Director - Head of Mutual Fund and Alternative Investment Operations

Job Description

What is the opportunity?

Director, Mutual Fund and Alternative Investment Operations is responsible the leadership of a diversified group that is responsible for all production and change-related aspects of all Mutual Fund and Alternative Investment products offered by RBC USWM. In addition to managing existing people and processes, this high-profile role will partner with the USWM business to execute a multi-fold expansion of the Alternative Investment product line which is a cornerstone of a broader strategic plan to recruit and support the addition UHNW advisors and their clients. The role will offer extensive exposure to the senior-most ranks of RBC Operations, RBC Technology, and the RBC USWM executive leadership team.

What will you do?

• Lead all aspects of a 20+ person team focused on front-to-back processing for multiple sub-product lines within the Mutual Fund and Alternative Investment Operations space.
• Quickly establish credibility with senior leaders through the business and operations and help lead a full-scale expansion of the Alternative Investments.
• Work with all levels of staff throughout Operations, Technology, the WM field, and product areas, legal, compliance and finance teams to manage change while maintaining regulatory compliance, client satisfaction, and operational risk standards.
• Lead an existing Alternative Investment Working Group that focused on driving efficiencies, increased accuracy and timeliness in the existing process as well as identifying medium to strategic-level changes required to support growth in UHNW Financial Advisors and their clients.
• Collaborate intensely with RBC USWM Product to satisfy existing FAs and clients while developing an all-aspect business, operations, and technology roadmap to grow the product shelf, improve service, support rapid recruitment of UHNW advisor teams, and meet regulatory requirements.
• Maintain sound ledgers and meet all risk management requirements inclusive of transaction financial controls, Workflow Supervisor Procedures, internal risk reporting, and all external regulatory/audit/exam inquiries.
• Develop staff to drive efficiency and move up the value chain in terms of FA and Client Service.
• Serve as the lead RBC Mutual Fund and Alternative Investment representative in industry forums that include ICI, Nicsa, and SIFMA.
• Partner with other Operations areas to ensure that downstream portfolio/performance reporting processes associated with the product lines are sound, efficient, and accurate.
• Recruit, onboard, and ensure the training of new operations staff and meet all Employee Engagement goals set by the US WM Operations Executive Leadership Team.
• Ensure employee compliance with all rules and internal policies.
• Serve as a Subject Matter Expert and function as the primary MF/Alts Operations contact to various business lines and functional units within the firm.
• Solicit and respond to feedback from internal and external customers in a professional manner ensuring departments are providing superior service and work with departments to respond effectively and constructively to feedback.
• Ensure that all daily administrative and operations functions are completed as required by business standards and industry and regulatory guidelines and support the evolution of those functions as the business and regulatory environments change.
• Acts as an escalation point for any front office and/or client inquiries within this space, including interpretation of regulatory, documentation requirements, etc.
• Manage department budget, financial forecasts, staffing models and department metric tracking.
• Maintain existing firm and regulatory policies and procedures. Identify, recommend, and implement new policies and procedures as they become warranted.
• Analyze existing processes and procedures, make suggestions for improvement, and implement departmental changes. Keep abreast of industry regulations, trends, and technologies.

What do you need to succeed?

Must-have

• 10+ years of experience in wealth management operations.
• 5+ years of experience managing mutual fund and alternative investment operations (alternative investment experience is an essential requirement).
• Tier-1 level technical aptitude and leadership capability.
• Advanced knowledge related to business lines, business strategy, needs and technology.
• Advanced problem identification, analytical and resolution skills required to support escalated issue resolution and/or oversight requirements associated with exception-based complex processes.
• Demonstrated aptitude in building, directing and leading individuals and teams.
• Exceptional conflict management, n