Director, Operational Due Diligence - Alternative Investments

Fidelity Investments•Boston, MA

8d•$103,000 - $211,000•Onsite

About The Position

The Advisor Oversight Team at Fidelity partners closely with investment management teams and stakeholders to identify and mitigate risks associated with external advisers in Fidelity investment products. This program covers various asset classes and product structures. The team is seeking a Director to focus on the Alternative Investments component, which includes 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 support the development of a best-in-class Alternative Investments due diligence and oversight program. Key responsibilities include leading initial and ongoing operational due diligence for funds and advisors in alternative asset classes, developing board and committee materials for reporting and decision-making, and collaborating with internal partners (Compliance, Legal, Risk, etc.) to evaluate control environments and assess operational risks. The role also involves enhancing program documentation, identifying technology/process improvement opportunities, and fostering a collaborative team environment.

Requirements

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.

Nice To Haves

Direct experience with Business Development Companies (BDC), Limited Partnerships, interval funds, tender offer funds and hedge fund structures across Alternative Investments and products.
Operational Due Diligence experience at a bank, asset allocator, fund of funds, or other investment platform.

Responsibilities

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.
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.
Foster and develop a collaborative and dynamic team environment.