ALM Investment Manager

Royal London; London; Hybrid; GBP 75,000 - 95,000; Full time

Job summary

A prominent role within Royal London's Investment Office, seeking an experienced Asset Liability Management (ALM) Investment Manager. This position focuses on managing investments specifically for the Bulk Purchase Annuity (BPA) business, requiring expertise in ALM, financial modelling, and strong communication skills. Exceptional workplace benefits include 28 days of leave, a generous pension scheme, and a commitment to diversity, ensuring an inclusive working environment.

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, especially Solvency II/Solvency UK.
• Proficiency in financial modelling and analysis using R, Python, MATLAB and/or VBA.
• Strong communication skills with ability to collaborate with different teams.

Responsibilities

• Lead investment execution of new business, developing strategies for onboarding.
• Implement new derivative and hedging capabilities to support BPA business.
• Review trading and new investments to ensure compliance within ALM tolerances.

Skills

Investment Management

Asset-Liability Management (ALM)

Financial Modelling

Risk Management

Education

Actuary (FIA or FFA)

Chartered Financial Analyst (CFA)

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 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.
• Review trading and new investments to ensure 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 R, Python, MATLAB, and/or VBA. Ability to develop, test, and use models for ALM and optimisation purposes.
• Ability to communicate professionally 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 commitment 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 of 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 that celebrates and values different backgrounds and cultures across Royal London. Our diverse people and perspectives give us a range of skills that are recognized and respected – whatever their background.