Senior Operations Specialist – Product Team, Investment Management recruitment
Mercer is a global leader in human resource consulting, outsourcing and investment services, with more than 25,000 clients worldwide. Mercer consultants help clients design and manage health, retirement and other benefits and optimize human capital. The firm also provides customized administration, technology and total benefit outsourcing solutions. Mercer's investment services include global leadership in investment consulting and multimanager investment management.
In Ireland, Mercer employs over 600 employees in offices based in Dublin, Cork and Limerick.
Background:
Mercer Investment Management (MIM) is Mercer's investment management arm. Investment is via Mercer Investment Management's own mutual fund range, the majority of which are structured as multi-manager, multi-class Funds. Investment Management hires third party managers, from Mercer Investment Consultancy's list of A rated managers in each asset class thus combining Mercer's in-house portfolio management expertise with the depth and breadth of Mercer Investment Consultancy's global investment manager research. The Investment Management fund range launched in Europe in September 2006 and currently consists of 47 Irish domiciled funds across 4 differing legal structures (UCITS, PIF, QIF QIF CCF).
With increasing burdens being placed on Trustees (regulatory, more complexity, cost pressures etc), we believe that the market for implemented investment solutions will continue to grow rapidly over the coming years and this is a unique opportunity to join the team that will be at the forefront of this market for Mercer in Europe.
Summary of MIM Operations Team:
The MIM Ops team currently consists of 16 team members. There are 3 sub teams, which all report into the MIM COO for Europe :
- A Dublin based Head of Operations, Ireland
- A Dublin based Day to Day Operations team currently consisting of 6
- A Dublin based Product Team currently consisting of 3
- A London based Head of Operations, London
- A London based MDDS Operations team currently consisting of 3
- A London based Client Take on Specialist
- 1 x Project based Resource currently working on the implementation of a new business proposition
This Senior Operations Specialist role relates specifically to the MIM Operations Product Team. The MIM Ops Product Team have responsibility for the project management and implementation of all new product / fund launches and any restructures to existing funds. This involves coordinating all internal and external parties (investments, legal, compliance, operations, sales, and finance), project managing all required steps to ensure all risks are covered to allow for a successful launch. Additional projects will arise as the growth of the business dictates whether it is entry into new markets, development of new propositions / products, new fee structures or market research.
Specific Duties and Responsibilities:
Senior Operations Specialist
- To deliver all fund related projects assigned on time in a risk controlled manner, identify key issues requiring escalation and resolution and provide a full audit trail.
- Take ownership and responsibility for project managing any new fund launches or restructures to existing products (both alternative and non-alternative funds) to ensure a timely, efficient and accurate fund launch / restructure - this will include:
- working closely with our Investment team, lawyers both internal and external to draft new fund prospectuses and or sub fund supplements
- working closely with the fund Custodian and Administrator
- identifying issues but also offering and putting forward ideas and solutions
- compiling and maintaining all required new fund / product launch documentation - new fund questionnaire, detailed project plan, weekly status report, issues log
- participation at weekly fund launch/ restructure calls providing current status of all ongoing projects
- assisting in the preparation of the new product / fund launch approval documentation and securing the required global product committee approvals
- assessing and signing off on all costs relating to the new fund launches
- ensuring at all times strict adherence to procedures and required peer review and sign off
- Product/ Fund maintenance - ensure any legal and regulatory changes that affect our funds are communicated to the relevant parties and the necessary steps taken to update our procedures and the fund documentation - i.e. UCITS IV
- Other on going project involvement - take ownership and responsibility for other ongoing projects assigned - entry into new markets, market research, product/ proposition development etc.
- Liaise with our tax advisers on a range of tax issues impacting the funds in particular withholding taxes and VAT.
- Provide support to the Manager of the Product Team on operational change, risk management and overall operational planning.
- Develop and implement appropriate risk controls and procedures and ensure all parties are adhering to these procedures and controls
- Develop a strong relationship with both internal and external parties so as to be a key point of contact.
Skills
Requirements
- A graduate or relevant professional qualification with at least 6 years experience in Investment Management.
- Prior experience project managing new fund / product launches essential.
- Knowledge of taxes such as withholding taxes and VAT impacting Funds.
- Professional and proactive approach to work.
- Strong organisational and project management skills.
- Accuracy and attention to detail key requirements
- Excellent interpersonal skills to communicate with internal and external clients at all levels.
- Detailed technical knowledge of fund structures, parties to the fund and the differing fund types.
- Detailed technical knowledge of alternative assets / fund types and derivatives.
- A solid understanding of regulatory and legal structures in relation to the Irish funds industry.
- Understanding of operational and reputational risks in a fund and the operational control environment required to manage these risks.
- Highly driven and disciplined.
- Ability to work effectively within a small, fast growing team and assist in the leading, managing and development of that team.
- Fluent English essential.
- Excellent IT skills including the Microsoft Package.