Operational Due Diligence Associate

Prime Quadrant Corp is currently seeking an exceptional individual to join our team as an Operational Due Diligence Associate. You will be working on the Investment Team and reporting to the Head of Investments. We believe that we can gain a deeper, more holistic understanding of the merits and risks of an investment by conducting Operational and Investment Due Diligence within one team. In this role, you will be responsible for the initial and on-going operational due diligence of external third-party investments across all asset classes including Public Equity, Private Equity, Private Credit, Real Assets, Hedge Funds and Fixed Income. The ideal candidate will have 2-5 years of experience conducting Operational Due Diligence (“ODD”) across both public and private markets.

Prime Quadrant is a fast-growing firm, and this role will provide an excellent opportunity for an individual who is looking to broaden their experience and responsibilities beyond ODD. The successful candidate will have a strong work ethic and be willing to work across departments on a variety of projects outside of your core responsibilities. This role is at the heart of our goal to empower families for the future.

Primary Responsibilities

• Lead ODD assessments of external fund managers, including analysis of key documents (offering materials, financial statements, compliance documentation, legal documentation and policies and procedures) in addition to on-site meetings with managers (both in person and virtual). You will be working alongside your Investment Team colleagues as they conduct investment due diligence.
• Prepare summary ODD reports which will include a review of all relevant areas including personnel, processes, systems, trade capture, valuation, counterparty risk, accounting and financial reporting, risk management, performance measurement, documentation, compliance, disaster recovery and cyber security.
• Actively participate in Investment Committee meetings where you will be required to discuss the operational merits and risks of investments brought to the Investment Committee by the Investment Team.
• Monitor current investments from an ODD perspective. Review and maintain up to date information and documentation in our internal databases.
• Continue to look for ways to automate processes and help make the firm more efficient.
• Act as a bridge between the Investment Team and other departments including Operations and Client Service.
• Support or in some circumstances lead ad-hoc projects across the teams.
• You will be expected to maintain a thorough knowledge of industry standards and best practices relating to ODD. You will be responsible for making recommendations on how those could be integrated into our current processes.
• Any other tasks and responsibilities assigned to you by the firm.

Key Attributes

• Impeccable degree of honesty and integrity.
• Strong work ethic and tireless dedication to achieving excellence.
• Curious and inquisitive, with a genuine interest in investing.
• Respectfully skeptical, with a truly open mind.
• Passionate about organization, process, and discipline.
• Team player who shares Prime Quadrant’s core values.

Qualifications

• Undergraduate or advanced business degree (e.g., B.Comm, BBA, MBA etc.).
• CPA, CFA, CAIA, Master of Finance or other relevant investment-related designations would be considered an asset.
• 2-5 years experience doing Operational Due Diligence with a focus on Alternatives, both liquid (Hedge Funds) and illiquid (Private Equity, Credit, Real Estate). Ideally you will have experience of the full ODD process from start to finish and be able to work with minimal support.
• You should have a thorough understanding of both public and private market investment operations process flows including funds transfer, waterfall and carry fee methodology, trade life cycle, settlement, custody, and valuation processes.
• Good understanding of a wide range of financial instruments as well as a solid understanding of common hedge fund and private market strategies.
• Experience doing due diligence on direct deals and co-investments would be considered an asset.
• Experience evaluating and reporting on internal control processes, procedures and documentation would be considered an asset.
• Experience working with Salesforce Financial Cloud would be considered as asset.
• Strong written and verbal communication skills.

Compensation

• Industry competitive base salary.
• Performance-based bonus structure.
• Participation in the firm’s health benefits plan.
• Up to $1,000 per annum relevant continuing education expense.
• Entitled to receive awards under the firm’s Key Exemplary Employees Plan as per its terms and conditions.