Senior Manager, Advisor Oversight - Alternative Investments

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 Senior Manager to support the Alternative Investment 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 Alternative Investment due diligence and oversight programs covering a variety of private asset classes, hedge fund strategies and structures

• Create Board and Committee materials to support cross-functional program reporting and decision making for the Alternative Investment boards, committees and workgroups  

• Review manager provided materials and questionnaire responses

• Participate in initial and ongoing operational due diligence engagements

• Engage with key partners and subject matter experts from Compliance, Legal, Treasurer’s Office, Product, Operations, Finance and the Investment Team

• Evaluate control environments of potential investment advisors and managers

• Provide operational risk assessment of firms and products under consideration

• Assist with program documentation and maintenance

• Seek to identify opportunities for improvements in program and processes through technology solutions and/or process efficiency gains

Team responsibilities include:

• Participate in 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 the investment advisors and products, which include, but not limited to, coordination of the periodic questionnaire distribution and review across departments, oversight and assistance with collection and review of documents as needed

• Prepare reports and presentations used to support board, senior management, committee and stakeholder meetings

The Expertise and Skills You Bring

• 5+ years of working experience

• Bachelor’s degree required

• Excellent verbal, written, and interpersonal communication skills

• Strong project management and relationship management 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

• Ability to work on multiple tasks and respond to shifts in priorities

• Experience working collaboratively with colleagues and other teams

• Operational Due Diligence experience at a bank, asset allocator, fund of funds, private fund or other investment platform is preferred

• Direct experience with Business Development Companies (BDC), Limited Partnerships, interval funds, tender offer funds and hedge fund structures across Alternative Investments and products is a plus

• Possess translatable experience in investment accounting/audit, compliance, or risk management at a financial institution

• This role will include a blend of at-home and in-office work. Learn more about how Fidelity has embraced Dynamic Working.

• Ability to travel up to 10% 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 Investment 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 illiquid manager oversight program. 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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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.