Funds & Oversight Manager

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 over £109bn* in assets under management 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.
*As of June 2025

Role Title: Private Funds Governance Manager

Division: Operations

Location: Liverpool

Contract: Permanent

Working pattern: Hybrid

About the Role

In this role you will be monitoring and overseeing the Private Closely Held Funds managed by Rathbones Investment Management (RIM) Investment Directors, including managing the relationship of the Authorised Corporate Director (ACD) and Global Custodians and ensuring appropriate controls are in place.

What you’ll be responsible for

• The Private Funds Manager is responsible for the first-line oversight of the fund management of RIM-managed private funds, ensuring that all funds are managed in accordance with their prospectus objectives, the FCA COLL Sourcebook, and the requirements of the Investment Management Agreement.
• The role provides effective oversight of investment management activities, maintains strong working relationships with Third Party Authorised Corporate Directors (ACDs), and ensures that regulatory, governance, and operational standards are consistently met.
• The role acts as the central point of coordination between Investment Directors, Operations, Compliance, and external service providers, overseeing regulatory rule mapping, performance and Chief Investment Office (CIO) challenge processes, ACD due diligence, and fund documentation.
• The role ensures appropriate training and competence of investment staff, supports regulatory change implementation, provides assurance over ACD operations, and represents the investment manager at relevant governance forums, including Management Committee (ManCo) meetings.

About you

If you meet some of these criteria and are excited about the role, we encourage you to apply

• Bring senior‑level experience in authorised funds and investment management, with a track record of providing effective first‑line oversight across private funds.
• Background includes deep knowledge of FCA COLL requirements, fund governance, prospectus compliance, and Investment Management Agreements, alongside hands‑on experience engaging with ACDs, auditors, and internal control functions.
• Have operated confidently within regulated environments, leading performance and risk oversight, regulatory change implementation, and fund documentation governance.

• Demonstrable experience providing first‑line oversight of fund management activities, including monitoring asset allocation, investment objectives, performance, and valuation compliance.
• Possess the ability to translate regulatory requirements into practical policies, procedures and rule‑mapping frameworks, ensuring regulatory change is implemented effectively and embedded within day‑to‑day operations.
• Well‑developed stakeholder management skills, to work constructively with Investment Directors, ACDs, Operations, Compliance, and external auditors, while confidently representing the investment manager at governance forums such as ManCo meetings.
• Strong analytical and risk management capability, with experience overseeing CIO challenge processes, performance reviews, breach management, and operational risk reporting.
• A robust understanding of fund documentation and disclosures (KIIDs, factsheets, annual reports), fund launch governance, and training and competence requirements for investment staff, ensuring high standards of control, transparency, and client protection across the private funds proposition.
• Experience supported by relevant professional qualifications or equivalent industry expertise, continuous professional development, and strong regulatory judgement aligned to client protection and supervisory expectations.

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 recruit@rathbones.com 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. Please submit your application as soon as possible to ensure you don’t miss out.