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MG
Mgpru

Delegated Fund Management Oversight Manager

LocationLondon
Typefull-time
EquityIncluded
Company size10,000+ people
First seen6d ago
Last seen2d ago
About the company
At M&G, our purpose is to give everyone real confidence to put their money to work. With a heritage dating back more than 175 years, we have a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions.
Our two distinct operating segments, Asset Management and Life, work together to provide access to balanced, long-term investment and savings solutions.
Through telling it like it is, owning it now and moving it forward together with care and integrity; we are creating an exceptional place to work for exceptional talent.
Benefits
We will consider flexible working arrangements for any of our roles and offer workplace adjustments to ensure you have the support you need to succeed in your role.
The Role:
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.
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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.
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Review and approve breach reports or facilitate breach and incident management, implementing measures to prevent recurrence whilst in compliance with the Operational Risk Handbook
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Review and assess Attestations, MI and KPIs and prepare for approvals
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Monthly reporting to the EFM Oversight Group, Supplier Management Forum and regular reporting to internal boards, committees and forums
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Represent the team in EFM On/Offboarding Projects and/or Fund Launch Working Groups
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Manage the Team’s Change Log and represent the Head of the team at internal or Custodian Change Prioritisation meetings
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Manage the Service Review programme for all EFMs including meetings and content
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Support the annual due diligence process and facilitate ad-hoc enhanced or deep-dive due diligence
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Analyse, review and risk-assess responses to the Operational Due Diligence Questionnaire
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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
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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)
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End to end knowledge of fund management processes, from order generation to trading, to post-trade activities
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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
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Experience conducting Operational Due Diligence and ongoing oversight of fund management companies, delegated managers or comparable third-party service providers.
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Knowledge of supplier oversight, outsourcing and third-party risk management frameworks
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Experience of governance reporting and presenting to committees, boards or senior stakeholders
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Understanding of investment management operating models and control environments
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Experience assessing operational risks, controls and incidents within investment management organisations
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Knowledge of regulatory requirements applicable to delegated, outsourced and sub-delegated investment management arrangements
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Familiarity with fund structures, delegated investment management arrangements and relevant regulations, including awareness of COLL and outsourcing requirements.
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Strong analytical skills, critical thinking and natural problem solving mindset, not afraid to challenge
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Driven, confident self-starter with the ability to work independently, manage competing priorities and collaborate effectively across teams.
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Strong stakeholder management and influencing skills, with the ability to constructively challenge and engage with senior internal and external stakeholders.
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Ability to communicate with a range of roles including CIO, COOs, senior management and investment professionals in writing and verbally
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Excellent attention to detail
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Enjoys interacting with new people and building relationships
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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.
What we offer:
We’re dedicated to supporting your wellbeing and helping you thrive, both at work and beyond. Our benefits are designed to help you balance your professional and personal life**,** and financially plan for the future. Our UK benefits include:
•
A valuable pension scheme of up to 18% (13% made up of employer contributions and 5% employee contributions).
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Access to our Share Save and Share Incentive Plan, alongside financial wellbeing and support services to help give you real confidence to put your money to work.
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Enjoy 38 days annual leave (including bank holidays), with the opportunity to purchase up to five extra days. Our Time Off When You Need It policy gives you the flexibility - to balance work and personal commitments.
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Our market-leading Inspiring Families policy includes comprehensive support and paid parental leave covering maternity, adoption, surrogacy, and paternity leave - because supporting families is an important part of our inclusive culture.
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Health & Protection cover includes Private Healthcare, Critical Illness cover and Life Assurance for you, with additional family options - for peace of mind.
To explore more about life at M&G and our full benefits offering, visit Life at M&G
Legal
At M&G we strive to have a diverse workforce and an inclusive culture, underpinned by our policies and employee-led networks that offer networking, support and development opportunities for the diverse communities our colleagues represent. We welcome applications from people of all backgrounds – across gender, ethnicity, age, disability, sexual orientation and more – including neurodivergent individuals, career returners and those with military service experience.
M&G is proud to be Level 3: Disability Confident Leaderunder the UK Government Disability Confident employer scheme, and we welcome applications from candidates with disabilities and long-term health conditions. If you would like to participate in the initiative, you will have the opportunity to indicate this on your application.
We are committed to providing an inclusive recruitment process. All candidates have the opportunity to request reasonable adjustments when applying. If you need any additional support at any stage, please contact us at: [email protected]
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