Operational Due Diligence Specialist

MISSION: The Texas Education Agency (TEA) will improve outcomes for all public-school students in the state by providing leadership, guidance, and support to school systems.

POSITION OVERVIEW: This position reports to the Director of Operational Due Diligence of the Texas Permanent School Fund (TPSF), a $34B public fund endowment. Provides highly complex financial analysis, risk assessment, and operational due diligence work related to underwriting third party investment managers and PSF service providers. Responsibilities will include implementing and executing tailored, ongoing risk assessment and mitigation plans; monitoring third party advisors; and participating in the investment selection process.

A successful employee must be honest and ethical in all work, recognize the requirements of confidentiality, and be intellectually curious about business internal controls and best practices in the financial industry.

The professional selected for this position will work under limited supervision, with considerable latitude for the use of initiative and independent judgment; and is expected to help the PSF meet its performance goals and support the Texas Education Agency in fulfilling its strategic priorities.

Applicants who are strongly being considered for employment must submit to a national criminal history background check.

Please note that a resume and tailored cover letter are required attachments for applying to this position. Incomplete applications will not be considered.

Relocation assistance is not available for this position.

A skill-based exercise may be administered at the time of interview.

ESSENTIAL FUNCTIONS:

• Participate in a team effort to catalogue and evaluate the operational control structure of investment management and major service provider firms that are utilized by the TPSF.
• Evaluate the people, systems and third-party service providers such as administrators, accounting firms, consultants and information technology providers. Document on-site fieldwork and interview process. Compile results in written recommendations.
• Analyze financial statements, correspondence, and regulatory filings as part of operational due diligence reviews of investment managers and TPSF service providers, and document findings.
• Analyze the existing operational infrastructure at investment managers and TPSF service providers. Compare the infrastructure and internal control environment to industry standards and best practices and make recommendations to mitigate risks identified. Incorporate market and news media intelligence into the analytic process.
• Document the process, procedures and outcomes of all operational due diligence efforts.
• Maintain good working relationships with appropriate industry contacts, fund managers and internal and external stakeholders.
• Perform other related work and duties as assigned.

Qualifications

MINIMUM QUALIFICATIONS:

Education: Graduated from an accredited four-year college or university with major course work in business administration, accounting, auditing, finance, or related field is required.

Experience: At least three years’ experience evaluating internal control environments and performing operational risk management preferably of investment management organizations. Operational audit experience a plus. Prefer experience with hedge fund investments, fund administrators, auditing firms, or dedicated due diligence firms.

OTHER QUALIFICATIONS:

• A working and applied knowledge of securities markets, corporate financial statements, and macroeconomics is required.
• Specific knowledge of the hedge fund, private equity and real estate investment industries is a plus.
• Strong understanding of risk frameworks and evidence of practical experience in interviewing, analysis and documentation of operational risks.
• Understanding of operational processes within financial institutions, of current cyber-security risks and knowledge of investment strategies and instruments.
• Excellent writing and listening skills with a proven ability to disseminate information effectively and articulate thoughts in a clear and concise manner to staff and various governing bodies through written correspondence, presentations and/or meetings
• Ability to employ strategic interview techniques.
• PC experience with financial databases and software applications to include intermediate Excel, Word and PowerPoint skills.
• Skill in financial statement analysis, analytics and in the use of computer software programs, particularly advanced Word, Excel and PowerPoint skills.
• Flexible, organized and able to handle multiple and shifting priorities while ensuring attention to detail; uses sound, independent judgment to make decisions.
• Able to communicate clearly and effectively, both verbally and in writing, including writing management reports and making public presentations.
• Strong customer-service mindset and the ability to communicate to a diverse group of internal and external customers.
• Maintains effective and professional relationships with a diverse group of internal and external staff.
• Exhibits a strong work ethic, is reliable, and works effectively and collaboratively as part of a team.
• Possesses a desire to self-reflect, give/receive feedback and continuously improve.
• Willing to fill a need, solve a problem, anticipates risks, and demonstrate initiative to strategically advance efforts of the PSF.
• Acts in accordance with the Chartered Financial Analyst Institute code of ethics and standards of professional conduct and in accordance with the standards established by the Texas Ethics Commission for state employees.
• Must be able and willing to travel both domestically and internationally.
  
  

As an equal opportunity employer, we hire without consideration to race, religion, color, national origin, age, sex, disability, or veteran status, unless an applicant is entitled to the veteran’s preference.

Additional Military Crosswalk (occupational specialty code) information can be accessed here.

This position requires the applicant to meet Agency standards and criteria which may include passing a pre-employment criminal background check, prior to being offered employment by the Agency.

No phone calls or emails, please. Due to the high volume of applications, we do not accept telephone calls and cannot reply to all email inquiries. Only candidates selected for interview will be contacted.