Man Group is one of the world’s largest independent alternative investment managers, and a leader in high-alpha, liquid investment strategies. Across its four investment managers (Man AHL, Man FRM, Man GLG and Man Numeric), Man Group has a diverse offering in hedge funds and long only products across equity, credit, managed futures, convertibles, emerging markets, global macro and multi-manager solutions. At 31 March 2016, Man Group’s funds under management were $78.6 billion.
The original business was founded in 1783. Today, Man Group plc is listed on the London Stock Exchange under the ticker EMG.L and is a constituent of the FTSE 250 Index.
Man Group also supports many awards, charities and initiatives around the world, including sponsorship of the Man Booker literary prizes. Further information can be found at www.man.com.
Man FRM is the largest independent alternatives specialist with $12.1 billion funds under management and a predominately institutional client base. FRM is responsible for open-architecture hedge fund and alpha strategy solutions for institutional investors, including fund of hedge funds, client advisory solutions, outsourced research and consulting. A significant part of FRMs business is through the use of managed accounts (MACs), with FRMs managed account platform ranking 3rd with $8.9 billion AUM.
The role sits within the FRM MAC Middle Office (MO) team which is part of the Man FRM business unit. The MAC MO team is responsible for day to day operational oversight of the MACs and ensuring service levels are maintained by external service providers, primarily Administrators.
The role involves the relationship management function with an Administrator, to ensure required changes and developments are delivered and ongoing service levels are maintained. The team has responsibility for the maintenance of various information sources in relation to the FRM MACs and associated report production including internal, client facing and regulatory reporting.
- Develop understanding of the Administrators processes, procedures and controls; monitor and ensure any issues identified are investigated and resolved. Participate in on-going due diligence of service providers
- Develop the service provider monitoring and relationship role; day to day oversight of service levels and deliverables from the Administrator ensuring SLAs are fulfilled, KPIs and KRIs monitored;
- Ensure all day to day operational procedures in relation to the FRM MACs are achieved according to deadlines
- Support the FRM business in relation to the MACs. Support the lifecycle events of the MACs, including launches, liquidations and changes within the MAC. Resolution of issues associated with the operation of MACs
- Review NAV packs, audited financial statements and other reporting from administrators; identification and resolution of issues
- Ensure that during the set up and launch of a new MAC all Administrator functions are set up correctly, including all fee, accounting and reporting requirements
- Communicate and liaise with internal (Man) and external stakeholders
- Produce periodic reports including internal, client and regulatory reports. Maintain MAC information across the FRM systems, ensuring accuracy of information
- Develop procedures and controls associated with set up, maintenance and reporting of MAC related information. Contribute to the process of continually improving the controls/procedures associated with the MAC environment
- Degree calibre or equivalent
- Strong accounting background; familiarity with NAV packs, financial statements and accounting practices
- Taking a control view looking for opportunities to improve/automate processes and controls. Anticipate risks and identify ways of mitigating them
- Ability to identify issues in relation to quality and reliability of information
- Knowledge of financial instruments
- Highly proficient in Excel, data manipulation, pivot tables etc.
With FRM seeing significant growth in its managed account platform offering to large institutional investors, this role provides an opportunity to join the MAC Middle Office team who are responsible for oversight of the operational services provided to these clients, with potential to be directly involved in service delivery and reporting to these clients.
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