Associate Director, Portfolio Construction & Risk

Fidelity International; Greater London; On-site; GBP 120,000 - 180,000; Full time

Job summary

Fidelity International is seeking an Associate Director in London to lead portfolio construction and investment risk coverage within the Multi-Asset franchise. You will work closely with European portfolio managers, the Multi-Asset CIO and global PCR colleagues to drive independent challenge and practical recommendations.

In this senior role you will contribute to governance, analytics development and key initiatives across asset allocation, risk budgeting and portfolio risk management, while

Qualifications

• 7–10 years of experience in portfolio construction or investment risk.
• Strong knowledge of Multi-Asset investing and asset classes.
• Experience with portfolio analytics platforms such as BarraOne and RiskMetrics.
• Excellent client-facing and presentation skills.
• Ability to communicate complex topics clearly to senior stakeholders.

Responsibilities

• Provide portfolio construction and investment risk coverage for European-based Multi-Asset Portfolio Managers, offering independent challenge and practical recommendations.
• Lead key Multi-Asset initiatives across portfolio construction, analytics and investment processes.
• Lead Quarterly Fund Reviews and contribute to weekly CIO and other investment governance discussions.
• Analyse portfolio positioning and risk, including factor exposures, scenario analysis and stress testing.
• Work closely with PCR colleagues globally to ensure a consistent approach and share best practice.
• Present portfolio construction and risk insights clearly to clients, consultants and senior internal stakeholders.
• Partner with investment, product, distribution, data and technology teams on strategic and client-led priorities.
• Support the development of the wider PCR team through knowledge sharing and coaching of junior colleagues.

Skills

Portfolio construction

Risk management

Analytical thinking

Client-facing

Presentation skills

Cross-functional collaboration

Project leadership

Education

Bachelor's in Finance/Economics/Mathematics

CFA/FRM (beneficial)

Tools

BarraOne

RiskMetrics

PORT

Job description

About the Opportunity

Job Type: Permanent

Application Deadline: 23 October 2026

Title

Associate Director, Portfolio Construction & Risk

Multi-Asset, Fixed Income and Real Estate Level Associate Director (Level 7)

Location

UK (London)

Reports To

Global Head of Portfolio Construction & Risk

About the Company

We’re proud to have been helping our clients build better financial futures for over 50 years. By working together - and supporting each other - all over the world. So, join our team and feel like you’re part of something bigger. Our clients come from all walks of life and so do we. We are proud of our inclusive culture and encourage applications from the widest mix of talent, whatever your age, gender, ethnicity, sexual orientation, gender identity, social background and more. As a flexible employer, we trust our people to perform their role in the way that works best for them, our clients and our business. We are a disability-friendly company and would welcome a conversation with you if you feel you might benefit from any reasonable adjustments to perform to the best of your ability during the recruitment process and beyond.

About your team

The Portfolio Construction & Risk team provides first-line investment risk oversight and portfolio construction support across Multi-Asset, Fixed Income and Real Estate. The team works closely with Portfolio Managers and CIOs, providing independent challenge, portfolio insight and analytical support to help ensure risks are well understood and portfolios remain aligned with their investment objectives. The team also plays an important role in investment governance, including Quarterly Fund Reviews, CIO discussions and other portfolio oversight processes.

About your role

This is a senior role within the Portfolio Construction & Risk team, with a primary focus on Multi-Asset. You will provide portfolio construction and investment risk coverage for European-based Multi-Asset Portfolio Managers, while working closely with colleagues globally. You will act as a senior partner to Portfolio Managers and the Multi-Asset CIO, providing independent challenge, portfolio insight and practical recommendations. You will also take ownership of key initiatives across the Multi-Asset franchise, contribute to the development of portfolio construction and risk capabilities, and play an important role in the governance of the platform. The role includes regular interaction with clients and senior stakeholders and requires the ability to communicate complex portfolio construction and risk topics clearly and credibly.

Key responsibilities

• Provide portfolio construction and investment risk coverage for European-based Multi-Asset Portfolio Managers, offering independent challenge and practical recommendations.
• Lead key Multi-Asset initiatives across portfolio construction, analytics and investment processes.
• Lead Quarterly Fund Reviews and contribute to weekly CIO and other investment governance discussions.
• Analyse portfolio positioning and risk, including factor exposures, scenario analysis and stress testing.
• Work closely with PCR colleagues globally to ensure a consistent approach and share best practice.
• Present portfolio construction and risk insights clearly to clients, consultants and senior internal stakeholders.
• Partner with investment, product, distribution, data and technology teams on strategic and client-led priorities.
• Support the development of the wider PCR team through knowledge sharing and coaching of junior colleagues.

About you

• 7–10 years of relevant experience within portfolio construction, investment risk, Multi-Asset investing or a related area within asset management or an institutional investment environment.
• Strong practical experience of Multi-Asset portfolio construction, including asset allocation, risk budgeting and portfolio risk management, with a broad understanding of the key asset classes used in Multi-Asset portfolios.
• Experience working directly with Portfolio Managers and senior investment professionals, with the judgement and credibility to provide constructive independent challenge.
• Familiarity with investment risk and portfolio analytics platforms such as BarraOne, RiskMetrics, PORT or comparable systems.
• Strong client-facing and presentation skills, with the ability to communicate investment and risk concepts clearly to a range of audiences.
• Experience contributing to portfolio review and investment governance processes.
• Strong organisational discipline, with the ability to coordinate multiple priorities, capture clear actions and accountability, and ensure timely follow-through on key decisions and commitments.
• Comfortable working across regions and collaborating with a broad range of investment and business stakeholders.
• Proactive and solutions-oriented, with the ability to take ownership and drive initiatives through to completion.
• Degree in Finance, Economics, Mathematics or another relevant discipline.
• A professional qualification such as CFA, FRM or equivalent would be beneficial.

Why join this role?

This is an opportunity to take a senior role within Multi-Asset, working closely with Portfolio Managers, the Multi-Asset CIO and senior investment leadership. The role offers the opportunity to influence portfolio construction, lead key initiatives and contribute to the continued development of the Multi-Asset platform.