Director of Mutual Funds
Nordnet redefined the financial world as the first digital bank in Europe. Now we are about to do it again and the aim is to create the next generation of bank, in the cloud.
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Nordnet is a leading pan-Nordic digital platform for savings and investments. Ever since we started 25 years ago, our purpose has been to democratize savings and investments. Through innovation, simplicity, and transparency, we challenge traditional ways in the financial industry, and give private savers access to the same information, tools and services as professionals. Our ambition is to inspire, encourage and enable people to take their savings to the next level, no matter who they are. Watch a short introduction to Nordnet here.
Help us transform the way people save and invest. Become part of journey to build an inspiring and innovative platform for savers and investors in the Nordics. Here's your opportunity!
In brief
At Nordnet, we exist to democratize savings and investments. Through leading UX, cutting-edge financial products, and automated and inspiring customer journeys, we are building the best platform for savings and investments – enabling higher returns for our customers.
Over the past three years, we have established Mutual Funds as its own business area, moved Fund operations into the business and established a Fund company (Nordnet Fonder AB). Nordnet has also launched three flagship strategy funds called Nordnet One as well as a number of own-brand index funds including Nordnet Tech Index, Nordnet Global 125 (with leverage) and Nordnet Swedish Small Cap. In total, customer savings capital in funds now exceeds SEK180bn of which over SEK50bn in Nordnet’s own brand mutual funds!
Nordnet is a dynamic and exciting company to work for that is on a growth journey across the Nordics. This role will be part of a high performing CPO management team alongside the Directors of Securities Brokerage, Credit & Payments, Pension Business, Product and Nordic Marketing. In this role, the candidate will have the possibility of shaping the future of Nordnet’s fund business and to continue the growth journey that has seen fund AUM grow from SEK82bn in 2019 to 184bn in 2023 – twice the rate of total savings capital – with over one quarter of that capital invested in Nordnet’s own branded funds.
This is part of the role
As the Director of Mutual Funds, you will make sure we’re best-in-class in the Nordic mutual fund offering whilst ensuring that Nordnet is, and continues to be, customer-friendly, and compliant.
Mutual Funds comprises some 20 employees organized into Business Development, Fund Platform and Fund Operations with a mix of seniority and ages. Together, the Mutual Funds team is responsible for both the business development of new Nordnet funds (to be manufactured by Nordnet Fonder AB) and the distribution of over 2,000+ mutual funds on Nordnet’s “open architecture” platform but also the back-office side of ensuring fund orders are sent and settled on time with high accuracy.
The Director of Mutual Funds reports to the Chief Product Officer & Deputy CEO Rasmus Järborg and the role is part of the CPO Management Team as well as team Revenue Forum, the bank’s extended leadership team. Listen to Rasmus talking about one of Nordnet’s three values: passion!
This is you
As the ultimate ambassador for the Mutual Funds business – internally and externally –you are a high-energy go-getter who can articulate your vision to both stakeholders and direct reports in an inspiring way. You are genuinely interested in the mutual funds industry and your work style can be described as organized, methodical, and communicative in a way that benefits the team’s working climate and ability to excel. You easily interact with all levels of the organization and like to take responsibility.
You have an open mindset and a can-do attitude. Getting to know the details and understanding how everything is connected and dependent on each other is of great importance to you. You’re not afraid of rolling up your sleeves and love working in a fast-paced environment. You also realize that none of this matters if the back-office operations don’t work smoothly. You are a great team player but also know to stand your ground when it really matters.
A successful candidate will have 10+ years’ experience from mutual fund industry including P&L responsibility, fund distribution, fund management (or working close with fund management) and governance. You have experience from managing teams, preferably managers. Above all you have a natural passion for savings and investments.
Key responsibilities
As Director of Mutual Funds, you will overall be responsible for forming the vision and strategy for Nordnet’s mutual fund business. This includes ascertaining the right mix of Nordnet-branded funds and third-party funds, pricing models, investment management strategies as well as how to best use Nordnet’s advisory and discretionary asset management licenses. Specially, your main tasks will include:
- Managing and growing the P&L for the Mutual Funds business that generated some SEK420m of revenues in 2023
- Ensuring our customers get access to the best investment products within mutual funds, whether they be Nordnet-branded or third-party, through ambitious product development
- Ensuring Nordnet provides customers with high quality services within asset management and investment advice
- Driving net savings to mutual fund assets and making sure mutual fund AUM and other KPIs support Nordnet’s high ambitions in this area
- Securing that income and costs are in line with business plan in order to drive profitability towards set goals
- Ensuring agreements, terms and conditions with mutual fund companies are compliant and competitive and that our asset management services are compliant and follow best practice
- Develop operational processes and optimize associated customer journeys.
About Nordnetters
We value experimentation and continuous improvement. With an impartial approach, we welcome new ideas to boost our progress. Sharing knowledge and learning from our setbacks is part of the game. We have the courage to ask questions and admit that we do not have the answer, all the time. We believe that straightforward and transparent communication build trust and inclusion.
Culture is built and cared for, each day by everyone. We’re proud of ours. Having a flat organization where anyone can talk to anyone creates a warm and friendly atmosphere worth protecting. We believe in a culture where every effort counts and where everyone is being recognized. A culture embracing our core values – passion, simplicity and transparency on all levels, no matter who you are or what you do.
What we offer
We offer you the opportunity to work in a great team within a friendly Nordic environment with a strong focus on innovation, product development and technology. We are proud of the friendly and humble environment and commit to our goals as a team.
We are 900 employees in Stockholm, Oslo, Helsinki and Copenhagen.
You can also visit us on www.nordnet.se or our corporate web www.nordnetab.com.
Also check out our award-winning app in the Apple AppStore or on Google Play.
Application
Apply today! – please note that we do only accept applications through our recruitment system, hence no email applications will be considered.
If you have questions, please contact Head of Talent Acquisition, Heidi Ershult
heidi.ershult@nordnet.se.
We want to inform you that Nordnet conducts mandatory credit and background checks, as well as drug testing as a part of our recruitment process.
We look forward to receiving your application!
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- Department
- Mutual Funds
- Role
- Director of Mutual Funds
- Locations
- Stockholm
Stockholm
Director of Mutual Funds
Nordnet redefined the financial world as the first digital bank in Europe. Now we are about to do it again and the aim is to create the next generation of bank, in the cloud.
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