Vice President, Private Assets Advisor Oversight and Commercial Negotiations Job at Fidelity Investments (Boston)

Job Description

The Vice President, Private Assets Advisor Oversight and Commercial Negotiations will lead critical capabilities related to the engagement of third-party investment managers within Fidelity Products. This role will be responsible for leading the operational due diligence and fee negotiations/pricing analysis of third-party managers across private market asset classes and product structures. The role will partner with Fidelity Investment Management teams, Product, Compliance, Legal, Finance, and Operations to mitigate risks and structure agreements that optimize financial terms and support Fidelity’s long-term strategic objectives.

Job Responsibility

Lead Private Assets Advisor Oversight: Evolve the current Private Markets operational due diligence program to effectively identify, mitigate and report risks related to third-party manager engagements across asset classes and product structures
Provide recommendations to governance committees
Lead initial Operational Due Diligence with potential investment advisors to evaluate their control environments and perform a thorough operational risk assessment of the firm and products under consideration
Conduct On-going Oversight activities to identify any material risks across the investment advisors and products, which include, but not limited to, preparing manager scorecards and managing ad hoc events
Preparation of Reports and presentations to senior management and oversight boards, including recommended actions
Facilitate Operational Implementation of between third-party managers and internal Fidelity teams
Lead Commercial Negotiations: Act as the firm's lead negotiator for complex sub-advisory and third-party agreements, including management fees, performance fees, fee tiers, expenses, and Most Favored Nation (MFN) clauses
Develop Negotiation Strategy: Create and manage a firm-wide 'negotiation playbook' to ensure a consistent, best-practice approach to all commercial arrangements
Cross-Functional Collaboration: Partner with investment teams during the final stages of manager selection to advise on commercial feasibility. Work lock-step with Legal, Tax, Compliance, and Operations to ensure all aspects of an agreement are sound
Contract Lifecycle Management: Lead the re-negotiation of existing agreements as needed. Proactively track and enforce MFN clauses to ensure the firm consistently receives best-in-market pricing
Market Intelligence: Serve as the firm's subject matter expert on market trends for fees and terms, leveraging internal data and external resources (e.g., Preqin, Genysis, etc.)
Financial Analysis: Build financial models to analyze the economic impact of various fee structures and term proposals on product profitability

Requirements

10+ years of experience in the asset management industry
Understanding of private markets products operating models and governance structures
Operational Due Diligence experience at a bank, asset allocator, fund of funds, or other investment platform is preferred
Knowledge of regulatory environments, including the 1940 Act, preferred
Direct, hands-on experience negotiating complex contracts, including sub-advisory agreements across various product structure within the private markets space
Deep understanding of alternative asset fee and expense structures, including management/performance fee mechanics, tiers, and MFNs
Proven ability to lead and influence cross-functional teams, including senior leaders in product, legal, compliance, finance
Strong financial modeling and analytical skills
Excellent written and verbal communication skills, with the ability to distill complex issues into clear, actionable recommendations
Law degree (JD) or MBA is a strong plus

Nice to have

Operational Due Diligence experience at a bank, asset allocator, fund of funds, or other investment platform
Knowledge of regulatory environments, including the 1940 Act
Law degree (JD) or MBA

What we offer

comprehensive health care coverage and emotional well-being support
market-leading retirement
generous paid time off and parental leave
charitable giving employee match program
educational assistance including student loan repayment, tuition reimbursement, and learning resources to develop your career

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Vice President, Private Assets Advisor Oversight and Commercial Negotiations

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Vice President, Private Assets Advisor Oversight and Commercial Negotiations

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