| SUMMARY DESCRIPTION OF CLASSIFICATION: Under direction of the Director of Investments, the Manager, Investment Operations (Manager) leads the operational activities supporting the investment portfolios of Montgomery County Public Schools (MCPS) Retirement System Trust (pension) and the MCPS Tax-Sheltered Savings Plan and Deferred Compensation Plan (DC plans). This role is responsible for ensuring accurate, efficient, and compliant execution of investment operations and plan administration, while coordinating with custodians, investment managers, consultants, attorneys, recordkeepers, actuaries, trustees, investment committee members and internal staff. The Manager plays a critical role in safeguarding assets, ensuring operational excellence, and supporting the overall investment strategy.
PHYSICAL DEMANDS: None
SPECIAL REQUIREMENTS: Ability to work a flexible schedule to work periodic nights and weekends to meet deadlines. Occasional travel to attend meetings with investment managers, service providers and industry conferences.
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KNOWLEDGE, SKILLS, AND ABILITIES: A strong knowledge of investment fund operations, plan administration and compliance principles and practices of both defined benefit and defined contribution plans. Ability to evaluate and manage external service providers, including but not limited to custodians, investment managers, consultants, attorneys, recordkeepers and actuaries. Familiarity with public and private market investments, settlement processes, custodial accounting, custodian systems and recordkeeping systems. Considerable knowledge of contract management and plan documentation principles. Demonstrated ability to quickly learn Human Capital Management systems, Fidelity Plan Sponsor Workstation website and other vendor websites used to administer plans. Ability to lead and participate in seminars, new employee orientations and retirement workshops either in-person or via webinar. Skilled in developing and implementing operational and administrative policies, procedures, and controls. Strong organizational, analytical and interpersonal skills. Strong commitment to fiduciary responsibility, accuracy, and risk management. Detail-oriented, disciplined, and process-driven. Collaborative team player who can work across investment, legal, finance, and HR functions. Problem-solving mindset with ability to navigate operational and compliance complexities. Integrity and accountability in handling sensitive financial operations. Ability to multi-task and prioritize among time-sensitive tasks. Intellectual curiosity and continual self-development. Ability to acquire knowledge of and meet the standards established for the MCAAP Professional Growth System. |
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EDUCATION, TRAINING, AND EXPERIENCE: Bachelor’s degree from an accredited college or university required. Major in Business Administration, Accounting, Economics, Finance, or related field preferred. Minimum of five years of professional experience demonstrating advanced knowledge and competence in investment operations, plan administration and plan compliance, preferably within a pension fund, endowment/foundation, OCIO, or asset management firm. CERTIFICATE AND LICENSE REQUIREMENTS: MBA or professional designation such as Chartered Financial Analyst (CFA) preferred. |
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EXAMPLES OF DUTIES AND RESPONSIBILITIES: Oversees day-to-day investment operations for both the pension and DC plans, ensuring accuracy, timeliness, and compliance. Manages the flow of data and reporting between custodians, consultants, investment managers, recordkeepers, actuaries and internal stakeholders. Supports the Director of Investments and investment team with materials for internal and external reporting, including Board of Investment Trustees meetings and Defined Contribution Investment Committee meetings. Coordinates the processing of contributions, benefit payments, capital calls, distributions, and rebalancing transactions. Supervise the preparation and reconciliation of investment accounting, cash movements, and performance reporting. Coordinates the review and implementation of plan documents, as well as contractual agreements with attorneys, investment managers and other service providers. Ensures proper handling of compliance monitoring, investment guidelines, and internal controls. Leads the operational due diligence process for new and existing investment managers and service providers. Oversees the integrity of demographic, contribution and deferral file interfaces between plan sponsors, custodians, and recordkeepers. Supports investment staff with portfolio monitoring, liquidity management, and risk reporting. Partners with defined contribution recordkeepers to ensure accurate participant account processing and operational effectiveness. Acts as the primary liaison with the custodian bank and external vendors on investment operations, settlements, and issue resolution. Leads the review and response to public information requests in accordance with the Maryland Public Information Act and the Freedom of Information Act. Develops, implements, and maintains policies, procedures, and best practices that strengthen operational efficiency and risk management. Supervises, evaluates, and provides oversight and mentorship to operations staff. Contributes to special projects as needed. Performs related duties consistent with the scope and intent of the position. |
