External Alpha Operational Risk Analyst; Career Returner Programme

Job Application for External Alpha Operational Risk Analyst (Career Returner Programme) at Man Group New London  About Man Group

Man Group is a global alternative investment management firm focused on pursuing out performance for sophisticated clients via our Systematic, Discretionary and Solutions offerings. Powered by talent and advanced technology, our single and multi-manager investment strategies are underpinned by deep research and span public and private markets, across all major asset classes, with a significant focus on alternatives. Man Group takes a partnership approach to working with clients, establishing deep connections and creating tailored solutions to meet their investment goals and those of the millions of retirees and savers they represent.

Headquartered in London, we manage $213.9 billion
* and operate across multiple offices globally. Man Group plc is listed on the London Stock Exchange under the ticker EMG.LN and is a constituent of the FTSE 250 Index. Further information can be found at

* As at 30 September 2025

During the six-month programme, you will work on professional assignments based on your skills and interests and will benefit from coaching through the transition period from Career Returners, together with internal mentoring and network access. At the end of the programme, there will be the possibility of a permanent role with the organisation.

Man Group strongly believes in flexible working and encourages applications from people who want flexibility in their working arrangements.

Man Group is keen to hear from candidates who have had a career break of at least 24 months (as of April 2026), with relevant previous experience within Operational Risk.

The Solutions business at Man Group houses Man’s External Alpha group (fka FRM). The External Alpha business allocates capital on behalf of Man’s clients to third-party alternatives managers. The External Alpha Operational Risk (“OpRisk”) team plays a critical role in safeguarding client capital by conducting operational due diligence on third-party investment managers. The team is responsible for assessing the operational robustness and business practices of alternative investment managers (primarily hedge funds) before and during investment, ensuring that risks are identified, mitigated, and communicated effectively.

Operating across both New York and London, the team collaborates closely with professionals from investment research and risk teams, legal and compliance, and other control functions. Externally, the team engages with fund managers, administrators, and other service providers to gather insights and validate operational practices across third-party managers. The role offers exposure to a wide variety of investment strategies and operational models, making it an excellent opportunity for someone looking to deepen their understanding of alternative asset management and contribute meaningfully to a high-impact function.

The team is looking for a highly organised, self-motivated, curious, and flexible team member to join its team in London. This role will offer the candidate the ability to learn about alternative investment operations in a team environment.

• Conduct deep-dive operational due diligence reviews of external managers across hedge funds and to a lesser extent private markets.
• Participate in on-site and virtual meetings with subject matter experts (C-Suite) at third-party fund managers and service providers to assess operational infrastructure and controls.
• Draft detailed due diligence work papers and formal reports for internal committees and clients, highlighting key risks and mitigation strategies. Communicate results of reviews both internally to External Alpha’s Risk and Investment Committees as well as externally to clients.
• Collaborate with global team members to ensure timely and high-quality delivery of reviews and projects.
• Monitor ongoing developments and changes to existing manager relationships, escalating concerns as appropriate.
• Maintain awareness of industry best…