Operational Due Diligence Manager

The Nest Invest risk team is currently looking to recruit an Operational Diligence Manager. The incumbent will assist the Head of Investment Risk to formulate an ODD policy and conduct operational due diligence on new and existing investment managers and partners. The incumbent will work closely with investment teams providing independent collaborative challenge highlighting areas of risk.

This is a newly created role in a newly created risk function in Nest Invest and which will report to the Head of Investment Risk.

The Operational Due Diligence Manager will be responsible for:

• Conducting operational due diligence on funds, managers and other investment partners, including:
  • Management company's business operating model, organisation, staffing, legal structure.
  • Investment and control teams' experience and background.
  • Trading, trade processing, trade reconciliation processes, IT systems & cybersecurity.
  • Fund valuation processes, fund administration.
  • Internal control, regulatory and compliance.
• Reviewing external fund (and co-investment) legal documentation and tax set-up, including liaising with internal finance and legal departments on issues identified.
• Reviewing other investment partners terms of partnership, including documentation and operating model.
• Reviewing candidate fund's third-party service providers, cross checking information with independent sources (prime brokers, auditors, fund's administrator, directors).
• Conducting monitoring reviews & manager visit reports with invested managers to ensure all processes are being followed & high standards are being maintained.
• Reviewing funds and managers audited financial statements.
• Ensuring the Investment Team are up to date on legal and accounting issues in relation to the alternative investment industry.
• Assisting with wider risk team activities including managing and maintaining the Nest Invest Operational Risk register.
• Contributing to the creation and development of a diverse and inclusive culture across the organisation, collaborating across functions.

Experience and technical skills required:

• In-depth experience in operational due diligence from within a private equity platform or fund, alternative investment administrator or prime broker, or an auditing firm as a financial auditor conducting audit within Private Equity or AIF universe.
• Knowledge of Investment Consultancy or Asset Management Industry.
• Understanding of companies' legal set up.
• Accountancy and taxation knowledge.
• Understanding of valuation methodologies and processes.
• Maintain contacts with professionals and service providers in the alternative investment industry on legal and due diligence matters.
• Experience with enterprise risk management software.
• Experience with Aladdin or Cepres is an advantage.

We are open to discussing working patterns.

We welcome all internal applicants to apply for our roles, regardless of your current working pattern or hours. We will aim to accommodate your request and match your current working arrangements.

Don't worry if you think you don't have all the key skills, it might be worth taking the few minutes to apply as we're good at spotting potential and offer a generous training budget.

Reward and recognition

• A discretionary bonus scheme.
• Reward and recognition scheme.
• Enhanced auto enrolled pension - your contributions start at the default 5% while ours are higher at 8%. If you up your contributions to 6% we raise ours to 9%. If you contribute 7% or more we'll contribute 10%.
• Income protection scheme - is an insurance benefit that provides you with income if you cannot work due to illness or incapacity.

Everyone's personal situation is different.

To make the most out of hybrid working, we've introduced different ways of working, which include (subject to role requirements):

• Hybrid of office (Canary Wharf, London) and home working (there will be an expectation to attend the office twice a week, or more, as required).
• Reduce or vary working hours.
• Reduce or vary the days worked.
• Work compressed hours.
• Job share.

Directorate/Department Overview

The Investment directorate (Nest Invest) is responsible for investing members' contributions in order to grow their retirement pots over the long-term. The responsibilities of the team include:

• Asset allocation.
• Manager selection and monitoring.
• Responsible investment.
• Investment communications.
• Fund administration.
• Investment technology and financial modelling.
• Contributing to the development of the investment proposition.

From December 2019, the Nest Investment team was seconded into Nest Invest Ltd (Nest Invest), the investment subsidiary of Nest Corporation. Nest Invest Ltd is authorised and regulated by the Financial Conduct Authority (FCA).

Organisational Overview

Nest is an award-winning workplace pension scheme, the largest in the country.

Set up by the government to give every worker in the UK somewhere to save, our first-class responsible investment practice and governance are the backbone of what we do, supported by all the functions you'd expect to find in a thriving business. We're committed to creating a workplace where you can be your authentic self and offer an inclusive and flexible working environment.

Diversity, Equity and Inclusion

Everyone is welcome to apply for our roles, and we are determined to ensure that no applicant or employee receives less favourable treatment because of their age, belief, disability, gender identity, marital status, national origin, pregnancy or caring responsibilities, socio-economic background, sex, sexual orientation, religion or race or any other legally protected status.

We also recognise the importance of diversity of thought and other forms of neurocognitive variation.

Nest is a Disability Confident Leader, which is the highest level of the Disability Confident Scheme. If you have a disability, declare that you're applying through the scheme and meet the minimum criteria for this role, we aim to invite you to an interview. However, there may be a few exceptions where we are not able to take all eligible candidates to the next stage due to the volume of applications.

Please note that this advert may close early if we receive a sufficient number of satisfactory applications.

If you have any difficulty in sending your application or need the application pack in an alternative format, or you require any reasonable adjustments please contact: .