Fidelity Bank · 4 days ago
Vice President, Private Assets Advisor Oversight and Commercial Negotiations
Boston, MA
Full-time
Hybrid
Senior Level, Lead/Staff
$125K/yr - $258K/yr
10+ years expFidelity Bank is seeking a Vice President, Private Assets Advisor Oversight and Commercial Negotiations to lead critical capabilities related to the engagement of third-party investment managers. This role involves overseeing operational due diligence and fee negotiations while collaborating with various teams to optimize financial terms and mitigate risks.
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Responsibilities
Evolve the current Private Markets operational due diligence program to effectively identify, mitigate and report risks related to third-party manager engagements across asset classes and product structures
Provide recommendations to governance committees
Lead initial Operational Due Diligence with potential investment advisors to evaluate their control environments and perform a thorough operational risk assessment of the firm and products under consideration
Conduct On-going Oversight activities to identify any material risks across the investment advisors and products, which include, but not limited to, preparing manager scorecards and managing ad hoc events
Preparation of Reports and presentations to senior management and oversight boards, including recommended actions
Facilitate Operational Implementation of between third-party managers and internal Fidelity teams
Act as the firm's lead negotiator for complex sub-advisory and third-party agreements, including management fees, performance fees, fee tiers, expenses, and Most Favored Nation (MFN) clauses
Create and manage a firm-wide "negotiation playbook" to ensure a consistent, best-practice approach to all commercial arrangements
Partner with investment teams during the final stages of manager selection to advise on commercial feasibility
Work lock-step with Legal, Tax, Compliance, and Operations to ensure all aspects of an agreement are sound
Lead the re-negotiation of existing agreements as needed
Proactively track and enforce MFN clauses to ensure the firm consistently receives best-in-market pricing
Serve as the firm's subject matter expert on market trends for fees and terms, leveraging internal data and external resources (e.g., Preqin, Genysis, etc.)
Build financial models to analyze the economic impact of various fee structures and term proposals on product profitability
Qualification
Required
10+ years of experience in the asset management industry
Understanding of private markets products operating models and governance structures
Direct, hands-on experience negotiating complex contracts, including sub-advisory agreements across various product structure within the private markets space
Deep understanding of alternative asset fee and expense structures, including management/performance fee mechanics, tiers, and MFNs
Proven ability to lead and influence cross-functional teams, including senior leaders in product, legal, compliance, finance
Strong financial modeling and analytical skills
Excellent written and verbal communication skills, with the ability to distill complex issues into clear, actionable recommendations
Preferred
Operational Due Diligence experience at a bank, asset allocator, fund of funds, or other investment platform is preferred
Knowledge of regulatory environments, including the 1940 Act, preferred
Law degree (JD) or MBA is a strong plus
Benefits
Comprehensive health care coverage and emotional well-being support
Market-leading retirement
Generous paid time off and parental leave
Charitable giving employee match program
Educational assistance including student loan repayment, tuition reimbursement, and learning resources to develop your career
Company
Fidelity Bank
Fidelity Bank is a commercial bank providing services financial sercvices.
1001-5000 employees
Funding
Current Stage
Late StageTotal Funding
unknown2018-12-17Acquired
2014-09-01Private Equity
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