Depositary Associate

The Company

Langham Hall is one of the fastest growing businesses in the alternatives fund administration sector. It is also one of the last remaining owner managed businesses, providing premium quality accounting, administration and investor reporting services to private equity and fund clients. Langham Hall has a dynamic management and leadership team, all of whom are involved in client work which ensures a rigorous focus on quality of client work and support for the teams. The group has a presence in the UK, Jersey, Guernsey, Luxembourg, Hong Kong, Singapore and New York and 800 staff administering more than $190bn of private equity and real estate funds. Langham Hall is also a leading provider of AIFMD services, with depositary services safekeeping more than $190bn of assets. It is licensed as a Host AIFM and Depositary in the UK and Luxembourg in respect of private equity, real estate, debt and infrastructure funds.

Key Responsibilities

- Coordinate Depositary Services: Coordinate day-to-day Depositary delivery for an allocated portfolio of real estate, private equity, venture capital, private credit and infrastructure funds, ensuring work is appropriately planned, allocated, tracked and completed.
- Client Portfolio Management: Act as the primary day-to-day contact for allocated clients and take ownership of delivery across the portfolio. Maintain live delivery trackers, coordinate Analyst allocations and escalate capacity, quality or deadline risks to the Senior Associate promptly.
- Client Meetings and Reporting: Organise and lead routine client meetings, manage agendas and actions, and coordinate quarterly reporting timetables so that key events, monitoring outcomes and Depositary findings are accurately captured and delivered within agreed timescales.
- Client Relationship Management: Build positive client relationships through clear, structured and proactive communication. Set expectations on information requirements and deadlines, follow actions through to completion and raise service or scope concerns early.
- Coaching and Review: Delegate appropriate work to Analysts with clear instructions, review work where authorised, and provide timely, constructive technical and client-specific feedback to support accurate delivery and development.
- Team Mentorship: Hold regular one-to-ones or mentoring discussions with junior team members where required, supporting their technical knowledge, client-service skills, workload management and progress against agreed development objectives.
- Client Onboarding: Coordinate day-to-day client take-on activity, including review of fund documentation, preparation and maintenance of Masterfiles, monitoring plans and registers, establishment of client operating processes, and timely resolution of onboarding information gaps.
- Risk Assessment and Controls: Complete client take-on and periodic risk assessments, maintain clear audit trails, identify control weaknesses or risk events, and ensure issues are reported accurately, transparently and in line with internal escalation procedures.
- Key Event Oversight: Take ownership of Depositary testing for key events, including subscriptions, drawdowns, acquisitions, disposals, distributions and terminations. Review supporting evidence and Analyst work, track outstanding information and ensure testing follows approved processes.
- Cash Monitoring: Coordinate cash-monitoring arrangements during client take-on, perform and review reconciliations, analytical reviews and substantive testing, investigate unsupported or unusual transactions, and take ownership of higher-risk matters in line with AIFMD requirements.
- Asset Safekeeping and Verification: Verify the existence, ownership and fund entitlement of assets; assess compliance with fund-document restrictions; maintain accurate asset registers; track asset movements and outstanding evidence; and take ownership of higher-risk verification matters.
- Custody Oversight: Where applicable, perform daily custody-asset reconciliations, investigate and record differences, retain appropriate evidence and escalate newly identified custody assets or unresolved exceptions promptly.
- Fund Oversight: Apply the three Depositary oversight pillars and relevant AIFMD requirements to monitor the fund and fund manager against agreed controls, procedures, fund documentation and investment restrictions.
- Annual Reviews: Coordinate annual reviews and annual asset-verification work, issue information requests in a timely manner, follow up outstanding documentation and ensure Masterfiles, monitoring plans and registers are updated for changes identified.
- Quality, Accountability and Timeliness: Deliver accurate work within agreed timeframes, maintain complete records and audit trails, independently identify matters requiring action, and escalate errors, delays, information gaps or control concerns early and transparently.

- Regulatory Reporting: Demonstrate strong knowledge of the Annex IV process from client take-on through drafting, review, submission and resolution of filing errors. Review preparers' work, manage client information requests and follow-ups, and support delivery during high-volume reporting periods.
In addition to the duties listed above, the candidate may be requested to perform other ad hoc work from time to time.

Skills, Knowledge and Expertise

- Strong organisational and workload-management skills, with the ability to plan, prioritise and track multiple client deliverables, meetings and deadlines effectively.
- Prior experience in Depositary services, fund administration, accountancy, audit, compliance or another relevant financial-services control function is preferred.
- Experience working with real estate, private equity, private credit, venture capital or infrastructure funds, including the review of fund constitutional documents and transaction evidence, is advantageous.
- Solid understanding of control frameworks, risk assessment, issue escalation and the importance of maintaining a clear audit trail.
- Excellent attention to detail, coupled with a proactive, accountable and inquisitive mindset and the confidence to identify and escalate potential issues.
- Ability to apply AIFMD principles pragmatically across cash monitoring, asset safekeeping and verification, and oversight of fund operations and key events.
- Comfortable working in a dynamic, collaborative and performance-driven environment, taking ownership of delivery while supporting and coaching junior colleagues.
- Ability to review and coordinate the work of others, provide clear instructions and constructive feedback, and maintain quality under deadline pressure;
- Strong verbal and written communication skills, including the ability to lead routine client meetings, explain information requirements clearly and manage actions to completion; and
- A commitment to pursuing the CAIA (Chartered Alternative Investment Analyst) qualification is expected, unless an alternative qualification is agreed in advance. Full study support will be provided following successful completion of the six-month probationary period.