Global COO – Investment Management, Direct Investment Unit

Company:

Mercer

Description:

Global COO – Investment Management, Direct Investment Unit

A period of accelerated business growth

This is a compelling opportunity to join a fast-growing Mercer investment business at an important time of strategic expansion and make a huge impact

Mercer is undertaking an exciting, large, scaled initiative to establish a new target operating model and technology platform, designed to support ambitious commercial growth objectives. This multi-year program will involve partnerships with key strategic partners, designing a platform that will enable the business growth objectives and ensure that Mercer’s capabilities remain competitive and differentiated. This initiative involves bringing together multiple countries & regions across our Investment Solutions business to drive scale and reimagine our ways of working.

The Direct Investment Unit is expected to continue to grow at circa 30% per year over the coming years. At present, DIU has a presence in Rotterdam, London and New York. However, Mercer have a substantial presence (and client base) in Australia, Asia, the Middle East and Canada. We will be evaluating opportunities to expand the DIU presence to some of these locations in the future.

The role

Mercer is recruiting an experienced COO to drive the global operations and change activities of the DIU, as well as overseeing the associated technology infrastructure and co-ordinate the support teams that provide support to the investment activities. The COO is responsible for the design, execution, and continuous improvement of the DIU business’ operating model to enable profitable growth, operational excellence, and to deliver strong outcomes for clients. The role will focus on delivering solutions to clients, developing talent and overseeing a strong risk management framework.

A period of strategic change

In addition to the accelerated business growth, the Direct Investment Unit is undergoing a strategic program of change to upgrade its infrastructure to support the business growth.  This is an Operating Model program with key technologies including Charles River Trading System and the State Street Alpha platform, to provide a consistent and global front-to-back investment platform.

Key Responsibilities

Operating platform

• Delivery of mid and back-office functions, in a cost effective and operationally sound way
• Outsourcing operational functions that aren’t viewed as strategically value added
• Working with regional COO teams in the launching and management of pooled funds to meet the business’ ongoing needs

Working closely with the head of Mercer Investment Technology to deliver:

• Implementation of new tech platforms
• Systems infrastructure to support the business
• Modern data architecture, data infrastructure and data engineering

Change delivery & Management of strategic 3rd parties

• Ensuring fit for purpose change management resource
• Delivery of large-scale change management projects, especially Project Everest
• Management of custodians, pooled fund providers, other strategic outsourced relationships

Qualifications

• At least 15 years’ experience working in asset management, culminating in a senior operations role.  Ideally a mix of large-scale organisations (Mercer is a large organization) but also smaller organisations (this role requires a hands-on proactive attitude).
• Proven success in leading a complex investment operations organization with strong client delivery, developing a strong control environment and leading through periods of meaningful change.
• Deep expertise across operations, technology and operating model design
• Strong understanding of regulatory frameworks
• Experience is more important that academic / professional qualifications, although we’d expect further education to degree level
• MBA or IMC could be a “nice to have”

Experience

• Deep experience working in asset management, culminating in a operations leadership role
• Experience in operational capability to deliver derivatives (OTC and exchange traded), funds and cash securities
• Change management – implementing new systems infrastructure (ideally been through an implementation of Charles River, Broadridge, Bloomberg, Aladdin etc)
• Launch and management of pooled funds (potentially with 3rd parties)

Specialist knowledge / skills

• Understanding UK, European and US asset management regulatory landscape (Mifid, EMIR etc)
• Understanding key pooled fund structures of relevance to UK, European and US institutional investors
• A broad awareness of the technological underpinnings of operational systems and their evolution,
• Comprehensive knowledge of relevant regulatory and compliance implications
• Understanding of data management and analytics fluidity to improve business value
• Ability to apply technology for standardisation and operational efficiency

Competencies and characteristics

• Collaborative team player who will lead, motivate and empower colleagues
• Pragmatic, organised and results oriented
• Strategic by nature and able to comfortably switch between big picture and detail
• Delivery focused with high energy and drive
• Able to cut through complexity and provide simple pragmatic solutions
• Able to constructively challenge at all levels and to pull together teams in the resolution of issues
• Communicates with impact and focus, and able to navigate a large global organization to get things done
• Willing to work internationally, with some travel between the offices

Mercer

Mercer is a business of Marsh (NYSE: MRSH), a global leader in risk, reinsurance and capital, people and investments, and management consulting, advising clients in 130 countries. With annual revenue of over $24 billion and more than 90,000 colleagues, Marsh helps build the confidence to thrive through the power of perspective

Mercer delivers advice and solutions that help organizations meet the health, wealth and career needs of a changing workforce. Mercer’s more than 22,000 employees are based in 43 countries and the firm operates in over 130 countries.

Mercer Investments

Mercer’s Investment business provides a range of investment, retirement and financial wellness services to over 3,000 institutional clients including public and private corporations, government and state bodies, not-for-profit organizations and financial service intermediaries. The business has approximately $700B AUM, and is represented by a global team of 1,200 professionals, including 120 manager researchers who provide in-depth knowledge in research, advice, and solutions few others can match. Mercer Investments is currently ranked #1 in investment global OCIO assets under management, according to Cerulli Associates. Mercer has acquired direct investment capabilities through the acquisitions of Cardano Asset Management ($80b AUM) and Secor Asset Management ($3b AUM), forming a global Direct Investment Unit (DIU) that delivers custom portfolio solutions to clients globally.

Mercer is a business of Marsh (NYSE: MRSH), a global leader in risk, reinsurance and capital, people and investments, and management consulting, advising clients in 130 countries. With annual revenue of over $27 billion and more than 95,000 colleagues, Marsh helps build the confidence to thrive through the power of perspective. For more information about Mercer, visit mercer.com, or follow us on LinkedIn and X.

Marsh is committed to embracing a diverse, inclusive and flexible work environment. We aim to attract and retain the best people and embrace diversity of age background, civil partnership status, disability, ethnic origin, family duties, gender orientation or expression, gender reassignment, marital status, nationality, parental status, personal or social status, political affiliation, race, religion and beliefs, sex/gender, sexual orientation or expression, skin color, or any other characteristic protected by applicable law. We are an equal opportunities employer. We are committed to providing reasonable adjustments in accordance with applicable law to any candidate with a disability to allow them to fully participate in the recruitment process. If you have a disability that may require reasonable adjustments, please contact us at [email protected].

Marsh is committed to hybrid work, which includes the flexibility of working remotely and the collaboration, connections and professional development benefits of working together in the office. All Marsh colleagues are expected to be in their local office or working onsite with clients at least three days per week. Office-based teams will identify at least one “anchor day” per week on which their full team will be together in person.