Founded in 1992, Cerberus is a global leader in alternative investing with approximately $65 billion in assets under management across complementary credit, private equity, and real estate strategies. We invest across the capital structure where our integrated investment platforms and proprietary operating capabilities create an edge to improve performance and drive long-term value. Our tenured teams have experience working collaboratively across asset classes, sectors, and geographies to seek strong risk-adjusted returns for our investors. For more information about our people and platforms, visit us at www.cerberus.com.
What is Investment Operations?
The Investment Operations team provides trade and operational support to over 40 different Lines of Business. We create significant value across the Firm’s investment strategies and infrastructure functions by providing data analysis, reporting, and developing solutions to complex operational hurdles to allow the business to achieve its goals. We adapt to dynamic business requirements by combining product expertise, technology, and a flexible, data-driven approach.
The Cash Reconciliation team plays a critical role within the broader Investment Operations framework, ensuring the accuracy and integrity of the firm’s cash activities. Their primary responsibilities include reconciling book-side and bank-side cash transactions, monitoring cash balances to maintain liquidity, and promptly resolving discrepancies that may arise from timing differences, data entry errors, or other issues. By leveraging advanced technology and data-driven methods, the team enhances efficiency, reduces manual effort, and minimizes the risk of human error. Their work directly supports operational accuracy, ensuring reliable financial reporting and informed investment decisions.
Responsibilities and Deliverables:
- Primary owner of the firm’s cash reconciliation platform (Intellimatch), ensuring that all book-side and bank-side cash activity reconciles every day. Work closely with the rest of the Investment Ops team to understand deal/trading activity and resolve breaks.
- Assist teams with cash clearing responsibilities. Learning each team’s operational procedures front to back and applying this to the cash reconciliation seat.
- Develop match rules to automatically clear cash breaks, enhancing the efficiency of the reconciliation process.
- Oversee cash balance dashboards to identify and address any material differences between book and actual cash balances.
- Ensure accuracy and completeness of incoming cash feeds and verify that all accounts are in proof. Resolve issues with counterparties as needed.
- Liaise with fund administrators on parallel cash and position reconciliation for consistency and accuracy.
- Oversee Offshore cash and position reconciliation efforts, managing all aspects from team onboarding and training to supervising daily operational responsibilities. Actively contribute to the development and integration of the Offshore buildout, ensuring processes are aligned with Investment Operations team goals and fostering seamless collaboration between New York and offshore teams.
- Maintain and update logic related to the assignment of cash breaks to specific teams.
- Take ownership of various ad-hoc projects aimed at improving and automating current processes within the cash reconciliation function.
- Ad-Hoc project Ownership.
- Monitor daily/weekly/monthly checks and assist in development of new checks to manage operational risk.
Key Requirements:
- Approximately 4-6 years of experience in a related middle or back-office role.
- B.S. or Master’s degree in finance, accounting, economics, or a related field.
- Technical skills: MS Excel, other MS Office programs. Familiarity with Intellimatch (or similar cash reconciliation system) and Electra cash feeds.
- Strong desire to learn new skills and grow professionally.
- Self-motivated and proactive attitude towards work assignments and challenges.
- Willingness to take on additional responsibilities and tasks as needed.
- Team player who can collaborate effectively with other and contribute to a positive work environment.
- Useful technical skills: programming languages (Python, VBA, SQL), Visual Portfolio Manager, Wall Street Office.
The base salary for this position is expected to be between $80,000.00 and $100,000.00. The base salary offered to the chosen candidate will be commensurate with a candidate’s relevant experience and other qualifications for the position, as determined by the Company in its sole discretion. In addition to base salary, this position is eligible for an annual discretionary bonus[, which is often a meaningful portion of the compensation package,] and a robust benefits package.
