Director - Multi-Asset Due Diligence & Open Architecture
Oversight of internal and external manager due diligence and monitoring of traditional and alternative investment strategies, globally. This position works integrally across the Multi-Asset (MA) division with portfolio managers, solutions strategists, research analysts and product team in supporting monitoring and selection of investment managers. The Director – Multi-Asset Due Diligence & Open Architecture will be responsible for developing and overseeing quantitative and qualitative processes to evaluate and monitor internal and external investment strategies. The Director will lead in developing governance processes, consolidating related due diligence committees, and coordinating operational aspects of integrating external investment managers. The role will participate in all aspects of hiring, negotiating, and onboarding third party managers. The Director will also oversee an external investment consulting relationship used for third-party manager searches, research, and related activities, including operational due diligence. The role also includes coordinating and leading regular engagements with internal and external managers.
Ongoing responsibilities shall include:
- Lead internal and external MA due diligence activities across underlying strategies used within T. Rowe Price multi-asset portfolios.
- Develop and enhance processes to conduct manager selection, oversight, and on-going due diligence.
- Participate as voting member of MA Due Diligence Committee
- Oversee external consulting relationship in supporting third party manager selection and research.
- Oversee existing external hedge fund-of-funds investment, including investment and operational due diligence activities.
- Oversee manager searches, onsite visits, hiring, negotiating activities and support for operational aspects of on-boarding.
- Represent MA division with clients and external parties related to multi-asset due diligence processes and providing updates on internal and external managers.
- Oversee process for coordinating regular meetings with internal and external investment strategies.
1. Due Diligence (50%)
- Oversee due diligence of internal and external underlying strategies/managers.
- Centralize due diligence efforts by consolidating multiple existing due diligence committees.
- Develop best-in-class qualitative and quantitative due diligence oversight process.
- Coordinate with research and risk teams to enhance formal monitoring and reporting on internal and external strategies.
- Represent MA division with clients and consultants as related to due diligence process and oversight.
- Serve as subject-matter-expert on underlying T. Rowe Price and external portfolios’ investment processes, people, performance, external ratings (e.g., Morningstar, Lipper), ESG, etc.
- Establish and maintain regular due diligence reporting.
2. Third Party Manager Search and Oversight (40%)
- Oversee external consulting relationship used for third party manager searches and research.
- Assist in oversight of existing external hedge fund-of-funds strategy.
- Coordinate with internal teams in developing open architecture mandates and responding to RFPs.
- Assist in developing criteria for selecting external managers across a range of asset classes, geographies, and product types.
- Collaborate with product team in negotiating fees, capacity, etc. with external managers and pricing activities related to T. Rowe price mandates that include third party managers.
- Coordinate on operational, legal and compliance related aspects of on-boarding third party managers.
- Oversee activities related to investment management agreements and guidelines for third party managers.
- Assist in establishing relationship with third party managers to source data, performance, commentary, and related materials.
3. Governance (10%)
- Participate as voting member and support Multi-Asset Due Diligence Committee
- Establish and maintain regular reporting process to Multi-Asset Steering Committee (MASC) related to due diligence oversight.
- MBA or Master’s degree in finance, economics, accounting, or a related quantitative field.
- 7-10+ years of experience in institutional asset management and/or investment consulting, preferably with recent leadership and/or a management role.
- Direct experience in investment manager due diligence, manager search and selection.
- Experience with both traditional and alternative investment strategies (e.g. hedge funds, private equity, and direct investments), preferably with experience globally.
- Experience with asset allocation products, portfolio construction and related concepts.
- Experience with risk analytics. (e.g. MSCI/Barra)
- Experience with ESG products.
- Client facing experience. Strong presentations and writing skills.
- Completion of or progress towards CFA or comparable designation or a commitment to obtain the CFA charter in the future.
- A self-starter with strong analytical/communication skills, demonstrated leadership, and ability to “own” initiatives and work in a dynamic environment.
- BA/BS degree in finance or related field, with strong credentials and relevant work experience.
- Strong analytical and problem-solving skills.
- Excellent communication and inter-personal skills with the ability to excel in a dynamic and interactive team environment.
- Ability to work independently as well as a part of a team.
FINRA licenses are not required and will not be supported for this role.
Please note: There is flexibility for this position to be based out of our Washington DC or Baltimore offices and will be in a hybrid capacity.