Operational Due Diligence Associate

The Operational Due Diligence Associate role at First Trust Alternative Investment Research ("FT AIR") is focused on supporting all aspects of the operational due diligence efforts with respect to the firm’s hedge fund, private equity, venture capital, real estate, private credit, and liquid alternatives investments and related co-investment opportunities. The Associate will be responsible for supporting our Director of ODD and team in a variety of day-to-day tasks and ongoing investment projects.

This role requires analytical and technical skills as well as verbal and written communication skills. Our ideal candidate is an intellectually curious, detail-oriented, passionate, and ambitious professional with a keen interest in the alternative assets industry who desires a long-term and successful career within Investment Management and First Trust Capital Management ("FTCM"). The Associate role sits within a 22 person investment research team of FT AIR.

• Participate in the due diligence of fund managers, perform independent analysis, documenting findings and make investment-related recommendations for new perspective managers and as part of the ongoing monitoring process for existing relationships.
• Additionally, the Associate will perform operational due diligence on co-investments and direct investments as opportunities arise.
• Documentation of ODD calls and preparation of Investment Committee memos.
• Create summary reports, evaluate, assess, and provide an opinion on the depth and effectiveness of individual fund manager’s back-office operations and pricing procedures among other process areas.
• Review legal and marketing documents including offering memorandums, due diligence questionnaires, audited financial statements, Form ADVs, and policy & procedures documents among other agreements.
• Interact with internal teams as appropriate, including Investment Due Diligence, Legal/Compliance, Operations, and Accounting as needed.
• Support a team atmosphere including idea sharing, learning, and back-up.
• Remain abreast of industry trends, regulatory matters, and market events affecting funds, managers, clients, and the industry.
• Perform project work or other responsibilities as directed by the Director of Operational Due Diligence.
• Assist the team in preparation for travel and on-site meetings with fund managers & ex-post documentation.

• Accounting and/or Finance major preferred
• 3-4 years of relevant work experience, specifically in a public accounting role auditing funds and/or financial services or industry experience in evaluating and reviewing fund managers
• Intellectual curiosity and a passion for learning about alternative funds and investment strategies
• Strong writing skills are required since a critical component of the job is documenting manager reviews and making investment recommendations
• Excellent organizational and communication skills as well as the ability to thrive in a team environment
• Attention to detail and ability to see projects through to completion
• Familiarity with different alternative investment funds strategies is a plus. Working knowledge of alts assets classes including hedge funds, private equity, real estate, interval funds and tender funds
• Working knowledge of equities, debt instruments, futures, forwards, swaps, real estate, CLOs, options amongst a host of other financial instruments
• CPA or CFA is a plus – or working towards
• Candidates with a background in technology are viewed favorably
• A willingness to travel up to 15% of the time

• Health & Wellness:
  Comprehensive medical, dental, and vision insurance
• Retirement: 401(k) with up to 4% company match
• Paid Time Off (PTO):
  Flexible Leave Policy

First Trust Capital Management (“FTCM”) is a privately-owned alternative investment research and asset management firm that advises investment advisors, family offices, and high net worth individuals. FTCM was created on the belief that an independent firm was the best way to ensure our clients were served with their greatest interests in mind – both in terms of customized alternative investment solutions and a streamlined operational experience when investing in private and liquid alternatives.

FTCM houses a specialized business unit called FT Alternative Investment Research
. This dedicated investment research team operates as a supportive unit to our advisor clients as well as a resource for a select group of institutional clients and family offices. The sole purpose of this dedicated team is to find investment solutions to enhance client portfolios. In 2024, FT AIR:

• Performed initial review of 500 investment strategies and opportunities
• Made 12 new primary fund commitments and closed on over 60 direct transactions
• Participated in over 25 capital introduction events and attended 15 top-tier industry conferences