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Specialist, Client Service Lead -Front Office Solutions

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Cedent Consulting Inc.

21d ago

  • Job
    Full-time
    Senior Level
  • Customer Relations
    Banking & Finance
  • Chicago

AI generated summary

  • You must have 7+ years in institutional investments, deep knowledge of alternatives, experience in operations and performance measurement, and strong client management skills.
  • You will manage client service needs, resolve requests, oversee data analysis and reporting, lead client onboarding, ensure adherence to service levels, and conduct training and process improvements.

Requirements

  • Experience working with complex asset owners including Endowments, Foundations, Family Offices, OCIOs, Pension Funds, Sovereign Wealth Funds, and institutional asset managers.
  • Strong understanding of institutional investment industry, including markets, instruments, funds and fund structures, trading, etc.
  • Deep knowledge of alternative assets and related operational processes (hedge funds, private equity). Demonstrated understanding of private equity transactional impacts on unfunded commitments, market value, cost, and other metrics typically associated with private equity (TVPI, DPI, PIC, etc.).
  • Experience managing an investment operations team.
  • Deep understanding of investment operational processes, transactional impacts, cash movement, accruals, and valuation methodologies.
  • Deep understanding of accounting/reporting methods, including IBOR, ABOR, TrueNav, to support complete and accurate data capture.
  • Knowledge of performance measurement concepts and standards including GIPS Standards.
  • Understanding of benchmarks and benchmark calculations across multiple asset classes as well as an understanding of the benchmark provider industry; understanding of blended benchmarks and custom benchmarks and data management nuances.
  • Prior experience with multi-asset class portfolio management software.
  • Advanced understanding of Microsoft Suite (Excel, Word, PowerPoint, Visio), with emphasis on Excel.
  • Experienced in operational process improvement.
  • Client servicing and relationship management experience; high level of comfort communicating directly with clients and client advocacy.
  • Must be able to work closely and collaborate with internal stakeholders.
  • Ability to prioritize, multi-task, and perform effectively under deadlines.
  • Ability to handle multiple concurrent projects and to reconcile any conflicting priorities.
  • Commitment to project success as it may require working unconventional hours during critical project phases.
  • A College or University degree
  • A minimum of 7 years of institutional investment industry experience in the following fields:
  • Performance Measurement & Investment Data Analytics (attribution, liquidity, and exposures)
  • Alternative asset operations
  • Investment Operations (analytics, reporting, fund or investment accounting)
  • Fund accounting
  • Financial reporting
  • Accounting
  • Investment account data reconciliation – accounting and performance
  • Completion (or progress towards) of advanced credentials (CFA, CAIA, CPA, MBA) preferred.
  • A genuine desire and capability to work in a fast-paced, professional, inclusive environment which requires teamwork, well-honed problem solving skills, frequent re-prioritization, deadline management, ongoing and comprehensive communication, constant attention to detail, and a commitment to continuous improvement and best practices.

Responsibilities

  • Serves as daily point of contact for advanced / escalation of client service needs.
  • Responsible for interpreting, reviewing and resolving ad hoc client requests.
  • Works with client's operational staff on discovery, problem resolution, and workflow management.
  • Acts as first point of escalation for daily / monthly performance issues as raised by junior team members.
  • Acts as a final reviewer and approver for month-end client cycle. Includes:
  • Validating statement-based valuations
  • Delivery of all client data analysis and reporting, inclusive of:
  • Accounting
  • Exposures
  • Performance
  • Hosting monthly client sign off meeting to review all data and performance results with client.
  • Provides final review and sign off on client output including NAV, allocation and underlying client performance
  • Leads new client onboarding
  • Participates in initial client discovery sessions, assists in project planning, setting client expectations and facilitating continuous client updates throughout the onboarding process.
  • Responsible for the review of all historic data entry and reconciliations during client onboarding.
  • Creates client service level descriptions (SLDs) and any associated client negotiations.
  • Responsible for management of team and tasks to meet continuous client deadlines and milestones during onboarding process.
  • Responsible for adherence to client service level deliverables as documented in the respective SLDs.
  • Responsible for detailed management of client investment data:
  • Investment transactions (typically statement based for alternative assets; file based for public markets)
  • Investment valuations (typically statement based for alternative assets; file based for public markets)
  • Cost basis analysis, cash movement, pricing, gain and loss analysis, account and position reconciliation
  • Alternative investment manager estimates
  • Plan income / expense items
  • Plan contributions / spending withdrawals
  • Underlying manager exposure data
  • Benchmark data
  • Alternative investment performance data
  • Responsible for oversight of all investment reconciliations, including reconciliation of cash, positions, performance, transactions, alternative investment metrics (unfunded commitments, etc.)
  • Responsible for oversight of NAV, allocation and underlying client performance for alternative investments
  • Analyzes and communicates output from attribution models to clients
  • Analyzes and communicates Public Market Equivalent (PME) output to clients
  • Serves as a resource for toolset’s liquidity analysis and portfolio planning capabilities supporting the institutional asset owner clients.
  • Creates materials and conducts ongoing training activities for clients and new FOS team members, supporting full-service clients and software-only clients
  • Creates training materials and leads training sessions on daily operational activities as well as system capabilities
  • Participates in ongoing process improvement discussions where feasible including:
  • Third party vendor sourcing
  • Process improvement through technical skills
  • Ongoing Front Office Solutions program build (fee billing, legal contracts, training, etc.)

FAQs

What is the job title for this position?

The job title is Specialist, Client Service Lead – Front Office Solutions.

Where is this job located?

This job is located in Chicago, IL.

What is the salary range for this position?

The salary range for this position is $115K to $135K per year, plus benefits.

What are the primary responsibilities of this role?

The primary responsibilities include serving as the daily point of contact for client service needs, overseeing investment data administration, managing client onboarding, and ensuring adherence to client service level deliverables.

What qualifications are required for this position?

Required qualifications include a college or university degree and a minimum of 7 years of institutional investment industry experience in fields such as performance measurement, investment data analytics, and alternative asset operations.

Is experience with alternative assets necessary?

Yes, deep knowledge of alternative assets and related operational processes is required, including experience with hedge funds and private equity.

Are there any preferred qualifications for this job?

Preferred qualifications include completion or progress towards advanced credentials such as CFA, CAIA, CPA, or MBA, as well as experience using programming languages like VBA or Python for data analysis.

What skills are essential for this position?

Essential skills include strong understanding of investment operational processes, client servicing and relationship management, advanced knowledge of Microsoft Suite (especially Excel), and experience in operational process improvement.

Will I need to manage a team in this role?

Yes, the Specialist will be responsible for managing a team and tasks to meet client deadlines during the onboarding process.

What kind of work environment can I expect?

You can expect a fast-paced, professional, and inclusive environment that requires teamwork, problem-solving skills, and a commitment to continuous improvement.

Does the position involve working unconventional hours?

Yes, there may be a commitment to project success that could require working unconventional hours during critical project phases.

Will I have opportunities for training and development?

Yes, the role includes creating training materials and conducting ongoing training activities for clients and team members.

What type of clients will I be working with?

You will be working with sophisticated institutional investors, including foundations, endowments, pension funds, corporations, and sovereign wealth funds.

How important is client communication in this role?

Client communication is very important, as the Specialist will act as a resource and advocate for clients, addressing their needs and managing expectations throughout various processes.

Cedent Consulting Inc.

Consulting
Industry
11-50
Employees
2008
Founded Year

Mission & Purpose

Cedent provides an agile and optimized business process enabling you to concentrate on executing your strategy and be sure that your IT systems and processes back your initiatives. We offer consultancy services that range from IT strategy and process consulting to technology consulting and solution architecture.