Chief Risk Officer Private Markets
Role Purpose
The Chief Risk Officer Private Markets (CRO) is responsible for establishing, leading, and continuously enhancing the firm's enterprise and investment risk framework across all private market activities. The role provides independent oversight of risk-taking, ensuring disciplined capital deployment, robust portfolio construction, and alignment with the firm's strategic, fiduciary, and regulatory objectives.
The CRO is a senior member of executive management and a trusted advisor to the Board, Investment Committee, and senior investment leadership.
Key Responsibilities
1. Investment & Portfolio Risk Oversight
- Provide independent risk oversight across private equity, private credit, real assets, infrastructure, aviation, structured investments, and co-investments.
- Review and challenge investment underwriting, valuation assumptions, downside scenarios, exit strategies, and capital structures.
- Oversee portfolio construction, concentration limits, sector/geographic exposure, leverage, and vintage risk.
- Monitor portfolio performance, covenant compliance, impairment risk, and stress testing outcomes.
- Establish early-warning indicators and risk escalation protocols for underperforming assets.
2. Enterprise Risk Management (ERM)
- Design and maintain an integrated enterprise risk management framework covering investment, credit, market, liquidity, operational, counterparty, and reputational risk.
- Ensure alignment between risk appetite, investment strategy, capital allocation, and liquidity planning.
- Own the firm's risk appetite statement and risk policies for private market activities.
- Oversee business continuity, operational resilience, and key third-party/vendor risks.
3. Governance & Committees
- Serve as a standing member of the Investment Committee and Risk Committee, with authority to escalate or veto transactions that breach risk parameters.
- Prepare and present risk reporting to the Board and senior stakeholders, including portfolio risk dashboards and scenario analyses.
- Ensure strong documentation, audit trails, and governance standards across the investment lifecycle.
4. Regulatory, Compliance & Stakeholder Management
- Act as the primary senior risk interface with regulators, auditors, depositaries, and external advisors.
- Ensure compliance with applicable regulatory frameworks across fund structures, managed accounts, and balance-sheet investments.
- Support product structuring and fundraising from a risk, disclosure, and investor-protection perspective.
- Oversee valuation governance in coordination with finance and external valuation agents.
5. Risk Infrastructure & Analytics
- Lead the development of risk analytics, stress testing, portfolio monitoring tools, and data frameworks for private assets.
- Oversee implementation of risk systems, models, and reporting platforms.
- Promote data-driven decision-making across investment teams.
6. Leadership & Culture
- Build and lead a high-calibre risk function covering investment risk, portfolio risk, and enterprise risk.
- Foster a strong risk culture that balances entrepreneurial investment activity with disciplined risk management.
- Act as a mentor and thought partner to senior investment professionals.
Ideal Candidate Profile
Experience
- 15+ years of senior experience in private markets risk, investment risk, or portfolio risk management.
- Background from a private equity firm, private credit platform, sovereign wealth fund, investment bank, asset manager, or alternative investment house.
- Deep hands-on exposure to complex transactions, leveraged structures, and illiquid asset portfolios.
- Experience working closely with Boards and Investment Committees.
Technical Expertise
- Strong command of:
- Private equity and private credit underwriting
- Valuation methodologies (DCF, comparables, NAV, model-based valuations)
- Portfolio construction and stress testing
- Fund structures, SPVs, co-investment vehicles, and managed accounts
- Strong understanding of regulatory, fiduciary, and investor-reporting requirements for private markets.
Leadership & Personal Attributes
- Gravitas and independence of thought, with the ability to challenge senior stakeholders constructively.
- Highly analytical, commercially astute, and detail-oriented.
- Strong communication skills, capable of translating complex risk issues into clear executive and board-level insights.
- High ethical standards and strong judgment.
