Director, Operations

2 months ago

Washington, United States Investment Company Institute Full time
Job DescriptionJob Description

The Investment Company Institute (ICI) is the leading association representing regulated investment funds, including mutual funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts (UITs) in the United States, and UCITS and similar funds offered to investors in Europe, Asia, and other jurisdictions. ICI also represents its members on issues involving the capital markets, separately managed accounts (SMAs) and collective investment trusts (CITs). ICI’s mission is to strengthen the foundation of the asset management industry for the ultimate benefit of the long-term individual investor.

Reporting to the Chief of Industry Operations, the Director of Operations and Distribution help’s ICI members address product delivery through intermediaries for mutual fund, exchange-traded funds (ETFs), collective investment trust (CIT) and retail separately managed account (SMA) operations and service. The Director of Operations and Distribution supports ICI’s standing, advisory, and on-demand committees and working groups, advocating for members with lawmakers and regulators, and promoting good operational practices by members and intermediaries for the benefit of shareholders.

Essential functions of this role include:

  • Coordinates committee activities as assigned by management, which may include front-office distribution (Sales & Marketing Committee and Internal Sales Managers’ Roundtable), back-office distribution (Broker/Dealer Advisory (BDAC) and Bank, Trust, and Retirement Advisory (BTRAC) committees), and middle- and back-office (CIT Administration Subcommittee).
    1. Convene related industry professionals to identify common distribution practices, operational challenges, and strategies to best leverage wholesalers, distributors, intermediaries, and service providers, as applicable in promoting distribution of fund products through various intermediary channels.
    2. Support ICI and DTCC relationship regarding clearance, settlement, and transparency issues, and maintain constructive working relations between DTCC and ICI committee members.
    3. Work with members to modify DTCC systems and services and to develop new services as needed to meet business and compliance requirements for mutual funds, ETFs, CITs, and retail SMAs.
    4. Promote committee engagement on ICI’s ongoing priorities, as endorsed by ICI’s Board of Governors.
    5. In conjunction with committee chair, plan, coordinate, and assist in conducting committee meetings.
    6. Manage meeting logistics; meeting material and agenda preparation; disseminate information to committee members as appropriate; coordinate meeting follow up items as necessary.
    7. Engage stakeholders, technology, and service providers to benefit committee work and individual shareholders.
    8. Coordinate committee Working Groups and Task Force meetings as needed. Document, draft, and publish and related developments. White paper and technical guides summarizing outputs of these groups for industry reference.
    9. Develop and publish to participants the results of committee member surveys that assess industry trends, operational developments and/or market practices.

  • Coordinates with and supports other Operations department committees in attaining department and Institute goals.

  • Participates in cross-departmental initiatives and projects addressing distribution related operations issues, such as intermediary oversight, and saving for retirement.
    1. Provide input to Government Affairs staff on operational aspects of ICI legislative priorities.
    2. Assist Law Department staff during analysis and (if needed) implementation of legislative and regulatory proposals.
    3. Coordinate with Research Department staff on various programs and projects.
    4. Lead development of industry consensus and response on fund distribution-related proposals, including support of Strategic Communications staff in response to media inquiries.
    5. Collaborate with the Conference Division and Industry Operations staff to plan and coordinate conferences, workshops, and webinars.


If you have the following credentials, we encourage you to apply:

  • BA and a minimum of 10 years’ experience in fund operations or an equivalent of related education and experience.
  • Strong knowledge of fund distribution and servicing, transfer agent and recordkeeping functions, and related compliance requirements.
  • Strong knowledge of defined contribution plan structures and markets is a definite plus.
  • Established relationships across industry participants supporting fund distribution through intermediaries, including traditional, clearing, and independent broker/dealers; retirement plan product providers; private wealth management companies; service providers, and relevant trade associations.
  • Management or supervisory experience of administrative and highly competent professional staff a plus.
  • Knowledge of mutual fund structure, operation, and regulation (similar ETF, CIT, and retail SMAs knowledge a plus).
  • Knowledge of mutual fund transfer agent operations/practices supporting fund investors.
  • Knowledge of back, middle and front office distribution for mutual funds, CIT and/or retail SMA, including prevailing strategies for compensating sales professionals and wholesalers.
  • Ability to understand the impact of legislative and regulatory developments on fund operations, particularly in the context of fund distribution through intermediaries.
  • Strong interpersonal skills to effectively support ICI policy initiatives and priorities internally and externally including the interests of Institute members and other industry stakeholders.
  • Strong project management skills and ability to coordinate concurrent projects.
  • Excellent verbal and written communication skills.
  • Convene effective in-person, virtual, and hybrid meetings with clearly defined objectives to meet desired outcomes.
  • For back-office-focused roles
    1. Understanding bank/trust and broker/dealer clearance and settlement processes for mutual fund, CIT and/or retail SMA transactions.
    2. Knowledge and understanding of DTCC Wealth Management Services, ACATS, and net settlement processes.

ICI offers a competitive compensation and benefits package to include a comprehensive medical plan, generous 401(k) retirement savings plan, paid leave, commuting subsidies, and tuition reimbursement as well as training and development opportunities. Based in Washington, DC, ICI is conveniently located next to McPherson Square Metro station. This is a hybrid position with three days in the office and two working from home.

ICI is an Equal Opportunity Employer that values diversity and inclusion in the workplace.

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