Private Funds Oversight Specialist

Rathbones Group; Liverpool; Hybrid; GBP 50,000 - 70,000; Full time

Benefits offered by this job

Private medical insurance

Life assurance

Discretionary bonus

Company pension – 9% or 10%

Job summary

Rathbones Group in Liverpool seeks a Private Funds Oversight Specialist to support daily oversight of private funds, coordinating across dealing, trade support, contracts, settlements and custodians.

You will drive fund account setup on RID, coordinate external account openings, investigate breaches and contribute to controls, risk management and process improvements while benefiting from structured on-the-job training.

Qualifications

• Oversee private funds operating model and ensure timely, accurate fund-related activities.
• Coordinate opening of new Private Fund accounts on RID with custodians and UNIT Trust Managers.
• Coordinate external account openings with custodians, UTM and transfer agents.
• Collaborate with Dealing Desk, Trade Support, Contracts, Settlements and Reconciliations to manage dependencies.
• Assist investigations of breaches, errors and service issues; identify root causes.
• Perform checks and oversight activities, highlighting control weaknesses and improvement opportunities.
• Review end-to-end processes to reduce duplication and manual activity.
• Build effective relationships with custodians, fund administrators and transfer agents.

Responsibilities

• Operational Coordination & Oversight: daily oversight and log maintenance.
• Fund Account Setup on RID: verify data and readiness for processing.
• External Account Opening: coordinate with custodians and transfer agents.
• Cross-Team Working: manage dependencies across teams.
• Breach, Error & Root-Cause Analysis: identify causes and actions.
• Controls & Risk Management: perform checks and document findings.
• Process Review & Efficiency: propose improvements to the operating model.
• Third-Party Liaison: ensure timely communication of queries and actions.
• Learning & Development: complete on-the-job training and develop fund knowledge.

Skills

Operational coordination

Attention to detail

Cross-team collaboration

Process improvement

Risk management

Breach investigation

Documentation & records

Stakeholder engagement

Structured on-the-job training

Tools

RID system

Job description

At Rathbones, we help people invest their money well, so they can live well. That means more than financial returns - it's about helping people feel confident in their decisions and supported in their future. We don't just manage money, we guide people through life's big moments, helping them stay on track and focus on what matters most.

We're proud to be one of the UK's leading wealth managers, with £113.6bn in assets under management (as of March 2026) and 20+ offices across the UK and Channel Islands. We're a FTSE 250 company with national reach and a local feel - and we're growing.

Role Title: Private Funds Oversight Specialist

Division: Group Operations

Location: Liverpool

Contract: Perm

Hiring Manager: Paul Byrne

Working pattern: Hybrid

About the Role

Support the first-line oversight and day-to-day operational administration of Private and Closely Held Funds, working with the Private Funds Oversight Manager, internal dealing and Operations teams, Custodians, Unit Trust Managers and Transfer Agents.

What you'll be responsible for

The Private Funds Oversight Specialist supports effective oversight of the private funds operating model and helps ensure fund-related activities are completed accurately, promptly and in line with agreed controls.

The role provides practical coordination across the Dealing Desk, Trade Support, Contracts, Settlements, Account Opening, Dividends, Corporate Actions and Reconciliations, resolving operational issues and ensuring clear ownership of actions.

Key responsibilities include coordinating the opening of new Private Fund accounts on RID, opening accounts with custodians and Unit Trust Managers / Transfer agents, maintaining records, monitoring operational activity and supporting the investigation and reporting of breaches and errors.

The Specialist reviews processes end-to-end, identifies root causes and recommends proportionate control or efficiency improvements. Knowledge of regulatory requirements is not mandatory at appointment, and structured on-the-job training will be provided.

The Specialist supports Investment Managers by serving as an operational subject-matter expert for private funds, helping to resolve dealing, settlement, custody, and fund administration queries through effective engagement with internal Operations teams, ACDs, custodians, and transfer agents.

1. Operational Coordination & Oversight Support the daily oversight of Private and Closely Held Funds, maintain action logs and records, monitor outstanding items and ensure issues are followed through to closure or escalated promptly.
2. Fund Account Setup on RID Maintain Fund accounts on RID in accordance with approved instructions and controls, validating static data, ownership, documentation and readiness for downstream processing.
3. External Account Opening Coordinate account opening with custodians, Unit Trust Managers and transfer agents, collating documentation, responding to queries, tracking progress and confirming that accounts are operational before activity begins.
4. Cross-Team Working Work closely with the Dealing Desk, Trade Support, Contracts, Settlements, Account Opening, Dividends, Corporate Actions and Reconciliations to manage dependencies, resolve exceptions and prevent downstream disruption.
5. Breach, Error & Root-Cause Analysis Support the investigation of breaches, errors and service issues; establish the underlying cause, assess operational and client impact, document findings and recommend proportionate corrective and preventive actions.
6. Controls & Risk Management Perform assigned checks and oversight activities, maintain evidence, identify control weaknesses and suggest improvements that reduce repeat incidents, manual risk and key-person dependency.
7. Process Review & Efficiency Review end-to-end operational processes, identify duplication, hand-off gaps and avoidable manual activity, and propose practical improvements to strengthen the operating model and service delivery.
8. Third-Party Liaison Build effective working relationships with custodians, Unit Trust Managers, transfer agents, ACDs and fund administrators, ensuring queries and actions are communicated clearly and completed within agreed timescales.
9. Learning & Development Complete structured on-the-job training and develop knowledge of Private and Closely Held Funds, relevant systems, operational processes and regulatory obligations. Role requirements are developmental rather than mandatory on appointment.

About you

Good operational awareness and the ability to understand how activity flows across dealing, trade support, contracts, settlement, account opening, income, corporate actions and reconciliations. Strong attention to detail, record keeping and organisational skills, with the ability to coordinate multiple actions and follow issues through to closure.

A practical risk and control mindset, including the ability to investigate exceptions, assess root cause, identify downstream impacts and suggest sustainable control enhancements.

Clear written and verbal communication, confidence working with internal teams and external service providers, and a collaborative approach to process improvement.

Knowledge of private or Closely Held Funds, fund account structures, custodians, Unit Trust Managers, transfer agents or RID is desirable but can be developed in role.

Previous experience in investment operations, custody, asset servicing, fund administration or a similar regulated environment is helpful but not mandatory.

Knowledge of Closely Held Funds is desirable.

The role is suitable for someone with strong operational aptitude who is willing to learn through structured on-the-job training.

Relevant industry qualifications may be supported as part of continued development.

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.

We offer a comprehensive remuneration package, which we review regularly, and benefits include:

• A 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 - 8 x salary
• Income protection - 75 % 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 & carers
• Study support - study days and funding for courses and qualifications
• Season travel ticket loans
• Volunteering days
• Gym discounts
• Other voluntary benefits you can choose to suit you

Our employees can choose to take part in various social groups and communities to support their wellbeing, growth, development and sense of community. These include:

• Sports & Social Committees, such as cricket, football, netball, running, yoga, quiz nights, charity bake sales and much more.
• Inclusion Networks that help us drive change within the organisation such as Gender Balance, Multicultural, Abilities Count, Pride, Social Mobility, Generations, Menopause Matters@Rathbones' and Armed Forces.
• The NextGen IM Network, which brings together a community of trainees from across the UK, who are all at the early stages of their careers and offers development opportunities, exposure across the business as well as peer support and connection.

Life at Rathbones

We aim to become an employer of choice for the wealth management sector, to achieve this we are working hard to build a diverse, equal, and inclusive workplace that motivates, develops and embraces the strengths of all our colleagues. Being part of Rathbones means you will join a team of passionate professionals in a successful culture that cares for its people. At Rathbones, we provide meaningful work, opportunities, and a voice to all.

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. This means we've signed up to a set of commitments around how we recruit, retain and develop people with disabilities. Find out more about the Government Scheme online, click here. If you require adjustments to apply for a role at Rathbones, please contact us via [e-mail] to let us know what adjustments you may need.

Mission

We believe in playing the long game. That means building consistent results, earning trust and doing the right thing - for our clients, our colleagues and the communities we're part of.

Our values shape how we work:

• - We aim high
• - We get it done
• - We show we care
• - We do the right thing

These aren't just words on a wall. They guide how we treat each other, how we make decisions and how we build relationships that last.

We will close this advert once we have received enough applications for the next stage.