The Robert Toigo Foundation

Investment Operations Manager

National Rural Electric Cooperative Association (NRECA)
May 6, 2022
4301 Wilson Blvd, Arlington, VA
Job Type
Commensurate with experience
  • Virginia


The National Rural Electric Cooperative Association (NRECA), with offices in Arlington, VA and Lincoln, NE is the trade association for over 900 consumer-owned electric cooperatives serving more than 42 million people. NRECA is committed to harnessing the strength of America’s electric cooperatives into a single powerful voice. NRECA has won the following awards over the past few years:

  • Top Workplace by the Washington Post
  • 100 Best Places to Work - ComputerWorld Magazine
  • 50 Best Places to Work - The Washingtonian
  • CARE Award Recipient - Recognizing organizations that promote a positive work-life balance
  • Best Place to Work Award Recipient - Lincoln, NE
  • Gold Well Workplace - Wellness Councils of America
  • State of NE Governor's Wellness Award - Grower Level.

At NRECA, we work with people who are leaders in their fields. They are down-to-earth, hardworking professionals committed to helping our members serve their communities. Our work is interesting, constantly evolving, and requires new skills to meet the evolving needs of a dynamic industry. In this collegial, inclusive work environment, united around the compelling purpose and history of electric cooperatives, we thrive. And topping it off, NRECA cares about each person’s overall well-being, encouraging health, financial security, and a sustainable work/life balance.

Please apply at

Job Description

The NRECA Investment Strategy and Performance (ISP) team is looking for a seasoned professional to lead investment operations for NRECA-sponsored benefit plans with $27 billion in defined benefit and defined contribution assets under management across public equities, fixed income, private equity, private credit, and real estate.  The incumbent will work in a highly collaborative, small team environment and will interact with key stakeholders across the organization, as well as investment consultants, custodian bank representatives, external legal counsel, and asset managers.  They will report directly to the Chief Investment Officer and will leverage experience to further build upon a strong-performing investment program with established approaches and an openness to implement new best practices.  Key areas of responsibility across all functional operations will include performance calculations, reconciliation, and attribution, transactions processing, investment reporting, asset allocation and cash flow monitoring, investment guideline compliance, and due diligence process monitoring.

Position Summary

Leads operations within Investment Strategy and Performance (ISP) for the defined benefit and defined contribution plans. Responsible for all operational functions of investment programs, including maintenance of performance data, transactions processing, investment reporting, portfolio and guideline monitoring and compliance, as well as data processing, database and document management, and key elements of the due diligence process. Utilizes best practices in and knowledge of investments and benefit plans to improve operational investment processes and reporting. Acts independently to plan, execute and deliver results for the team.

Essential Duties and Responsibilities

  • Responsible for all operational functions of investment programs, including maintenance of performance data, transactions processing, investment reporting, portfolio and guideline monitoring and compliance, as well as data processing, database management, and document management, including serving as primary user of various third-party software applications to meet these key functions
  • Develops, implements, oversees, and monitors processes to validate integrity of performance data, including calculations and methodologies at the manager, composite, and plan levels across all assets (including public and private market assets)
  • Supports the entire due diligence process including analysis and delivery of portfolio and performance analytics, coordination of and participation in due diligence meetings, and development of reports to support the decision-making process
  • Evaluates and monitors asset allocation, investment guideline compliance, and liquidity for the RS Plan and the GBP, including ongoing monitoring of cash flows and pacing for alternative investments
  • Establishes and implements processes to ensure compliance with all investment guidelines
  • Oversees monitoring and execution of investment-related cash flows, including capital calls, distributions, and the payment of investment-related fees and expenses for all plans while ensuring compliance with regulatory requirements and appropriate fiduciary oversight.  Partners with Finance department to ensure the cash flows are accurately reflected in financial statements.
  • Serves as primary liaison for ISP team with internal and external counsel, coordinating review and approval of all legal documents, including investment management agreements, subscription agreements, investment guidelines, limited partnership agreements and related amendments
  • Uses available data and resources to create executive management and Board-level reports regarding a wide range of investment subjects including asset allocation and rebalancing, risk analysis, investment-related operational and regulatory matters, and guideline compliance
  • Generates reports and transfers data to meet participant investment-related activity reporting and to update profiles and holdings content for 401(k) plan fund fact sheets.
  • Takes ownership of policies and enhances processes to ensure compliance with regulatory document retention requirements
  • Builds relationships across internal and external partners and subject matter experts to meet shared goals and objectives
  • Cross-trains with the Senior Portfolio Analyst to ensure redundancy on critical tasks
  • Manages, monitors, and modifies department budgets on an on-going basis. Develops investment manager and trustee fee projections for the direct program expenses budget. Liaison with Finance and Accounting during budget planning process and for operational issues throughout the year. Serves as liaison during annual audit.
  • Processes invoices for various services such as bank custody, analytics, and consulting

Direct Reports to this Position: None


Formal Education Required

  • Bachelor’s degree in accounting, business administration, economics or finance or an equivalent. Master’s degree, CFA, CIPM, CPA, and/or CAIA preferred.

Experience and Certifications Required

  • Eight years of related experience in the investment operations or equivalent

Knowledge, Skills and Abilities Required

  • Ability to perform and work on multiple tasks while being flexible and able to cope with changing conditions/policies/procedures in a fast-paced and sometimes intense working environment, while staying productive and maintaining a high level of accuracy.
  • Ability to be persuasive, negotiate, and collaborate with individuals at all levels inside and outside of the organization.
  • Ability to effectively interact with others and work in a collaborative team environment to build consensus and gain agreement on plan of action
  • Ability to develop, learn, and document new systems and processes, identify opportunities for improvement, make constructive suggestions for change, and incorporate new policies and processes into the daily work.
  • Knowledge of Generally Accepted Accounting Principles (GAAP) and their application.
  • Knowledge of ERISA, IRS and DOL regulations and laws related to the defined contribution and defined benefit plan administration.
  • Working knowledge of various investment performance and risk management, custodian bank, cash management, and invoicing applications, as well as all MS Office applications.
  • Knowledge of investment theory and economics, equity, fixed income and alternative investments, asset allocation, performance measurement, attribution analysis, customized benchmarking, and various models used to obtain such information.

Please apply at


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