Senior Manager, Due Diligence & Advisory

at  Ontario Teachers Pension Plan

Senior Manager, Due Diligence & Advisory
The opportunity
The Due Diligence Group (“the Group”) is part of the Due Diligence & Advisory Department (“DDA”) within the Finance Division. The Group is responsible for conducting operational due diligence on external managers, and key service providers in support of Teachers’ Investment departments.
The Senior Manager, Due Diligence will primarily be responsible for overseeing or leading the planning and execution of operational due diligence engagements in respect of external managers in accordance with the Board’s External Manager Due Diligence Policy.
The position requires domestic and international travel, including Europe and Asia.
Who you’ll work with
You will interact and build strong relationships with internal and external partners including pension plans and investment managers.

What you’ll do

• Conduct and oversee operational due diligence on external managers and key service providers in support of Teachers’ external manager program.
• For each external manager, develop and understanding of its internal controls; deal / trade process flows; fund transfer, settlement, custody, and valuation processes; performance and risk measurement activities; regulatory and compliance environment; information technology systems and capabilities, cybersecurity programs, as well as business continuity and disaster recovery procedures.
• Deliver operational risk assessments to internal stakeholders including the Director and MD, DDA, as well as the CFO, Investment teams, Legal and others as required.
• Based on the evaluation of each external manager, prepare an assessment outlining key operational risks and potential mitigants.
• Build strong business relationships with internal stakeholders, as well as external partners and advisors to support and deliver upon Teachers’ Investment objectives.
• Ensure exceptional service is provided by proactively addressing concerns / issues and responding to inquiries and requests from the Investment departments.
• Work with various internal departments to ensure the efficient and effective use of resources.
• Ensure best practices are reflected and augmented periodically within the Group to address emerging risks, new investment strategies, and other material developments (including the review and updated of relevant policies and procedures as necessary)
• Liaise with other pension plans, investment managers, and industry participants to develop fulsome understanding of investment strategies and fund structures, discuss industry trends and best practices, as well as various operational and due diligence matters.
• As a natural extension of the Group’s operational due diligence mandate, the Senior Manager will also provide value-added advisory services to internal and external stakeholders, which include but are not limited to:
• External fund operational infrastructure design and support;
• Support of investment program buildouts;
• Market infrastructure analysis;
• Transaction structuring (e.g. operational input into governance structure and legal provisions); and,
• Strengthening internal oversight processes to reduce operational risk.
• You will engage, motivate, develop, and retain a high calibre team; provide leadership and mentoring to the team, coach and develop staff to their full potential.
• Support development of team’s performance goals, prioritize resource deployment, oversee service standards, and ensure consistency of Group deliverables.
• Lead by example and demonstrate Teachers’ values consistently in interactions across all levels of the organization and with external partners.

As part of the Group’s activities, the Senior Manager frequently interfaces with the senior management and executives of internal and external stakeholders. The nature of the relationship with these parties requires a high degree of professionalism, diplomacy, persuasiveness, and the ability to defend one’s position.

• Demonstrate confidence and thoughtfulness in assertions and recommendations; often competing interests and expectations of various departments need to be weighed, evaluated, and thought through. In principle, the position is a key control in preserving and protecting the Board’s interests and in highlighting key external risks that are not otherwise obvious to Board staff and key decisions makers.
• Identify solutions to mitigate operational and reputational issues both in support of partners and in delivery of risk assessments to Investment stakeholders.

What you’ll need

• Relevant university degree(s) – Finance, Accounting, Commerce
• A master’s degree in finance and/or accounting, CPA, CFA, CAIA, or other equivalent designations is an asset
• Strong knowledge and understanding of different public and private market investment strategies, public market infrastructure, and supporting operational processes and systems.
• Understanding of deal / trade lifecycles (deal / trade execution, settlement, pricing and valuations, reconciliations, investment reporting, performance measurement, fee and NAV calculation, risk measurement)
• Knowledge of best practices related to cybersecurity, technology infrastructure, business continuity, disaster recovery planning.
• Knowledge of regulatory environment for investment managers operating in major jurisdictions.
• Extensive professional work experience (8+ years) postgraduate.
• Direct experience in the alternative investment industry (hedge fund, private equity, venture capital, private credit) an asset (8+ years)
• Investment operations, middle office, and/or fund accounting experience in a management role an asset (8+ years).
• Successful track record in leadership and people management.
• Experience in evaluating and improving internal control processes.
• Experience in preparing formal documentation and presentations, as well as communicating materials to senior management.
• Experience in change management, strategic planning, continuous improvement.

• Conduct and oversee operational due diligence on external managers and key service providers in support of Teachers’ external manager program.
• For each external manager, develop and understanding of its internal controls; deal / trade process flows; fund transfer, settlement, custody, and valuation processes; performance and risk measurement activities; regulatory and compliance environment; information technology systems and capabilities, cybersecurity programs, as well as business continuity and disaster recovery procedures.
• Deliver operational risk assessments to internal stakeholders including the Director and MD, DDA, as well as the CFO, Investment teams, Legal and others as required.
• Based on the evaluation of each external manager, prepare an assessment outlining key operational risks and potential mitigants.
• Build strong business relationships with internal stakeholders, as well as external partners and advisors to support and deliver upon Teachers’ Investment objectives.
• Ensure exceptional service is provided by proactively addressing concerns / issues and responding to inquiries and requests from the Investment departments.
• Work with various internal departments to ensure the efficient and effective use of resources.
• Ensure best practices are reflected and augmented periodically within the Group to address emerging risks, new investment strategies, and other material developments (including the review and updated of relevant policies and procedures as necessary)
• Liaise with other pension plans, investment managers, and industry participants to develop fulsome understanding of investment strategies and fund structures, discuss industry trends and best practices, as well as various operational and due diligence matters.
• As a natural extension of the Group’s operational due diligence mandate, the Senior Manager will also provide value-added advisory services to internal and external stakeholders, which include but are not limited to:
• External fund operational infrastructure design and support;
• Support of investment program buildouts;
• Market infrastructure analysis;
• Transaction structuring (e.g. operational input into governance structure and legal provisions); and,
• Strengthening internal oversight processes to reduce operational risk.
• You will engage, motivate, develop, and retain a high calibre team; provide leadership and mentoring to the team, coach and develop staff to their full potential.
• Support development of team’s performance goals, prioritize resource deployment, oversee service standards, and ensure consistency of Group deliverables.
• Lead by example and demonstrate Teachers’ values consistently in interactions across all levels of the organization and with external partners