Portfolio Manager

Pension Insurance Corporation plc; London; On-site; GBP 70,000 - 100,000; Full time

Job summary

A leading company in the pension finance sector is seeking a Portfolio Manager to join their Markets Solutions team. The successful candidate will be responsible for managing liquidity strategies, structuring investment solutions for pension risk transfer, and collaborating with the Risk and Finance departments. This position offers a competitive salary and benefits package, including private medical insurance and generous annual leave.

Benefits

Private medical insurance

28 days' annual leave

Generous pension scheme

Qualifications

• Experience in modeling risk exposures for pension liabilities.
• Experience in producing liquidity solutions for insurance companies.
• Front office experience in investment teams focusing on pension liabilities.

Responsibilities

• Responsible for the Liquidity Strategy in both the MA fund and the Non-MA fund.
• Collaborates with various departments for positive business outcomes.
• Structuring and modeling fixed income and derivatives portfolios.

Skills

Organisational skills

Communication skills

Commercial judgement

Problem-solving skills

Ability to influence

Education

CFA or similar professional qualification

Tools

MS Access

MS PowerPoint

MS Word

Bloomberg

Job description

Pension Insurance Corporation ("PIC") provides secure retirement incomes through comprehensive risk management and excellence in asset and liability management, as well as exceptional customer service. Our purpose is to pay the pensions of our current and future policyholders. We achieve our purpose by setting Company-wide strategic objectives and driving a healthy culture based on our PIC Values of Resilient, Adaptable, and Loyal.

PIC is recruiting for a Portfolio Manager to join its Markets Solutions team, which is responsible for the derivatives portfolio (including interest rate, inflation, FX & cross currency basis), investment in government bonds and liquidity cash-like portion of PIC's portfolio to support the growth of new Pension Risk Transfer (PRT) transactions as well as to generate value from the existing portfolio.

In this role, you will effectively collaborate with Risk, Finance and the wider Investments department to secure their buy-in and implement improvements to systems, processes, and technology, as appropriate. You will apply your knowledge and insights concerning liquidity and derivatives and how this impacts our policyholders.

Specific accountabilities assigned to the role of Portfolio Manager within the Markets Solutions Team:

• Responsible for the Liquidity Strategy in both the MA fund and the Non-MA fund
• Maximise the use of PIC's Liquidity given Solvency position as well as generating returns in line with the Business Plan
• Produce new insurance solutions that supports value generation for the existing investment portfolio as well as support the growth of new PRT business
• Responsible for structuring and modelling fixed income and derivatives portfolios
• Effectively collaborates with ALM, Debt Origination Finance and Risk on new investments to achieve positive, informed business outcomes
• Takes ownership for their own learning and development in both technical (e.g. data analysis and critical judgement) and non-technical (self-insight and relationship management) skills within the Markets Solutions Team
• Responsible for regulatory engagement on behalf of the Markets Solutions team as well as internal stakeholders, committees and the Board
  
  
  

Requirements

Experience:

• CFA or similar professional qualification
• Experience in modelling risk exposures associated with pension liabilities
• Experience of implementing hedging strategies for pension funds or insurance companies
• Experience in producing investment and liquidity solutions for life insurance companies
• Front office experience of working in an investment team of a pension fund, insurance company, investment back or a consultancy with a focus on pension liabilities
  
  
  

Knowledge:

• Good understanding of the Pension Risk Transfer (PRT) market trends, and transaction structures
• Demonstratable knowledge of hedging instruments and derivatives typically used to manage risk for life insurance companies
• Good understanding of liquidity management in a financial institution
• Basic understanding of Matching Adjustment and Solvency UK
• Asset allocation knowledge is a plus but not essential
  
  
  

Skills:

• Strong organisational skills and communication skills
• Ability to organize work to meet deadlines
• Commercial judgement
• Good working knowledge of MS Access, MS PowerPoint, MS Word and Bloomberg
• Ability to persuade and influence both directly and indirectly
  
  
  

Desirable personal attributes aligned to what success looks like in the role:

• Intellectually curious with a willingness to learn through own research
• Strong problem-solving skills utilising consultative questioning to challenge current norms and drive change within the business function
• Effective communicator - structures insights into clear messages and effectively engages others within business function, as well as internal stakeholders, professional and regulatory bodies.
• Innovative thinker - positive attitude to change and a willingness to embrace new ideas and techniques to improve performance
  
  
  

Benefits

In addition to a competitive base salary and the opportunity to participate in our annual, performance-related bonus plan, upon joining us here at Pension Insurance Corporation, you will get access to some great benefits, including private medical insurance, 28 days' annual leave (excluding bank holidays), a generous pension scheme and much more.