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Operational Due Diligence Senior Associate

Company: Neuberger Berman
Location: Dallas
Posted on: June 13, 2021

Job Description:

Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies-including equity, fixed income, quantitative and multi-asset class, private equity, real estate and hedge funds-on behalf of institutions, advisors and individual investors globally. With offices in 35 countries, Neuberger Berman's diverse team has 2,345 professionals. For six consecutive years, the company has been named first or second in Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 employees or more). The firm was awarded an A+ in every category in the latest 2020 Principles for Responsible Investment (PRI) report for our approach to ESG integration across asset classes. The firm manages $405 billion in client assets as of December 31, 2020. For more information, please visit our website at www.nb.com.


NB Alternatives - Operational Due Diligence Team. NB Alternatives manages approximately $82 billion for institutional and high net worth clients across a range of commingled fund of funds and customized portfolios.

This Operational Due Diligence team member will play an integral role in overseeing and maintaining the Alternatives Operational Due Diligence program and directly impacting overall investment decisions. In addition, this role will provide a high level of direct interaction with senior personnel on both the investment and non-investment teams of the firm. The role's primary responsibility is to conduct operational due diligence reviews on both existing and prospective investments maintained with third party alternative fund managers (i.e. hedge, private equity, venture capital) and non-bank lenders (e.g. fintech lenders). The right candidate will be able to identify operational risks based on key investment characteristics (e.g. strategy, firm/team, product offering), and assessing the operating infrastructure in place to mitigate these risks. Reviews conducted will be focused on firm/fund structuring, trading, valuation, portfolio accounting and fund administration, counterparty risk, technology, and compliance. The candidate should be comfortable leading onsite meetings with C-level executives, and be able to succinctly document the findings of their review. In addition, the candidate must be able to maintain ownership of the broader ODD review process of a roster of over 200 alternative fund managers and specialty lenders across various strategies (i.e. hedge funds, private equity, venture capital, specialty finance), and ensuring that all investments are reviewed in a timely and ongoing manner, as necessary.


  • Maintain ownership of the full ODD review life cycle for both existing and prospective investments.

  • Gather and analyze information from fund managers and specialty lenders during the investment decision-making process via onsite meetings held with senior members of the firm's non-investment team (e.g. COO, CFO, GC/CCO, CTO).

  • Identify key areas of operational risk and ensure that the appropriate mitigating controls have been implemented.

  • Communicate due diligence findings to the Investment Team and other decision makers at the firm as necessary.

  • Document and track the operational due diligence review process via the maintenance of a proprietary ODD memo and internal tracking matrices.

  • Conduct ongoing service provider due diligence.

  • Stay abreast of industry best practices and key events across a number of areas (e.g. regulatory, technology/systems, trading) while maintaining ownership of projects focused on the analysis of key risks within the portfolios.

  • Communicate with clients on an as-needed basis.

  • Engage in ad hoc operational projects to support the broader Alternatives platform.


  • Minimum 4-5 years of experience required; advisory, traditional audit/tax, or operational due diligence experience strongly preferred but comparable fund accounting, trading, fund administration, or hedge/PE fund operations experience will be considered.

  • Familiarity with various hedge fund strategies (e.g. l/s equity, credit, global macro); as well as private equity / venture capital.

  • Superior oral communication skills; Candidates must be comfortable leading onsite meetings with C-level professionals and engaging with investors. In addition, written skills are essential to maintaining internal documentation which may be made available for client consumption.

  • Strong attention to detail; Must be able to consume and triangulate information and data from multiple sources and ultimately reconcile any conflicts.

  • Must be able to independently formulate, and confidently support, opinions.

  • Ability to support ongoing reviews and take the lead on ad hoc projects while maintaining accountability and ensuring that internal deadlines are met; Must be able to multi-task and prioritize multiple projects in an efficient manner.

  • Willingness and ability for domestic and international travel.

  • Proficient in Microsoft Office.

  • CPA, JD, CAIA or CFA a plus.

Neuberger Berman is an equal opportunity/affirmative action employer. The Firm and its affiliates do not discriminate in employment because of race, creed, national origin, religion, age, color, sex, marital status, sexual orientation, gender identity, disability, citizenship status or protected veteran status, or any other characteristic protected by local, state, or federal laws, rules, or regulations. If you would like to contact us regarding the accessibility of our website or need assistance completing the application process, please contact onlineaccommodations@nb.com.

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Keywords: Neuberger Berman, Dallas , Operational Due Diligence Senior Associate, Other , Dallas, Texas

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