Chief Operating Officer Job Description Template

The chief operating officer runs everything that is not investing: operations, technology, finance, vendors, premises and often compliance and human resources. The role exists so the investment team can concentrate on markets, and it is judged on whether the firm runs quietly. It becomes most visible during a launch, a large redemption, a system migration or a regulatory examination, which is when the quality of the underlying infrastructure is exposed.

Typical Duties and Responsibilities

• Own the firm’s operating infrastructure across operations, technology and finance
• Manage relationships with prime brokers, administrators, auditors and custodians
• Lead the operational due diligence process with institutional investors
• Oversee budgeting, expense management and firm level financial reporting
• Ensure the control environment is documented, tested and defensible
• Lead technology strategy and major system selections
• Manage vendor contracts, service levels and business continuity planning
• Support fund launches, share class changes and structural work
• Build and lead the non investment staff of the firm
• Work with compliance on regulatory filings and examination readiness

Education

• Bachelor’s degree in finance, accounting, business or a related field

Required Skills and Experience

• 10+ years of operations experience in asset management, including leadership
• Command of fund structures, prime brokerage and administrator relationships
• Experience passing institutional operational due diligence
• Understanding of trade lifecycle, valuation policy and NAV production
• Ability to build process and controls in a small firm without over engineering them
• Strong vendor negotiation and management skills
• Judgment about which risks to spend money on
• Credibility with founders, investors and service providers

Preferred Qualifications

• CPA or MBA
• Experience through a fund launch or a significant asset raise