Have you ever wondered if you could just cook up a new career opportunity in your kitchen?
If you’re looking for a role in Operational Due Diligence, we’re here to present a tried and tested recipe to become a perfect ODD Analyst.
Let’s start with the ingredients of the recipe (or skills as you may say):
- A scoop of Bachelor’s/Master’s degree (additionally any other professional certification like a CFA, CAIA or CPA would most certainly enhance the taste)
- One to two scoops of prior work experience within the investment management industry or in a due diligence role
- An excellent set of written and verbal communication capabilities, along with a pinch of people skills to create good relationships with stakeholders
- A foundational layer of strong quantitative and analytical skills, with the ability to work with large data sets and also a teaspoon of detail oriented outlook
- A few tablespoons of efficiency in multitasking to go with a wide range of projects
- A full packet of existing knowledge of hedge funds, private equity, venture capital, the different range of asset classes, financial instruments, alternative investments and operational processes, etc.
- Finally, a few scoops of vivid understanding of the DDQ, background checks, along with investigation tools, litigation research, sanctions and OFAC screening, among the few
Now that you have all the relevant ingredients with you, it’s time to explore the instructions for how to cook up the perfect ODD Analyst (or, what all you’ll be required to do in your role with the help of these ingredients)
Cooking instructions (or how to become a good ODD analyst):
For the perfect ODD Analyst, you must at the very foremost, use your educational and professional qualification and experience to start taking ownership of the ODD process.
Conduct reviews on existing and potential investments, support and help in the ongoing due diligence across different asset classes, develop due diligence questionnaires and coordinate the ODD interviews and assignments with the asset managers. You need to be able to handle the heat in the kitchen along with some high pressure and time sensitive projects as well.
(Chef tip: Make use of the DiligenceVault technology for the process if you want to deliver excellence with consistency)
Going forward, take the 2 cups of strong analytical skills to conduct the right background and reference checks. Document all the information on the business and capabilities of external managers, while also evaluating and reporting on any operational risks found during the process.
(Chef tip: Make use of DiligenceVault’s presentation module to avoid a series of copy and paste marathons)
Take the few scoops of your knowledge and understanding of various investments and asset classes to identify, review and analyze the due diligence data collected as documents or reports from fund managers. Knowing how to sift through the managers recipe for success and find the key areas of concern is crucial.
Make use of your communications skills to add a taste of open exchange with clients as well as every stakeholder around the findings of the diligence process, to keep the system transparent and efficient. Also, using your people skills, build good partnership with asset managers and suggest ways of improvement for the future.
Now when the perfect ODD Analyst is almost ready, the last few steps would include you to show some good support in the various other ad-hoc operational and strategic projects that take place in a firm, acting as both head chef sometime and sous chef others. Finally, add some knowledge on industry trends and best practices, regulatory concerns, and market developments that impact funds, managers, clients, and the industry as a whole, to serve the most perfect form of ODD Analyst.
Once you’ve prepared the perfect ODD Analyst, serve it with some accountability and good work ethic on the side for a more relishing experience.
Now, if you think you have all the ingredients and a knack to make a good ODD Analyst, this is your cue to start cooking and getting that role you’ve been waiting for so long.
When we think about it, looking for a new opportunity in a specific job role is quite like preparing a good meal for dinner – you focus on getting that one thing right and it does take a lot of patience, dedication and most importantly, the right recipe to follow, and we hope the above is helpful.
Here is a complimentary list of recent roles in ODD for you to indulge in:
- Black Rock – Associate, Operational Due Diligence
- Cambridge Associates – Operation Due Diligence Analyst
- Castle Hall – Due Diligence Analyst
- Morgan Stanley – WM Global Investment Office – Operational Due Diligence Analyst – Vice President
- Neuberger Berman – Operational Due Diligence Senior Associate
- Pictet Wealth Management – Operational Due Diligence Analyst – Alternative Investments