Risk Consulting – Asset Management Manager
Who we are looking for
In support of our growth, PwC's Consulting practice is currently recruiting Managers, who will focus on the Asset Servicing & Asset Management (ASAM) sector, into its Financial Services Risk and Regulatory (FSRR) Consulting team.
As a Manager you are expected to primarily work on client engagements, contributing to and leading aspects of Transformation projects (delivery), although you will also spend time supporting the development of solutions in the ASAM area (development) and proposals, time permitting.
PwC is one of the world’s leading professional services firms. Our Consulting practice work closely with senior C-suite executives to provide innovative viewpoints, independent advice and support in
developing their front-to- back operations.
Our primary goal is to help our clients create significant, measurable and sustainable value for their organisations through their ability to transform and build better operational functions to support revenue growth, cost efficiencies and the increasing number of regulatory requirements.
Our ASAM client base covers a breadth of organisations spanning: Traditional & Alternative Fund Managers, Fund Service Providers (Administrators, Transfer Agents, Depositaries, etc), Prime Brokers and Custodians. These are primarily large multinational organisations who are leaders in their respective markets. Our primary focus is the asset servicing providers.
Given the unprecedented change in the securities markets impacting asset management and asset servicing we deliver client solutions driven by these changes. Regulations such as Markets in Financial Instruments Directive (MIFID II), European Market Infrastructure Regulation, and Dodd-Frank are already having a major impact and many firms are in the midst of big transformation programmes. Other regulations that are relevant to this sector include Benchmarks Regulation and Shareholder Rights Directive II.
Our team are responsible for developing and delivering:-
• Regulatory Impact Assessments (multiple regulations; inter-dependencies)
• Programme Support
• Implementation planning and delivery of complex, cross border & cross business regulatory change
• Operational; strategic implications (business and/or function) and related implementation delivery
About the role
This role will be primarily client-based, supporting delivery teams and leading/ supporting transformational work and change engagements as well as supporting business development responsibilities. The majority of your time is expected to be on client delivery. The role will require you to have experience in asset management or asset servicing in either a front or middle office regulatory change function. You will have familiarity with regulatory requirements particularly MIFID II as well as understanding the upcoming regulations impacting this sector.
• Delivering Risk and Regulation projects, either leading workstreams or functional areas and supporting larger delivery projects
• Contributing to our continued thought leadership to ensure that appropriate solutions are developed for our ASAM clients
• It is likely that your work will be part of wider transformational programmes and hence exposure to other competencies and skills is important (Technology, Operations etc) is desirable
• Building relationships with our key ASAM clients
• Identifying client needs and proposing solutions to them;
• Commercial awareness of the projects from proposal through to delivery, tracking and managing
commercials throughout an engagement
• Developing the careers of the teams working with and reporting to you;
• Demonstrating strong understanding in your specialist field of the issues facing our clients and the
successful solutions they might deploy in the area of regulatory reform;
• The ability to stay abreast of regulatory developments driving the industry and key issues affecting
regulated firms so as to anticipate and understand the impact of such developments on clients;
• The ability to bring knowledge and experience of business processes and regulatory expectations to our clients in a way that delivers value to them.
As a Manager, your direct reporting line will be to a Senior Manager or Director. You will work as a senior member of our team and be expected to take a significant role to support large programmes or lead smaller projects (team sizes will vary depending on client/ project).
• Opportunity for working from home? (Yes - on occasion)
• Amount of time client based (80% or more)
• Need to travel/ overnight stays away from home (Yes - as required)
• Opportunity for flexible working (hours)? (Yes - some)
• Amount of time PwC office based (20%)
Joining our team as a Manager, we would expect you to have considerable experience of being involved in the development and delivery of large change projects, preferably within a consulting environment or leading ASAM focused businesses or functions.
In addition, we require all candidates to have:
• Significant understanding of the regulatory landscape impacting our FS clients
• Knowledge of the key trends and regulatory changes shaping the asset servicing and asset management industry
• Ability to be agile and work on a range of engagements within Financial Services, excellent consulting skills are critical
• Relevant regulatory impact and implementation experience with one or more of the following types of organisation: Traditional or Alternative Fund Manager, Fund Services Provider, Prime Broker or Custodian;
• Strong understanding of the role of all of the key players in the ASAM value chain and across the lifecycle of a trade
• A good understanding of fund types (OEIC, UCITS, AIFs, private equity and hedge fund types), typical associated trading strategies and key differences;
• Knowledge of the asset classes and products that funds typically invest in (Equities, FI, Derivatives Real Estate, etc)
• Familiarity with key systems and infrastructure used by ASAM businesses
• Demonstrated ability to advise senior management on alternative solutions and risks with experience of presenting and influencing at a senior level; and
• Demonstrated experience of managing a large team.
• Education to degree level;
• Additional qualifications such as ACA/ ACCA/ CIMA/ MBA are highly valued but not essential;
• Confident approach, self-motivated with excellent interpersonal and communication skills (both verbal and written);
• A flexible and team focused working style within a multi-functional team;
• Preference will be given to candidates with well demonstrated external consulting experience;
• Demonstrable end to end project management lifecycle experience (design, build, implementation);
• Experience of working in an international environment is highly desirable but not essential; and
• First class delivery skills of large, complex projects.