Management Associate, Endowment & Foundation; E&F

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Full Time Exempt Philadelphia, PA, US

10 days ago Requisition

For more than 65 years, Glenmede’s independent ownership, innovation and unwavering commitment to our clients have made us a trusted partner for private wealth, endowment & foundation, and investment management clients.

Our people are invaluable. Through a team-oriented environment, your knowledge, expertise and varied backgrounds contribute to thoughtful innovation. Our culture foster opportunities for continuous career growth and development in all areas of the organization. Working at Glenmede, you will experience the infrastructure and resources of a large firm combined with the client and employee focus of an independently owned boutique.

Every endowment and foundation has a distinct set of values and a defining mission. As a long-standing partner, we share in those values, fully align with your vision and work as one to bring you innovative investment and advisory solutions. With the same goals in mind, we will work together to help position your assets for growth and support your organization to deliver on its commitments.

This position will operate in a hybrid work environment, 3 days per week in the office (Philadelphia, PA).

OVERVIEW:

The primary function of the Endowment & Foundation (E&F) Management Associate is to support E&F Relationship Managers in day-to-day nonprofit client contact, including but not limited to relationship management, private foundation management support, donor-advised fund administration, account administration, and other functions as required, in order to maintain excellent relationships with clients, foundation trustees, donor-advised fund holders, external professional advisors and internal team members.

RESPONSIBILITIES:

Advisory Support and Account Administration

• Support relationship managers in the administration of investment management accounts for private and family foundations, endowments, donor-advised funds, and other tax-exempt entities. Duties may include daily transaction processing such as securities transfers, cash and check requests, gifts, grants processing and administration, deposits, routine to moderately complex client information requests and maintenance of client records.
• Become a subject matter expert on all aspects of basic administrative duties essential to the management of client accounts and demonstrate the ability to perform these duties with minimal oversight.
• Assist with account opening, asset transfer, funding reconciliations, account maintenance, account terminations, and administration of special assets including partnership interests and promissory notes.
• Provide specialized back-office support for private foundation clients, including grants management, processing and tracking of grant recommendations, preparation of trustee and board meeting materials, maintenance of custom client reports, and coordination of annual tax filings with external tax preparers.
• Support the Glenmede donor-advised fund program, including fund establishment, contribution and grant processing, fund holder inquiries, and maintenance of fund records and reporting.
• Support clients with annual audit requests.
• Develop foundational knowledge of charitable tax and fiduciary matters relevant to foundation management and donor-advised fund administration, including private foundation minimum distribution and excise tax requirements and donor-advised fund grantmaking guidelines.
• Be a power-user of client support technology systems, including the client relationship management system and the system of record for client transactions.
• Manage incoming and outgoing communications, including preparing correspondence and managing document retention.

Client Service and Manager Support

• Act as an initial point of contact for client, foundation trustee, and donor-advised fund holder inquiries and team communications.
• Respond to client requests or proactively identify potential issues in the normal course of business, undertake research or take needed action to resolve (with guidance from senior officers where appropriate) and keep all relevant parties informed.
• Serve as direct back-up to other team/office support professionals to provide team-based coverage.
• Coordinate client meetings and events, including scheduling, dining arrangements, and other related activities.
• Prepare client and prospect meeting materials; assist with the preparation of presentation materials.

Firm Building

• Assist and train other team and office support professionals as needed, sharing process knowledge to strengthen team-based coverage.
• Active engagement in department-specific and firm-wide initiatives in order to expand capabilities, create solutions to unmet…