Private Funds Governance Manager
Division: Operations
Location: Liverpool
Contract: Permanent
Working pattern: Hybrid
About the Role
Monitor and oversee the Private Closely Held Funds managed by Rathbones Investment Management (RIM) Investment Directors, manage the relationship of the Authorised Corporate Director (ACD) and Global Custodians, and ensure appropriate controls are in place.
Responsibilities
* First-line oversight of RIM-managed private funds, ensuring all funds are managed in accordance with their prospectus objectives, the FCA COLL Sourcebook and the Investment Management Agreement.
* Provide effective oversight of investment management activities, maintain strong relationships with Third-Party ACDs, and ensure regulatory, governance and operational standards are consistently met.
* Act as the central point of coordination between Investment Directors, Operations, Compliance and external service providers, overseeing regulatory rule mapping, performance and CIO challenge processes, ACD due diligence, and fund documentation.
* Ensure appropriate training and competence of investment staff, support regulatory change implementation, provide assurance over ACD operations, and represent the investment manager at governance forums such as Management Committee meetings.
About you
* Senior-level experience in authorised funds and investment management with a track record of effective first-line oversight across private funds.
* Deep knowledge of FCA COLL requirements, fund governance, prospectus compliance, Investment Management Agreements and hands‑on experience engaging with ACDs, auditors and internal control functions.
* Experience leading performance and risk oversight, regulatory change implementation and fund documentation governance within regulated environments.
* Demonstrable experience providing first-line oversight of fund management activities, monitoring asset allocation, investment objectives, performance and valuation compliance.
* Ability to translate regulatory requirements into practical policies, procedures and rule-mapping frameworks, ensuring regulatory change is implemented effectively and embedded in day-to-day operations.
* Well‑developed stakeholder management skills to work constructively with Investment Directors, ACDs, Operations, Compliance and external auditors, confidently representing the investment manager at governance forums such as ManCo meetings.
* Strong analytical and risk management capability, with experience overseeing CIO challenge processes, performance reviews, breach management and operational risk reporting.
* Robust understanding of fund documentation and disclosures (KIIDs, factsheets, annual reports), fund launch governance and training and competence requirements for investment staff, ensuring high standards of control, transparency and client protection across the private funds proposition.
* Experience supported by relevant professional qualifications or equivalent industry expertise, continuous professional development, and strong regulatory judgement aligned to client protection and supervisory expectations.
Our offer to you
We want everyone at Rathbones to fulfil their potential in an environment where you are proud to work and feel like you belong.
Benefits
* Company pension – 9% non-contributory or 10% if you contribute 5%
* Private medical insurance – Individual on joining, family after 1 year's service
* Life assurance – 8x salary
* Company share scheme
* Discretionary bonus
* Flexible holidays – purchase up to 5 additional days
* Green Car Scheme
* Family-friendly policies – enhanced family leave for parents and carers
* Study support – study days and funding for courses and qualifications
* Season travel ticket loans
* Other voluntary benefits you can choose to suit you
EEO Statement
We are committed to building a team that is made up of diverse skills, experiences and abilities and encourage applications from all backgrounds. We welcome individuals who share our values.
We’re a Disability Confident Employer (level 2) under the UK Government scheme. If you require adjustments to apply for a role at Rathbones, please contact us via recruit@rathbones.com to let us know what adjustments you may need.
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