Portfolio Manager

Pension Corporation; London; On-site; GBP 60,000 - 90,000; Full time

Job summary

Pension Insurance Corporation seeks a Portfolio Manager for its Markets Solutions team. This role involves overseeing liquidity strategy and portfolio management, collaborating with various departments, and producing innovative insurance solutions. Ideal candidates will possess a CFA qualification and extensive experience in managing pension-related investments.

Benefits

Private medical insurance

28 days' annual leave

Generous pension scheme

Performance-related bonus plan

Qualifications

• Experience in modelling risk exposures associated with pension liabilities.
• Experience in implementing hedging strategies for pension funds.
• Front office experience in investment teams focusing on pension liabilities.

Responsibilities

• Responsible for the Liquidity Strategy in both the MA and Non-MA fund.
• Produce new insurance solutions to support existing investment.
• Collaborates with ALM, Finance, and Risk on new investments.

Skills

Organisational skills

Communication skills

Commercial judgement

Data analysis

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.

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.

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.