HedgeMark (“HM”) specializes in supporting institutional clients in the development and operation of their own private hedge fund dedicated managed account platforms (“DMA”). HM supports clients in formation and structuring of their private vehicles, negotiating fund documents and counterparty agreements, and project managing each fund’s launch. Post-launch, HM provides risk and performance reporting, transparency and investment guideline monitoring to the client. HM is also responsible for performing operational and accounting functions which provide independent oversight and controls to the process.
The HedgeMark Operations Team is responsible for the following functions:
- Understand the account structure and investment strategy for funds covered.
- Participate in pre-launch calls and gather and populate fund and investment manager data for new fund launches.
- Set-up ISDA and Repo collateral terms in HedgeMark’s internal system.
- Setup cash instruction templates and execute cash wires, with strict application of cash control procedures in all cash-related responsibilities.
- Monitoring daily clearing broker cash and margin balances in accordance with margin rules established with each client. Liaise with prime broker, futures broker or cleared swaps counterparties to resolve any discrepancy or reporting questions, and execute wires to post collateral or call back excess collateral.
- Perform daily OTC collateral management function, including reviewing system calculation, issuing and responding to collateral calls, managing and researching disputes, and moving cash or non-cash collateral.
- Calculation, confirmation and instruction of cash movements for OTC Trades, including premium settlement and swap resets.
- Perform daily reconciliations between the Administrator and Counterparties, as well as between Administrator and Investment Manager
- Review valuations for final Net Asset Value calculations to ensure the Administrator has valued instruments in accordance with each client’s valuation policy.
- Respond to email queries from clients, investment managers, administrators and counterparties in a timely manner.
- Perform project work to support internal and external needs.
- Work with internal HM-Operations system and provide input and suggestions for enhancements; perform system testing for new releases.
The HM Operations team works closely with the HM Fund Accounting team for daily and monthly deliverables. The HM Fund Accounting team is responsible for reviewing and approving the Administrator’s net asset valuation, and will review and discuss the final reconciliation and valuation review performed by the operations analyst. The HM Fund Accounting team is also responsible for reviewing and processing invoices and for managing the annual audit process. Each fund / client will have primary and backup HM Operations and Fund Accounting analysts who will work together to understand the particulars to the fund and to service the client.
The HM DMA Operations Manager is responsible for the following functions:
- Work closely and act as a partner with the HM Poland DMA Fund Accounting Manager in terms of resource allocation and planning, policies and procedures implementations, work oversight and client support. The Poland Operations Manager will report to HedgeMark’s Head of Operations, who is located in New York. The Poland teams will work closely with the HM New York and India teams to manage daily and monthly deliverables.
- Manage relationships with a broad set of clients and resolve any unique escalated issues related to operations responsibilities.
- Recruit, direct, motivate and develop junior and senior operations staff, maximizing their individual contribution, their professional growth and their ability to function effectively with their colleagues in a team environment.
- Provide guidance to the team to ensure that records are maintained in accordance with departmental policies and procedures. Resolve complex issues escalated by team members.
- Responsible for financial and human resources for the unit and ensure assigned teams are operating effectively to meet unit goals and objectives.
Qualifications
- The candidate must have knowledge of and experience with hedge funds operations, with various investment strategies, and with many instrument types including equities, fixed income, foreign exchange, interest rate swaps, credit default swaps, OTC options and structured products.
- The candidate should understand the trade life cycle for listed and OTC instruments, the role and reporting of a prime broker, and the responsibilities of a fund administrator.
- The candidate must be highly proficient with PC applications (Excel and Word) and have working knowledge of Bloomberg. The candidate must possess strong analytical and verbal communication skills and be able to work independently and under significant pressure while adhering to constantly changing strict deadlines.
- The candidate must be extremely detailed and control-oriented with a very strong understanding of the risks of our business, in addition to having excellent interpersonal skills in order to effectively partner with employees that do not report to him/her and to deal effectively with other internal groups and external clients.
- The candidate must have the flexibility and ability to manage in a constantly changing environment, with updates to procedures, technology, client and funds. The candidate must be able to manage complexity and help the team prioritize deliverables in order to meet deadlines.
- 5-10 years of total work experience and at least 1-3 years in management preferred.
