Product Manager, Network Rules & Governance

Altic is the rules-based operational network that enables private markets to operate within managed accounts  is the infrastructure layer that did not exist before. Not a platform, not a portal, not a workflow tool. The right historical reference is not the alternatives access platforms of the last decade, it is what NSCC and Omgeo did for equities: common standards, rules and infrastructure that allowed an entire asset class to operate at volume.

The network is built in a sequence, and the sequence is not arbitrary. Rules, then digitisation, then intelligence, then scale. You cannot digitise without rules. You cannot get to intelligence without digitisation. This is why Altic starts with the rulebook.

What follows from that is the part people miss. The rulebook, the technical specification and the participant agreement are not paperwork sitting alongside the technology. They are what the technology gets built on. A legal framework agreed once across every participant is what makes a common technical standard possible, and that standard is what turns a set of bilateral relationships into market infrastructure.

The rules work is the foundation of the network build, not a condition of being allowed to start it.

Every large network has a function that owns its rules. Payments has Visa Rules Management and a Rules Committee. ACH has Nacha's operating rules. Securities settlement has the DTCC and SWIFT standards bodies. Private markets has never had one. This role is the first of its kind for the asset class.

Purpose of the Role

You will own the Altic rulebook, the technical specification and the network's participant agreement as products, not as documents. That means being accountable for what they say, how they change, who agrees to them, and how quickly the network can absorb a change once it is agreed. It also means being the face of them. Externally, you are the rulebook.

The immediate job is twofold. Give the network a genuine product owner of its rules, and formalise the governance framework that decides how those rules change, including standing up the committee structure that does not exist yet. Where it goes after that is harder to predict, but as the scope of the network grows the manual version of this job stops scaling.

Part of the role is building towards the capability that replaces it: a change-management capability that captures participant feedback, assesses impact across the network, and shortens the cycle from a raised issue to a published rule.

You define the rules and the requirements the network is built against, working closely with technical product management and engineering as the build takes shape. The test of your work is not whether the documents are well drafted. It is whether the rules are agreed, adopted, and clear enough to build against.

Key Stakeholders

• Legal and governance, internal and outside counsel
• GPs and asset managers participating in the network
• Wealth managers and platform participants
• Service providers including transfer agents, fund administrators and custodians
• Business Development, Partnerships and Strategy
• PMN Technical Product Management and Engineering
• PMN Product and Operations

Why This Role Is Different

This role offers:

• A first of its kind mandate. Nobody has built a rules function for private markets. There is no incumbent playbook to inherit and no template to fill in.
• The governance framework does not exist yet. You will formalise it and stand up the committee structure, rather than inherit someone else's process and administer it.
• The rules are the foundation of the build. What gets agreed in the rulebook is what the technical network is designed against, so this is not documentation that sits to one side.
• Ownership of the artefacts the entire network depends on, rather than a slice of a roadmap someone else set.
• A genuinely external role. You will present the rulebook, teach it, and run the forums and events where the network argues it out, in person and virtually.

The rulebook is not a document you maintain. It is the product the network runs on, and you are the person who stands behind it.

How you will provide meaningful contributions:

What You'll Actually Be Doing

This role sits between legal, engineering and the participants themselves, and a lot of it happens in front of people. On any given week, you might be:

• Walking a GP's counsel through a rule they have taken issue with, and coming back with a change the rest of the network can actually absorb.
• Presenting the rulebook to a…