Middle Office Executive - Hedge Fund Start-Up (Quantitative Equity L/S Fund) - Career Opportunity!

  • £55,000 plus bonus and benefits
  • London, England, United Kingdom
  • Permanent, Full time
  • Carnegie Consulting
  • 15 Dec 17 2017-12-15

My client is launching a Quantitative Equity L/S fund and are keen to stress that they are looking to build a growing asset management business, rather than just one fund. This role represents an opportunity to play a key part in the growth of this Mayfair based alternative fund, and, take the lead operationally focused role in the business. You must be excited about working for a new start-up and relish the challenge that this will undoubtedly provide - role for the career minded. In terms of experience you will have middle office / operations experience from a hedge fund.

The Opportunity:

  • This a brand new opportunity working for a new Mayfair based boutique alternative asset management business that is in the process of launching its first Luxembourg domiciled fund
  • The founders are two entrepreneurial, well respected and highly experienced Financial Services professionals who are realising their dream of building an asset management business
  • The initial fund launched will be an algorithmic Equity Long / Short fund, holding approximately 150 positions predominantly across the G7 countries (ensuring liquidity), also investing in currencies to hedge against currency risk
  • My client’s businessis FCA registered and the fund will be white labelled and sold through a pre-eminent Swiss Bank thereby maximising their asset raising potential
  • Within this role you will take ownership of ALL middle office and operational duties, ensuring everything post trade is compliant and in order, monitoring margining, liaising with the administrator / PBs / Custodians and ensuring all reconciled trade breaks are investigated and resolved, calculating a timely shadow NAV and ensuring the accuracy of the valuation calculated by the third party etc. ...

Specific duties include:

  • Monitoring daily remittance of trade files sent to custodian and fund administrator (automatic done by OMS/PMS platform);
  • Monitoring all settlement, corporate action and P&L activity;
  • Reconciliation of stock and cash positions;
  • Ensuring all fund related expenses are properly reflected in the PMS system;
  • Verifying the accuracy of the management fee calculation prepared by the custodian;
  • Calculating a shadow NAV in the OMS/PMS platform to ensure the valuation is in line with the official publication;
  • Reporting all end of day active breaches to the management company;
  • Supervising the collateral management process performed by the custodian and CFD broker;
  • Instructing monthly cash payments for the CFD resets;
  • Updating the website with any new fund documentation (KIID’s and prospectus), monthly fact sheet, newsletter and business guidelines;
  • Ensuring the UCITS fund library is up to date and generates accurate pre and post trade compliance reports;
  • Liaising with IT, data vendor, brokers, custodian, fund administrator and OMS/PMS provider to ensure smooth trade flow and quick resolution to any issues.
  • Coordinating trade and settlements testing between OMS/PMS provider, custodian and brokers;
  • Defining with brokers and custodian on cash payment instructions, reporting frequency, systems access, trade flow management and CFD monthly reset procedures;
  • Monitoring 3rd party implementation of trading (FIX) and operational (SFTP) connectivity between brokers, data vendor, custodian and OMS/PMS platform;
  • Liaising with IT provider on all hardware orders / installation and software related queries and updates.

 

Your Experience:

  • You will have a strong record of academic achievement demonstrating a strong numerical ability, along with perhaps further academic / Professional Qualifications that reinforce your interest in Finance and the Hedge Fund industry
  • In terms of experience you will be an “all-rounder” with a breadth of operational experience from an alternative asset manager. My client is considering candidates ranging in experience from salaries of £40,000 to £55,000, so, candidate “quality” is key rather than necessarily length of experience
  • You must be able to demonstrate an understanding of the full life-cycle of a trade and have experience of resolving issues post trade, as well as understanding of P&L, how to verify a NAV, Corporate Actions etc. …
  • My client is prepared to be flexible around which specific asset classes you’ve been exposed to
  • Due to the fact that this fund is in “launch” mode, you must be excited about the prospect of being involved with a firm at these early stages, and, have a “value-add” and “can-do” mind set
  • Strong IT skills would be useful (especially Excel) with the ability to manipulate large datasets as well as create efficiencies. Knowledge of using front office order management systems as well as middle office trade reporting systems

Knowledge of all or some of the below would be highly advantageous:

  • Broadridge OMS/PMS (formerly known as Paladyne)

  • UCITS – Luxembourg

  • RBC- Custodian / Administrator

  • Morgan Stanley – Broker

 

The Company:

  • A new Algorithmic Equity L/S hedge fund; UCITS compliant; Mayfair based and domiciled in Luxembourg
  • You will be involved from the early stage of its inception and future growth and therefore there is an opportunity to really feel the impact of your work
  • This is the planned start of building a Fund Management business and as such this role offers a potentially fantastic long-term career development opportunity