A senior member of the Investment Finance department,  and key partner to the Investments Division supporting the external manager program, providing valuable services and support to the Investment Division and the CFO through the External Manager Program via assessing organizations for their enterprise risks and providing assistance to the overall governance function at OTPP.  The OTPP External Manager program is one of the most varied with wide extent and breadth (variety of asset classes, structures and sizes); the program is integral to the success of the Investments program.

A candidate will be primarily responsible for understanding and conducting operational due diligence with respect to external managers in accordance with the Board’s External Manager Due Diligence Policy.  Key responsibilities include planning operational due diligence meetings, reviewing the business operations of existing and newly formed external managers by gaining an understanding of their key business operations, quality of personnel, operational strategy, technology solutions, and their governance and oversight models.. As part of the process a candidate will frequently interface with the senior management of the firms (CFOs, CCO, etc).

A candidate will be responsible for preparing a written analysis of the operational risks and presenting findings internally to the senior members of the Investment Finance and Investment teams inclusive of presenting these findings and assisting the Investments and Legal teams to execute the transactions.  Additionally, a candidate will be responsible for participating in the review of external service providers including fund administrators, valuation agents and prime brokers.  The candidate will have responsibilities within their purview including specified external manager relationships and service providers as well as be expected to mentor junior staff and provide oversight functions.  Interaction with senior management internally and externally in the industry and with target firms is integral to the role.

1.    Conducts operational due diligence in respect of external managers and key service providers:

§ assesses the internal control environment

§ assesses risk with regards to the  regulatory and compliance environment

§ assesses back office systems and key operational processes including trade life cycle, cash and collateral management, accounting, counterparty management, valuation, business continuity planning, and so forth.

§ interviews the operations personnel, and assess their skill and credibility

2.    Conducts monitoring in respect of external managers and key service providers:

§ monitoring of current investments identifying key changes with respect to staffing, controls, systems, and other material operational risk issues

§ responds to inquiries and requests from the Investment Division

3.    Assists the Investment Division in their implementation and structuring of new investments including coordinating with our internal departments.

4.    Develops and maintains a high level of knowledge with respect to industry developments, standards and best practices related to:

§ Full range of financial instruments and capital markets activities

§ Investment / hedge fund strategies

§ Financial accounting and disclosures

§ Internal controls

§ Operational risk management

§ Information systems and technology

·         Relevant university degree (s)

·         Chartered Accountant, CFA or other investment related designation is a valuable asset

·         Extensive professional work experience (8+ years) post CA qualification

·         Managerial talent and proven leadership ability, demonstrated through managing direct reports or supervising the work of others

·         Investment operations and/or middle office experience in a management role (6+ yrs) is a valuable asset – e.g. trade processing, settlement, pricing & valuations, reconciliations, investment reporting, performance measurement, risk measurement, database maintenance, disaster recovery planning, etc.

·         Experience in evaluating and reporting upon internal control processes considered an asset

·         Experience in writing and presenting reports to senior management and to Boards of Directors (or Audit Committees)

·         Experience interacting with senior management and external advisors and auditors

·         Effective planning and organizational experience to set departmental and corporate priorities and co-ordinate projects to meet deadlines

·         The ability and the confidence to interact with senior management in Hedge Funds, quickly establish credibility and persuasively manage the due diligence discussions to meet with policy and Board objectives

·         Exceptional written and verbal skills