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In-House Investment Manager

  • £85000 - £115000 per annum, Benefits: 15% bonus, excellent DC pension, full executive suite of benefits including market-leading travel perks

  • Ref

    V-61390

  • Contact Name |Iain Garfield

The In-House team looks after all aspects of the firm’s two final salary pension funds. Owned by the trustees, they focus completely on serving their members as they deliver industry-leading solutions to the challenges their pension funds face. Their people are experts who deliver highly professional services across investment management, benefits administration, actuarial, IT systems, legal, governance, finance and secretariat for 110,000 members and beneficiaries. They also manage over £20Bn of pension fund assets in-house, which means they are one of the very few funds in the industry providing an end to end service to its members.

Role Overview/Purpose
Following a planned change to the investment advice model, a new Investment Team will be created.  Investment advice will predominantly be provided by external investment advisors, although it is envisaged that the Investment Team will work closely with the external advisors and the in-house asset managers to commission and challenge the advice.  The Investment Team will also be involved in recommendations to the Trustees that fall outside the scope of regulated s36 investment advice. 

Role Requirements and Accountabilities

Overall Responsibility for the following Business activities:
§  Liaison with investment advisors to commission and challenge investment advice;
§  Liaison with Asset Managers on liability management including cashflow provision and manipulation, sensitivity analysis and ALM analysis;
§  Liaison with Asset Managers on investment matters including strategy, governance frameworks and practicalities of new initiatives and managing implementation of advice;
§  Monitoring and reporting on the investment performance of Asset Managers;
§  Monitoring and reporting on the implementation by Asset Managers of the Trustees’ Responsible Investment policy;
§  Co-ordination of Journey Plan reviews;
§  Assessing opportunities for and project management of bulk annuity transactions;
§  Day-to-day oversight of the pensions technology system used for reporting, risk analytics and liability tracking;
§  Trustee training and communication materials; and
§  Look to drive efficiency by taking actuarial work in-house where appropriate.
Strategic Direction and Implementation:
§  Assist Trustee with setting and implementing investment strategy through commissioning and challenging investment advice;
§  Work with other members of the team to ensure strategic direction is integrated across funding, investment, risk and other areas.
Leadership:
§  People management of several part qualified student actuaries.
Relationship Management:
§  Key point of contact for external investment advisors;
§  Key point of contact for Asset Managers;
§  Liaison as appropriate with other external advisors (e.g. actuaries, lawyers, covenant advisors etc.); and
Business/Market Knowledge:
§  Qualified actuary / CFA with at least 2 years PQE within consultancy;
§  Detailed knowledge of UK Defined Benefit pensions industry with focus on investment consulting;
§  Deep understanding of wide range of asset classes; and
§  Experience of insurance transactions.
Risk Management:
§  Experience of monitoring risk statistics for a defined benefit pension scheme (e.g. VaR); and
§  Stochastic and deterministic scenario analysis.
Internal Control:
§  Responsibility for investment governance documentation and change control process
§  Responsibility for monitoring performance of Asset Managers; and
§  Responsibility for strategic KPIs for Schemes’ strategic investment objectives.
Culture:
§  Open and approachable team player with collaborative nature; and
§  Problem solver with proactive, pragmatic approach
Board / Committee Management:
§  Responsibility for delivering papers for Investment Sub Committee; and
§  Input to Trustee training for investment related areas.

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CONTACT US 0113 274 3000