M&G on cord

M&G

Delegated Fund Management Oversight Manager

External position
London, UK
Hiring internally for M&G?
Finance · Investment · Real Estate
One of the UK's largest and longest established Investment houses, with more than 90 years' experience.
Posted
a month ago
Checked
cord regularly checks that external positions are still open
13 hours ago

Skills & Experience

Job roles: Business Operations
Experience level: Senior
Core skills considered: Business Analysis, Stakeholder Management
Other skills considered: Risk mitigation, Communication software

Logistics

Base salary: Undisclosed
Some companies on cord are unable to disclose salaries publicly due to internal company policies. Message the company for salary information.
Employment type: Permanent
Remote working: Hybrid
Visa sponsorship: Not available

Job Description

M&G Investment Management (MAGIM) can sub-delegate portfolio management to External Fund Managers within the UK and around the world, in order to meet the strategy and objectives for end clients. In addition, MAGIM can sub-delegate portfolio management or investment advice to its internal overseas offices. The Delegated Fund Management Oversight Team is primarily responsible for initial and ongoing non-investment oversight and due diligence of External Fund Managers (EFMs), for each in-scope sub-delegated fund (portfolio).

The team is MAGIM's gateway for Fund queries, instructions or escalations, which can be received from any of our 12 EFMs or 2 Global Custodians, along with any relevant team within M&G plc. The nature of those can range from investment guideline clarity, issues, breaches errors or support with a Custody matter. Additionally, the team receive requests from EFMs for New Markets or New Instruments and work closely with the Investment Manager Oversight team when assessing such requests before undertaking Due Diligence activities which are required for internal approvals ahead of the Fund's Depositary review.

The team contributed to the RFP for all potential new EFMs and review RFP responses to aid the selection decision. Following which, the team commence detailed Operational Due Diligence on the proposed EFM(s) as per the required concept and strategy provided and assets to be traded, and perform a full non-investment assessment and risk assessment as per the risk appetite levels before making a recommendation to the Board, to appoint the new EFM (in parallel to the Investment Due Diligence).

The role of the Manager is to ensure compliance with the External Fund Management Framework and Supplier Management Framework, by having a full understanding of each EFM and how they must adhere to our requirements and standards set out in the Fund's Prospectus, the IMA and the SLA. Within all activities, assessment against the risk-appetite levels is considered.

The Manager will be expected to continually consider and review aspects of the operating model whilst performing daily duties, and recommend efficiency improvements or control enhancements.

The team is also responsible for the ongoing oversight of internationally sub-delegated investment management and advisory arrangements, performing periodic oversight assessments and reviews of supporting documentation to ensure adherence to MAGIM's governance framework, operational standards, risk appetite, regulatory requirements and control expectations.

The team is also responsible for the ongoing oversight of directly appointed portfolio managers, including segregated mandates managed on behalf of our internal client, ensuring adherence to contractual obligations, operational standards, risk appetite, PRA regulatory requirements and governance standards.

The successful candidate will have exposure to a number of departments and teams across the M&G plc organisation, including the Investment Office, Controls Monitoring, Compliance, Risk, Legal, Product Strategy, Operations and colleagues within Supplier Management, as well as Client Account Managers and Service Relationship Managers at each External Fund Manager and our Custodians. The role does not include NAV or Accounting Oversight activities, which are performed by separate teams.


Key Accountabilities:

  • Work within the Sub-Delegated Funds frameworks, procedures with awareness of Policies (including Third-Party Risk Management and Outsourcing Policy), applying own experience and logic and research or discuss problems with colleagues/SMEs to satisfy the requirement and enabling good customer outcomes
  • Support oversight of MAGIM's international sub-delegation arrangements, including periodic reviews, control assessments, framework adherence and governance reporting.
  • Manage the ongoing non-investment oversight and due diligence activities for directly appointed managers, by our internal client in line with the Supplier Management and Delegated Oversight Frameworks.
  • Review and approve breach reports or facilitate breach and incident management, implementing measures to prevent recurrence whilst in compliance with the Operational Risk Handbook
  • Review and assess Attestations, MI and KPIs and prepare for approvals
  • Monthly reporting to the EFM Oversight Group, Supplier Management Forum and regular reporting to internal boards, committees and forums
  • Represent the team in EFM On/Offboarding Projects and/or Fund Launch Working Groups
  • Manage the Team's Change Log and represent the Head of the team at internal or Custodian Change Prioritisation meetings
  • Manage the Service Review programme for all EFMs including meetings and content
  • Support the annual due diligence process and facilitate ad-hoc enhanced or deep-dive due diligence
  • Analyse, review and risk-assess responses to the Operational Due Diligence Questionnaire
  • Attend on-site visits or virtual calls to obtain clarity from required teams such as Investment Professionals, Operations, Risk and Compliance to fulfil due diligence requirements
  • Recommend, review and/or contribute to SLA and IMA or Investment Guideline changes
  • Maintain industry awareness and regulatory developments for impact to the team or fund

Key Knowledge, Skills & Experience:

  • IMC/IOC or equivalent investment management qualification (desirable)
  • End to end knowledge of fund management processes, from order generation to trading, to post-trade activities
  • Demonstrate understanding of the life-cycle of an equity or fixed income trade, and the workings of futures, options and OTC derivatives within a fund
  • Experience conducting Operational Due Diligence and ongoing oversight of fund management companies, delegated managers or comparable third-party service providers.
  • Knowledge of supplier oversight, outsourcing and third-party risk management frameworks
  • Experience of governance reporting and presenting to committees, boards or senior stakeholders
  • Understanding of investment management operating models and control environments
  • Experience assessing operational risks, controls and incidents within investment management organisations
  • Knowledge of regulatory requirements applicable to delegated, outsourced and sub-delegated investment management arrangements
  • Familiarity with fund structures, delegated investment management arrangements and relevant regulations, including awareness of COLL and outsourcing requirements.
  • Strong analytical skills, critical thinking and natural problem solving mindset, not afraid to challenge
  • Driven, confident self-starter with the ability to work independently, manage competing priorities and collaborate effectively across teams.
  • Strong stakeholder management and influencing skills, with the ability to constructively challenge and engage with senior internal and external stakeholders.
  • Ability to communicate with a range of roles including CIO, COOs, senior management and investment professionals in writing and verbally
  • Excellent attention to detail
  • Enjoys interacting with new people and building relationships
  • Motivated to make a real difference

Role Level Summary:


Experienced colleague: This is a senior analyst role with deep technical accountability for operational delivery and controls. The role does not have people management responsibility but plays a critical role in ensuring safe, accurate and scalable service delivery to Life Company stakeholders.

Delegated Fund Management Oversight Manager at M&G
Position posted a month ago

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Starling Bank on cord

Starling Bank

Full Stack Engineer (ML Ops)

London, UK
FinTech · Banking · Finance
A better bank for everyone
Active
over 6 months ago
Responds to
0% of requests
Responds in
1h 55m
Requests
7 pending

Skills & Experience

Job roles: Full Stack
Experience level: Mid, Senior
Core skills considered: Java, React, Redux, AWS, JavaScript

Logistics

Base salary: £70K - £110K
Employment type: Permanent
Remote working: Hybrid (up to 2 remote days p/w)
Visa sponsorship: Not available

Job Description

Starling is the UK’s first and leading digital bank on a mission to fix banking! Our vision is fast technology, fair service, and honest values. All at the tap of a phone, all the time.

Starling is the UK’s first and leading digital bank on a mission to fix banking! We built a new kind of bank because we knew technology had the power to help people save, spend and manage their money in a new and transformative way.

We’re a fully licensed UK bank with the culture and spirit of a fast-moving, disruptive tech company. We’re a bank, but better: fairer, easier to use and designed to demystify money for everyone. We employ more than 3,000 people across our London, Southampton, Cardiff and Manchester offices.

Our technologists are at the very heart of Starling and enjoy working in a fast-paced environment that is all about building things, creating new stuff, and disruptive technology that keeps us on the cutting edge of fintech. We operate a flat structure to empower you to make decisions regardless of what your primary responsibilities may be, innovation and collaboration will be at the core of everything you do. Help is never far away in our open culture, you will find support in your team and from across the business, we are in this together!

The way to thrive and shine within Starling is to be a self-driven individual and be able to take full ownership of everything around you: From building things, designing, discovering, to sharing knowledge with your colleagues and making sure all processes are efficient and productive to deliver the best possible results for our customers. Our purpose is underpinned by five Starling values: Listen, Keep It Simple, Do The Right Thing, Own It, and Aim For Greatness.

Hybrid Working

We have a Hybrid approach to working here at Starling - our preference is that you're located within a commutable distance of one of our offices so that we're able to interact and collaborate in person. We don't like to mandate how much you visit the office and work from home, that's to be agreed upon between you and your manager.

Our Data Environment

Our Data teams are excited about the value of data within the business, powers our product decisions to improve things for our customers and enhance effective and agile decision making, regardless of what their primary tech stack may be. Hear from the team in our latest blogs or our case studies with Women in Tech.

We are looking for talented data professionals at all levels to join the team. We value people being engaged and caring about customers, caring about the code they write and the contribution they make to Starling. People with a broad ability to apply themselves to a multitude of problems and challenges, who can work across teams do great things here at Starling, to continue changing banking for good.

Requirements

We have built our entire banking platform in house and mostly in Java. We are looking for people who want to work on building the tooling that is used by our engineers on a daily basis.

We are looking for people who are truly full stack, and are as comfortable polishing their javascript front end as they are debugging the innards of their java applications database interactions, or standing up infrastructure with terraform. We are looking for people who can:

  • Design REST apis.
  • Code backend services, ideally using Java, or another other server side compiled language.
  • Develop modern front ends, ideally using React and Redux.
  • Get their code into the cloud and support it there, ideally on AWS.
  • Believe in clean coding, simple solutions, automated testing and continuous deployment.
  • Like to take ownership of a feature from the original idea through to live.
  • Think (like us) that a small number of empowered developers is the right way to deliver software.

Company Benefits

  • 33 days holiday (including flexible bank holidays)
  • An extra day’s holiday for your birthday
  • 16 hours paid volunteering time a year
  • Part-time and/or flexible hours available for most roles
  • Salary sacrifice, company enhanced pension scheme
  • Life insurance at 4x your salary
  • Hybrid/remote working
  • Private Medical Insurance with VitalityHealth including mental health support and cancer care. Partner benefits include discounts with Waitrose, Mr&Mrs Smith and Peloton
  • Generous family-friendly policies
  • Varied social groups set up and run by our employees
  • Perkbox membership giving access to retail discounts, a wellness platform for physical and mental health, and weekly free and boosted perks
  • Access to initiatives like Cycle to Work, Salary Sacrificed Gym partnerships and Electric Vehicle (EV) leasing

Full details are available on our careers site

Interview Process

Interviewing is a two way process and we want you to have the time and opportunity to get to know us, as much as we are getting to know you! Our interviews are conversational and we want to get the best from you, so come with questions and be curious. In general you can expect the below, following a chat with one of our Talent Team:

  • Stage 1 - 30 mins with one of the team
  • Stage 2 - Take home challenge
  • Stage 3 - 90 mins technical interview with two team members
  • Stage 3 - 45 min final with an executive and a member of the people team
Alex Yeates on cord
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