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Investment Manager - Risk Sharing

Legal & General
London, United Kingdom
Closing date
Mar 28, 2024

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Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Company Description

Securing pensions over the long term can be a challenge for many businesses. Our ambition at Legal & General Retirement Institutional (LGRI) is to help companies and pension scheme trustees honour their defined benefit pension promises to their employees. We're helping companies settle their pension liabilities so they can focus on growing their businesses, as well as helping to support their members' financial security in retirement. And we're investing for the long term to back our pension promises. In the last 30 years we've written more UK business than any other insurer, and we currently look after more than half a million pension policyholders. We're the UK's longest-serving active bulk annuity provider, and a market-leading, multi-award winning business.

Job Description

We're currently looking to hire an Investment Manager - Risk Sharing to join Legal and General Retirement Institutional (LGRI) Investments.

You'll support the risk and balance sheet management as well as expansion of the investible universe of assets for LGR in mortgages, residential properties and middle market loans through development and execution of risk sharing solutions with third parties, internal balance sheets and reinsurance that allow LGR to take on the risks it finds attractive and has balance sheet capacity for and place other risks
  • Expand mortgage, housing, and middle market investment opportunities by placing selective risks with third parties, reinsurance or on global balance sheets in collaboration with relevant teams across LGRI, LGC, and LGIM
  • Evaluate/progress placement of mezzanine or junior positions with third parties.
  • Acquire portfolios, e.g. with banks on MM portfolios, whereby L&G securitises and retains some/all senior/mezz note and syndicates remainder externally
  • Build financial models to support evaluation of risk sharing opportunities, including securitisation/cash flow models, considering risk and return metrics, capital and regulatory requirements,
  • Design solutions (e.g. securitisations) that allow L&G to distribute risks it does not have appetite or capacity for in order to enhance the risk profile and investment performance of the LGR portfolio on the assets it retains in collaboration with LGIM, LGC, & LGRI teams
  • Draft and present governance papers; engage with key stakeholder across the L&G group in order to garner support for new risk sharing initiatives
  • Drive the development of internal rating models for new risk sharing solutions alongside the LGIM Credit Rating team and LGR 2nd line by compiling industry, market and asset level data and financial information to support the model build
  • Collaborate with the Risk, Operations, Finance and Legal teams to ensure end to end implementation of new and existing risk sharing initiatives, including the implementation of relevant models, transaction management, oversight and documentation
  • Build relationships with key stakeholders across LGR Investments, LGC, LGIM, Treasury, LGR Finance, Risk, RS&A and external asset managers (where applicable) in the delivery of those services to ensure appropriate communication and consistency of approaches between key stakeholders
  • Ensure key stakeholders are provided with all relevant information (Management Information) on the risk sharing solutions to better inform discussions and decisions on investment strategies as well as new asset classes being considered for the LGR portfolio
  • Be aware of our company values, including treating customers fairly, and to demonstrate the behaviours that support these values
  • To succeed in this role you'll be familiar with valuation or pricing of Fixed Income products such as Interest Rate Swaps, Bonds, Credit Derivatives
  • Experience in a Fixed Income product development, structuring, reporting or implementation role at a bank, insurer, asset manager or consulting firm
  • Ideally involved syndication of risk / placement of securitisation tranches
  • Experience building complex, dynamic financial models to analyse debt investment opportunities in an underwriting, investment or credit rating capacity
  • Strong interpersonal and communication skills (verbal and written)
  • Flexible, adaptable and able to demonstrate initiative
  • Strong MS Excel skills, working knowledge of C++ beneficial
  • Comfortable working in a dynamic environment and delivering results on time
Additional Information

The brand with the brolly is choosing today to change tomorrow.

Since 1836, we've grown to become one of the world's largest asset managers, homebuilders, pension providers and insurance brands.

We're all here to improve the lives of our customers, build a better society for the long term, and create value for our shareholders - helping to shape a better future for society and the planet.

We need people who share our ambitions, agility and entrepreneurial spirit to help us do it.

At L&G, you'll find a balance that helps you be your best. Empowered by hybrid working, we're supported by technology and workplaces that enable us to work effectively wherever we are. We come together in offices to collaborate and connect, and use time at home for individual, focused activities. And, when we achieve great things, we celebrate our success and reward strong performance.

Today, there's over 10,000 of us, working towards our mission, with plenty of opportunities to grow your career as we grow L&G. Will you join us?

Great minds don't have to think alike, so we welcome voices from all backgrounds. Bringing together people with different life experiences helps us build empathy with our customers and drive innovation.

We don't just talk about it, we actively promote diversity and equitable opportunities for all. That means our employment decisions are made without regard to race, colour, religion, national or ethnic origin, sex, sexual orientation, gender identity or expression, age, disability or protected veteran status. In fact, we embrace every dimension of diversity to reflect the customers and communities we serve.

We think it's important to create an inclusive environment where we can all belong, contribute and drive progress, where you can develop and grow, and be empowered. We want you to use your voice to help us build a better tomorrow.

We all work differently, and have different needs, which is why. we're always open to discussing flexible working arrangements. Likewise, we're committed to finding reasonable accommodations for candidates with specific needs during our recruiting process.

So whoever you are, wherever you are, whatever your story, we'd love to hear from you.

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