Managing Director of Operations

Penn State University

University Park Campus
Campus City:
University Park, PA
Date Announced:
Date Closing:
open until filled
Job Number:
Work Unit:
Finance and Business
Investment Management
Full/Part Time:


The Pennsylvania State University seeks a proven leader to report directly to the Chief Investment Officer and participate in managing the Office of Investment (OIM) operations functions for a $4.5 billion Long Term Investment Pool, as well as other university investment assets. This role requires the ability to analyze and synthesize data, exercise independent judgment, build relationships, and create high quality deliverables. The Managing Director of Operations (MDO) will manage all operational responsibilities and develop best practices related to all operational functions of OIM. The Managing Director of Operations will manage the day-to-day interactions with the custodian bank as it relates to the structure of the investment accounts, ongoing flows between accounts, and performance measurement of the accounts. The position will also coordinate the preparation of standard and ad hoc financial reports and investment materials, work closely with all OIM team members and colleagues across the broader Finance & Business organization, and foster relationships with the operations and back office teams of current and prospective investment managers. This position will continue the refinement of investment policies, procedures, and the knowledge management process and support on-boarding of new managers to ensure they are accurately included in all internal systems while also supporting the valuation of investment portfolios and the audit process. The Managing Director of Operations will also perform some operational due diligence reviews with external investment managers which involves visiting external managers in their offices and conducting face-to-face discussions intended to uncover potential risks within their investment support functions that could lead to investment and/or reputational risk. The position will serve as liaison with the PSU’s Information Technology and Risk Management groups to help ensure the Business Continuity and Disaster Recovery Plans and will interact with legal counsel to review and complete investment contracts. Applicants for this position should demonstrate success in thinking both strategically and analytically, implementing change, and functioning effectively as a team member. The ideal candidate will be curious, well organized, self-motivated, and have a meticulous attention to detail, be able to partner with other subject matter experts and business leaders, exhibit confidence and ability to communicate with all levels of management, and have proven experience in coaching and mentoring team members to understand and execute best-in-class investment operational procedures. An ideal candidate will have a track record of producing high quality deliverables in a dynamic environment on tight deadlines. Experience leading the reporting, operations or compliance function at a $2+ billion plus Endowment, Foundation, Pension or Family Office is highly preferred. This position requires a bachelor’s degree, while a master’s degree in accounting or business is preferred. CFA, CPA, CAIA, or CIPM certificates/licenses is desirable along with a minimum of ten (10) years of experience in an investment or finance function. This position is located at The Pennsylvania State University, University Park campus in State College, Pennsylvania. This college town isn’t just for college students – State College is a bustling community with something for everyone. Penn State is Pennsylvania’s sole land-grant institution with a strong focus on access and affordability, cutting-edge research, and making a difference and impact in the community, the Commonwealth, and the world. With an annual budget of $6.5 billion, Penn State is one university geographically dispersed across 24 campuses throughout the Commonwealth of Pennsylvania and online, comprising 100,000 undergraduate and graduate students, and 45,000 full- and part-time faculty, staff, and technical service employees. A leading public research university, Penn State’s research expenditures exceeded $900 million in 2018, while its academic health center and system – Penn State Health – serves more than 2.8 million residents. As a member of the Investment Management Office, you will be joining a team of individuals who have the ambition to help Penn State succeed. Workforce diversity, cultural inclusiveness, and employment equity are deeply rooted in Penn State`s historic mission. Just as we are committed to being a diverse educational environment, we are also committed to being a diverse working community. As a community, we endeavor to be a mixture of cultural backgrounds, life experiences, and individual perspectives that add variety and vitality to the workplace. The University believes that we can learn from each other’s differences and break down the barriers that separate us. Penn State is a place where everyone can be themselves, together.

These salary bands have been established to provide salary guidelines for staff positions.

Salary Band Minimum Midpoint Maximum
A $16,584 $24,456 $32,328
B $18,240 $26,904 $35,556
C $19,728 $29,592 $39,456
D $21,708 $32,568 $43,416
E $24,312 $36,468 $48,612
F $27,228 $40,848 $54,456
G $30,012 $45,744 $61,500
H $34,188 $52,140 $70,080
I $38,988 $59,424 $79,908
J $43,716 $67,740 $91,812
K $50,712 $78,600 $106,488
L $58,836 $91,176 $123,528
M $68,232 $105,756 $143,292
N $80,508 $124,788 $169,068
O $93,492 $147,252 $201,024
P $110,340 $173,760 $237,192
Q $126,396 $199,056 $271,728
R $151,668 $238,872 $326,088