Operations Associate | Net Impact

Operations Associate

Illumen Capital

FIRM OVERVIEW

Illumen Capital is an impact fund of funds addressing systemic inequity by reducing racial and gender bias in investing. We invest in high-performing funds, and work with those managers to install evidence-based strategies and tools designed to reduce racial and gender bias. This work is aimed at helping fund managers better identify, evaluate and invest in overlooked and underestimated entrepreneurs, ultimately driving outperformance and unlocking returns. We believe an inclusive and optimal asset management industry will be the cornerstone of an equal and equitable future.

A Black-owned and led firm, Illumen Capital has been investing since 2018, and closed its first fund in 2020 at $88 million. We invest into the top impact funds across venture capital, growth equity, and private equity, with a focus on health & wellness, education, climate & sustainability and financial inclusion. In 2019, we published peer-reviewed research in the Proceedings of the National Academy of Sciences that validated our thesis: race influences the decision making of professional investors. Illumen partners with Stanford SPARQ to design and apply evidenced-based bias reduction curriculum, training and tools to portfolio fund managers, and with Impact Experience to deliver experiential learning opportunities for fund managers and investors to help connect the dots between slavery, historical racism, and present-day implicit bias found in the asset management industry.

ROLE OVERVIEW

Working in close collaboration with Illumen Capital’s investment team and reporting to SVP, Investor Relations Jason Henning, the Illumen Capital Operations Associate will drive operational excellence across the team and the firm as well as lead downstream operational due diligence. This position will be based in the San Francisco Bay Area.

Responsibilities will include but will not be limited to:
● Provide firm-wide operational and compliance support
● Liaise with legal, tax, accounting, banking, compliance and fund administration vendors to ensure timely and accurate payments and filings according to regulatory requirements
● Prepare firm to successfully navigate anticipated registration process with the Securities and Exchange Commission (SEC) to become a Registered Investment Advisor (RIA)
● Review, update and submit firms Form ADV, Form PF and other regulatory filings
● Assist with rule 206(4)-7 annual compliance review, annual compliance manual update, periodic forensic compliance testing and compliance infrastructure evaluation including personal trading review
● Review investor letters, pitchbooks, DDQs, PPMs and other marketing materials for compliance with the Investment Advisers Act of 1940 including marketing and advertising rules, anti-fraud and other applicable U.S. federal securities laws
● Manage annual compliance process, including maintenance of compliance calendar, regulatory filing deadlines, organization of staff trainings, upkeep of the due diligence questionnaire (DDQ), and upkeep of the compliance manual and firm policies
● Support the organization’s human resources function, including maintenance of the personnel manual, oversight of staff reimbursements, coordination of the hiring/new-employee orientation process, and establishment of employer-sponsored healthcare benefits
● Lead business and operational due diligence on prospective funds, and report findings to Illumen Capital’s leadership and investment committee
● Conduct ongoing operational and compliance monitoring of Illumen Capital’s portfolio of funds

The ideal candidate will possess:

● A demonstrated passion for building a more equitable, inclusive world, starting with the financial sector
● Experience evaluating and assessing organizational strength, governance, IT security, and compliance procedures, both internally and externally
● Approximately five years of experience, at least three years in an operational role and at least two years in a compliance role
● Experience working in (i) the finance industry at a VC, growth equity, or private equity firm or (ii) a law firm as a paralegal or office manager
● An ability to review financial statements to ensure accuracy in capital calls, quarterly reports, and other financial reporting
● Strong understanding of the Investment Advisers Act of 1940
● Excellent writing skills, financial skills, PowerPoint skills and proofreading ability
● A proven track record of being detailed and process-oriented
● A Bachelor’s Degree or equivalent demonstrated educational attainment

TO APPLY

Interested applicants should submit a resume, cover letter, and relevant writing sample to careers@illumencapital.com by April 9, 2021. We look forward to reviewing your application!

We are an equal opportunity employer.

Illumen Capital is committed to equal employment opportunity for all employees and to providing employees with a work environment free of discrimination and harassment. All employment decisions at Illumen are based on business needs, job requirements and individual qualifications, without regard to race, color, religion or belief, family or parental status, or any other status protected by the laws or regulations in the locations where we operate. Illumen will not tolerate discrimination or harassment based on any of these characteristics.