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Investment Operations Manager

Employer
LGPS Central Limited
Location
Wolverhampton, United Kingdom
Salary
Competitive, plus an enhanced and generous Pension Scheme
Closing date
May 25, 2022

View more

Job Function
Operations
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
LGPS Central Limited is an FCA regulated fund management company, owned by and managing the pooled assets of eight Midlands-based local government pension funds.

Since its launch in April 2018, LGPS Central Limited has become responsible for around half of our Partner Funds' £45bn of assets. The volume of assets under management is expected to grow rapidly over the next few years, particularly in the private markets area, as new pooled funds are developed and launched. A range of fund launches is planned for this financial year across numerous asset classes.

The aim of LGPS Central Limited is to use the combined buying power of its Partner Funds to reduce costs, improve investment returns and widen the range of available asset classes for investment. We are committed to fully integrating Responsible Investment and Engagement into all our investment processes and investments.

The management of Local Government Pension Scheme funds is going through significant change, providing attractive opportunities for those who have the relevant investment experience and who want to work within a company which values integrity, trust, transparency, diversity, fairness and partnership. LGPS Central Limited aims to be a centre of excellence and we seek candidates who share our values to help us achieve that goal.

Role

LGPS Central Limited has been established to consolidate and manage the pension fund assets of eight Midlands-based local government pension funds.

We are looking for an experienced Investment Operations Manager to join our Investment Operations team. Based in Wolverhampton, the successful candidate will work as part of the Operations team to contribute towards delivering a high-performing Operational support to the firm's investment activities in an exciting environment. The successful candidate will report to the Head of Operations.

The Investment Operations team plays a critical role in the delivery of Middle and Back Office and Operational support to the firm's Investment Managers, both as part of BAU and delivery of new business and strategic objectives for the wider firm and its' clients.

As part of the Investment Operations team the role will play a key part in ensuring an effective and efficient Operational support. The appointee will oversee key investment support processes and delivery of excellent service to internal and external stakeholders and clients. The role supports the execution of operational services as well as outsourced activities and suppliers and covers all aspects of Middle and Back office activities for LGPS Central Limited.

If you are interested in applying for this position, please send your CV with a covering letter,

demonstrating why you have the skills to perform this role, to recruitment@lgpscentral.co.uk

Role

The experienced Investment Operations Manager will work with the Head of Operations and Chief Operating and Financial Officer (COFO).

As part of the Investment Operations team the Investment Operations Manager will have responsibility to ensure effective and efficient support of all Operational activities. This senior position will oversee key investment support processes and delivery of excellent service to internal and external stakeholders and clients. The role supports the execution of operational services as well as oversight of outsourced activities and suppliers and covers all Middle and Back Office activities for LGPS Central Limited.

The Investment Operations Manager is expected to participate in carrying out third party oversight for LGPS Central.

The role holder will be required to oversee the activities of the delegated functions including outsourced Fund Administration and Investment Management. The role requires multiple competencies, relationship building skills, third party oversight, risk management and service improvement.

Outcomes:
  • Assist the Head of Operations in meeting operational targets of assets managed by LGPS Central Limited.
  • Authorise and review work entered into systems used.
  • Ensure all daily/weekly tasks are carried out as per internal policies and procedures, ensure that relevant compliance or regulatory requirements are met, and that evidence of completion is retained.
  • Play a significant role in oversight of external outsourced vendors, Custodian, Fund Accountant, Transfer Agent and Outsourced Middle Office. Participate in calls, service reviews, provide feedback as required.
  • Participate in new fund and product launches, input into design of operational framework and controls.
  • Comfortable working on multiple tasks with short and longer-term deadlines.
  • Introduction of robust controls and sign offs to reduce operational risk within the department.
  • Responsible for the preparation and maintenance of the departments procedures keeping them current incorporating any system service or product changes.
  • Dealing with queries from all levels of the organisation ensuring a rapid response and resolution and effective escalation as and when required.
  • Keeping the number of exceptions to minimum and keep Senior Managers informed of any ongoing issues.
  • Drive a service quality mindset across the operating model and to recommend operating model improvements as required strategy and objectives.

Skills/Knowledge/Experience/Competence:
  • Substantial Middle and Back Office experience. Asset classes supported in the team include Equities, Fixed Income, OTD & ETD Derivatives, Private Equity/Debt and Property, knowledge of some of these is essential.
  • Good understanding of Transfer Agency, Fund Accounting, Custody and Depositary functions.
  • Exercise own good judgement, escalates as appropriate.
  • Challenge conventions constructively.
  • Excellent knowledge of several asset classes and pension fund administration.
  • Maintain own professional development.
  • First line point of escalation.
  • Some supervisory experience.
  • Comfortable communicating at all levels.
  • Able to prioritise based on risk and potential impact.
  • Third Party vendor management experience is required.
  • A well-developed understanding of the asset management industry, funds, products and outsourced investment administration.
  • Able to operate in thinking strategically and tactically
  • Strong Organisational process driven, with high levels prioritisation, accuracy and attention to detail.
  • Excellent interpersonal, influencing and communicating skills.

Values:
  • We put our clients first.
  • We are Inclusive
  • We are Ambitious
  • We are a great place to work.

Values:
  • We put our clients first.
  • We are Inclusive
  • We are Ambitious
  • We are a great place to work.

Behaviours:
  • Open, fair and transparent, acting with integrity.
  • Doing the right thing.
  • Honest and trustworthy
  • Empowered in making right decisions
  • Collegiate and Collaborative.
  • Valuing and treating everyone equally.
  • Listening to individual ideas to support growth.
  • Constructively challenging the status quo. Accountability for results and delivery

Service Provider Oversight:
  • Drive regular service review meetings with outsourced service providers.
  • Develop good working relationship with external providers.
  • Monitor outsourced service providers and their performance against agreed SLA's.
  • Escalation point for investigation and resolution of persistent operational issues and incidents across the operating model, including preventative root cause analysis. Proactively analyse trends in errors and issues to identify opportunities for process improvement.

Reporting:
  • Creation of reports /management information for senior management and internal committees.
  • Coordinate the production and review of reports/metrics from third parties.
  • Oversee creation of monthly/quarterly Fund Performance Reporting documents.
  • Delegated Authority Levels:
  • Deputise in absence of Head of Operations

Reports to:
  • Head of Investment Operations

Relationships Internal:
  • Operations team DR's
  • Senior Management Team
  • Investments Team

Qualifications:
  • IOC or equivalent
  • Degree level

Values and Behaviours:

Values:
  • We are a great place to work
  • We are Client Focus ed
  • We are Inclusive
  • We are Ambitious

Behaviours:
  • Open, fair and transparent, acting with integrity.
  • Doing the right thing.
  • Honest and trustworthy
  • Empowered in making right decisions
  • Collegiate and Collaborative.
  • Valuing and treating everyone equally.
  • Listening to individual ideas to support growth.

What do we offer?

We are proud to provide our people with a premium and exclusive benefits package and we are continually improving the rewards we offer. Here are a few of the valuable rewards that you will enjoy:
  • Competitive salary plus bonus
  • 30 days' paid holiday plus bank holidays
  • An extra paid Company Day in addition to paid holidays
  • Excellent Learning & Development Opportunities
  • Welfare and Family-friendly policies
  • An enhanced and generous Pension Scheme
  • Enhanced pay for new parents
  • Access to our Employee Assistance Programme- 24-7 Health & Wellbeing Support
  • Hybrid Working
  • Brand New Office Space

LGPS Central Limited provides an exciting, supportive and family-friendly working environment, and we are committed to helping our people achieve their full potential and a healthy work-life balance. We are an inclusive employer and offer equal opportunities to all regardless of an individual's age, disability, gender identity, marriage or civil partnership status, pregnancy or maternity, race, religion or belief, sex and sexual orientation. Candidates who declare that they have a disability and who meet the essential criteria for the job will be offered an interview.

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