Dignity Health

  • Senior Investment Operations Analyst

    Job ID
    Employment Type
    Full Time
    Investment Management
    Hours / Pay Period
    Dignity Health
    San Francisco
    Standard Hours
  • Overview

    Dignity Health, one of the nation’s largest health care systems, is a 22-state network of more than 9,000 physicians, 63,000 employees, and 400 care centers, including hospitals, urgent and occupational care, imaging and surgery centers, home health, and primary care clinics. Headquartered in San Francisco, Dignity Health is dedicated to providing compassionate, high-quality, and affordable patient-centered care with special attention to the poor and underserved.  In FY17, Dignity Health provided $2.6 billion in charitable care and community services. For more information, please visit our website at www.dignityhealth.org. You can also follow us on Twitter and Facebook.


    Industry: Nonprofit/Health Care; Investing

    Function: Investment Management


    Employer: Dignity Health

    Job Title: Senior Analyst, Investment Operations

    Job Location: San Francisco, CA


    The Opportunity: Working for the over $9 billion Dignity Health Investment Program is an opportunity to apply analytical and investment skills for the benefit of one of the nation’s largest health care systems and further its commitment to providing compassionate, high-quality, affordable health care. You will be part of a small, collegial team, working to build and grow a world-class, socially-responsible investment organization, delivering strong long-term, risk-adjusted returns.


    The Dignity Health Investment Program comprises five pools of capital – long-term corporate operating reserves, a defined benefit plan for employees, two insurance trusts, and a vehicle exclusively dedicated to investing related foundation assets. These pools have many similar underlying managers but differ in terms of their risk and return profiles and asset allocation targets.


    As a key member of our team, the Senior Analyst, Investment Operations will work closely with the entire investment team and have a significant degree of responsibility, exposure, and growth opportunities. The position will report to the Manager, Investment Operations and coordinate and be responsible for day-to-day operations of the investment organization, performance reporting, fee analyses, and cash flow coordination. Additionally, the Senior Analyst will have a significant role in the implementation of back office operations as we transition functions in-house from our external advisor. The Senior Analyst will also work with other areas of Dignity Health around financial, audit, and tax items related to the investment program. We believe the breadth of our investment mandates and dynamic environment in which we operate lead to opportunities for continual learning and development. We offer a solid compensation and benefits package as well as a balanced work environment in a performance-oriented, collegial, team-based setting.




    As part of the back office operations transition, the Senior Analyst will work with the Manager, Investment Operations and Project Manager on all aspects of vendor selection and implementation, including:


    • Reviewing the documented investment processes, working with Dignity Health’s current advisor to understand all existing processes, and updating the process manual as needed subsequent to the in-house transition.
    • Supporting the Manager, Investment Operations in developing recommendations as to which middle- and back-office processes should be performed internally and which should be performed by third-party vendors.
    • Assisting with the development of Request for Proposals (RFPs) for required services; help identify vendors that should receive RFPs, and assist in assessment of RFP responses and vendor selection.
    • Working closely with the Manager, Investment Operations on all aspects of implementation of new systems and services, and parallel testing.


    Together with the Manager, Investment Operations, the Senior Analyst is responsible for the day-to-day operations of the investment organization including:

    • Interacting with the custodian on items related to regular and ad hoc cash flows, opening or closing of participant accounts, country filings, and other operational matters.
    • Evaluating invoices against fee schedules for investment managers and external vendors such as ISS and Sustainalytics.
    • Coordinating and confirming trades with our custodian around program cash flows.
    • Conducting research and analysis on a wide variety of evolving topics and handle ad hoc projects, analyses, presentations and reports.


    Performance reporting and fee analysis:

    • Primary responsibility for accuracy of performance reporting, and reporting reconciliation as needed, coordinating with the broader investment team to ensure suitable and timely levels of detail are provided to enable appropriate fiduciary oversight of the assets.
    • Conduct the annual fee analysis on the investment program activities.


    Support the quarterly and annual audit cycle and tax reporting items related to the investment program:

    • Work with the Manager, Investment Operations around the quarterly and annual audit cycle deliverables related to the investment program.
    • Work with Financial Reporting around other needs related to the investment program, including but not limited to assisting in gathering K-1 reports, providing monthly investment commentary, and assisting with information related to tax reporting and filings.


    Work collaboratively and cross-train, to the extent practical, with the Analyst, Risk to provide adequate coverage of operational and risk functions. This may include:


    • Helping to analyze and assist with regular reviews of asset class attributes as well as overall portfolio and market characteristics, including exposures, performance, liquidity, and key risks.
    • Supporting asset allocation and risk management efforts by gathering, maintaining and processing a variety of portfolio and economic data.



    Participate in broader investment team activities and discussions.

    • Coordinate reporting and valuation of the direct investment portfolio with the custodian and other parties as appropriate, through regular discussions with executives at the underlying companies.
    • Assist with maintaining ongoing document management for outside investment manager monitoring and operational due diligence.
    • Assist with the quarterly socially responsible investment review process with investment managers. Highlight any key issues or risks observed to team.


    Communicate effectively with other Dignity Health staff and promote a collegial working environment.

    • Serve as a respected ambassador for Dignity Health, representing the organization with high integrity and professionalism.
    • Establish and maintain strong relationships with industry participants.


    Education & Experience:

    • Minimum 3 years of investment operations, accounting or financial reporting experience for an asset manager, asset owner, third-party administrator, or investment consultant.
    • Bachelor’s degree required.
    • CPA designation (active or inactive) or candidate strongly preferred.
    • Competence across the Microsoft Office Suite including significant experience with Excel and Word.
    • Experience with data visualization tools, such as Tableau or Qlik, preferred.


    Desired Abilities & Attributes:

    • High ethical and professional standards including a genuine interest in the values of Dignity Health and in socially responsible/ESG/impact investing.
    • Require basic interest in and knowledge of investment operations. Experience and interest in the health care industry a plus.
    • Deep intellectual curiosity and critical reasoning skills with sound judgement and capacity to ask insightful questions.
    • Meticulous attention to detail and superior organizational skills.
    • Ability to evaluate and synthesize quantitative and qualitative data. Comfort with quantitative analysis, and using numbers to tell a clear story.
    • Motivated self-starter and problem-solver with a demonstrated track record of producing high quality deliverables on tight deadlines.
    • Ability and willingness to juggle multiple tasks, respond to changing priorities, and contribute to areas beyond the direct scope of responsibility.
    • Strong interpersonal, verbal and written communication skills.
    • Collegial and collaborative attitude; able to work effectively in a diverse team.


    Compensation: Salary commensurate with experience.

    Sponsor International Candidates: No.

    Other: References and writing samples may be requested.


    Organization: Dignity Health began as a single hospital founded on the belief that all people deserve medical care, regardless of their background, ethnicity, or circumstances. Headquartered in San Francisco, Dignity Health is now one of the largest health systems in the nation and the largest hospital provider in California. Dignity Health is made up of more than 60,000 caregivers and staff who deliver excellent care to diverse communities across a 22-state network, and 400 care centers, including hospitals, urgent and occupational care, imaging centers, home health, and primary care clinics. Dignity Health is committed to delivering compassionate, high-quality, affordable health care services with special attention to the poor and underserved. Through teamwork and innovation, faith and compassion, advocacy and action, we endeavor every day to keep our patients happy, healthy, and whole. In 2016, the system invested $2.2 billion in charity care, community health programs, and other community support programs. Hello humankindness.


    To apply:

    AA/EOE. No phone calls. Please submit a cover letter and resume online at:


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