Stéphane B
IDIA Capital Investissement is an asset management company and the members of the Middle Office (MO) are asset managers. They take part in carrying out and monitoring investments, supporting the Front Office (FO) team, working with the legal team and compliance, and are a point of contact for treasury and accounting. Hence the name “Middle”! The MO takes part in many other tasks, including preparation of the funds’ annual reports, independent controls of valuations and drawing up the minutes of investment committee meetings.
It is also in regular contact with entities outside IDIA Capital Investissement: fund investors (mainly the Regional Banks, LCL and CA Assurances), statutory auditors for valuations, the custodian, etc.
It takes part in discussions with the other private equity players in the Crédit Agricole Group.
How would you describe the position of Middle Office Manager?
My role as Middle Office Manager is first of all to create team spirit through an atmosphere of trust and a way of working based on collaboration.
The asset manager also has to help with training and control the work to ensure accuracy. We can’t afford to make mistakes!
What are the peak periods of your job during the year?
The key periods for the MO are the days prior to investment operations and preparation for the valuation committee meetings. At those times we work closely with investors: in the former case, to help them while the investment operation is being set up; and in the latter case, to challenge them over the half-year valuations of our equity investments.
15 May to 15 July and 15 November to 15 January are peak periods of activity for the MO.
What career path is required to reach your position and what are the possibilities for development?
My career path? It’s long! After completing a two-year Masters degree in Business Finance, I started as a credit analyst for Large Corporates and then became Business Customer Manager at LCL. Over a period of six years, this took me from Montpellier to Nantes via Marseille.
I then joined the Acquisition Financing Middle Office, which later became CACIB, staying there for five years.
I then took off my banker’s “hat” to work in private equity, at Credit Agricole Private Equity (now Omnes Capital). I then had the opportunity to join IDIA Capital Investissement and discovered a new experience: asset management.
I don’t think there are many groups that can offer as many professional and geographical opportunities.
My experiences in private equity and as a customer manager taught me about the role and gave me valuable understanding of the real constraints on both Front and Back Office functions.
What advice would you give to someone thinking of taking up a similar position?
I have a secret: if you want to get a Middle Office job at IDIA Capital Investissement, say you are a team player!