Operational Due Diligence Associate

  • $85K + Bonus
  • New York, NY, USA
  • Permanent, Full time
  • Park Avenue Partners
  • 14 Jan 19

Our client is a leading investment firm who is seeking an individual who will assist in performing a rigorous due-diligence process across all pre-existing clients, as well as, potential new investment managers. Overall, this is a role that offers the opportunity to analyze, evaluate, and engage with hedge fund managers based in North America, as well as interface with colleagues across the globe. Our investment process combines the public market and financial analysis characteristic of hedge fund investing with the strategic thinking of private equity

Responsibilities:

  • Primary responsibilities will include:
  • Working with the team to perform due diligence on prospective hedge fund investments. This will include meetings with the hedge fund manager and their team, reference checks, strategy research and quantitative track record analysis.
  • Thoroughly documenting all steps in the due diligence process culminating in writing the Manager Investment Review (MIR)  
  • Monitoring of existing hedge fund relationships, which include regular conversations with different levels of contacts at the firm, tracking key positions, themes and exposures in the portfolio, assessing the impact of any organizational changes, and continuously challenging the validity of firm’s investment thesis.
  • Writing up notes from these conversations and Front Office visits.
  • Thinking critically about how various market factors impact strategies broadly and making recommendations regarding different styles of investing, given the current environment and future expectations.
  • Thinking creatively about ways to improve the team’s existing due diligence process, helping ensure quality, consistency and thoroughness in their approach.

 

Qualifications:

Looking  to hire individuals who are highly motivated, intelligent and have demonstrated excellence in prior endeavors. In addition to strong analytical and quantitative skills, the successful candidate should have:

  • Bachelor’s degree or equivalent in Accounting or related analytical field required.
  • 2-4 years of experience in the alternative investment industry as auditor of hedge funds at a public accounting firm required. 
  • Experience with financial statement reporting, financial instruments (including equities, bonds, forwards, CDS and bank debt), operational/accounting processes and hedge fund structures and strategies required.
  • Experience should include reviewing accounting records, pricing reports, and supporting broker quotes/valuation documentation and bookkeeping processes of investment managers, as well as experience analyzing financial statements and performing fee calculations.
    Superior communication skills, including a demonstrated ability to write effectively
  • A desire to work in a team environment often under pressure
  • Strong financial modeling skills and the ability to deconstruct a hedge fund’s historic returns
  • A passion for markets, and an understanding of different approaches across asset classes
  • An ability to manage ad hoc projects independently and to completion