Carne Distributor Due Diligence
Director - Product Governance UK
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Vacancy Name
Director - Product Governance UK
Location(s)
London
Employment Type
Permanent
Department
Client Operations
Description
Who are we looking for?
Carne is seeking an experienced Product Governance, Consumer Duty and Product Oversight specialist to support the continued growth and scaling of its UK Authorised Fund Manager and Host ACD business.
This is a senior, high-impact role for someone who combines strong regulatory judgement with a pragmatic commercial mindset. You will lead and enhance Carne’s product governance framework, oversee Consumer Duty and Assessment of Value activity, and provide robust challenge across the product lifecycle to help ensure good investor outcomes.
Working closely with Fund Oversight, Compliance, Risk, Distribution, Relationship Management and Product teams, you will play a key role in shaping how Carne delivers oversight, governance and product monitoring as the UK business continues to grow.
What are the minimum requirements you need for the role?
- 8+ years’ experience within an AIFM, Host ACD, ManCo, asset manager or fund governance environment.
- Strong understanding of FCA Product Governance requirements, Consumer Duty, COLL and Assessment of Value obligations.
- Experience designing, implementing or enhancing product governance frameworks.
- Experience preparing Board and Committee papers and presenting to senior governance forums.
- Strong understanding of target market assessments, product approvals, product monitoring and product lifecycle governance.
- Experience analysing product and investor outcome data and translating findings into actionable recommendations.
- Excellent stakeholder management, influencing and communication skills.
- Strong analytical and report-writing capability.
What is your role and your responsibilities?
Product governance framework
- Own and continually enhance CGFM UK's product governance framework, policy and associated procedures.
- Ensure product governance arrangements remain aligned with FCA expectations, MiFID product governance requirements and Consumer Duty obligations.
- Act as subject matter expert on target market assessments, product design, distribution strategy, product approvals and ongoing monitoring.
- Lead periodic reviews of product governance documentation and governance processes.
- Support the development of governance standards for new product types, including retail products, UCITS and LTAF structures.
Product lifecycle oversight
- Coordinate and challenge Product Governance Assessments during product onboarding.
- Support Take-On Committees and Fund Oversight Committees across the end-to-end product lifecycle.
- Ensure all relevant functions contribute appropriately to product assessments, approvals and post-launch monitoring.
- Maintain product inventories, target market assessments and product review schedules.
- Lead periodic product health checks and thematic reviews, ensuring material product changes are escalated through the appropriate governance forums.
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Consumer Duty leadership
- Serve as CGFM UK's product governance lead for Consumer Duty.
- Coordinate Consumer Duty monitoring across the four outcomes: products and services, price and value, consumer understanding and consumer support.
- Develop management information and dashboards that evidence good customer outcomes.
- Lead preparation of Consumer Duty Board reporting and annual assessment materials.
- Coordinate information sharing with distributors, co-manufacturers and delegated investment managers.
- Support responses to FCA engagement and thematic reviews relating to Consumer Duty.
Assessment of Value
- Own and coordinate the annual Assessment of Value process for all in-scope funds.
- Further develop CGFM UK's Assessment of Value methodology, governance framework and evidential standards.
- Coordinate data collection across delegates, distributors, transfer agents and oversight teams.
- Lead analysis across quality of service, performance, costs and charges, economies of scale, comparable market rates and classes of units.
- Produce Board and committee papers, recommendations and action tracking for remediation arising from value assessments.
- Maintain documentation that supports regulatory expectations and recognised peer practice.
Product monitoring and fund health assessments
- Develop and maintain ongoing product monitoring frameworks and annual fund health checks.
- Coordinate inputs across Portfolio Oversight, Investment Risk, Compliance, Operational Risk, Distribution, Operations and Relationship Management.
- Establish product health indicators, RAG criteria, tolerances and escalation routes.
- Support development of holistic product monitoring and Consumer Duty reporting capabilities, including data and dashboard enhancements.
- Lead thematic product reviews where emerging risks, distribution trends, value concerns or investor outcome issues are identified.
Governance and committee support
- Support the establishment and operation of a Product Governance Committee or equivalent product governance forum.
- Prepare high-quality Board, committee and management reporting.
- Develop executive summaries, regulatory analysis and action-oriented committee papers.
- Present recommendations, emerging risks and product monitoring insights to senior management and Non-Executive Directors.
Regulatory and strategic support
- Monitor regulatory developments impacting product governance, Consumer Duty, fund oversight and value assessment.
- Support new business initiatives, product launches and strategic projects.
- Act as a Centre of Excellence for product governance across CGFM UK.
- Represent CGFM UK in client discussions, FCA meetings, industry forums and regulatory engagements where required.
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What Competencies do you require?
- Effective Communication: Communicates effectively, engaging with others in a warm and professional manner.
- Planning and organising: Organises and plans work effectively, ensuring delivery to quality and timescales in the short and longer term.
- Analytical (Attention to detail): Analyses and understands relevant and complex information and data to draw appropriate insights.
- Adaptability: Adapts approach and responds effectively to different situations, people and new opportunities.
- Resilience: Works well managing competing priorities, bounces back quickly from setbacks in a positive and constructive manner.
- Drive and Motivation: Highly motivated and driven, able to focus on what needs to be achieved and enthuses others to do this.
- Client-centric focus: Motivated by customer-facing environments, understanding their needs, and providing a good service.
- Learning Mindset: Curiosity to learn and understand key factors, new techniques or technologies affecting their work.
- People leadership: Leads, mentors, and develops a diverse team, fostering a culture of collaboration, accountability, and continuous improvement.
Who is Carne Group?
Carne Group has established itself in the funds industry with $2tn in AUM supported by 680+ staff and four regulated management companies. Together with a large team of industry specialists, Carne serves more than 650+ traditional and alternative asset management clients from key fund jurisdictions and financial hubs including Ireland, Luxembourg, Zurich, Lisbon, London, New York, Cayman and Channel Islands.
Excellence and innovation are central to Carne’s work and we are committed to attracting and retaining the best talent to deliver an unrivalled service to our clients. Whilst working with Carne, you will be provided with opportunities to develop your skills and experience by working in a dynamic, innovative, and multicultural environment where exciting careers are built.
We love hearing from anyone who is enthusiastic about changing the asset management industry. Not sure if you meet all the requirements? Let us decide! Research shows that members of other under-represented groups tend not apply to jobs when they think they may not meet every qualification, when in fact, they do! At Carne we are committed to creating a diverse and inclusive environment and strongly encourage you to apply.
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