Role Overview
The Director of Investment Operations leads the execution and ongoing evolution of the operations supporting the direct indexing platform, ensuring scalable, accurate, and tax-efficient execution of personalized separately managed accounts (SMAs). This role partners closely with portfolio management, technology, dev/engineering, client teams, and risk to deliver operational excellence across a highly customized, tax-managed investment offering. This role reports into the Head of Platform Operations.
Direct indexing platforms require precision, data integrity, and tax-aware execution at scale, combining portfolio customization, tax-loss harvesting, and high-volume account management.
This role joins at an important time as we continue to grow and invest in our operations, technology, and team. We’re looking for a leader who can set direction but also stay close to the work and drive execution.
Experience leading operational change—especially in outsourced middle- and back-office environments—is important. This person should be able to take high-level priorities and turn them into practical, day-to-day actions across a growing and complex platform.
Key Responsibilities
Investment Operations Leadership
Lead the day-to-day execution across investment operations lifecycle middle & back-office functions (account onboarding, portfolio implementation, reconciliation, reporting, contracting, billing, proxy voting, custody/3rd party management).
Maintain a scalable operating model supporting high-volume, highly customized SMA portfolios
Manage third-party portfolio accounting system.
Ensure operational processes support ongoing tax management (tax-loss harvesting, tax transitions, and capital gains management) and portfolio customization (ESG screens, restrictions, factor tilts, client-specific constraints)
Maintain close partnership with development/engineering teams to ensure seamless integration across portfolio management systems, trading platforms, and client reporting tools
Oversee data flows across benchmark, security master, client restrictions, and tax-lot systems
Team Management & Development
Lead and develop a team of ~10 crew members, with a focus on execution quality and continuous improvement
Establish clear performance expectations aligned to accuracy, timeliness, and client outcomes
Promote a culture of accountability, continuous improvement, and operational excellence
Operational Risk & Process Improvement
Work with embedded 1st line risk partner to identify operational risks and implement effective controls to manage
Drive process standardization and automation to scale operations, streamline workflows, and improve efficiency
Support development of key performance metrics and operational reporting
Vendor & Service Provider Coordination
Manage relationships with third-party vendors
Establish service-level agreements and monitor performance against operational KPIs
Resolve escalations and ensure continuity of service
Client Experience & Delivery
Enable a seamless onboarding and servicing experience for SMA clients
Support high-touch client experience through accurate reporting and operational transparency
Partner with client teams to support complex portfolios (e.g., concentrated stock, transitions, tax-sensitive mandates)
Represent Operations as subject matter expert in a client facing capacity, including support for conversations with prospective clients, custodian, SMA sponsor platforms, and other 3rd party partners.
Key Qualifications
10+ years in investment operations
Deep understanding of direct indexing, equity SMAs, and tax-managed investing, including direct experience with one or multiple middle and back-office outsourcing platforms used by SMA managers (i.e., Vestmark, Advent, BNY Archer, SEI)
Strong knowledge of trade lifecycle, portfolio accounting, and data management
Proven leadership experience managing high-performing operations teams
Strong partnership skills across front office, technology, and risk
Undergraduate degree required
What Makes This Different (Direct Indexing Context)
Compared to traditional asset management operations, this role requires:
Mass customization at scale (each portfolio is unique)
Continuous tax optimization execution, not periodic
High data complexity (tax lots, restrictions, personalization inputs)
Tight integration with technology platforms to enable automation
Client-level precision vs. fund-level processing
Special Factors
Sponsorship
Vanguard is not offering visa sponsorship for this position.About Vanguard
At Vanguard, we don't just have a mission—we're on a mission.
To work for the long-term financial wellbeing of our clients. To lead through product and services that transform our clients' lives. To learn and develop our skills as individuals and as a team. From Malvern to Melbourne, our mission drives us forward and inspires us to be our best.
How We Work
Vanguard has implemented a hybrid working model for the majority of our crew members, designed to capture the benefits of enhanced flexibility while enabling in-person learning, collaboration, and connection. We believe our mission-driven and highly collaborative culture is a critical enabler to support long-term client outcomes and enrich the employee experience.
Skills Required
- 10+ years in investment operations
- Deep understanding of direct indexing and equity SMAs
- Experience with middle and back-office outsourcing platforms
- Strong knowledge of trade lifecycle and data management
- Proven leadership experience
- Undergraduate degree
Vanguard Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about Vanguard and has not been reviewed or approved by Vanguard.
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Retirement Support — Retirement support appears unusually strong through a 401(k) design that includes a match plus an additional employer contribution, which can materially lift long-term total rewards. HSA seeding and an enhanced employer match further strengthen the savings-and-benefits value of the package.
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Wellbeing & Lifestyle Benefits — Wellbeing and lifestyle support is reinforced by a sizable annual FlexFund stipend that can be applied across many day-to-day categories such as fitness, childcare, and other personal expenses. On-site or virtual clinics and fitness options add practical health and wellness convenience.
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Affordable Benefits — Healthcare and related benefits are positioned as comparatively affordable via heavily subsidized medical plans and broad coverage options. This affordability can offset moderate base pay for employees who place higher value on out-of-pocket cost reductions.
Vanguard Insights
What We Do
We are a community of 30 million who think – and feel – differently about investing. Together, we’re changing the way the world invests. Since our founding in 1975, helping our investors achieve their goals is our sole reason for existence. With no other parties to answer to and therefore no conflicting loyalties, we make every decision—like keeping investing costs as low as possible—with only your needs in mind. Vanguard is one of the world's largest investment companies, offering a large selection of high-quality low-cost mutual funds, ETFs, advice, and related services. Individual and institutional investors, financial professionals, and plan sponsors can benefit from the size, stability, and experience Vanguard offers. As of April 30, 2019, we managed more than $5.6 trillion in global assets. In addition, we have 189 funds in the United States and 225 funds in global markets. For Commenting Guidelines & Important information, visit here: http://vanguard.com/linkedin Vanguard Marketing Corporation, Distributor.
