Clubb Search is conducting this search on behalf of the W.K. Kellogg Foundation (WKKF).
Reports to: Matthew Shellenberger, Associate Director, Asset Allocation & Risk Management
Location: Battle Creek, MI or Remote
Travel: Less than 10% of the time
Career level: Analyst (FLSA exempt, no direct reports)
JOB PURPOSE
The W.K. Kellogg Foundation's Investment Office seeks to generate excellent, long-term, risk-adjusted returns that advance the Foundation's mission. The Senior Analyst, Investment Operations plays a key role in supporting the operational integrity of the Foundation's investment portfolio. Working closely with the Manager and the Analyst, Investment Operations, this role coordinates complex investment operations across public and private market investments, including investment onboarding, cash flows, settlements, data management, operational controls, and reporting. The Senior Analyst maintains accurate investment records, strengthens processes and workflows, supports governance and compliance, and partners across the investment office and with external service providers.
OPERATIONS & EXECUTION
• Coordinate mid- and back-office and administrative processes for implementing approved investment decisions — onboarding, maintaining, and terminating investments — within the framework set by the Investment Operations Manager.
• Track and advance onboarding and pre-subscription activities: tax and legal due diligence follow-up, AML/KYC materials, completing and submitting investment documents, and retaining fully executed records.
• Maintain workflow trackers for assigned workstreams (tasks, deadlines, outstanding items, dependencies, status).
• Coordinate routine communications with the custodian bank, law firms, auditors, tax advisors, technology providers, and investment managers; escalate complex vendor or contractual issues and material exceptions.
• Support WKKF's Financial Services Core Team on annual audits, new account procedures, private equity cash flows, and tax analysis related to investment vehicle selection.
• Execute established procedures, checklists, and controls for recurring processes, and recommend improvements.
DATA MANAGEMENT & REPORTING
• Maintain investment operations data and document-management processes so key records are accurate, organized, complete, and accessible.
• Perform first-level quality-control reviews across systems, reports, and source documents; document discrepancies and coordinate follow-up.
• Prepare inputs, supporting schedules, and documentation for the quarterly investment activity report, including data validation for Board reporting.
• Identify opportunities to improve data quality, reporting workflows, and system-enabled processes.
CASH FLOW & ACTIVITY SUPPORT
• Coordinate operational processing of rebalancing, additions, redemptions, purchases, sales, manager fundings, and terminations.
• Prepare, review, and route trade tickets, subscription and redemption notices, wire instructions, settlement details, approvals, and custodian communications.
• Monitor trade settlements, cash movements, and corporate actions; escalate settlement breaks, timing issues, or material variances.
• Track and reconcile cash flows across public and private markets — capital calls, contributions, distributions, redemptions, income, fees, expenses, and unfunded commitments.
• Maintain liquidity records (lockups, gates, notice periods, redemption windows) and flag upcoming liquidity events.
• Review and reconcile investment manager fees and office expenses within established vendor and invoice controls.
• Investigate routine cash-flow, settlement, documentation, or data exceptions and escalate material issues.
OTHER RESPONSIBILITIES
• Contribute to a cohesive, high-trust team culture: positive intent, intellectual curiosity, transparent communication, and respectful candor.
• Serve as an experienced operational resource through process knowledge sharing, cross-training, and consistent documentation practices.
• Take on special projects and additional duties as assigned.
EDUCATION & EXPERIENCE
• Bachelor's degree required, preferably in investments, accounting, business, or economics.
• Minimum of four years of experience in investment operations, fund administration, asset management, or a related investment-oriented occupation.
• Experience fostering collaborative relationships across diverse cultural and professional backgrounds.
CORE CAPABILITIES
• Manage the account opening, processing, and administrative needs of a complex multi-asset class, global portfolio.
• Knowledge of separately managed accounts, commingled funds, limited partnerships, investment agreements, private placement memorandums, and subscription documents across public equities, fixed income, hedge funds, and private equity.
• Working knowledge of investments, tax, legal, AML & KYC, and operations for middle- and back-office tasks.
• Learning agility to become proficient in investment-related technology systems.
• Clear verbal and written communication of investment operations insights to support the CIO and team.
• Familiarity with Northern Trust, BNY Mellon, or similar custodial institutions preferred.
• Absolute integrity, discretion, and commitment to WKKF's fiduciary responsibilities.
DESIRED QUALITIES
Shares WKKF's values and DNA, intercultural competence, openness/self-awareness, ego management, systems thinking, unifier, change competence, collaborative, conflict competence, listens well, talent architect/people developer, empowering leadership, trust builder, shared accountability, results-oriented.
SEARCH TEAM
Aaron M. Clubb, Managing Partner — aaron@clubbsearch.com
Noble Madu, Partner — noble@clubbsearch.com
