Operational Due Diligence Associate/VP - $50b OCIO global firm growing at 10% AUM/year working for a managing director who is diversified that we have worked with for over 15 years. Become background to the MD, perform private market investment due diligence and lead the migration to a state-of-the-art OpDD system. Two years OpDD or internal control experience. Hybrid schedule with some time in NYC office. Market compensation of 150k to 200k.
Key Differentiators:
25% of your time will be interacting with the investment team
Lead conversion to Diligence Vault, the defacto OpDD standard system
Support and encouragement to get your CAIA or CPA
Training is key - go through training program which includes streaming investment due diligence training
Our client, a 250 employee, ~$50b international alternative investment manager, whose AUM has grown over 10% per year, is seeking an Associate to join the New York office as member of the Operational Due Diligence Team. The candidate will conduct all aspects of the operational due diligence process, including but not limited to, information gathering, meeting preparation, onsite visits, data analysis, risk assessment and evaluation, report issuance, and ongoing monitoring of asset managers. This individual will report to the Global Head of Operational Due Diligence.
A self-starter, adaptable and comfortable working on a small team in an extremely fast-paced, ever-changing entrepreneurial environment is sought. The ideal candidate has an excellent ethic, strong verbal and written communication skills and has prior operational due diligence or internal control assessment experience.
Responsibilities
Lead the conversation to the state-of-the-art Diligence Vault OpDD system.
Conduct operational due diligence reviews of fund managers (including but not limited to hedge funds, private equity, venture capital, real estate, private debt, separately managed accounts, and co-investments) in collaboration with the Asset Class Research Teams.
Initiate and complete documentation requests (e.g., due diligence questionnaires, fund legal documents, audited financial statements, standard operating procedure manuals regulatory reports, etc.) from asset managers.
Complete initial desktop reviews of data and documents collected to identify potential issues or concerns which may require further investigation.
Arrange and participate in calls or onsite meetings with asset managers to interview finance, operations, and compliance team members.
Write detailed Operational Due Diligence reports, including overall assessments of the manager as well as assessments across certain operational risk areas (e.g., trade flow, valuation, cash movements, governance structure, compliance, technology, etc.).
Present findings, recommendations and conclusions to the Asset Class Investment Teams, Chief Investment Officer, and/or the Asset Class Investment Committees.
Compile, review and ensure the accuracy of key fund information in internal systems.
Track all operational concerns and issues identified and work directly with the managers and/or the Asset Class Investment Teams to ensure the concerns and issues are remediated.
The role is expected to involve some travel (domestic and potentially international) and direct interaction with fund managers and third- party service providers such as administrators, auditors, compliance consultants, and lawyers. In addition, the candidate may be required to assist with ad-hoc internal projects and initiatives. Key responsibilities may be assessed and are subject to change from time to time based on the needs of the business. The individual may be required to work overtime as needed.
Qualifications
Minimum two years of operational due diligence or internal control assessment experience.
Robust understanding of hedge fund and private equity fund structures and operational risk matters.
High degree of professionalism and ability to work independently and collaboratively.
Strong communication skills and ability to interact with internal management, external asset managers and clients.
Proficient in Microsoft Office (Excel, Word, PowerPoint).
Excellent problem-solving skills, highly analytical and data-oriented.
Places an extremely high value on data accuracy and integrity.
Highly proactive, results, and action-oriented.
Very strong organizational and project management skills in a fast-paced Capable of working on multiple reviews and initiatives simultaneously.
Independent “outside the box” thinker in regard to “best practice” policies and processes.
Very comfortable in working at a small entrepreneurial company.
Highly motivated team player who is willing to do whatever it takes to contribute to the success of the team and business.
Compensation
Our salary and benefits package is competitive and includes a base salary, a performance-based cash bonus and a deferred compensation program directly linked to firm profitability, designed to support retention and incentivize long-term employees. Our client is committed to the development of its staff and provides extensive on-the-job learning and training opportunities. We also support pursuit of professional certifications as appropriate to each individual.
Benefits
Our client is committed to being a great place to work. We are focused both on well-being and professional growth. You can expect professional development and career progression opportunities, competitive compensation, exceptional benefits, and a flexible working model. Our benefits package includes medical, dental, and vision insurance, short and long-term disability insurance, life insurance, flexible spending accounts, commuter benefits, paid time off and a 401(k) plan with an employer matching. The Firm also supports global philanthropy via a charity program and volunteer day. In addition, we champion a variety of wellness and social events.