Product Development Associate Director - US Wealth Private Assets

At Barings, we are as invested in our associates as we are in our clients. We recognize those who work diligently for us and reward them for personal and professional integrity, communication skills, distinct competencies and expertise in specific strategies, ability to collaborate as a team member and true dedication to the interests of our clients.

We thank you for your interest in joining the Barings team, and invite you to explore our current employment opportunities.

Title:  Product Development – US Wealth Private Assets, Associate Director

Department: Product Management

Location: Charlotte, US

Barings is a leading global financial services firm dedicated to meeting the evolving investment and capital needs of our clients and customers. Through active asset management and direct origination, we provide innovative solutions and access to differentiated opportunities across public and private capital markets. A subsidiary of MassMutual, Barings maintains a strong global presence with business and investment professionals located across North America, Europe and Asia Pacific.

The mission of the Product Management team is to promote the firm’s growth strategies by driving solutions and championing cross-business collaboration to optimize and deliver commercially viable products and initiatives.  This role sits within the Specialists Product Management team covering primarily US products for the Wealth market for Barings Private / Alternative / illiquid asset classes.

Primary Responsibilities

The Product Development – Specialists role is the internal representative of our Private Asset investment teams, responsible for developing, implementing and maintaining investment products, through their entire lifecycle. The role encompasses proactive market research, analysis and coordinating on new product proposals.

This role will primarily support Barings product strategy, development and ongoing management for Private / Alternative asset classes into the Wealth market.  This role requires strong collaboration with Client Portfolio Managers, Legal, Compliance, Sales, Operations, Investment, Finance and Risk teams, as well as external counsel, fund administrators, service providers and investors to ensure coordination across all stakeholders.

Key areas of focus include:

Product Strategy

• Understand current market trends and activity across all private/alternative asset classes with a focus on the US Wealth market in order to support strategy for development and innovation of appropriate vehicles and investment products.
• Evaluate potential product concepts against client demand, investment fit, operational feasibility, regulatory requirements, economics and strategic priority.
• Stay up to date with current and key product structures as well as relevant regulations that impacts Private Assets into US Wealth products.   
• Draft investment product proposals, term sheets, decision logs, and provide input on investor-facing support materials/ Assist with preparing outputs on product development/innovation which are presented to senior leaders in Sales, Client Portfolio Management, Investment Teams and others as necessary.
• Internally champion and coordinate Private Assets into Wealth products, in close partnership with key stakeholders, and communicate with relevant stakeholders.

Product Development and Launch

• Project manage and socialise fund launches with all relevant stakeholders across Barings.
• Help design and structure products such as non-traded or perpetual BDCs, interval funds, tender-offer funds, private funds relying on Section 3(c)(7), feeder vehicles and separately managed account solutions, as applicable to the strategy and target channel.
• Help drive the structuring of new funds (or modifications), providing input on documentation and financial modelling of new and existing funds, as required.
• Bring market insight and be subject matter expert of fund commercial terms and mechanics (investor subscription, redemption, and other liquidity terms, etc.)
• Maintain technical expertise and understanding of evolving regulatory framework, proactively considering efficient responses to changing requirements.
• Shepherd all product launches through Barings governance process.

Product Management

• Serve as the primary investment team representative to internal business partners related to product level activity (including fund economics and mechanics and investment restrictions).
• Research and socialisation of product trends and innovations, with a specific focus on fund economics and mechanics.
• Product-lead for any changes in regulation that impact our Private Assets into Wealth funds.
• Collaborate with Client Portfolio Managers, Sales and others in the firm to add scalable and effective new distribution avenues, platforms, structures, intermediaries, as relevant to assist relevant Products to grow and stay relevant in the market.

Qualifications and Experience

·         +5 years’ experience with practical and detailed knowledge of working with Private Asset US Wealth Funds including distribution, product structures and understanding of external positioning.

·         Solid understanding and hands on experience with US 40 Act, BDC, US Private Funds range product strategy, development and management.

• Clear communicator.
• Highly organised, numerate with strong attention to detail and excellent project management skills.
• Advanced Excel skills.
• Preferred
  • CFA or other equivalent qualification.
  • Knowledge and experience of European and/or APAC product solutions for the Wealth market

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Requisite Skills

Additional Skills

Barings is an Equal Employment Opportunity employer; Minority/Female/Age/Sexual Orientation/Gender Identity/Individual with Disability/Protected Veteran. We welcome all persons to apply.

Barings offers a comprehensive benefits package including:

CORE BENEFITS & WELLNESS

• Medical (including Virtual Care), Prescription, Dental, and Vision Coverage
• Fitness Center Reimbursement Program (Including Online Memberships)
• Employee Assistance Program (EAP)
• Fertility Benefits

FINANCIAL WELL-BEING

• Highly competitive 401(k) Plan with Company Match
• Health Savings Account (HSA) with Company Contributions
• Flexible Spending Accounts (FSA) - Health Care & Dependent Care
• Retirement Health Reimbursement Account

LIFE INSURANCE

• Basic and Supplemental Life Insurance
• Spouse and Child Life Insurance

TIME OFF, DISABILITY AND LEAVE OF ABSENCE

• Paid Vacation, Sick Days and Annual Holidays
• Paid Leave of Absences (Maternity Leave, Parental Leave, Caregiver Leave, Bereavement Time)
• Short and Long Term Disability Plans
• Paid Volunteer Time

 OTHER BENEFITS

• Education Assistance Program
• Charitable Matching Gifts Program
• Commuter Reimbursement Program
• Adoption and Surrogacy Reimbursement Program