Investment Analyst – Investment Operations

Internal applicants must apply by 11/13/2026

OVERVIEW

It is the mission of the Investment Department to optimize the total return of the IMRF investment portfolio through a policy of long-term diversified investment, using parameters of prudent risk management.

This position reports to the Managing Investment Officer II – Diversity Programs and Total Portfolio.

ESSENTIAL DUTIES AND RESPONSIBILITIES

The Investment Analyst will be an integral member of the Investment team for a total global investment portfolio with assets in excess of $65 billion. The individual will be responsible for leading the operations of the Investment department and will work independently and as part of a team to plan, prioritize, and execute these responsibilities. The Investment Analyst will serve as the Investment Department’s subject matter expert on investment operations, exercising sound judgment in resolving operational issues.

The Investment Analyst will utilize Excel, Access, PowerPoint, Northern Trust Passport, Hamilton Lane Cobalt and other tools to assist the Chief Investment Officer and investment team in operating the investment portfolio. This position is also responsible for special projects as assigned. This position will have contact with the CIO, Investment staff, consultants, custodian/master trustee, investment managers, broker-dealers and other investment professionals.

Investment

Operations and Portfolio Accounting

• Execute the processes of account openings, closings, and new market setups; prepare documentation for account openings/closings, Auto FX, Push/Pull, Auto Sweep, Capital Call Execution, and standing letters of instruction.
• Lead the update and maintenance of wire instructions in NT Passport, complete documentation requiring wire instructions, and execute callback procedures.
• Serve as a back-up for cash flow reconciliation; assist with cash flow projections and liquidity forecasts.
• Research and resolve settlement and cash discrepancies with the custodian and counter parties.
• Lead the process to ensure payments are made to investment service providers via NT Passport or Doc Link.
• Lead the process to complete and execute international tax documents and trading licenses.
• Lead the monthly and annual security reconciliations and prepare the Securities Reconciliation Report, working in conjunction with the Finance department, Master Trustee and Investment Managers.
• Lead the reconciliation process of private market composite accounts and reconciliation of Hamilton Lane Cobalt data against custodian and investment manager records.
• Support the valuation process for private market assets.
• Lead the onboarding and offboarding of new public and private market investment managers/accounts.
• Track investment manager allocations and approved commitments.
• Collaborate with the Public Markets team to process the payment of investment manager fees via NT Passport and update worksheets; budget investment manager fees and collect underlying investment manager fees from IMRF’s fund of funds and manager of managers.
• Serve as a back-up on the legal bid process.

Policies, Procedures and Internal Controls

• Lead the creation of operational procedures and process documentation supporting the department’s investment operations, systems, and internal controls; ensure documentation remains current as processes change.
• Identify, recommend, and lead process improvement and automation initiatives to enhance scalability, data integrity, and control effectiveness.
• Implement best operational practices in a high-performance culture.
• Lead the review and update of the Disaster Recovery Plan and Fraud Matrix.
• Lead and execute the quarterly KPI process for external service providers.
• Serve as the point of contact to provide information for the…