Product Manager, Network Rules & Governance

InvestCloud, Inc.•New York, NY

2d•$165,000 - $195,000

About The Position

Altic is a rules-based operational network that enables private markets to operate within managed accounts at scale. The Product Manager, Network Rules & Governance will own Altic’s rulebook, technical specification, and participant agreement as products, accountable for their content, evolution, approval, and adoption across the network. The role will formalize the governance framework for changing the rules and establish and run the committee structure that governs them. The position works between legal, engineering, and network participants. It translates agreed legal positions into requirements that technical product and engineering teams can build against, and helps participants reach agreement on rules. It also advocates for and teaches the rulebook, leads participant forums, and ensures that changes are understood and implemented across the network. The role will help build a change-management capability to capture participant feedback, assess the impact of proposed changes, and shorten the path from issue to published rule. It will also prototype and use AI, no-code, and low-code tools to automate parts of rule change, impact analysis, drafting, consistency checking, and feedback synthesis. The position is part of InvestCloud’s work on Altic and its private-markets network.

Requirements

Experience owning a rulebook, scheme rules, market-practice guidance, a technical standard, or an equivalent, and taking it through a change cycle with external parties.
Experience with the governance of rules or standards, including committees, papers, and decision records, is relevant.
Ability to read fund documents, participant agreements, and legal advice and identify the obligations they impose on a network.
Ability to work effectively with internal and outside counsel while recognizing the boundaries between product judgment and legal advice.
Understanding of the private-markets transaction lifecycle, including subscriptions, redemptions, capital calls, distributions, and post-trade servicing.
Understanding of the roles of transfer agents, fund administrators, custodians, and investor-relations teams in private-markets operations.
Ability to translate an agreed legal position into implementable technical requirements and explain system constraints to legal stakeholders.
Sufficient technical understanding to identify when a rule cannot be built as written.
Precise writing skills, including the ability to write unambiguous rules and identify conflicts or unintended effects between clauses.
Ability to present and teach a rulebook, facilitate two-way discussions, and lead working groups and events both virtually and in person.
Ability to build agreement among organizations with competing interests through influence rather than formal authority.
Hands-on interest and experience with AI techniques and comfort using AI, no-code, and low-code tools to prototype solutions.
Comfort working without an established process and taking public ownership of rules that may be challenged.
Attention to detail, sound judgment under pressure, and willingness to revise a position when presented with a stronger argument.

Nice To Haves

Background in a payments, clearing, settlement, or messaging network.
Experience at a network participant or service provider, such as a transfer agent, fund administrator, custodian, GP, or wealth platform.
Alternatives product or operations experience at a firm such as iCapital or CAIS.
Knowledge of the wealth-management channel and managed accounts, including model-driven and portfolio-driven trading.
Legal experience in financial markets, private markets, or funds.
Legal-technology experience.
Knowledge of evergreen, semi-liquid, and interval fund structures.

Responsibilities

Own the Altic rulebook, including its structure, content, versioning, and writing standards.
Own the network’s technical specification and keep it aligned with the rulebook as both evolve.
Own the participant agreement alongside legal, aligning signed obligations with network enforcement.
Maintain the mapping between legal obligations, applicable rules, and expected system behavior.
Ensure rules are applied consistently across participants rather than renegotiated bilaterally.
Formalize the governance process for proposing, assessing, agreeing, and publishing rules, including decision authority and required evidence.
Establish and run the rules committee structure, including membership, cadence, papers, and decision records.
Assess the impact of proposed changes across participants, systems, and existing agreements.
Manage waivers and exceptions, identify recurring requests, and determine whether they indicate a need to revise a rule.
Maintain a defensible record of the rationale for rules.
Present, explain, and defend the rulebook to GPs, wealth managers, service providers, and their counsel.
Conduct rule reviews with participants and work toward agreement.
Design and host participant forums, working groups, virtual sessions, and onsite events.
Develop reference materials, briefings, and Q&A resources to support participant onboarding to the rules.
Coordinate with Business Development and Partnerships so rule discussions support commercial conversations.
Manage the rulebook as a product with users, a release cycle, and a feedback loop.
Prototype and build change-management capabilities to collect feedback, assess impact, and accelerate publication of rules.
Use AI to automate repetitive work such as impact analysis, drafting, consistency checks, and synthesis of participant feedback.
Partner with technical product management and engineering to translate agreed rules into enforceable system behavior.

Benefits

Medical/Rx insurance
Dental insurance
Vision insurance
Disability insurance
Life and AD&D insurance
Flexible Savings Account (FSA)
Health Savings Account (HSA)
Employee Assistance Plan (EAP)
Health advocacy
Voluntary ancillary plans, including accident, critical illness, hospital indemnity, legal, identity theft, auto/home, and pet insurance
401(k) retirement savings plan with company match
Paid time off