Director, Operational Due Diligence

Fidelity Investments • Boston, MA

4d • $103,000 - $211,000

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 key 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 Director works with internal partners and subject matter experts across Compliance, Legal, Risk, the Treasurer’s Office, Finance, Product, Operations, and the Investment Team to support due diligence and oversight. The position also manages implementation activities with internal and external partners, contributes to governance forums, and evaluates and enhances the oversight program, including its policies, procedures, and controls. Up to 25% travel is required.

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

SAI is a registered investment adviser and Fidelity Investments Company that provides investment management services through Fidelity’s retail and institutional distribution channels. It has specialized in managed accounts and other 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.

Requirements

• Bachelor’s degree required.
• 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.
• 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 shifts in priorities.
• Self-starter with high attention to detail and accuracy.

Nice To Haves

• Operational due diligence, compliance, operations, corporate audit, or controller experience.
• Experience with derivatives, private assets, hedge funds, Business Development Companies (BDCs), limited partnerships, interval funds, tender offer funds, or 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 partners and subject matter experts from Compliance, Legal, Risk, the Treasurer’s Office, Finance, Product, Operations, and the Investment Team on due diligence and oversight.
• Evaluate the control environments of potential investment advisers and managers.
• Assess operational risk for 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.
• Travel up to 25%.

Benefits

• Comprehensive health care coverage.
• Emotional well-being support.
• Market-leading retirement benefits.
• Generous paid time off.
• Parental leave.
• Charitable giving employee match program.
• Educational assistance, including student loan repayment, tuition reimbursement, and learning resources to develop your career.
• Depending on position and eligibility, bonus or other variable compensation.

What This Job Offers

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