Product Manager - Fund Admin

Role Summary

FINBOURNE is seeking an exceptional Product Manager to lead the design and delivery of a comprehensive Fund Administration module on the LUSID platform. This is a rare opportunity to define a new product vertical from the ground up, built on a proven, enterprise-grade platform, extending a modern investment data platform into the fund administration space. This role demands a hands-on Product Manager who is comfortable working in close partnership with engineering teams — writing detailed specifications, engaging in technical design sessions, and owning the product detail end-to-end.

You will work directly with world-class engineers and domain experts to build functionality across six major domains. The challenge — and the opportunity — is translating LUSID's architectural advantages into specific workflows that fund administrators, GPs, Investors and LPs will find transformative compared to the incumbent market.

The right candidate will have lived and breathed fund administration software. They will know from first-hand experience where today's incumbent platforms fall short, and will have the conviction and domain depth to guide the build of something definitively better.

Key Responsibilities

• Own the product vision end-to-end. Define, communicate, and execute the strategy for the Fund Accounting module — from complex multi-entity fund structures through to LP investor portals and performance reporting.
• Translate deep domain knowledge into product requirements. You understand how a fund administrator operates on a daily basis. You know what it feels like to reconcile a capital call across a master-feeder structure, to model carry waterfalls, or to produce ILPA-compliant fee transparency reports. You will translate that lived experience into clear, precise, prioritised product specifications.
• Champion the end user at every stage of delivery. You will be the voice of the GP, IM, Investor, fund administrator, and operations team inside the engineering squads — ensuring every design decision reflects real-world workflows, not theoretical constructs.
• Lead structured discovery and design sessions. Work cross-functionally with engineering, architecture, and client-facing teams to resolve complex questions around data models, allocation path logic, commitment registers, and entity hierarchies.
• Engage directly with clients and prospects. Bring market intelligence from firms using incumbent platforms into the product build — identifying competitive gaps and opportunities for differentiation.
• Own the competitive benchmark. Maintain a live view of how the platform compares to market leaders (FIS SS&C, Multifunds) across functional domains, and drive the programme to close identified gaps.

The PE module is structured across six core functional domains. As Product Manager, you will own the delivery of roadmap and product vision across various domains, with dedicated engineering squad support:

• Fund Structure & Setup — Modeling the fund itself: share classes, series, master-feeder structures, and fee schedules, configured once and reused everywhere downstream.
• Position & Transaction Engine (IBOR) — Real-time trade capture, position keeping, and corporate actions across strategies and instrument types — the live book everything else is built on.
• General Ledger & NAV Engine (ABOR) — Multi-basis general ledger and daily NAV calculation, the core accounting record a fund lives or dies by.
• Investor Accounting, Allocations & Fees — Subscriptions, redemptions, capital accounts, and the fee mechanics (management, incentive, high-water mark, hurdle) applied down to each investor.
• Reconciliation & Control — Prime broker and custodian reconciliation, break management, and audit trail — the layer that lets operations teams sign off with confidence.
• Reporting & Investor Communications — Investor statements, regulatory reporting, and data distribution to auditors, administrators, and investors — the client-facing outcome of everything above.

Skills and Experience

Essential:

• Minimum 8 years’ experience in Hedge fund administration, operations, or technology — either at a fund administrator, a Hedge Fund, or a Alternative Funds software vendor. You must have worked directly with Hedge fund administration processes, not just adjacent to them.
• Deep, hands-on familiarity with at least one leading Hedge fund administration platform with in depth understanding its data model, its workflow logic, its limitations, and what workarounds administrators routinely build around it.
• Demonstrated ability to translate complex Hedge operational workflows into product requirements. Examples include: commitment tracking and capital call modelling, distribution waterfall mechanics (deal-by-deal, whole fund, European/American), ILPA-compliant reporting, carried interest calculations, subsequent close equalisation, and fund-of-funds lookthrough P&L.
• Strong understanding of IM/Investor relationship management — including investor onboarding, capital account statements, K-1 reporting, AIFMD Annex IV, and portal requirements.
• A track record of defining and delivering complex software products — whether gained within a fund administration firm or a financial technology company, you will have owned a product area end-to-end from discovery through to production release. If you have most of the domain experience we are looking for, we strongly encourage you to apply even if your product management background is still developing.
• Platform, not just workflow, product thinking. LUSID is API-first and config-driven, so the "feature" is often a schema or entity model, not a screen. Needs to read and challenge an ERD, and turn messy real-world fund variation into a generalized, configurable model rather than special cases
• Migration and competitive instincts. Understands why funds actually switch platforms — parallel-run requirements, audit continuity, migration risk — and can sequence a build so funds can go live safely in phases.
• Stakeholder range. Runs discovery directly with fund controllers, COOs, auditors, and administrators, and translates fluently between accountant-speak and engineering spec.

Desirable:

• Exposure to credit or private debt fund administration — PIK interest, OID, loan administration, and CLO/CDO structures.
• Familiarity with accounting standards as applied to Hedge Funds — fair value measurement, IFRS 9/US GAAP ASC 815.
• Experience in a start-up or scale-up product environment — particularly one undergoing rapid expansion of a core financial platform.
• Proficiency with data query tools (SQL, Python at a basic level, or similar) — ability to interrogate a dataset to validate a product assumption independently.
• CFA, CAIA, ACA, ACCA, or relevant professional qualification in investment management, financial analysis, or accounting.