We are recruiting for a Deputy Fund Manager based out of Cardiff.
To provide team management support for the new investment fund manager, together with leadership and guidance for new investment team executives, sanctioning deals within delegated authority and completing and drawing down investments on behalf of the team.
To be responsible for the appraisal process of applications for investments, preparing reports where appropriate, structuring and negotiating investments and undertaking due diligence (internally or externally) with a view to recommending investments to the new investments fund manager, investment committee and board.
Main duties and responsibilities
- Take primary responsibility for the management of investments through a team of investment executives, across the Development Bank
- Contribute to the operation of the fund as a senior professional provider of risk capital to start-up and existing businesses, in accordance with the investment operating guidelines, and the terms of approval of the Welsh Assembly Government and European Regional Development Fund (ERDF).
- Assist with the development and management of systems and implementation of procedures as specified in the fund’s investment operating guidelines.
- Approve investment recommendations up to delegated authority level £250,000.
- Assess applications for funding, conducting appropriate due diligence and preparing necessary reports to the new investment deputy fund managers, fund manager and investment committee.
- Lead, manage and motivate a team of investment executives and support staff, providing investment training/guidance where required.
- Be responsible for completion and drawdown of transactions within the team including file sign off.
- Engage with portfolio teams on investments completed where required.
- Build, develop and maintain a network of contacts able to provide leads and deal flow for the fund.
- Assist with disseminating examples of best practice for applying to the fund to key business introducers and ensuring that the application process is continually refined and improved to provide the best possible client service.
- Contribute to the design and implementation of administration and management information systems for the fund.
- Assist the new investment fund manager and the Development Banks senior management team to promote best practice for environmental and equal opportunity issues within the fund.
- Assist the new investment fund manager to input specialist advice and guidance to the Development Bank with the development of new financial products to address the gaps in provision and meet the needs of businesses in Wales
- Undertake presentations, participate and represent the fund(s), where appropriate, at meetings, seminars, events and joint group activities.
- Assist in marketing/promoting the fund(s) in conjunction with the wider awareness raising of the Development Bank.
- To deputise for the new investment fund manager when required, including exercise of discretionary powers.
- Any other task as may be defined to meet the operational needs of the fund
Knowledge, skills, abilities and experience
- A proven track record of leading complex structured debt and equity investments.
- Understanding of all aspects relating to debt and equity investment
- Understanding of risk assessment and investment processes and procedures
- Strong communication, influencing and interpersonal skills at board and team level
- Experience of coaching and training team members and some leadership experience
- Credible, able to negotiate with confidence and represent the Development Bank in the local business community
- Self starter, able to take initiative and motivate others
- Able to work independently and as part of a team
- Confident in own decision making skills
- Ability to prioritise and organise work under pressure
- Demonstrable attention to detail.
- Experience of reviewing, presenting and sponsoring team members’ sanction papers prior to formal submission.
- Minimum 3 years direct investment experience
- Corporate finance and/or transaction services experience
- Knowledge and understanding of the role of the public sector in SME finance
- Understanding of the regional business environment
- Presentation Skills
- Driving Licence
- Welsh speaker
- IT literate to include the use of Word, Excel, PowerPoint, Lotus Notes, Sage Winforecast