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OUR COMPANY BACKGROUND & CULTURE
UPP is a ground-breaking jointly sponsored pension plan tailored by and for Ontario’s university sector. Today, we manage $11.8 billion in pension assets and proudly serve over 37,000 working and retired members across four universities and 12 university-sector affiliated organizations. Our commitment is to protect the security and sustainability of our members’ pensions while delivering service excellence to our members and employers. UPP is a sector-wide plan designed for growth – our doors are open to all Ontario universities.
Our people are the heart of our organization. Together, we are creating a purpose-driven and inclusive workplace focused on a culture of teamwork, collaboration, and respect — for one another and the world around us. We’re looking for passionate individuals seeking a rewarding career and opportunities to build and shape an exciting new organization with a clear mission, and who share our core values of integrity, inclusivity, ingenuity, and impact.
THE ROLE
The Manager, Investment Operations is responsible for the day-to-day oversight of all investment transactions, investment accounting, and monitoring of the Plan’s portfolio. The role will primary focus on, but are not limited to, public market instruments. These responsibilities include, but are not limited to, the timely delivery and monitoring of investment and cash 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 is a fixed-term contract for a duration of 15-months with Benefits and Pension. Exciting Benefits include:
- Health and dental benefits
- Health Spending Account
- Lifestyle Spending Account
- Pension
- Vacation & UPP Days
This role is based in downtown Toronto under a hybrid work policy, allowing employees the flexibility to work remotely and in-office (approximately two days per week in-office).
KEY AREAS OF ACCOUNTABILITY:
Three key areas of accountability for the Manager, Investment Operations include (i) Investment Reporting, (ii) Investment Operations, and (iii) Controls.
SPECIFIC ACCOUNTABILITIES:
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Investment Reporting
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- Build reports that facilitate the continuous oversight on a total portfolio basis; focus on public markets
- 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
- Ensure accounting records and performance reporting is aligned
- Interact with various external professionals and service providers including auditors and consultants that require customized investment information
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 issuance 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
- Review derivative transactions and ensure correct cash flow in accordance to internal calculations
- Recommend operational efficiency improvements where possible
- Execute special projects as needed
Controls
- Perform appropriate reviews to ensure the data used for reports is accurate
- Reconcile and implement controls to ensure data integrity
- Implement checks and controls on derivative products and derivative related transactions (including collateral)
- 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
- 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 5 years of experience in an investments and operations environment
- Prior experience processing derivative instruments
- Prior experience working with a pension plan an asset
- Prior experience in trade operations and processing an asset
- Develop and coach internal SME under span of control
- Strong computer skills including solid grasp of MS Office applications and advanced Excel skills; VBA scripting skills and the ability to build out reports and presentations
- 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)
ATTRIBUTES:
- Demonstrated ability to manage the ambiguity and shifting work demands inherent in a start-up environment
- An ambitious self-starter and collaborative team player and who brings a positive can-do, roll-up-your-sleeves attitude in a highly entrepreneurial, fast-paced environment
- Resourceful and persistent in gathering and assessing information with the ability to quickly assimilate knowledge
- Strong communication skills, both verbal and written
- High degree of professionalism and integrity
*PERSONALITY TRAITS:
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- Self-driven
- Humility
- Strong work ethic
- Passion for learning
- Collaborative
- Authentic
- Personable
- Confident
UPP is pleased to offer accommodations for applicants with disabilities. If you are interested in applying for a job opportunity, or are contacted by UPP regarding a job opportunity, please advise of any accommodations you may require.
Job Type: Full-time
