Job DescriptionOpen to Internal Applicants Only: All applicants for this position must be current employees of the Office of the New York City ComptrollerThe Bureau of Asset Management (BAM) is responsible for oversight of the Investment Portfolios of the New York City Retirement Systems (Systems). This approximately $254 billion total portfolio is managed primarily by external Investment Managers and is largely invested in publicly traded securities with additional allocations to private equity, real assets, infrastructure, hedge funds, and opportunistic fixed income investments. In addition, approximately $10 billion of city funds are invested internally.The Expense Management team is responsible for the verification and payment of Investment Manager and other external service provider invoices related to the New York City Retirement System’s Investment Portfolio and the verification of accounting records related to these fees. Reporting directly to the Group Head of Expense Management, responsibilities of the position include, but are not limited to, the following:
Receives and verifies Investment Manager and other external service provider invoices;
Ensures that current Schedule A contracts are available for verification of invoices;
Prepares invoice verification worksheets for verification of fees;
Initiates and approves payment of fees in the payment processing system;
Reviews Custodian’s set up for accrual of investment management fees;
Provides updates to Custodian’s system for the accurate accrual of fees;
Performs reconciliation of fee accruals and payments;
Prepares adjustments for accurate accounting of fee accruals;
Provides reporting/metrics on payment processing;
Prepares and process cash sweeps for Alternative accounts and performs other transfers as needed
Assist Expense Management Group Head in managing the processes and training team members;
Performs other related duties and functions as required.
QUALIFICATION REQUIREMENTS: A baccalaureate degree from an accredited college, and three (3) or more years of satisfactory full-time experience in investment activities of a governmental agency, financial institution, or brokerage firm.Qualifications
A baccalaureate degree from an accredited college or university, including or supplemented by 24 semester credits in accounting, business administration, economics, finance, law, mathematics, and/or statistics and one year of satisfactory full-time experience in investment activities of a governmental agency, financial institution, or brokerage firm; or
A baccalaureate degree from an accredited college or university and two years of satisfactory full-time experience in investment activities of a governmental agency, financial institution or brokerage firm.
Special Note: To be eligible for placement in Assignment Level II individuals must have, in addition to meeting the minimum requirements, at least one additional year of full-time experience in investment activities of a governmental agency, financial institution or brokerage firm. Special Note: To be eligible for placement in Assignment Level III individuals must have, in addition to meeting the minimum requirements, at least two additional years of full-time experience in investment activities of a governmental agency, financial institution or brokerage firm.Additional InformationThe City of New York is an inclusive equal opportunity employer committed to recruiting and retaining a diverse workforce and providing a work environment that is free from discrimination and harassment based upon any legally protected status or protected characteristic, including but not limited to an individual's sex, race, color, ethnicity, national origin, age, religion, disability, sexual orientation, veteran status, gender identity, or pregnancy.
