REPORTING & PROJECTS ANALYST
FitzRoy Investment Advisors (FRIA) is a Miami-based multi-family office with AUM of ~$600m as of year-end 2023. The 7-employee Firm advises around a dozen ultra-high net worth families and individuals from the US and Latin America.
FRIA is looking to hire a Reporting & Projects Analyst to provide operational support to the firm’s monthly reconciliation and reporting process, and take over several process improvements and efficiency projects. The Reconciliation and Reporting function is a critical area within the firm that needs to operate seamlessly, against very specific timelines and where attention to detail is of the upmost importance.
The Reporting & Projects Analyst will be partnering on a daily basis with the Reconciliation & Reporting Manager and the rest of the team to maintain and improve all operational procedures related to client reporting, data management and assets reconciliation. We are currently kicking off a project for an existing client (Legacy Client A Project) which will initially require 75% of time dedication, and 50% after implementation. Besides the ongoing monthly cycle support, we have a substantial project pipeline which will require considerable time dedication.
The individual in this role will be expected to coordinate effectively with the client and investments teams on an ongoing basis. This position requires critical skills such as initiative, collaboration, problem solving and the ability to work under minimal supervision.
The role is ideal for a recently graduated business or finance professional who wants to work in a boutique firm with broad exposure to the entire advisory cycle: manager
selection, portfolio construction, client advisory, consolidated reporting, investment
performance measurement and operations support.
The opportunity will allow young individuals to become acquainted with professional and systematic processes associated with the financial advisory business and to develop their
knowledge across the entire spectrum of wealth management. In summary, the analyst
would benefit from the following:
– Entry step into the Finance sector
– Be a crucial resource in a boutique financial advisory firm, within the most important
area of the Firm, and the one with most need for optimization given our expected
future growth (Consolidation, Reporting and Operations)
– Exposure to clients and external stakeholders from a starting position
– Full ownership of client deliverables within a few months of starting
– Start adding value within the first week on the job
– Learn from institutional processes, some of which have been around since the Firm’s
establishment 13-years ago
– Be trained by experienced individuals whose main goal is to consistently present high-quality materials to our clients (in-depth analytical content delivered through rigorous
presentation standards)
– Fast-paced career progression and increased responsibilities as the individual
consistently (over)delivers against objectives
A. Key areas of responsibility:
1. LEGACY CLIENT A PROJECT (75% initially, 50% after implementation)
I. Create a complementary / standalone dedicated report of historical
returns and actual / projected cashflows for a ($100m+) complex
portfolio of holdings across multiple jurisdictions, sectors and asset classes
II. Interact with external managers (20+) and other stakeholders (4-6)
directly involved in the investment management process
III. Set out a periodic (and timely) delivery of holdings information to build
(since inception) a return history and project expected cashflows
IV. Reconcile cashflows / activity across the entire ownership structure (i.e.
from the investment to the ultimate beneficial owner) with a well established
audit trail
V. Manage complexity with a significant number of involved parties
VI. Own monthly and quarterly deliverables for the different family members / beneficiaries
2. RECONCILIATION AND REPORTING – ONGOING MONTHLY CYCLE (TBD)
I. Partner with the Reconciliation and Reporting Associate (and the whole
FRIA Team) to maintain this function, while owning all deliverables for
Legacy Client A and Family
II. For reference, the Function’s main deliverables are:
i. Ownership for all reconciliation and reporting procedures: including, but not limited to, manual account reconciliation, account opening and closing, cash flows reconciliation
ii. Database management: ensure the accuracy and integrity of all data inputted into our consolidated reporting system (Addepar), as well as proper downloading and filing of all client account statements.
1. Coordinate with the client & investments team on new accounts and trade execution to make sure Addepar accurately reflects clients’ activity
2. Add new account interfaces in Addepar, including preparing all documentation needed
3. Own communication with Addepar support regarding any data issues and propose new solutions to resolve them
4. Create & maintain reconciliation and reporting manuals
5. Work with FRIA Managing Partner and Client & Operations Director on system enhancements and operational improvements
iii. Consolidated reporting: review draft and final versions of monthly
reports (internal and external) and co-ordinate any changes with the reporting and reconciliation manager
iv. Process management: establish and follow standardized quality
controls to minimize reporting errors
3. Projects (TBD but expect these to consume 20-30% of time)
I. Work with other team members on ongoing projects and process improvements. More detail can be provided to selected candidates, but these would be around: private equity (PE) investments performance, upgrade of existing internal portfolio performance and portfolio rebalancing tools, ongoing reporting automation for offline assets, etc
B. Reporting: position reports to the Client & Operations Director (Alfredo Gonzalez)
C. Interaction with:
1. FRIA Managing Partner and entire FRIA team
2. External: custodian banks, investment managers, third-party providers, clients
D. Skills & qualifications required:
1. Bachelor or master’s degree in accounting, business, finance or economics
2. Solid numeracy and quantitative analytical skills
3. Strong working knowledge of Microsoft Office suite, with emphasis on Excel proficiency
4. Consistent attention to detail and a meticulous approach to completing tasks
5. A problem-solving and entrepreneurial approach to work
6. Ability to work unsupervised in the preparation of deliverables while remaining highly motivated
7. Outstanding organizational skills, with ability to manage a dynamic and demanding agenda with potential conflicting priorities
8. Solid work ethic
9. An interest in the financial markets, both public and private
10. Fast learner with the ability to see and understand the business holistically and get up to speed on the company’s proprietary systems
11. Good communication skills, internally and externally
12. Comfortable interacting with external parties such as clients, bankers and brokers, etc.
13. Language requirements: English (mother tongue or proficient), Spanish (preferred but not required)