investment operations, reporting, risk management, and portfolio analytics
• Identifying and executing the operational needs associated with new investments and portfolio activity
• Managing and coordinating day-to-day operational activities for the investment portfolio including accounting, capital calls, cash and stock distributions, documentation requests, account openings/ closures, subscription and redemption documents, liquidity modeling, and cash management
• Ensuring efficient and timely production of periodic closes and reporting, and interim reporting requests
• Managing relationships with back- and mid-office vendors to achieve high levels of service, accuracy of information and adoption of best practices

• Overseeing and/or supporting tax efforts, including planning, preparation, and compliance; working with appropriate external advisors to develop optimal tax strategies for investments and clients
• Working closely with the Chief Administrative Officer to drive process improvements and integration across teams, including for relevant, efficient, and accurate client reporting
• Identify and lead process improvement and technology projects, including vetting and selection, ensuring data integrity and enhancing the potential for effective performance data and knowledge management
• Developing reporting tools for incorporating quantitative analysis and qualitative judgements to inform investment and portfolio management decisions
• Spearheading the operational and legal due diligence of prospective fund managers
• Staying current on new concepts and requirements in investment management and accounting, tax, and reporting standards; determine applicability to and impact on the portfolio
• Attracting, structuring, managing, and mentoring a team across relevant functions. Identifying resource and capability gaps within the team and executing plans to fill them

QUALIFICATIONS

The successful candidate will possess a minimum of ten years of relevant experience, including oversight of investment operations, finance, tax, and/or performance reporting functions, within a relevant investment platform, including family offices, endowments, foundations, hedge funds, other asset managers, and consulting firms. Additional qualifications include:

• Oversight of investment operations and/or a range of corporate function disciplines, such as finance, tax, performance reporting, and risk management
• Demonstrated experience managing and enhancing investment performance reporting and cash management functions
• Familiarity with a breadth of investment strategies, risks, and operational and financial requirements
• Comfort with overseeing accounting, tax, and reporting, and managing outsourced service providers
• Demonstrated quantitative and analytical skills, and a high level of proficiency in Excel; experience with other software systems relevant to investment/risk management is desirable
• Organized and disciplined self-starter, with ability to take ownership of responsibilities and projects and execute to a high standard
• Strong project management skills; proven ability to develop project plans, provide regular updates to project sponsors, and adjust project direction as needed
• Exceptional attention to detail and commitment to improving accuracy of data and preventing errors
• Ability to assess competing priorities in a fluid environment, and effectively communicate regular updates to the team and adjust project direction as needed
• Team-oriented and willing to roll up his/her sleeves to contribute to the group’s common objectives
• A proven leader, with an ability and interest in recruiting, managing, mentoring, and retaining a team
• S/he must be enthusiastic about being part of the organization and contributing to its important mission
• Strong business acumen, client-service, and results orientation
• The highest level of integrity, intellectual capability, honesty, and sense of fiduciary duty
• CPA or CFA preferred

TO APPLY:SpiderOperations@davidbarrettpartners.com