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Pensions Covenant Advisers - Managers and Associate Directors

  • Location

    Birmingham

  • Sector:

    Pensions and Benefits

  • Job type:

    Permanent

  • Salary:

    £55000 - £115000 per annum

  • Contact:

    Iain Garfield

  • Contact email:

    iain.garfield@bwd-search.co.uk

  • Contact phone:

    0113 274 3000

  • Job ref:

    IGCOV7

  • Published:

    5 months ago

  • Duration:

    n/a

  • Expiry date:

    2019-06-26

  • Startdate:

    2019-05-29

  • Consultant:

    #

The Pensions Covenant and Advisory market is currently undergoing a sustained period of growth, with more and more sponsors and trustee boards taking the decision to bring in significant expertise in this sector.  High profile pensions failures following liquidation has turned a spotlight on this area, and it's importance is growing.

Our client is a global consultancy whose covenant advisory team is growing exponentially as a result of far greater focus from the Pensions Regulator, and high profile sponsor collapses e.g. BHS and Carillion.  

The Role

Financial
• Business reviews to assess the strength and risks of the Sponsor covenant 
• Analysing financial forecasts and Sponsor affordability 
• Assessing the position of competing stakeholders including a review of debt structures
• Considering the outcome to creditors, including the scheme, in a distressed scenario
• Reviewing transactions and corporate restructuring to assess their impact on the Sponsor
• Identifying alternatives to cash funding

People
• Assisting with project strategy
• Support the Senior Consultants within the covenant team

Clients
• Advise pension trustees and corporates on issues relating to employer covenant
• Preparing reports for trustees and corporates
• Responding to client queries
• Leading on smaller clients and simple queries
• Supporting on larger clients and complex queries
• Supporting strategies for growth of the covenant offering

This is a huge growth sector within the pensions market, with a number of the larger consultancies setting up teams, as well as a number of boutique firms making the most of the likely requirement of all schemes to carry out full independent covenant reviews, even for those whose sponsors are not in financial distress.