Operations Manager - Fund Expenses

Why Great Gray?

At Great Gray Trust Company, we strive to set the bar for the retirement services industry. Our goal is to deliver advanced retirement solutions that combine our core fiduciary services with robust investment options, innovative technology, and dedicated client service. We focus on making choices clearer, transitions smoother, and the client experience more delightful. Complacency isn't in our vocabulary. Every day, we look for opportunities to better serve our clients, be an excellent business partner, and earn the trust of those who rely on us.

Company Background

Great Gray Trust Company is the leading independent provider of trustee and administrative services to Collective Investment Trusts ("CITs"), with over $185 billion in CIT assets, across more than 700 funds. We proudly work with 75 subadvisors, including leading firms such as Alliance Bernstein, American Funds, BlackRock, Franklin Templeton, MetLife, Neuberger Berman, PGIM, PIMCO and Raymond James.

CITs are more than just an investment vehicle. They represent a forward-thinking approach to retirement planning. These tax-exempt, pooled investment vehicles are offered to employer-sponsored retirement plans, like 401(k)s. CITs are comparable to mutual funds, but, because they are tailored for the institutional retirement market, they can offer distinct advantages, including efficient administration and cost-effectiveness. CITs have a history dating back over 90 years, but they have gained favor over the past decade, driven by innovations, and Great Gray has been at the forefront.

Great Gray has consistently delivered year-over-year growth at an above market rate and is investing in the continued development of its core CIT business as well as complementary administrative services and technology solutions for the retirement market.

Madison Dearborn Partners ("MDP") purchased Great Gray from Wilmington Trust in April 2023. As a result, Great Gray is an independent company owned by funds affiliated with MDP.

Investor Background

MDP is a leading private equity investment firm based in Chicago. Since MDP's formation in 1992, the firm has raised aggregate capital of over $28 billion and has completed over 150 platform investments. MDP invests across five dedicated industry verticals, including basic industries; business and government software and services; financial and transaction services; health care; and telecom, media, and technology services.

The Role

Responsible for leading an operational team performing daily activities associated with the oversight of Great Gray collective investment funds.

Fund Oversight Team: The Fund Oversight Team is responsible for overseeing a wide array of operational and analytical tasks to ensure the accurate calculation and reporting of net asset values. These tasks include oversight of collective investment fund NAVs, expenses and fund of fund trading. This role will be responsible for the management of a team performing oversight on fund expenses.

Responsibilities

• Oversight of the day-to-day operational functions for the team to ensure activities are performed timely and accurately. This includes oversight of service providers and ensuring proper management of vendor service levels and expense
• Oversee the completion of operational activities associated with new fund launches, mergers, liquidations, fund terminations and other product initiatives to ensure alignment with the timelines and goals of the internal and external stakeholders
• Identification and implementation of the proper level of internal and external reporting for area of responsibility, including key performance metrics, key risk indicator reporting and service level agreement reporting for key vendors
• Communicate across multiple internal teams, service providers, sub-advisors and other external parties to resolve open issues and questions, resolve production issues or handle general support inquiries. May lead discussions to represent area of responsibility
• Identify opportunities for process improvement and operational efficiency. Ensure development and implementation of workflow efficiencies that enhance productivity and reduce costs
• Lead, mentor, and develop a high-performing operational team for area of responsibility, fostering a culture of excellence, accountability and continuous improvement
• All Great Gray employees are responsible for the identification, assessment and control of risks and risk events. Employees will maintain an understanding of applicable policies, procedures, risk appetites and tolerance relevant to their function and operational unit, and are expected to consider current and potential risks when making or informing business decisions. Employees are responsible for the accurate and timely escalation and recording of incidents associated to relevant risks. Managers will reinforce these principles with their team
• Other duties as assigned

Qualifications & Experience

• Bachelor's degree in accounting, finance, or business and 5 years' experience in the financial services industry, preferably fund administration, or in lieu of a degree, a combined minimum of 9 years' higher education and/or relevant work experience
• Minimum of 2 years' supervisor or manager level experience
• Intermediate computer skills including familiarity with Microsoft products
• Ability to thrive in a fast-paced, dynamic environment and manage multiple priorities effectively.
• Comfortable navigating ambiguity.
• Entrepreneurial mindset to bring best practice ideas to the team.
• Exhibits our Great Gray attributes: Results-Driven, Innovative, Resilient, and Decisive.

Location

The preference is to have this position based in one of our office locations in Wilmington, DE. Great Gray currently supports a hybrid work model with 4 days onsite and 1 day remote.

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