AVP, Operational Due Diligence

Location : Location US-NY-New York
Posted Date 2 months ago(5/19/2020 5:45 PM)
ID
2020-14291
# of Positions
1

Position Summary

Within Aflac’s Global Investment Division, the Operational Due Diligence employee will be an integral part of the New York External Management team. The team is responsible for manager sourcing, selection and monitoring. The position requires conducting initial and ongoing operational due diligence reviews to mitigate reputational and operational risks and assisting with manager onboarding to ensure that manager mandates meet expected service level requirements. The candidate is expected to maintain, enhance, and apply risk based operational due diligence framework. The Operational Due Diligence role is to support the Head of Operational Due Diligence in the development and implementation of external management practices and contribute to establishing a framework for best practices in order to implement and monitor the firms outsourcing efforts. The Operational Due Diligence employee will also collaborate with key stakeholders across accounting, operations, data management, tax, compliance, IT including communication with business partners in Columbus, GA (Corporate) and Japan as part of manager onboarding process, ongoing manager monitoring and related projects.

 

Key Relationships

Reports to:  Head of Operational Due Diligence

Primary Support:  Multiple departments in support of External Management practices as it relates to Operational Due Diligence

Other Relationships: Japan External Management, Data Management, Compliance, Trade Operations, Risk, Trading, Portfolio/Investment, IT, Investment Accounting, Human Resources, and other key stakeholders

Responsibilities

  • External manager platform: Establish and implement Operational Due Diligence best practices framework across external management platform. Assist in facilitating company-wide work groups in the planning, implementation, and execution for operational due diligence reviews and onboarding of the externally managed mandates (portfolios). Continuously advance operational due diligence practice to create and improve upon existing processes and procedures while advancing the overall expertise in external management. Maintain knowledge of industry best practices as it relates to the operational due diligence.
  • Implementation of approved investment initiatives: Assist, coordinate and conduct operational due diligence reviews for approved asset class searches, in conjunction with investment due diligence review. Conduct both on-site due diligence meetings and conference calls with external managers including C-level suite management and senior operational personnel. Champion internal approval processes and coordinate on-boarding of external managers across all internal functional groups.  Such reviews, with oversight from head of group, should include but not limited to, an assessment of organizational and governance structure, personnel qualifications, review of operational and financial processes and controls, trade life cycle, risk management, infrastructure and systems, compliance program, the business continuity and disaster recovery plans and information security / cyber matters, assessment of third party service providers and financial and accounting reporting.
  • Monitor and evaluate: Take accountability and perform ongoing manager assessment as part of monitoring existing external managers by reviewing and analyzing manager DDQs, marketing materials, policies and procedures, public filings and other relevant documents and conducting periodic onsite visits and touch points with existing managers. Maintain documentation, identify issues and develop and recommend solutions.
  • Reporting: Contribute to producing and delivering management reporting to internal stakeholders relating to External Management.
  • Project: Ability to lead and manage projects that require significant coordination and managing requirements of business partners globally including accounting, tax, operations, compliance, IT and data management.

Qualifications

  • Bachelor’s degree in finance, accounting, mathematics, economics or statistics is preferred.  Masters/ MBA or CAIA/CFA/CPA is a plus.
  • 5+ years of experience in asset management operational due diligence or middle- and back-office / fund accounting experience in private credit/private equity strategies.
  • In depth understanding of private market investment operations process flows including expected control environment and all key processes and functions across trade life cycle, settlement, operations, compliance, accounting and IT. Direct operational experience in private credit is preferred
  • Good understand of financial instruments and investments
  • Experience in evaluating internal control processes, procedures and documentation including ability to review of legal documentation
  • Knowledge or experience in managing operational risk management and asset manager oversight practices.
  • Experience in managing onboarding and requirements of custom separately managed accounts
  • Basic knowledge/understanding of US and/or Japan Insurance Industry Regulations as they pertain to Investments
  • Insurance company asset management experience a plus.

Job Knowledge & Skills

Technical Skills:

  • 5+ years of Asset Management experience with exposure to Alternative asset classes: Private Credit (middle market loans, CLOs, ABS and/or real estate debt investments) and Private Equity strategies (Private Equity, Real Estate Equity, co-investments, venture capital)

Non-Technical Skills:

  • Strong client facing skills. Candidate will work closely with the Aflac investment team and functional business partners.
  • Highly organized with the ability to work on multiple projects with different deadlines independently. 
  • Strong verbal and written communication skills able to clearly articulate and facilitate information flow across different teams. 
  • Strong analytical and problem solving skills.
  • Ability to work and coordinate projects independently and possess effective time management skills. 
  • Ability to facilitate compromise between conflicting requirements or points of view.
  • A team player with a strong work ethic.
  • Strong attention to detail.
  • Ability to interface with all levels of management.
  • Proactive approach to issue resolution.
  • Ability to work effectively with other individuals and departments.Ability to work under pressure.

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