Vice President, Private Assets Advisor Oversight and Commercial Negotiations
Job Description:
The Role
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.
The Value You Deliver
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.
The Skills and Experience You Bring
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.
Placement in the range will vary based on job responsibilities and scope, geographic location, candidate’s relevant experience, and other factors.
Base salary is only part of the total compensation package. Depending on the position and eligibility requirements, the offer package may also include bonus or other variable compensation.
We offer a wide range of benefits to meet your evolving needs and help you live your best life at work and at home. These benefits include comprehensive health care coverage and emotional well-being support, market-leading retirement, generous paid time off and parental leave, charitable giving employee match program, and educational assistance including student loan repayment, tuition reimbursement, and learning resources to develop your career. Note, the application window closes when the position is filled or unposted.
Please be advised that Fidelity’s business is governed by the provisions of the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940, ERISA, numerous state laws governing securities, investment and retirement-related financial activities and the rules and regulations of numerous self-regulatory organizations, including FINRA, among others. Those laws and regulations may restrict Fidelity from hiring and/or associating with individuals with certain Criminal Histories.
Most roles at Fidelity are Hybrid, requiring associates to work onsite every other week (all business days, M-F) in a Fidelity office. This does not apply to Remote or fully Onsite roles.