Waystone employees are expected to demonstrate the organisation’s core competencies and values. The Associate Director – Investment Risk, Real Assets has specific responsibilities that must be performed consistently with these expectations. Waystone expects all employees to be high-performing, self-motivated learners and leaders..
Summary: The Associate Director will support the Investment Risk function through oversight of real asset investment strategies, including property, infrastructure, private debt, private equity and other alternative assets. The role is responsible for providing effective oversight and challenge of delegated investment managers, monitoring investment, liquidity and valuation risks, supporting product development initiatives, and contributing to regulatory and governance frameworks. A strong understanding of real asset fund structures, valuation methodologies, liquidity management and applicable fund regulations is essential.
DUTIES AND RESPONSIBILITIES
- Providing oversight and challenge to delegated investment managers on investment strategy, portfolio construction, liquidity, leverage, valuation and risk management matters.
- Reviewing and monitoring key investment, liquidity, concentration, leverage and valuation risk indicators across real asset portfolios.
- Assessing liquidity risk and reviewing liquidity stress testing frameworks and outcomes for real asset funds.
- Reviewing valuation methodologies, assumptions and outputs for real asset investments and supporting valuation governance processes.
- Assessing valuation events and supporting the determination of fair value prices where appropriate, including documenting the rationale and supporting governance decision-making.
- Monitoring compliance with regulatory, prospectus and investment management agreement restrictions, reviewing investment guideline and regulatory breaches, challenging proposed remediation, and supporting escalation through the appropriate governance channels.
- Preparing and presenting risk, valuation and compliance reporting and providing subject matter expertise to governance committees, boards and clients.
- Leading periodic due diligence reviews of delegated investment managers, including assessment of investment, risk management, valuation and governance arrangements.
- Supporting the launch of new products and material fund changes by assessing investment risk, liquidity, leverage, valuation and operational considerations.
- Participating in fund approval, due diligence and onboarding processes for delegated investment managers, strategies and products.
- Engaging with investment managers, administrators, depositaries, valuers, auditors and legal advisers on investment risk and oversight matters.
- Supporting the preparation and review of regulatory reporting and regulatory submissions as required.
- Monitoring regulatory developments affecting real asset funds and supporting implementation of enhancements to risk and oversight frameworks.
- Contributing to the ongoing development of investment risk policies, procedures, management information and oversight methodologies.
- Providing technical guidance and mentoring to junior members of the Investment Risk function.
REQUIREMENTS
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.
Education:
- A bachelor’s degree in finance, business or a related discipline, or equivalent relevant professional experience, is required.
- A master’s degree in finance, mathematics or a related discipline would be desirable but is not a requirement.
Experience:
- A minimum of seven years’ experience in investment risk, fund oversight, investment management, valuation, real assets or a related financial services role.
- Strong understanding of real asset investments including property, infrastructure, private debt, private equity and other illiquid asset classes.
- Strong knowledge of UK and European fund regulation, including AIFMD and FCA requirements applicable to alternative investment funds.
- Experience overseeing real estate, infrastructure, private credit, private equity or other illiquid asset strategies within an ACD, ManCo, asset manager, allocator or advisory environment.
- Experience reviewing real asset valuation methodologies and governance arrangements.
- Experience assessing liquidity risk and liquidity management frameworks for less liquid asset classes.
- Experience challenging delegated investment managers and presenting findings to governance committees.
- Professional qualification (CFA, CAIA, FRM, ACA or equivalent) preferred.
- Strong stakeholder management and communication skills, including experience interacting with boards, investment managers and service providers.