Fund Operations Associate

The role

The role is primarily focused on middle-office support of the Fund's trading, physical, and operational activities. Given the intentionally small team, the Fund Operations Analyst will also support any of the additional responsibilities below on an as-needed basis, working under the direction of the Head of Operations and COO/CFO.

Primary Responsibilities

• Trade Operations & OMS: Provide day-to-day middle-office support of trades, including trade capture, allocations, confirmations, and reconciliations within the Fund's order management system (OMS), and help maintain and support the trade system.
• Physical Operations: Support the physical commodity operations of the Fund, including tracking, logistics, and settlement of physical metals transactions in coordination with logistics brokers, warehousing, and other counterparties.
• Performance Estimates: Prepare Business Day 1 (BD1) performance estimates and support timely delivery of estimates to management and investors.
• Monthly P&L: Prepare and review monthly P&L and support the month-end close process across the fund structure.
• Operational Support & Ad Hoc Projects: Provide hands-on operational support across the trade lifecycle, logistics, and trade-system workflows, and take on ad hoc projects to support the Head of Operations and COO/CFO and to deepen understanding of the operational side of physical commodity trading.

Additional Responsibilities (as needed) — supporting the Head of Operations and COO/CFO given the intentionally small team:

• NAV Production: Assist the Fund's administrator with production and review of monthly NAVs, including pricing, valuation support, and reconciliation of positions and cash.
• Investor Reporting: Assist with monthly investor statements, performance reporting, due diligence questionnaires, and ad hoc investor requests.
• Audit: Assist with annual audit requirements, including preparation of supporting schedules and review of financial statements.
• Regulatory Matters: Assist with CFTC/NFA and Bermuda regulatory obligations, including periodic filings, recordkeeping, and compliance monitoring support.
• Policy Drafting: Assist in drafting, maintaining, and enhancing operational, compliance, and governance policies and procedures.

What you bring

Required

• 5+ years of relevant experience in trade operations, middle/back office, hedge fund operations, fund accounting, fund administration, public accounting (financial services), or a related role.
• Bachelor's degree in Accounting, Finance, Economics, or a related field; CPA, CFA, Series 3 and/or public accounting background a plus.
• Strong understanding of fund structures (master-feeder, fund-of-ones), NAV processes, and administrator oversight.
• Experience with commodities, futures, and/or physical commodity trading strongly preferred.
• Familiarity with regulatory frameworks applicable to CPOs/CTAs (CFTC/NFA) a plus.
• Advanced Excel skills; comfort working with order management, portfolio, and reconciliation systems.
• Excellent written and verbal communication skills, including the ability to draft policies and investor-facing materials.
• Self-starter with strong attention to detail, sound judgment, and the flexibility to operate across many functions in a small, entrepreneurial team.

Nice to have

• Knowledge of industry best practices and regulatory requirements

Meet most of these but not every one? Apply anyway. A recruiter looks at your whole background.

The package

• Base salary: $125K-$150K
• Annual bonus

The firm

This is a confidential search, so the firm is described rather than named. JSB shares the name in a first conversation.

Our client is a highly specialized alternative investment manager focused on global commodities. The organization maintains an international footprint, with operations spanning the United States and Carribean, and offers a unique opportunity to join a specialized investment platform operating at the intersection of commodities, technology, and global macroeconomic trends.