Job Description:
The Role
Strategic Advisers' Advisor Oversight Team partners closely with Fidelity's investment management teams and key stakeholders to identify and mitigate risks associated with the engagement of external advisers within Fidelity investment products. The Advisor Oversight Program covers a breadth of asset classes and product structures. The team is looking to add a Director to support the Alternative Investments component of the program. Alternative Investments include private equity, private credit, private real assets (real estate and infrastructure) and hedge funds. Reporting to the Vice President, Advisor Oversight
Alternative Investments the individual will be responsible for the following activities:- Support the development of a best-in-class Alternative Investments due diligence and oversight program
- Lead initial and ongoing operational due diligence and oversight for funds investing in private asset products, such as private equity, private debt and private real estate; and investment advisors managing alternatives products and funds
- Develop Board and Committee materials to support cross-functional program reporting and decision making for the Alternative Investment boards, committees, working groups and senior leadership
- Collaborate with key partners and subject matter experts from Compliance, Legal, Risk, Treasurers Office, Finance, Product, Operations and the Investment Team to support the due diligence and oversight process
- Evaluate control environments of potential investment advisors and managers
- Provide operational risk assessment of firms and products under consideration
- Enhance, expand and maintain program documentation
- Seek to identify opportunities for improvements through technology solutions and/or process efficiency gains
Team responsibilities include:
- Lead initial operational due diligence with potential investment advisors and managers to evaluate their control environments and perform a thorough operational risk assessment of the firm and products under consideration.
- Conduct ongoing monitoring activities to identify any material risks across investment advisors and products. The activities include, but are not limited to, coordinating the distribution of periodic questionnaires, reviewing submitted material and responses and engaging key partners as needed
- Prepare reports and presentations used to support board, senior management, committee and stakeholder meetings.
- Foster and develop a collaborative and dynamic team environment
The Expertise and Skills You Bring
- Bachelor's degree required plus 8+ years of working experience
- Direct experience with Business Development Companies (BDC), Limited Partnerships, interval funds, tender offer funds and hedge fund structures across Alternative Investments and products preferred
- Operational Due Diligence experience at a bank, asset allocator, fund of funds, or other investment platform is preferred
- Strong project management and relationship management skills
- Excellent verbal, written, and interpersonal communication skills
- Strong analytical skills with high attention to detail and accuracy, and strong organizational and problem-solving skills; ability to understand complex issues.
- Demonstrated ability to own initiatives and see them through to completion
- Possess translatable experience in investment accounting/audit, compliance, or risk management at a financial institution Ability to simultaneously identify, prioritize and address multiple issues and quickly respond to shifts in priorities.
- Experience working collaboratively with business, distribution, service providers, Risk, Legal, and Compliance teams
- Ability to travel up to 25% of the time
Note: Fidelity will not provide immigration sponsorship for this position.
The Team
The Advisor Oversight Team partners closely with Fidelity's investment management teams and key stakeholders to identify and manage risks associated with the engagement of external advisers within Fidelity investment products. The Advisor Oversight Program covers a breadth of asset classes and product structures, including the growing Alternative Investments business. The team provides support and oversight of various aspects of Fidelity's registered and private funds and investment advisory services, including liquid alternatives, business development companies, hedge funds, private equity, hybrid funds, and insurance-related products. The team is also responsible for the private asset and hedge fund oversight programs. The team interacts frequently with Fidelity portfolio management teams and product development groups as well as Fidelity control partners, including Legal, Treasurer's Office, Risk, and Operations.
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Fidelity's Onsite Working Model
Fidelity is transitioning to a full-time onsite working model through a phased rollout across regions and roles. Currently, some roles and locations require 100% onsite presence, while others require less. Onsite expectations are likely to evolve as the rollout continues. This transition does not apply to fully remote roles.
The base salary range for this position is $103,000-211,000 USD per year.
Placement in the range will vary based on job responsibilities and scope, geographic location, candidate's relevant experience, and other factors.
Base salary is only part of the total compensation package. Depending on the position and eligibility requirements, the offer package may also include bonus or other variable compensation.
We offer a wide range of
benefits to meet your evolving needs and help you live your best life at work and at home. These benefits include comprehensive health care coverage and emotional well-being support, market-leading retirement, generous paid time off and parental leave, charitable giving employee match program, and educational assistance including student loan repayment, tuition reimbursement, and learning resources to develop your career. Note, the application window closes when the position is filled or unposted.
Please be advised that Fidelity's business is governed by the provisions of the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940, ERISA, numerous state laws governing securities, investment and retirement-related financial activities and the rules and regulations of numerous self-regulatory organizations, including FINRA, among others. Those laws and regulations may restrict Fidelity from hiring and/or associating with individuals with certain Criminal Histories.
Certifications:Category:Investment Operations
