How helpful are your support / back office teams?
Our support teams (compliance, risk, finance, legal, ESG, etc) essentially operate as delegators on all work and never really produce much or relieve much workload. They come to the deal teams to run all deliverables - KYC, entity set up, bank accounts, constant ad hoc reporting, creating risk policies for portfolio companies, etc. They general run the show to the point where if there is a deal deadline, a support team wanting last minute analyses cause missed deadlines. Is this the norm or do your deal teams generally have the ability to offload work to support teams and pushback on unreasonable asks?
Just as helpful as yours it seems. Investor Relations continuously asking for revised case studies as they are meeting a new LP, ESG team chasing why we have not yet provided scope 3 emissions and so on. I get that they are not as close to the portcos as actual deal team members, but the sheer lack of even trying to understand is painful
As a support team junior, we often aren't allowed use common sense and have to get deal team approval for everything. Even if I try to work through something myself, once I present it to a manger I just get "dunno, ask x from y company to confirm". So I'm fully aware of pinging this dude for EVERYTHING but can't do anything about it.
Edit: In defense of managers, juniors on support teams can be very dumb so it's hard to trust them, and the managers themselves have no incentive to learn anything that won't help them get promoted. So we end up in a position where asking the deal team makes the most sense.
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