Operational Due Diligence Analyst - (Internship/Junior Position)

Company Description:

Founded in 2004, NewAlpha Asset Management is a Paris-based alternative investment specialist and a recognized leader in manager incubation. We are dedicated to offering innovative and customized investment solutions, primarily through Fund of Funds and mandates for institutional investors.

As an entrepreneurial subsidiary of the La Française Group (the asset‑management holding company of Crédit Mutuel Alliance Fédérale), NewAlpha combines the agility and focus of a boutique organization with the stability and resources of a major financial group. Our team of recognized experts currently manages and advises on approximately $4 billion in assets for clients ranging from pension funds and insurance companies to corporations and family offices. This success is built on a rigorous process of sourcing, selection, deep investment and operational due diligence, a core pillar of our investment philosophy, to connect our clients with leading investment strategies worldwide.

To support our continued growth, NewAlpha is currently seeking a professional to join our Operational Due Diligence Team.

About the Role:

Join our team as an Operational Due Diligence ('ODD') Analyst, a critical role supporting our firm’s investment process. Your mission will be to conduct in-depth analyses of the organizational and operational structures of asset management companies and investment funds, including hedge funds, long-only funds, private debt, and private equity strategies.

This role offers a unique opportunity to gain direct exposure to both established global leaders and high-potential emerging asset managers, exploring a diverse array of complex and innovative investment strategies. You will participate directly in investment decision-making processes across our Fund of Funds mandates, working closely with the Head of Operational Due Diligence, Investment Analysts, and Portfolio Managers to ensure capital is allocated to robust, institutional-grade operations.

Through hands-on engagement with COOs, CFOs, and CCOs, you will develop a deep understanding of how leading asset managers build resilient operations, identify signs of operational risk, and gain expertise in Operational Due Diligence. This role also provides the chance to build a comprehensive understanding of global asset management practices and collaborate with high-performing investment teams in a dynamic, supportive environment.

Core Responsibilities:

Analyze Management Company Structures

• Conduct thorough reviews of asset management companies across Europe, the US, and Asia, examining legal documents, constitutive agreements, and governance frameworks to ensure the firm operates in compliance with relevant regulations and industry standards.
• Assess financial statements, team structures, and organizational hierarchies to understand the company’s operations, decision-making processes, and identify potential conflicts of interest.

Assess Operational & Technology Frameworks

• Perform in-depth evaluations of operational infrastructure, including trade lifecycle processes, middle- and back-office functions, and reporting workflows.
• Review trading systems, risk management frameworks, compliance tools, and technology platforms to identify potential gaps, inefficiencies, or vulnerabilities.
• Assess cybersecurity policies, data management practices, and operational resilience to mitigate the risk of fraud, error, or operational disruption.

Evaluate Fund Structures and Terms

• Examine the specific characteristics of investment funds, including their legal terms, governance, valuation policies (especially for illiquid assets), and the roles of third-party service providers.
• Identify structural or operational features that could pose risks to investors or limit the ability to execute investment strategies efficiently.
• Participate directly in conference calls, video meetings and on-site visits with COOs, CFOs, CCOs and other senior executives. You'll learn to ask insightful questions that test their controls and assess the quality of their people and culture.

Prepare Reports & Recommendations

• Synthesize your findings into comprehensive operational due diligence reports, highlighting key risks, strengths, and recommendations.
• Present and discuss these reports with internal investment committees, helping to inform and influence investment allocation decisions.
• Where applicable, collaborate in client-facing presentations, communicating insights and due diligence findings to investors or external stakeholders.

Profile / Candidate Requirements:

We are looking for a Master’s-level student completing their final internship (compulsory internship agreement), ideally enrolled in a Business School specializing in Finance or Asset Management, or in a University program focused on Economics. There will be the possibility of a permanent position at the end of the internship for candidates who demonstrate strong alignment with the team and its objectives.

Alternatively, young professionals with 2 years of relevant experience in asset management or audit are also encouraged to apply. Outstanding candidates from this group may be considered for a full-time hire, depending on their skills, experience, and fit with the team.

The ideal candidate demonstrates:

• Curiosity and a strong willingness to learn, with a genuine interest in operational risk, investment management, and alternative assets.
• Autonomy and proactivity, while being able to work collaboratively with senior analysts, portfolio managers, and other stakeholders.
• Analytical rigor, attention to detail, and the ability to synthesize complex information into clear, actionable insights.
• Fluency in English and French is required, both written and spoken.

• To apply: Please send your résumé and a brief cover letter directly to lnguyen@newalpha.net with the subject line 'ODD Analyst Application - Your Name'.