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Manager, Investment Finance – Operational Due Diligence
POSITION SUMMARY
A senior member of the Investment Finance department providing valuable services and support to the Investment Division.
Primarily responsible for conducting operational due diligence reviews and monitoring activities in respect of external managers in accordance with the Board’s External Manager Due Diligence Policy. Responsible also for conducting operational due diligence reviews in respect of certain key service providers to the Investment and Investment Finance departments, and certain external managers.
Responsibilities include: traveling to perform on site due diligence on hedge fund managers and other service providers with travel within Canada, to the U.S.A., and, to a lesser degree, Europe and Asia; to conduct interviews with the senior management of the hedge funds, as well as other external managers and managed accounts. In addition periodic reviews of service providers; performing due diligence assessments of operations of hedge funds; writing reports and presenting findings to senior management are key functions of the role. The requirements include: 1) maintaining sufficient documentation and knowledge in respect of the external managers and service providers monitored 2) follow-up of external manager relationships 3) operational recommendations made to those hedge funds on behalf of the Board; and 4) managing key relationships within the Board and externally.
DUTIES AND RESPONSIBILITIES
1. Conducts operational due diligence in respect of external managers and key service providers:
• assesses the internal control environment
• gains an understanding of the regulatory and compliance environment
• understands internal process flows
• understands the funds transfer, settlement, custody and valuation processes
• identifies the primary service providers, and discuss how they were selected
• reviews information systems, capabilities and back-up procedures
• meets the operations personnel, and assess their skill and integrity
• establishes OTPPB’s reporting requirements
2. Monitoring Activities in respect of external managers and key service providers:
• performs updates on previous due diligence monitoring changes on the funds
• documents changes in the funds staffing, controls, systems, and other material issues and highlights key issues to relevant internal parties: 1) Investments, CFO and Operational Due Diligence Staff and, 3) Key Relationships with Finance with the fund and/or legal if required,
• discusses, issues, changes, and impacts to the established OTPPB’s service and reporting level requirements
3. Develops and maintains a good understanding of the primary Investment Finance functions and related internal controls, systems and processes:
• Trade processing, settlement, custody, and valuation
• Operational, investment and financial reporting
• Performance and risk measurement
• Regulatory compliance
4. Develops and maintains a high level of knowledge with respect to industry developments, standards and best practices related to:
• Full range of financial instruments and capital markets activities
• Investment / fund strategies
• Financial accounting and disclosure
• Internal controls
• Risk management
• Operational due diligence
• Information systems and technology
• Investment regulation
5. Liaises with key contacts within the Investment Division, external managers, service providers and other contacts
• Ensures exceptional service is provided
• Responds to inquiries and requests from the Investment department
• Works with various internal departments to ensure the efficient and effective use of resources
• Assists the Investment, Investment Finance and Law departments with the preparation, review and execution of contracts, as required
• Monitors the service levels of external managers and service providers, as required, and takes measures to ensure excellent service is received
• Liaises with other pension plans, investment managers and industry participants to discuss best practices and various operational and due diligence matters
QUALIFICATIONS
- Relevant university degree
- Chartered Accountant
- CFA or other investment related designation is a valuable asset
- Extensive professional work experience (5+ years) post CA qualification
- Managerial talent and proven leadership ability, demonstrated through managing direct reports or supervising the work of others
- Investment operations and/or middle office experience in a management role (3+ yrs) is a valuable asset – e.g. trade processing, settlement, pricing & valuations, reconciliations, investment reporting, performance measurement, risk measurement, database maintenance, disaster recovery planning, etc.
- Experience in evaluating and reporting upon internal control processes considered an asset
- Experience in writing and presenting reports to senior management and to Boards of Directors (or Audit Committees)
- Experience interacting with senior management and external advisors and auditors
- Effective planning and organizational experience to set departmental and corporate priorities and co-ordinate projects to meet deadlines
- The ability and the confidence to interact with senior management in Hedge Funds, quickly establish credibility and persuasively manage the due diligence discussions to meet with policy and Board objectives
REF# 429
Interested candidates must apply directly to our website at www.otpp.com. More detailed job description can be found on our website. We appreciate your interest and will contact you if a meeting is required. More detailed job description is available on our website.
http://www.otpp.com/wps/wcm/connect/otpp_en/Home/Corporate+Info/Careers/Career+Opportunities+site/
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