HEAD OF OPERATIONAL DUE DILIGENCE
£110,000 - £125,000 + Bonus + Benefits
Our client is a unique investment manager who also acts in an advisory capacity to its clients. They are highly entrepreneurial and believe they are pioneers in their specialist field and are adept at creating new and innovative ways to solve problems. They have a highly open and collaborative environment. They advise and have fiduciary obligations on £60bn of assets. The company's Operational due diligence (O.D.D.) department plays a very important role in the overall due diligence process. They now have a new role which will manage and run a small Operational Due Diligence team which carries out thorough, independent and thoughtful operational due diligence to mitigate operational risk in their clients' fund investments which are multi asset class.
Reporting to a Partner, and working with two other senior operational due diligence professionals, the team covers a broad range of assets and works with a range of different teams across the business. The department is highly independent of the investment team and has the ability to veto investments if there are major operational risks. Although independent the team works work collaboratively with the wider due diligence team to openly debate our findings and remain flexible to new information. The O.D.D. team are aligned with the wider due diligence team to ensure that the firm invests in the best managers.The operational due diligence manager/Head of O.D.D. will work closely with the other team members to review operational infrastructures at investment managers. The individual will be responsible for monitoring the existing portfolio of investment managers as well as reviewing new investment managers, ensuring the company's processes and practices are best in class, identifying and implementing improvements and setting the direction for the O.DD. team. The role requires close interaction with the investment and legal team as part of the combined due diligence effort as well as regular interaction and site visits of managers. You must be able to build effective relationships with all stakeholders, communicate with clarity of thought, show sound judgement in your assessment of investment managers and challenge and push back where appropriate, operating your right to veto. You will also be responsible for the management and coaching of an analyst in the O.D.D. team and therefore must have the interest and ability to coach and lead others.
- Review key operational documentation pertaining to investment managers and performing onsite visits.
- Ensure all due diligence is presented to the operational due diligence team in a timely manner for review, to minimise delays and identify potential issues/veto early in the process.
- Carry out on-going due diligence for the existing portfolio; the frequency will be determined on a risk basis.
- Provide feedback to managers on the findings of due diligence and where applicable offer solutions to mitigate operational risk.
- Work closely with members of the investment, client and legal teams to ensure that priorities are agreed and investment deadlines are met.
- Participate in client meetings or pitches for new business to present the due diligence process.
- Contribute to ad hoc business initiatives.
- Assist with ensuring that the operational due diligence process consistently reflects best practice and any key industry topics are incorporated.
- Maintain team documentation.
SKILLS AND EXPERIENCE REQUIRED
- Educated to degree level.
- Professional qualifications relating to accounting or investment IMC, CFA, ACCA. ACA
- 8 years' experience in the financial services industry.
- A minimum of 4 years' experience in operational due diligence.
- Knowledge of hedge funds, private equity and real estate funds.
- Strong understanding of the asset management industry.
- Knowledge across a broad range of fund structures: hedge funds, retail funds, private equity, real estate funds.
- Excellent organisational skills and logical thinking.
- Excellent attention to detail.
- Good people and communication skills.
- Able to work under pressure to set deadlines.
- Willingness to travel as necessary.
- Flexible, proactive and positive working approach.