Corporate to Private Equity transition - Autonomy to define KPIs and job description. Is This Typical?

I have recently accepted a role with a Private Equity firm to lead the data science and analytics function for a newly acquired portfolio company. The established business is currently performing well, and the overarching objective is to enhance profitability through more sophisticated analytics and operational insight - which doesn't currently exist. I will be reporting directly to the board (the PE owners) until there is a newly appointed CEO.

Coming from a corporate environment, the onboarding structure is markedly different. Specifically:

• No predetermined KPIs or value creation targets
• No formal job description beyond “build and lead analytics function”
• Compensation dependant on discussion of role scope
• Full autonomy to design the function, reporting lines, and analytical roadmap

The expectation communicated was essentially: “Set the agenda, define how value will be created, and execute against it.”

I would appreciate insights from anyone who has made a similar transition from corporate into PE or anyone currently in PE:

• Is this level of ambiguity typical in PE-backed environments?
• What is the usual pace of delivery expected in the first few months?
• What challenges should I anticipate when reporting to PE partners versus internal leadership?

I am excited about the autonomy, but conscious that I need to lead in setting expectations and ensure clarity as the planned strategy begins to be executed especially directly to the shareholders.

Any practical advice or lessons learned would be amazing!