Fund Operations & Outsourcing Oversight Manager

Fund Operations & Outsourcing Oversight Manager

Rabo Asset Management, the new asset manager of Rabobank, is responsible for the management of the 1895 investment funds. A significant part of the operational execution is provided by specialized external parties. As manager, RAAM remains responsible for controlled execution and RAAM must maintain sufficient visibility and grip on the quality and continuity of the outsourced services.

The position combines Fund Operations Oversight and Outsourcing Oversight within RAAM. You play an important role in maintaining grip on the operational chain of the investment funds and ensure that the organization possesses sufficient knowledge and countervailing power towards its outsourced service providers. In doing so, you oversee the coherence between processes, risks, and performance of the various service providers involved in the fund business.

As Fund Operations & Outsourcing Oversight Manager, you are responsible from the first line for the oversight of RAAM's key operational service providers. You maintain an intensive relationship with these parties and assess whether the service delivery takes place in line with agreements made and the requirements that RAAM sets for them.

You monitor the service delivery using SLAs, KPIs, and KRIs, perform periodic service reviews, and track deviations, exceptions, and operational incidents. In doing so, you look at the quality and continuity of the service delivery and potential vulnerabilities in the operational chain.

Fund operations forms an important part of your responsibility. You monitor relevant cash flows and reconciliations and track settlement fails and other material operational exceptions. You assess what these mean for RAAM and ensure that service providers analyze and resolve deviations in a timely manner.

You do not redo the work of the service providers. You possess sufficient operational knowledge to assess the quality of their service delivery, ask critical questions, and request improvement or action where necessary.

The role focuses on operational execution and the relationship with service providers. The First Line Risk Manager coordinates the broader risk governance, including the central registration and risk follow-up of operational incidents. The Operational Risk Manager assesses operational risks and the quality of control independently from the second line.

RAAM is in a building phase. As a result, you will get the opportunity to help shape the way investment oversight is organized and will function in practice within RAAM.

• Shaping, maintaining, and further developing RAAM's fund operations and outsourcing oversight framework.
• Maintaining the relationship with operational service providers and monitoring the service delivery using SLAs, KPIs, KRIs, and other agreements made.
• Preparing and conducting periodic service reviews and monitoring the follow-up of agreements, actions, findings, and improvement measures.
• Performing and coordinating periodic due diligence, onsite visits, and the assessment and follow-up of relevant findings from ISAE and other control reports.
• Overseeing the quality and continuity of operational service delivery by monitoring operational incidents, cash flows, reconciliations, settlement fails, and other operational exceptions, including assessing, escalating, and following up on material deviations and deficiencies.
• Assessing the design, operation, and effectiveness of processes, control measures, and operational controls within the fund operation and at outsourced service providers.
• Monitoring the operational continuity of critical service providers, identifying risks and vulnerabilities in the operational chain, and overseeing adequate remedial measures.
• Preparing periodic oversight reports, preparing relevant decision-making for the board, and sharing relevant risk and control findings with the First Line Risk Manager.
• Identifying and initiating improvements in operational service delivery and the oversight process, as well as contributing to new funds, changes in existing fund structures, and changes at service providers.

In doing so, you work closely with, among others, Product Management, Finance & Fund Accounting, Investment Oversight, First Line Risk, Operational Risk, Compliance, Legal, and IT & Data Governance.

We believe in the power of difference. It is precisely by combining the differences of people that we become an even better bank. We are therefore curious to see what you will add to our team at Rabo Asset Management.

The colleagues at Rabo Asset Management are responsible for the management of the funds. Collaboration is our way of working here, as one decisive team within Rabobank.

For us, your development and that of society stand side by side. That is why we want to invest in you and work together on a better world. We summarize that in one sentence: "at Rabobank, you work on yourself & the world around you at the same time."

You see this reflected in your own development budget, our hybrid working environment, and a good balance between your work and your home. In addition, you can work on banking matters for our private and business clients, but also on societal issues such as the food and energy transitions.

At Rabobank, we believe that we become stronger through people who complement each other. By embracing our differences, we bring out the best in each other. We seek that diversity in things such as knowledge, skill, and experience, but also in gender, background, and culture. We strive for variety and the space to be yourself, whoever you are, in every department. That is what diversity and inclusion at Rabobank is all about.

The ideal candidate possesses a good understanding of the operational setup of investment funds and the role of parties such as fund administrators, custodians, and depositaries. You do not have to perform these tasks yourself, but you are able to critically assess the quality of the service delivery, identify deviations, and engage in dialogue about these with internal and external stakeholders. Additionally, you possess:

• Academic level of work and thinking
• Extensive relevant experience within asset management operations, fund administration, custody, depositary services, or outsourcing/fund oversight
• Good knowledge of the operational setup and functioning of UCITS funds and the responsibilities of a UCITS manager
• Experience with fund accounting, NAV processes, cash flows, reconciliations, and settlement
• Experience with SLA and KPI monitoring and conducting service reviews with external service providers
• Experience with due diligence of operational service providers and preferably with onsite reviews
• Knowledge of ISAE and other assurance and control reports
• Understanding of governance surrounding outsourcing and knowing how deviations, incidents, findings, and actions are followed up
• The ability to challenge external service providers in a substantive and constructive manner
• The ability to translate complex operational issues into clear conclusions and concrete points of attention for the board
• You speak and write Dutch fluently

Responding to the vacancy Fund Operations & Outsourcing Oversight Manager at Rabobank is possible until 1 November 2026. Applications via email or via a LinkedIn message will not be processed. Therefore, please apply via our website.

• For substantive questions about this position: Bert van den Broek via Bert.van.den.Broek@rabobank.nl.
• Questions about working at Rabobank and the procedure? Linda van Trienen, recruiter via Linda.van.Trienen@rabobank.nl.
• If you are invited for an interview, Bo, our virtual assistant, will contact you via SMS and email to schedule the interviews.
• You can find answers to frequently asked questions here.
• Assessments may be part of the application procedure.
• A reliability screening is part of the procedure. We respect your privacy.