Director, Operational Due Diligence

Fidelity • Boston, MA

3d

About The Position

Strategic Advisers, LLC (SAI) is seeking a Director, Operational Due Diligence to lead initial due diligence, onboarding, and ongoing oversight of third-party sub-advisers and fund-of-funds managers across public, private, and alternative assets. The role assesses managers’ operational risk and control environments, prepares Board and Committee materials, and serves as a relationship lead for external managers and internal partners. The work supports Fidelity’s growth in sub-advised funds, separately managed accounts, private markets, and hedge fund offerings.

The position is part of the Advisor Oversight Team within SAI, which oversees third-party engagements across Private Assets and Alternative Investments Programs, Mutual Funds, Separately Managed Accounts, and other Fidelity Asset Management products. The team partners with investment teams and key stakeholders to identify and manage risks associated with external advisers and provides risk and oversight guidance on new product initiatives.

SAI is a registered investment advisor and Fidelity Investments Company that provides investment management services through Fidelity’s retail and institutional distribution channels. It has specialized in managed accounts and custom solutions for more than 30 years and has more than $1.4 trillion in assets under management across Fidelity and third-party investment vehicles.

Up to 25% travel is required. Fidelity is transitioning to a full-time onsite working model through a phased regional and role-based rollout; current onsite expectations vary, and may evolve. The base salary range is $103,000–$211,000 per year, with placement based on responsibilities, geographic location, relevant experience, and other factors. Eligible offers may include bonus or other variable compensation. Fidelity will not provide immigration sponsorship for this position.

Requirements

• Bachelor’s degree required.
• At least 8 years of relevant work experience.
• Broad-based investment industry experience.
• Ability to influence and collaborate with internal and external partners.
• Strong analytical, organizational, and problem-solving skills, including the ability to understand complex issues.
• Demonstrated ability to identify key risks and manage them to resolution.
• Strong project management, relationship management, and communication skills.
• Ability to identify, prioritize, and address multiple issues simultaneously and respond quickly to shifting priorities.
• Self-starter with high attention to detail and accuracy.

Nice To Haves

• Experience in operational due diligence, compliance, operations, corporate audit, or controller functions.
• Experience with derivatives, private assets, hedge funds, Business Development Companies (BDCs), limited partnerships, interval funds, tender offer funds, and fund-of-funds.

Responsibilities

• Lead initial due diligence efforts for third-party providers in public, private, and alternative assets.
• Develop Board and Committee materials for initial due diligence presentations, quarterly reviews, brokerage reporting, ongoing monitoring, and annual contract renewals.
• Collaborate with subject matter experts and partners in Compliance, Legal, Risk, the Treasurer’s Office, Finance, Product, Operations, and the Investment Team.
• Evaluate control environments of potential investment advisers and managers.
• Assess operational risk of firms and products under consideration.
• Manage relationships with third-party managers and sub-advisers through ongoing engagement and communication.
• Manage implementation activities with internal and external partners.
• Participate in and contribute to governance forums related to due diligence.
• Evaluate and enhance the oversight program, including policies, procedures, and controls.

Benefits

• Comprehensive health care coverage.
• Emotional well-being support.
• Retirement benefits.
• Paid time off.
• Parental leave.
• Charitable giving employee match program.
• Educational assistance, including student loan repayment, tuition reimbursement, and learning resources.

What This Job Offers

• Job Type: Full-time
• Career Level: Director