Head of Portfolio Management

Conception X Enr.; London; Hybrid; GBP 80,000 - 120,000; Full time

Job summary

A leading company in reinsurance solutions is seeking a Head of Portfolio Management to oversee investment strategies and manage relationships with investment managers. The role requires expertise in liability-driven investment and offers competitive benefits and opportunities for growth.

Benefits

Competitive Salary

Pension

Bonus

Private Medical Insurance

Life Assurance

Qualifications

• Experience in life reinsurance or investment management, focusing on liability-driven credit investing.
• Knowledge of collateralized reinsurance and related investment solutions.

Responsibilities

• Develop and execute liability-driven investment strategies supporting reinsurance acquisitions.
• Collaborate with investment managers on transaction execution and risk analysis.

Skills

Organizational Skills

Problem Solving

Communication

Quantitative Skills

Education

CFA Qualification

Relevant Degree

Tools

Interest Rate Derivatives

Bonds

Repo Markets

SPV Structures

Job description

Closing Date: 26th May.

Location: London

Canada Life Reinsurance ("CL Re") is a division of Great-West Lifeco Inc. ("Lifeco") and a leading provider of client-focused reinsurance solutions in the US, Europe, and APAC. CL Re offers innovative risk and capital management solutions across investment, mortality, longevity, lapse risk, and asset-intensive reinsurance. The Asset Intensive Reinsurance business is a key growth area, with significant transactions in the UK and Japan.

The CL Re Investment Office, part of Lifeco Global Investment, manages assets of C$15bn and plans to grow further. The role involves implementing and managing investment strategies for asset-intensive reinsurance transactions, coordinating with various stakeholders including Finance, Actuarial, Risk, and external investment managers.

About The Opportunity

The Head of Portfolio Management reports to the Chief Investment Officer of Canada Life Reinsurance. The role focuses on building investment management processes, performance monitoring, and portfolio management to meet ALM and SAA targets. It involves managing relationships with internal and external investment managers, executing investment strategies, and overseeing asset portfolios.

The role includes driving Tactical Asset Allocation, gaining exposure to reinsurance balance sheet investments, and supporting risk management, performance analysis, reporting, and infrastructure development. The position may be hybrid, ideally based in London.

What You'll Do

1. Develop and execute liability-driven investment strategies supporting reinsurance acquisitions.
2. Propose asset and hedging strategies to optimize capital return within regulatory and risk constraints.
3. Support new business pricing with asset and credit assumptions.
4. Collaborate with investment managers on transaction execution, risk analysis, and portfolio transformation.
5. Negotiate investment guidelines and treaty terms to manage asset risk and target returns.
6. Implement transactions, manage initial portfolios, and deploy assets according to strategic asset allocation.
7. Coordinate with derivatives and market risk teams for pricing and liquidity management.
8. Monitor investment mandates and assess performance.
9. Support asset growth in global annuity and life reinsurance markets over 3-5 years.

What You'll Bring To The Role

1. Experience in life reinsurance, PRT insurance, or investment management, focusing on liability-driven credit investing.
2. Knowledge of collateralized reinsurance and related investment solutions.
3. Expertise in interest rate derivatives, bonds, repo markets, and liability-driven investment.
4. Experience with structuring interest rate and credit solutions, forward bonds, repo, cross-currency hedging, SPV, and fund structures.
5. Quantitative skills supporting ALM and pricing models.
6. Strong organizational, problem-solving, and communication skills.
7. CFA qualification and/or relevant degree with extensive experience.
8. Ability to collaborate across teams and drive operational excellence.

Benefits Of Working At Canada Life

Competitive salary, comprehensive benefits including pension, bonus, income protection, private medical insurance, and life assurance. Opportunities for personal and professional development.

How We Work At Canada Life

Our culture emphasizes doing the right thing, curiosity, ownership, teamwork, and continuous improvement. We invest in our people, technology, and workplaces, offering flexible working and growth opportunities.

Diversity and Inclusion

We are committed to building an inclusive workplace that values diversity. We support flexible arrangements to accommodate different needs, fostering an environment where everyone can thrive.