Vice President, Middle Office - Reporting

William Blair • Full-time • Chicago, IL, US • $175k - $250k / year • 5d ago

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Investors rely on William Blair Private Wealth Management to activate their capital with purpose and precision. Our wealth advisors and their teams do this by delivering thoughtfully constructed, integrated wealth planning and by providing access to compelling investment opportunities. As one of the last true global partnerships in the investment industry, William Blair combines the world-class investment resources of a full-service global firm and the high-touch service, stability, and culture of an independent boutique. This model empowers us to be singularly focused on our clients’ success across market cycles and across generations. The firm has been a well-respected provider of private wealth management since 1935 and has won several awards from Barron’s and Forbes for best wealth advisors and wealth advisor teams.

William Blair Private Wealth Management is seeking a Vice President, Middle Office - Reporting to play a critical role in the development and execution of strategic plans for middle office operations. This position will be responsible for leading and managing employees who perform middle office roles including those in billing, client reporting, merchant banking, and alternative investments. The qualified candidate will lead the strategy efforts of these teams and spearhead implementation efforts, work closely with human resources to determine staffing needs and administer human resources policies, including hiring, compensation, performance reviews and training, and establish and maintain cross-functional relationships to promote collaboration in performing work and resolving issues. In conjunction with the Managing Director of Private Wealth Management Operations & Risk Management, this individual will develop strategic plans for the middle office function and oversee their implementation, identify, scope, plan, and execute strategic projects while applying their deep industry and systems expertise to identify opportunities for improvement, enhance system functionality and revise work processes. This person will also act as a coach and mentor for their teams and create a culture of continued learning.

Responsibilities Include But May Not Be Limited To

Lead and manage employees who perform middle office operations in billing, client reporting, merchant banking and alternative investments. Ensure that operations are aligned with strategic objectives and that key processes are executed efficiently.
Lead strategy discussions related to processes and integrations to ensure maximum client service is being achieved. Work closely with front office management to understand pain points and areas for improvement.
Manage and oversee the strategic expansion of Private Wealth Management's alternative investment strategies function.
Lead the alternative investments oversight process to ensure transactions are reflected accurately in official books and records. Ensure records are aligned and consistent with reporting. Partner with Legal & Compliance teams when needed to ensure proper documentation and compliance.
Manage the operations due diligence process for potential new alternative investments and actively participate in operations due diligence meetings.
Oversee the operational due diligence process for new alternative investments, including private equity, venture capital, real estate, credit, real assets, and other alternative investments. Actively participate in due diligence meetings and ensure proper implementation of investment processes.
Ensure that operations for alternative investments comply with relevant regulations and risk management policies. Regularly review and update internal procedures to ensure compliance with industry standards and firm-wide risk controls.
Review escalated issues, understand the strategy for a go-forward plan, and provide approvals for the resolution.
Establish and maintain vendor relationships. Review service level agreements and determine if vendors are providing services consistent with agreed upon contract terms. Work with vendors to resolve issues.
Determine staffing needs and administer human resources policies, including hiring, compensation, performance reviews, and training. Build and maintain high-performing teams within Middle Office.
Partner with senior leadership to develop and execute strategic plans for the alternative investments function. Identify opportunities for improvement and drive projects that enhance operational efficiency and reporting within this area.
Establish and maintain cross-functional relationships to promote collaboration in performing work and resolving issues. Work closely with front office and infrastructure staff to create a shared understanding of business needs, challenges, and strategies.
Assist in the development of strategic short-term and long-term plans for the middle office function and oversee their implementation. Identify, scope, plan and execute strategic projects.
Apply deep industry and systems expertise to identify opportunities for improvement, enhance system functionality and revise work processes.
Oversee middle office operations compliance by implementing policy and procedures that fulfill regulatory requirements. Ensure that staff is adequately and regularly trained on relevant regulatory policies and procedures. Ensure middle office workflow activities follow established risk controls and are in compliance with applicable rules, regulations, policies and procedures.
Represent William Blair by interfacing with external entities such as FINRA, etc., ensuring the teams' operations meet all regulatory and compliance expectations.
Additional responsibilities as requested.

Qualifications

Bachelor's degree in finance or related subject matter required; MBA preferred.
A minimum of 12 years of relevant experience in investment banking and/or private markets investing required.
SIE Exam, Series 7, 9, 10, 63/65 (or 66) must be acquired within 180 days of employment.
Advanced ability to effectively lead a team in executing workflows and projects.
Excellent project management and prioritization skills.
Advanced ability to collaborate across multiple functions.
Advanced attention to detail and quality.
Advanced knowledge of trading operations.
Highly customer service oriented.
Excellent written and verbal communication skills.
Excellent problem resolution skills.

A reasonable estimate of the current base salary range at time of posting is below. Base salary does not include other forms of compensation or benefits. Actual base salary within the specified range is based on several factors, including but not limited to applicant's skills, prior relevant experience, specific degrees and certifications, job responsibilities, market considerations and, if applicable, the location of the position.

This role is eligible for either a discretionary annual bonus (based on company, business unit and individual performance) and/or commission-based incentives.

Our featured benefit offerings include medical, dental and vision coverage, employer paid short & long-term disability and life insurance, 401(k), profit sharing, paid time off, Maven family & fertility benefit, parental leave (including adoption, surrogacy, and foster placement), as well as other voluntary benefits.

Salary Range

$175,000—$250,000 USD

William Blair is an equal opportunity employer. It complies with all laws and regulations that prohibit discrimination in employment practice because of race, color, religion, creed, ancestry, marital status, gender, age, national origin, sexual orientation, unfavorable discharge from the military service or on the basis of a physical or mental disability that is unrelated to the employee's ability to perform the duties of the job applied for. EOE m/f/d/v

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