Senior Manager, Fund Operations

Thornburg Investment; Santa Fe (NM); On-site; USD 140,000 - 190,000; Full time

Benefits offered by this job

Medical/dental/vision coverage

401(k) safe harbor & profit sharing

Flexible work arrangements

Education reimbursement

Onsite cafeteria

Onsite fitness center

Referral program

Job summary

Thornburg Investment in Santa Fe, NM seeks a Senior Manager, Fund Operations to oversee Transfer Agent activities and governance of intermediary payments, including 12b-1 and shareholder servicing. You will lead a team, define KPIs, and drive process improvements across partnerships with Sales, Legal, Compliance, Finance, and Fund Administration, while supporting audits and regulatory reviews.

The role emphasizes risk management, scalability, and automation to strengthen Thornburg mutual funds’

Qualifications

• Bachelor's degree in Business Administration, Finance, Accounting, or related field.
• 10–15+ years in fund/ intermediary operations with 5+ in leadership.
• Experience designing managing intermediary oversight and payment programs.
• Experience supporting SEC exams, internal audits, and compliance reviews.
• Experience evaluating operational risks and implementing control frameworks.
• Active participation in industry organizations (ICI, NICSA, DTCC).
• FINRA Series 7, 24, and 99 licenses.

Responsibilities

• Lead and manage intermediary payment administration, contracting, and oversight activities.
• Set goals, KPIs, and service standards; implement process improvements.
• Oversee review and administration of intermediary agreements and payments (12b-1, shareholder servicing).
• Manage lifecycle of intermediary agreements and contractual obligations.
• Design and enhance the intermediary oversight program for risk tracking.
• Collaborate with Sales, Legal, Compliance, Finance, Fund Administration, Operations.
• Develop procedures, controls, and documentation; support audits and examinations.
• Prepare reporting on intermediary payments and governance; present to boards.

Skills

Leadership

Operational oversight

Analytical thinking

Communication

FINRA licenses

Education

Bachelor's degree in Business Administration/Finance/Accounting

Tools

FINRA licenses: Series 7/24/99

Job description

Description

Thornburg is a global investment firm delivering on strategy for institutions, financial professionals and investors worldwide. The privately held firm, founded in 1982, is an active, high-conviction manager of fixed income, equities, and multi-asset solutions.

As an independent firm, Thornburg can take on a wide range of opportunities, explore ideas thoroughly and work across strategies to deliver consistent risk-adjusted outperformance over the long term. The firm attracts free-thinking professionals who are eager to pursue investment outcomes beyond the confines of popular wisdom. From nimble operational capabilities to principles and actions fitting of a global citizen, Thornburg's world-class investment platform and team are aligned on strategy to serve investors.

Job Summary

The Senior Manager, Fund Operations, is responsible for the oversight of funds Transfer Agent and for the execution and governance of intermediary payment, contracting, and oversight processes that support the distribution and servicing of shareholders of the Thornburg mutual funds. This role provides leadership for the review, approval, and administration of intermediary and service provider payments, including 12b-1, shareholder servicing, revenue sharing, and other fee arrangements.

The position serves as a key subject matter expert for Fund Operations, supports board and committee reporting, and drives continuous improvement initiatives that strengthen operational effectiveness, scalability, and risk management across the department.

Duties and Responsibilities:

• Lead and manage operational functions related to intermediary payment administration, contracting, and oversight activities, including coaching, mentorship, and performance management for team members.
• Establish team goals, key performance indicators, and operational service standards, and implement process improvements that enhance efficiency, scalability, controls, and risk mitigation.
• Direct the review, approval, and administration of intermediary arrangements, including 12b-1, shareholder servicing, marketing support, DCIO servicing, and other distribution-related payments.
• Oversee the lifecycle management of intermediary agreements and ensure contractual obligations, fee arrangements, and service commitments are accurately reflected in operational processes.
• Design, administer, and enhance the intermediary oversight program to assess operational, compliance, and service risks and track remediation activities.
• Collaborate with Sales, Distribution, Legal, Compliance, Finance, Fund Administration, and Operations on intermediary relationships, regulatory requirements, and operational matters.
• Develop and maintain procedures, controls, and documentation supporting key operational processes and participate in audits, regulatory examinations, and due diligence reviews.
• Prepare and present reporting related to intermediary payments, contractual arrangements, and oversight activities, including annual board reporting.
• Maintain strong working relationships with intermediary firms, custodians, transfer agents, service providers, distribution partners, and operational contacts at other fund companies.
• Serve as a subject matter expert and escalation point for complex operational issues and lead issue resolution involving intermediary operational processes or contractual matters.
• Evaluate new intermediary arrangements, distribution partnerships, and service models from an operational risk and feasibility perspective.
• Support product launches, fund mergers, share class initiatives, and distribution strategy changes.
• Drive automation and technology initiatives that improve payment processing, contract management, and oversight capabilities, and contribute to long-term operational strategy and organizational planning for Fund Operations.
• Perform other duties as assigned.

Requirements

• Bachelor's degree in Business Administration, Finance, Accounting, or related fields or equivalent combination of education and experience.
• 10-15+ years of progressive experience in fund operations or intermediary operations with at least 5 years in managerial/leadership roles.
• Demonstrated experience designing and managing intermediary oversight, vendor oversight, and payment management programs.
• Demonstrated experience supporting SEC examinations, internal audits, and compliance reviews.
• Demonstrated experience evaluating operational risks and implementing control frameworks.
• Experience managing significant operational vendor relationships.
• Active participation in industry organizations such as ICI, NICSA, DTCC working groups, or similar forums.
• Excellent written and oral communication skills, with strong analytical ability to ask probing questions, summarize complex technical information for non-technical audiences, and deliver concise feedback.
• Required FINRA licenses: Series 7, Series 24, and Series 99.

Job Benefits

• Medical, dental, and vision coverage.
• Employer 401(k) safe harbor and profit-sharing contributions.
• Work/life programs such as flexible work arrangements, flexible paid time off, paid parental leave, employee assistance program, education reimbursement program.
• Community involvement opportunities.
• Onsite cafeteria.
• Onsite fitness center.
• Referral program.

Santa Fe is the capital of New Mexico. Founded in 1610 and nicknamed "The City Different," Santa Fe captures hearts and minds with its museums, restaurants, theater, opera, and adobe-style architecture. With an average of over 300 sunny days per year and picturesque landscape, it's no wonder that outdoor activities such as skiing and hiking in "The Land of Enchantment" attract visitors from around the world.

All qualified applicants will receive consideration for employment without regard to age, race, color, religion, sex, national origin, disability, gender, gender identity or protected veteran status.