Head of Financial Reporting & Operational Risk
The Head of Financial Reporting & Operational Risk will be a key leader within the MITIMCo Operations team and chair the Valuation Committee. The role is responsible for financial reporting for investments in MIT’s annual Treasurer’s report and its ERISA Plans, and for the issuance of financial statements for MIT’s special purpose investing entities. In addition, this individual will be responsible for coordinating, monitoring and assessing operational risk. This individual will work closely with members of the Global Investment Staff (“GIS”) by contributing to our external manager underwriting process assisting the GIS with structuring incentive fees and evaluating external manager operational risk. The role will be a key contributor in resolving tax and other possible investment structuring concerns working with MITIMCo’s Legal and Portfolio Operations Teams. This individual will also work with MITIMCo’s various department heads to collaborate with them in implementing MITIMCo’s external vendor due diligence program.
In order to effectively serve in this role, the individual should be familiar with derivative strategies to capture market exposure and have experience in supporting or advising on performance calculations, as well as in leading or managing strategic, organizational matters.
Principal Duties and Responsibilities (Essential Functions):
• Partner with GIS in performing financial/accounting analysis on both active and prospective external funds. Ensure fee models are represented properly within our risk and analytical systems.
• Support GIS in assessing manager operational risk at required set-points within the manager pipeline and underwriting processes.
• Responsible to ensure valuations are consistent with fair value and monitored and maintained consistent with our Valuation Policy.
• Coordinate program for oversight over liquidating managers.
• Internal subject matter expert on UBIT issues as related to global investments. Acts as liaison with MIT’s tax department in their work with external tax preparers. Maintain analysis to estimate new excise tax for certain endowments.
• Responsible for preparation of external surveys related to NACUBO, Cambridge Associates, etc.
• Responsible for regulatory and rating agency reporting in consultation with the Legal Team regarding US and non-US requirements, as appropriate.
• Monitors MIT's investment policy limits.
• Responsible for audits for MIT investments and MITIMCo managed investment affiliates (currently 12 entities).
• Liaise with MIT’s controller’s department on matters related to investment accounting with respect to MIT’s general ledger.
• Will report to the Chief Financial Officer.
• Ability to work independently is required.
• Will directly supervise one employee.
Qualifications & Skills:
• Equivalent to a B.S. degree in Accounting, Finance, or related field. CPA strongly preferred.
• 10+ years of experience in asset management accounting, both liquid and illiquid strategies
• Excellent interpersonal, organizational and communication skills
• Advanced negotiation, managerial and leadership skills
• Expert on GAAP accounting requirements and tax rules as they apply to investment companies and private fund structures
• Understanding of real estate operating and development activities a plus
• Experience in managing performance reporting
• Advanced problem solving skill to resolve ambiguous, complex and multi- variable problems
• Ability to organize and manage multiple projects and prioritize competing needs
• Strong Microsoft Office skills
• Keen judgment