ALM Investment Manager

Royal London; City of Edinburgh; Hybrid; GBP 70,000 - 90,000; Full time

Job summary

A leading mutual life and investment company based in Edinburgh is seeking an experienced Asset Liability Management Investment Manager. This role involves leading investment execution for bulk annuities, developing ALM strategies, and ensuring effective communication with asset managers. Ideal candidates will have expertise in investments and ALM, alongside strong financial modelling skills. The company offers benefits including 28 days of leave and private medical insurance.

Benefits

28 days of annual leave plus bank holidays

Up to 14% employer pension matching

Private medical insurance

Qualifications

• Experience in investment and ALM work, preferably in insurance or asset management.
• Strong understanding of derivatives and asset-liability management for annuities.
• Proficiency in financial modelling and analysis.

Responsibilities

• Lead the investment execution of new business for bulk annuities.
• Develop strategies to manage market risks during onboarding.
• Collaborate with asset managers to develop trading strategies.

Skills

Investment expertise

ALM knowledge

Financial modelling

Communication skills

Education

FIA or FFA, CFA or equivalent

Tools

R

Python

MATLAB

VBA

Job description

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Working style: Hybrid 50% home/office based

We are seeking an experienced and highly skilled Asset Liability Management (ALM) Investment Manager to join our team based in either our Edinburgh or London office.

The annuity business is a key area of growth for Royal London. We believe that we are ideally placed to be a partner of choice for our clients and help to build financial resilience, whilst also providing an attractive return on capital, diversification, and future financial protection for existing Profit Share members and Royal London.

This role is within Royal London’s Investment Office, responsible for managing investments of our annuities and BPA business.

You will work closely with the BPA teams, leading investment execution of new business, managing onboarding, developing strategy, and supporting ongoing management of the Matching Adjustment portfolio.

This role requires technical expertise to help shape and innovate our BPA strategy and solutions.

About the role

• Support the bulk annuity teams by leading the investment execution of new business.
• Develop and recommend strategies to manage market risks during onboarding.
• Develop strategies to optimize risk-adjusted return on capital and liquidity through effective ALM.
• Collaborate with asset managers and colleagues to develop trading strategies and implement changes.
• Review trading and new investments to ensure portfolio operates within ALM and liquidity tolerances.
• Lead development and implementation of new derivatives and hedging capabilities for BPA.

About you

• Experience in investment and ALM work, Solvency II/Solvency UK for insurers, at an insurer, asset manager, or consulting firm.
• Actuary (FIA or FFA), CFA, or equivalent with knowledge of investments, derivatives, and asset-liability management for annuities.
• Proficiency in financial modelling and analysis using R, Python, MATLAB, and/or VBA.
• Strong communication skills to engage with colleagues and external partners professionally.

About Royal London

We’re the UK’s largest mutual life, pensions, and investment company, offering protection, long-term savings, and asset management products.

Our commitment is to create an inclusive, responsible, enjoyable, and fulfilling workplace, guided by our Spirit of Royal London values: Empowered, Trustworthy, Collaborate, Achieve.

We offer benefits like 28 days of annual leave plus bank holidays, up to 14% employer pension matching, and private medical insurance. See all our benefits here -

Inclusion, diversity, and belonging

We celebrate and value diverse backgrounds and cultures. Our diverse team brings skills and perspectives that are recognized and respected, regardless of background.