This role can be filled at the Director or AVP level.
Job Summary
The Director/AVP of Reconciliation Operations will build and lead a new investment operations team responsible for private credit processing, cash and holdings reconciliations, suspense resolution, and internal cash or asset transfers. This individual will establish the team’s operating model, processes, controls, and service standards while remaining actively involved in day-to-day operations.
The role will oversee the reconciliation of internal investment records to custody bank records; build control framework for non-custodied assets, investigate and resolve suspense items and other exceptions; coordinate investment-related payments and wire activity; and process internal asset and cash transfers. The Director/AVP will work closely with Treasury, Investment Accounting, investment teams, custodians, banks, agents, and administrators to ensure activity is processed accurately, efficiently, and in accordance with established controls.
Principal Duties and Responsibilities
Team Leadership and Operating Model
Build and lead a new team responsible for private credit processing, cash and holdings reconciliations, suspense resolution, wire activity, and internal transfers.
Define team responsibilities, end-to-end workflows, escalation protocols, service standards, and performance expectations.
Develop team members while fostering a culture of accountability, collaboration, client service, and continuous improvement.
Design and document scalable processes and controls to monitor transaction volumes, aging, exceptions, processing timeliness, and operational risk.
Identify opportunities to automate manual processes and improve the accuracy, efficiency, and transparency of operational workflows.
Private Credit Processing, Payments, and Transfers
Oversee the processing and validation of non-scheduled cash activity and activity related to non-custodied assets, including fundings, principal and interest payments, paydowns, fees, PIK activity, and other investment-related cash flows.
Coordinate investment-related payments and internal wire requests, ensuring each request is properly supported, authorized, processed, and documented.
Manage internal asset and cash transfers between investment portfolios and ensure activity is accurately reflected across internal and external records.
Ensure private credit position and transaction activity is processed completely, accurately, and within established timeframes.
Reconciliation and Exception Management
Oversee cash and holdings reconciliations between internal investment records and custody banks.
Ensure reconciliation breaks are researched, documented, escalated, and resolved within established timeframes.
Lead the investigation and clearance of suspense items, unidentified cash, rejected transactions, and other operational exceptions.
Partner with custodians, banks, agents, administrators, and internal teams to determine root causes and resolve discrepancies.
Establish controls and reporting for aged, material, or recurring exceptions.
Perform root-cause analysis and implement preventive controls and corrective actions.
Cross-Functional Partnership and Controls
Serve as the primary reconciliation liaison among Treasury, Investment Accounting, investment teams, custodians, and banking partners.
Coordinate with Investment Accounting to ensure transactions, positions, and cash activity are recorded completely and accurately.
Maintain clear documentation and audit trails for payments, reconciliations, transfers, exceptions, and approvals.
Ensure processes comply with internal policies, segregation-of-duties requirements, and applicable control standards.
Support internal and external audits, control reviews, and other governance activities.
Escalate material cash, position, custody, or processing issues promptly and drive them through resolution.
Perform other duties as assigned
Knowledge, Skills and Abilities
Bachelor’s degree in…