Vice President, Investment Operations, Global Reconciliations

Over 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.

Job Description

SUMMARY

Ares is looking for a Vice President to join the Los Angeles or New York based Investment Operations team. This role reports to Principal of Investment Operations – Reconciliation Team. The candidate is responsible for monitoring and resolving both cash and par discrepancies between the bank and agent banks. This includes cause analysis and impact assessment, while actively enhancing the platform to streamline and strengthen team capabilities, processes, controls, and technology. Good critical thinking skills and a “solutioning” mindset are a must.

Reports to: Principal, Investment Operations, Global Head of Reconciliations

PRIMARY FUNCTIONS & 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

Reporting Relationships

Head of Investment Operations

Compensation

$210,000 - $225,000

There is no set deadline to apply for this job opportunity. Applications will be accepted on an ongoing basis until the search is no longer active.