We are global private markets specialists delivering tailored investment solutions, advisory services, and impactful, data driven insights to the world’s investors. Leveraging the power of our platform and our peerless intelligence across sectors, strategies, and geographies, we help identify the advantages and the answers our clients need to succeed.
Position Overview
The Associate will be responsible for implementing the risk management framework across private debt funds, with a particular focus on FX risk, asset-liability management (ALM), credit facility oversight, and compliance with AIFMD requirements. This includes ensuring adherence to investment guidelines, restriction checks, and liquidity monitoring.
The role offers broad exposure across the risk function and involves close collaboration with legal, reporting, and operations teams. The Senior Associate will contribute to the development of risk reporting, stress testing, and governance processes, while supporting the team in all aspects of its remit.
The ideal candidate will have strong analytical and communication skills, be able to manage competing priorities, and demonstrate a high level of attention to detail. This is a hands-on role suited to a proactive self-starter with a strong understanding of private markets and fund-level risk management.
Essential Job Functions:
- Monitor and manage FX exposures across private debt portfolios
- Support the execution and risk assessment of FX hedging strategies
- Oversee the risk and governance framework for fund-level credit facilities
- Prepare investment controlling/guidelines reports for all funds managed by the AIFM
- Ensure pre-trade compliance for loan investments
- Ensure eligibility for secondary investments
- Participate in internal risk, investment, and treasury committees.
- Analyse and process business data to address ad-hoc requests
- Ensure consistent documentation of tasks, tools, processes and interfaces
- Identify cross training and coverage across the team
Education and/or Work Experience Requirements:
- Bachelor/Masters degree from a top-tier college in a relevant field
- 4-6 years of relevant experience
- Proficiency in FX instruments, hedging strategies, and liquidity management
- Familiarity with risk systems, data analytics tools, and investment compliance platforms
- Strong understanding of AIFMD and regulatory frameworks applicable to private markets
Required Knowledge, Skills, and Abilities
- Flexibility—StepStone is a dynamic and entrepreneurial organization; all professionals are expected to perform multiple functions
- Experience with alternative investments is a positive
- Ability to prioritize activities while working on multiple projections and achieve target deadlines
- Acute attention to accuracy and detail
Other Attributes:
- Willingness to work a flexible schedule
- Promote and demonstrate a positive, team-oriented attitude
- Dynamic, smart, hard-working and a self-starter
- High level of confidentiality
- Commitment to learning
Employee Benefits:
- Competitive salary, and a discretionary bonus
- Private medical insurance
- Death in service and income protection benefit
- Company pension scheme matched contribution
- 25 days holidays per annum
- Professional development support
At StepStone, we believe that our people are our most important asset and crucial to our success. We are an Equal Opportunity Employer that strives to create an environment that empowers our employees and allows them to be heard, regardless of title or tenure. Our organizational community features multiple Employment Resource Groups as well as mentorship programs to enhance the employee experience for all.
As an Equal Opportunity Employer, StepStone does not discriminate on the basis of race, creed, color, religion, sex, national origin, citizenship status, age, disability, marital status, sexual orientation, gender identity, gender expression, genetic information or any other characteristic protected by law.
Developing People at StepStone
