Investment Manager TAA and Sovereigns (m|f|x) London

Legal & General (L&G) is a leading UK financial services group and major global investor. 

We’ve been safeguarding people’s financial futures since 1836, and strive to build a better society, while improving the lives of our customers and creating value for shareholders. 

We are one of the world’s largest asset managers and provide powerful asset origination capabilities. Together, these underpin our retirement and protection solutions: we are an international player in pension risk transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. 

L&G Institutional Retirement looks after around 700,000 institutional customers who have their retirement benefits secured with us. Operating continuously in the UK market from our entrance in 1987, we are the UK’s longest-running insurer. 

Our Institutional Retirement business is the UK’s longest-serving active bulk annuity provider.

Institutional Retirement is the only insurer to have been operating continuously in the UK market from our entrance in 1987 to the present day. Our UK retirement annuity book stands at an estimated £86.1 billion at 31 December 2023. 

Across our retail and institutional retirement businesses, we look after more than 1 million customers, around c.700,000 of whom are institutional customers who have had their retirement benefits secured with us. 

Tasks

• Leading oversight of the sovereigns mandate, defining risk appetites and objectives, assessing performance and driving initiatives to enhance the investment framework, processes, opportunity set and portfolio diversification
• Contributing to the development of Tactical Asset Allocation, cross‑asset trading activities and associated portfolio management opportunities, assessing relative value across asset classes and proposing optimisation opportunities
• Monitoring exposures within sovereign portfolios and providing challenge and guidance to portfolio managers based on risk appetites, market developments, portfolio changes, trade execution and liquidity considerations
• Creating and maintaining key risk and performance metrics and tools to assess the sovereigns portfolio
• Building relationships and collaborating with key stakeholders, including Institutional Retirement Investments ALM teams and Asset Management as investment managers for sovereign exposures and related derivatives
• Drafting and presenting governance papers and engaging with stakeholders across the group to support sovereigns portfolio management and TAA activities
• Collaborating with ALM, Asset Management, Investment Operations, Investment Strategy and Finance to improve portfolio analytics and availability of timely MI to support portfolio management and tactical optimisation
• Operating within mandates and risk limits and embedding Conduct Risk and Consumer Duty principles to ensure strong customer outcomes

Profile / Your qualification / Your personality

• Strong quantitative skills demonstrated through a quantitative degree, postgraduate qualification or equivalent experience (CFA or equivalent preferred)
• Deep understanding of sovereign bonds, interest rate derivatives and risk analysis, ideally within an insurance ALM environment
• Knowledge of insurance balance sheet management, regulatory frameworks and capital and profit reporting regimes (desirable)
• Experience managing or overseeing sovereign bond investments and interest rate derivatives, with a track record of contributing to asset allocation or portfolio management decisions
• Familiarity with portfolio analysis, portfolio management and asset allocation concepts
• Experience working within an insurance or liability‑driven investment context and exposure to governance and risk management processes
• Strong communication and stakeholder‑management skills with the ability to collaborate effectively across teams
• A leadership mindset demonstrated through mentoring, knowledge sharing and supporting collaborative team development

That awaits you

• The opportunity to participate in our annual, performance -related bonus plan and valuable share schemes
• Generous pension contribution
• Life assurance
• Healthcare Plan (permanent employees only)
• At least 25 days holiday, plus public holidays, 26 days after 2 years’ service. There’s also the option to buy and sell holiday
• Competitive family leave
• Participate in our electric car scheme, which offers employees the option to hire a brand-new electric car through tax efficient salary sacrifice (permanent employees only)
• There are the many discounts we offer – both for our own products and at a range of high street stores and online
• We’re creating net‑zero carbon workplaces by 2030 by investing in our sustainable, modern offices across the UK, all designed to bring people together and elevate the in‑person experience

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Location

1 Coleman Street, GB-EC2R 5AA London