ALM Investment Manager

Royal London; Greater London; Hybrid; GBP 70,000 - 90,000; Full time

Job summary

A leading mutual insurance company in the UK is seeking an experienced ALM Investment Manager to join their team in London or Edinburgh. This hybrid role focuses on managing investment execution for new bulk annuity business while optimizing asset-liability management strategies. The ideal candidate will have a strong background in investment and ALM work, as well as proficiency in financial modeling. The company offers competitive benefits, including 28 days of annual leave plus bank holidays, a generous pension scheme, and more.

Benefits

28 days annual leave plus bank holidays

Up to 14% employer matching pension scheme

Private medical insurance

Qualifications

• Experience in investment and ALM work for insurers, asset managers, or consulting.
• Understanding of investments, derivatives, and asset-liability management for annuity business.
• Ability to develop, test, and use models for ALM and optimization.

Responsibilities

• Lead the investment execution of new business for bulk annuities.
• Develop strategies to manage market risks when onboarding new business.
• Optimize risk-adjusted return on capital through asset-liability management.

Skills

Investment and ALM expertise

Proficiency in financial modelling

Stakeholder management skills

Communication skills

Education

Actuary qualification (FIA or FFA) or CFA

Tools

R

Python

Matlab

VBA

Job description

Job Title: ALM Investment Manager

Contract Type: Permanent

Location: Edinburgh or London

Working style: Hybrid 50% home/ office based

Closing date: 27th May 2024

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 newly created role is within Royal London’s Investment Office as part of the team responsible for the investment management of our annuities and BPA business.

You will work closely with the Bulk Purchase Annuity (BPA) teams and lead the investment execution of new business, managing the onboarding process, developing strategy, and supporting the ongoing management of the Matching Adjustment portfolio.

This role recognises the technical expertise needed within the Investment Office to help shape and innovate our BPA strategy and solutions.

About the role

• Support the bulk annuity teams, leading the investment execution of new business.
• Develop and recommend strategies to manage the market risks when onboarding new business.
• Develop strategies to further optimise our risk‑adjusted return on capital and liquidity through effective asset‑liability management (ALM).
• Work with our asset managers and colleagues to develop effective trading strategies and implement changes.
• Reviewing trading and new investments to ensure it the portfolio operates within our ALM and liquidity tolerances.
• Lead the development and implementation of new derivative and hedging capabilities to support our BPA business.

About you

• Experience in investment and ALM work, Solvency II/Solvency UK work for insurers, either at an insurer, asset manager or in consulting.
• Actuary (i.e., FIA or FFA), CFA holder or equivalent with understanding of investments, derivatives, and asset‑liability management for annuity business.
• Proficiency in financial modelling and analysis using in R, python, matlab and/or VBA. Ability to develop, test and use models for ALM and optimisation purposes.
• Excellent stakeholder management skills.
• Ability to communicate in a professional manner with colleagues across the wider business and externally.

About Royal London

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

Our to our colleagues is that we will all work somewhere inclusive, responsible, enjoyable and fulfilling. This is underpinned by our Spirit of Royal London values; Empowered, Trustworthy, Collaborate, Achieve.

We've always been proud to reward employees by offering great workplace benefits such as 28 days annual leave in addition to bank holidays, an up to 14% employer matching pension scheme and private medical insurance. You can see all our benefits here -

Inclusion, diversity and belonging

We’re an employer. We celebrate and value different backgrounds and cultures across Royal London. Our diverse people and perspectives give us a range of skills which are recognised and respected – whatever their background.