Risk & Compliance Associate / Vice President -… at Alantra · Spain -…

Risk & Compliance Associate / Vice President - Asset Management & Equities

Location: Spain - Madrid

About Alantra

Alantra is an independent global financial services firm that provides investment banking and asset management services to midmarket companies, families, and investors. The Group has over 500 professionals in Europe, the U.S., Latin America, Asia, and the Middle East.

In Investment Banking, Alantra has completed over 1,000 transactions in the last five years. Alantra combines a strong local presence in key financial centers with global sector- and product-specialized teams.

In Alternative Asset Management, Alantra offers its clients unique access to a wide range of investment strategies in five highly specialized asset management classes (private equity, active funds, private debt, energy, and venture capital). As of 31 December 2025, assets under management from consolidated businesses stood at c. €2.7bn, while those managed by firms in which the Group holds a strategic stake amounted to c €14.5bn

Job Description:

Department: Risk & Compliance (R&C)

Business coverage: Asset Management and Equities

Location: Madrid, Spain

Business Focus

Alantra is a global independent financial services group providing specialist advisory and investment solutions. Its activities span Investment Banking, Asset Management and Equities Brokerage & Research. The Risk & Compliance function supports businesses and investment activities across the Group.

The role will initially focus on Asset Management, with responsibilities progressively expanding to cover Equities Brokerage & Research and related MiFID investment services.

Relevant Asset Management strategies include private equity (buyout, growth, co-investments and secondaries), private debt / private credit (including direct lending), infrastructure and real assets, climate and energy-transition investments, solar and other renewable-energy assets, as well as listed-equity and alternative investment strategies..

Role Purpose

The Associate / Vice President will strengthen the second-line Risk Management, Compliance and internal control framework across the relevant businesses. The role combines investment and operational risk oversight with regulatory compliance, control testing, monitoring and governance reporting.

Working closely with investment teams, business management and relevant control functions, the successful candidate will identify and challenge risks, assess the effectiveness of controls and help translate regulatory requirements into proportionate, practical arrangements.

Key Responsibilities

1. Investment and Portfolio Risk Management

§ Risk Identification and Assessment: Assist in identifying, assessing, monitoring and reporting fund and portfolio risks, including credit, counterparty, concentration, market, liquidity, valuation and operational risk, as applicable to each strategy.

§ Portfolio Risk Monitoring: Monitor portfolios against investment mandates, concentration limits, risk appetite, fund documentation and relevant internal policies; analyse exceptions and support timely escalation.

§ Private Markets Risk: Support risk assessment of illiquid and private-market investments, including private equity, direct lending, infrastructure and renewable-energy portfolios, taking account of asset-specific risks.

§ Liquidity and Leverage Risk: Contribute to monitoring of leverage, liquidity, stress testing, cash-flow and refinancing exposures across relevant investment strategies.

§ Valuation Risk: Support independent valuation governance, including valuation methodologies, challenge of material assumptions, committee materials and management of valuation-related conflicts.

§ Risk Reporting: Prepare clear investment-risk reporting and analysis for risk committees, management bodies and other governance forums.

2. Asset Management Regulation and Fund Compliance

§ AIFMD Compliance: Support compliance oversight under AIFMD and applicable local implementation in Spain, including governance, organisational arrangements, fund-level investment restrictions and regulatory change.

§ Fund Compliance Monitoring: Review the operation of fund controls against constitutional documents, offering materials, investment policies and investor commitments, with appropriate escalation of breaches.

§ Delegation and Outsourcing Oversight: Assist with oversight of delegated and outsourced activities and third-party service providers, including administrators, depositaries and external valuers, where applicable.

§ Conflicts of Interest: Assess conflicts involving related-party transactions, allocation of opportunities, cross-fund investments and other potential conflicts arising from fund structures and investment activities.

§ Fund Marketing and Distribution: Support compliance oversight of fund marketing, fundraising and investor disclosures, including applicable AIFMD marketing requirements and cross-border distribution restrictions.

3. MiFID / Equities Compliance and Market Conduct

§ MiFID Compliance: Support compliance monitoring of relevant MiFID II / MiFIR investment services, including conduct of business, client classification, conflicts of interest and applicable investor-protection controls.

§ Best Execution and Order Handling: Assist with review of best-execution arrangements, order handling, inducements, research-related requirements and client disclosures where relevant to the firm’s activities.

§ Market Abuse Prevention: Monitor market-abuse controls under applicable EU or UK market-abuse rules, including inside information, restricted lists, personal account dealing and information barriers.

§ Equities Brokerage and Research: Contribute to reviews of institutional sales, brokerage and research activities, including applicable transaction reporting, recordkeeping and surveillance arrangements.

4. Operational Risk, Internal Controls and Compliance Monitoring

§ Risk and Control Framework: Maintain and improve risk and controls inventories, risk indicators and risk and control self-assessments, where used.

§ Compliance Monitoring and Testing: Execute or support risk-based compliance monitoring, control testing, thematic reviews and follow-up of corrective actions.

§ Operational Risk Management: Assess operational incidents, control failures, outsourcing risks and emerging exposures; track root causes, owners and remediation deadlines.

§ Governance and Operational Resilience: Support reviews of governance, segregation of duties, delegated arrangements and business continuity / operational resilience controls, as applicable.

§ Audit and Regulatory Reviews: Assist with internal and external audits, regulatory examinations and evidence-based responses to supervisory findings.

5. Governance, Regulatory Reporting and Group Coordination

§ Management and Committee Reporting: Prepare concise risk and compliance management information, internal control reports, committee papers and reporting for senior management and governing bodies.

§ Group Risk & Compliance Coordination: Coordinate across the relevant regulated entities and Group Risk & Compliance to promote consistent oversight.

§ Regulatory Reporting and Engagement: Support regulatory notifications, returns, inspections and communications with relevant authorities, including the CNMV and other European regulators where appropriate.

§ Regulatory Developments: Monitor relevant regulatory developments (including changes to AIFMD, MiFID, sustainability and digital operational resilience rules) and help assess and implement their practical impact.

Requirements:

Required Skills & Experience

Essential

§ At least three years of relevant professional experience in Risk Management, Compliance or internal control, preferably gained within a Spanish investment management company (SGIIC or SGEIC), an investment services firm (ESI), or a specialist consultancy providing risk and compliance services to these types of regulated entities. Equivalent experience within other EU-regulated asset managers or investment firms will also be considered.

§ Practical experience applying AIFMD and/or MiFID requirements, with sufficient depth in at least one environment to assess risks and controls independently.

§ Working knowledge of investment products, fund structures or capital-markets services relevant to asset management or equities, supported by exposure to their operational processes.

§ Experience identifying control weaknesses, analysing risks, documenting findings, preparing management information and following through on remediation.

§ Ability to engage effectively with investment teams, senior stakeholders and other control functions, exercising sound judgement and constructive challenge.

§ Strong analytical, organisational, written and verbal communication skills, with attention to detail and the ability to manage competing priorities.

Desirable / Additional Exposure

§ Experience in one or more alternative-asset strategies: private equity (including co-investments or continuation funds), private credit / direct lending, infrastructure, real assets, climate / energy transition or solar and renewable energy.

§ Exposure to fund and portfolio risk, credit assessment, covenant monitoring, valuation governance, liquidity management, leverage or stress testing.

§ Understanding of UCITS, SFDR, EU Taxonomy, DORA and evolving AIFMD requirements, where applicable to relevant business activities.

§ Experience in equities brokerage, institutional sales, investment research or associated MiFID conduct and market-abuse controls.

§ Familiarity with Spanish and wider EU supervisory requirements, cross-border fund distribution and relationships with external service providers.

Personal Attributes

§ Pragmatic, risk-aware and commercially minded, with the confidence to challenge appropriately.

§ Comfortable working across different investment strategies, regulatory regimes and legal entities.

§ Proactive and organised, with strong ownership of control testing, reporting and follow-up actions.

§ Collaborative, discreet and able to communicate technical issues clearly to non-specialists.

Qualifications

§ Degree in Law, Finance, Economics, Business or a related discipline, or equivalent relevant professional experience.

§ Professional qualifications in risk management, regulatory compliance or investment management, such as Financial Risk Manager (FRM), Chartered Financial Analyst (CFA), Certificado de Compliance (CESCOM), or relevant certifications from the Chartered Institute for Securities & Investment (CISI) or International Compliance Association (ICA), or equivalent, are advantageous.