Investment Company Institute - Washington, DC

posted 4 months ago

Full-time - Senior
Remote - Washington, DC
Administrative and Support Services

About the position

The Investment Company Institute (ICI) is the leading association representing regulated investment funds, including mutual funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts (UITs) in the United States, as well as UCITS and similar funds offered to investors in Europe, Asia, and other jurisdictions. ICI's mission is to strengthen the foundation of the asset management industry for the ultimate benefit of the long-term individual investor. The Director of Operations and Distribution plays a crucial role in helping ICI members address product delivery through intermediaries for mutual funds, ETFs, collective investment trusts (CIT), and retail separately managed account (SMA) operations and service. This position reports to the Chief of Industry Operations and is responsible for advocating for members with lawmakers and regulators, promoting good operational practices by members and intermediaries for the benefit of shareholders. Essential functions of this role include coordinating committee activities assigned by management, which may involve front-office distribution (Sales & Marketing Committee and Internal Sales Managers' Roundtable), back-office distribution (Broker/Dealer Advisory (BDAC) and Bank, Trust, and Retirement Advisory (BTRAC) committees), and middle- and back-office (CIT Administration Subcommittee). The Director will convene related industry professionals to identify common distribution practices, operational challenges, and strategies to leverage wholesalers, distributors, intermediaries, and service providers in promoting the distribution of fund products through various intermediary channels. Additionally, the Director will support ICI and DTCC relationships regarding clearance, settlement, and transparency issues, maintaining constructive working relations between DTCC and ICI committee members. The role also involves working with members to modify DTCC systems and services and to develop new services as needed to meet business and compliance requirements for mutual funds, ETFs, CITs, and retail SMAs. The Director will promote committee engagement on ICI's ongoing priorities, as endorsed by ICI's Board of Governors, and will assist in planning, coordinating, and conducting committee meetings. This includes managing meeting logistics, preparing meeting materials and agendas, disseminating information to committee members, and coordinating follow-up items as necessary. The Director will engage stakeholders, technology, and service providers to benefit committee work and individual shareholders, and will document, draft, and publish related developments, including white papers and technical guides summarizing outputs of these groups for industry reference.

Responsibilities

  • Coordinate committee activities as assigned by management, including front-office and back-office distribution committees.
  • Convene industry professionals to identify common distribution practices and operational challenges.
  • Support ICI and DTCC relationship regarding clearance, settlement, and transparency issues.
  • Work with members to modify DTCC systems and develop new services as needed.
  • Promote committee engagement on ICI's ongoing priorities endorsed by the Board of Governors.
  • Plan, coordinate, and assist in conducting committee meetings, managing logistics and materials.
  • Engage stakeholders, technology, and service providers to benefit committee work and shareholders.
  • Document, draft, and publish related developments, including white papers and technical guides.
  • Develop and publish results of committee member surveys assessing industry trends and operational developments.
  • Coordinate with and support other Operations department committees in achieving goals.

Requirements

  • BA and a minimum of 10 years' experience in fund operations or equivalent education and experience.
  • Strong knowledge of fund distribution and servicing, transfer agent and recordkeeping functions, and related compliance requirements.
  • Established relationships across industry participants supporting fund distribution through intermediaries.
  • Management or supervisory experience of administrative and highly competent professional staff is a plus.
  • Knowledge of mutual fund structure, operation, and regulation; similar knowledge of ETFs, CITs, and retail SMAs is a plus.
  • Knowledge of mutual fund transfer agent operations/practices supporting fund investors.
  • Strong interpersonal skills to support ICI policy initiatives and priorities internally and externally.
  • Strong project management skills and ability to coordinate concurrent projects.
  • Excellent verbal and written communication skills.

Nice-to-haves

  • Strong knowledge of defined contribution plan structures and markets is a definite plus.
  • Understanding bank/trust and broker/dealer clearance and settlement processes for mutual fund, CIT, and/or retail SMA transactions.
  • Knowledge and understanding of DTCC Wealth Management Services, ACATS, and net settlement processes.

Benefits

  • Health insurance
  • Tuition reimbursement
  • Comprehensive medical plan
  • Generous 401(k) retirement savings plan
  • Paid leave
  • Commuting subsidies
  • Training and development opportunities
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