Delegated Fund Management Oversight Manager

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.

We will consider flexible working arrangements for any of our roles and also offer work place accommodations to ensure you have what you need to effectively deliver in your role.

The role:

The role of the Manager is to ensure adherence to several Frameworks including The Delegation of Portfolio Management to External Fund Managers Framework, by having a full understanding of each EFM’s operating model, objectives, assets held and how they must comply with our requirements and standards set out in the Fund’s Prospectus, the IMA and the SLA. When undertaking activities, assessment against the risk-appetite standards is considered.

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

Internally Sub-Delegated portfolios for investment management or investment advisory to international offices require the team to perform periodic oversight assessments and review of documentation of the adherence to MAGIM’s central Framework.

The successful candidate will have exposure to a number of departments and teams across the M&G plc organisation, including the Life Investment Office and Asset Management including Controls Monitoring, Compliance, Risk, Operations, as well as Client Account 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 within the Group, although we do interact with those teams.

Key Responsibilities:    

• Work within the Sub-Delegated Funds Frameworks and Policies (such as the Third-Party Risk Management and Outsourcing Policy), applying own experience and logic or research and discuss problems with colleagues/SMEs to obtain what is necessary to enable a good customer outcome.
• Manage the EFM Shared Mailbox ensuring daily targets are met or escalated
• Facilitate breach and incident management, and approve Breach/Price Error reports
• Analyse and assess monthly Attestation returns, KPI reports and MI, identify issue trends and follow-up actions. Implement fixes ahead of monthly approval meetings with the Head of the team
• Ensure the Monthly reporting suite is up to date prior to deadlines, for onward reporting to the Supplier Management Forum, EFM Oversight Group, internal Boards and Committees
• Manage the Service Review Meetings with the Lead Custodian and collaborate with all internal colleagues/stakeholders of the Lead Custodian to share and discuss experiences
• Manage the regular Service Review programme for all EFMs including agendas and content/output
• Ensure all Notifiable Events and/or control failures are logged and actioned within the system
• Maintain standard operating models and lead on the annual SLA & Attestation review
• Contribute to the IMA or other relevant documentation.
• 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
• Maintain industry awareness and regulatory developments for impact to the team or fund
• Represent the Head of the Team at internal governance meetings or workshops when required

Key Knowledge, Skills & Experience:

Essential:

• IMC/IOC or equivalent
• End to end knowledge of fund management processes, from order generation to trading, to post-trade activities including custody
  • 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
• Involvement with Due Diligence for Fund Management companies or comparable Suppliers
• Familiarity with fund structures and related regulations and awareness of COLL
• Strong analytical skills, critical thinking and natural problem solving mindset, not afraid to challenge
• Driven, confident self-starter. At ease in taking initiative to progress
• Ability to communicate verbally and in-writing to a wide range of people including C-Suite, senior managers, investment professionals, operations
• Excellent attention to detail
• Enjoys interacting with new people and building relationships
• Competent with managing multiple priorities

Desirable

• Prior experience servicing Portfolio Managers within a Front Office role
• Demonstrable use of Copilot
• CFA Level 1

Recruiter: Sarah Hawkins

What we offer:

At M&G, we’re committed to helping you thrive and supporting your wellbeing, both at work and beyond. Our benefits are designed to help you balance your professional and personal life, while planning confidently for your future. Our UK benefits include:

• As a savings and Investments firm we are proud to offer a valuable pension scheme of 18%, with 13% made up of Employer Contributions and 5% Employee Contributions. We also offer Share Save and our Share Incentive Plan, together with access to financial wellbeing and support services - to help give you real confidence to put your money to work.

• Enjoy 38 days annual leave including bank holidays, with the opportunity to purchase up to 5 extra days and additional flexibility through our Time Off When You Need It policy – to balance your work and personal commitments.  

• Our market leading Inspiring Families policy includes comprehensive support and paid parental leave covering maternity, adoption, surrogacy, and paternity leave - as supporting families is a core aspect of our inclusive culture.

• Health & Protection cover including Private Healthcare, Critical Illness cover and Life Assurance for you, with family options - for peace of mind.

To explore more about life at M&G and our full benefits offering, visit Life at M&G

We have a diverse workforce and an inclusive culture at M&G, underpinned by our policies and our employee-led networks who provide networking opportunities, advice and support for the diverse communities our colleagues represent. Regardless of gender, ethnicity, age, sexual orientation, nationality, disability or long term condition, we are looking to attract, promote and retain exceptional people. We also welcome those who take part in military service and those returning from career breaks.

M&G is also proud to be a Disability Confident Leader, and we welcome applications from candidates with long-term health conditions, disabilities, or neuro-divergent conditions. 

If you need assistance or an alternative means of applying for a role due to a disability or additional need, please let us know by contacting us at: [email protected]