Vice President, Investment Operations, Global Reconciliations
ares managementLos Angeles, CA
$170,000 - $190,000 per year
APPLY (opens in a new tab)Vice President, Investment Operations, Global Reconciliations
ares managementLos Angeles, CAManager L7
$170,000 - $190,000 per year
Portfolio Management and Investment AdviceMiscellaneous Financial Investment ActivitiesOpen-End Investment Funds
APPLY NOW (opens in a new tab)Ares Reconciliation Team LeaderOver the last 20 years, Ares' success has been driven by our people and our culture. Today, our team is guided by our core values – Collaborative, Responsible, Entrepreneurial, Self-Aware, Trustworthy – and our purpose to be a catalyst for shared prosperity and a better future. Through our recruitment, career development and employee-focused programming, we are committed to fostering a welcoming and inclusive work environment where high-performance talent of diverse backgrounds, experiences, and perspectives can build careers within this exciting and growing industry.
Responsibilities:
- Specific responsibilities include, but are not limited to: Proactively oversee the cash and par reconciliation team process, providing oversight and guidance and act as first level of escalation for all recon related issues
- Assist with the daily management and oversight of the reconciliation process including cash, par and non-custody reconciliations with both custodian bank and paying agents across all funds
- Direct fund administrators and custodian banks on solutioning for process related trends and review/reconcile processing output for accuracy while looking for root cause issues
- Prepare daily, weekly, monthly, and quarterly KPIs to track trends and workflow issues
- Maintain high standard of quality controls and oversight of the recon process to ensure breaks are escalated and resolved timely
- Influencing and participating in decisions on policies/procedures designed to ensure compliance with internal, legal, and regulatory policies and ensure changing business requirements are met
- Oversee all audit related inquiries and submissions on behalf of the recon team. Work with internal audit, audit consultants, and external audit on SOC 1 controls and testing
- Work with all internal and external stakeholders to improve and enhance recon team workflows
- Contribute ideas and recommendations to improve process efficiencies and increase risk mitigation
- Participate in meetings representing the recon team and participate in department initiatives such as system enhancements, off hours testing and new business conversions as necessary
- Manage relationships with custodian banks, agent banks, and admins
Qualifications
Education: Bachelor's degree in Finance or other business-related discipline
Experience Required:
- Minimum 10-12 years of investment management operations experience with high emphasis on reconciliation and relevant asset knowledge
- Management firms with expertise in Investment Operations and Reconciliation related functions
- Strong knowledge of various asset classes, primarily focused in the area of credit/fixed income, derivatives, and FX with an emphasis on bank debt and high yield/alt credit
- Strong understanding of the loan industry and standards
- Familiarity with standard activities carried out by financial intermediaries such as investment banks, broker/dealers, Prime Brokers, etc. Proficient in Microsoft Outlook, Word, Wall Street Office and Geneva
- Experience preferred with PowerBI, Python, and other similar technology
- Direct experience partnering with the business units to ensure operational efficiency and collaborative outcomes
- Experience working with an outsource/offshore service provider
- Experience working with custodian and agent banks
- Understanding of basic accounting theories
- Hedge fund, Credit or Private Equity experience is a plus
General Requirements:
- Extremely detailed oriented with a proven track record for accuracy
- Ability and desire to work in a fast pace and dynamic environment often requiring fast solutions to complex problems
- Display outstanding written and verbal communication and interpersonal skills. A self-starter with excellent verbal and written communication skills
- Strong control focus and ability to challenge streamline processes
- Problem-solving mindset, willing to roll up the sleeves
- Well organized, high attention to detail – role directly informs investment decisions
- Ability to follow up and see issues to final resolution
- Forward and proactive thinking and ability to find ways to prevent both cash and par breaks
- Strong control focus and ability to challenge streamline processes Ability/Willingness to continuously develop and maintain "next-level" understanding of Ares business philosophy and activities
Compensation:
$170,000 - $190,000 The firm also offers robust Benefits offerings. Ares U.S. Core Benefits include Comprehensive Medical/Rx, Dental and Vision plans; 401(k) program with company match; Flexible Savings Accounts (FSA); Healthcare Savings Accounts (HSA) with company contribution; Basic and Voluntary Life Insurance; Long-Term Disability (LTD) and Short-Term Disability (STD) insurance; Employee Assistance Program (EAP), and Commuter Benefits plan for parking and transit. Ares offers a number of additional benefits including access to a world-class medical advisory team, a mental health app that includes coaching, therapy and psychiatry, a mindfulness and wellbeing app, financial wellness benefit that includes access to a financial advisor, new parent leave, reproductive and adoption assistance, emergency backup care, matching gift program, education sponsorship program, and much more.
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Level
Manager L7
Salary
$170,000 - $190,000 per year
Location
Los Angeles, CA
Occupation
Financial Managers
Industry
Portfolio Management and Investment Advice
Posted
today