Assistant Portfolio Manager

Recruiter
Legal & General
Location
London
Salary
Competitive
Posted
12 Feb 2019
Closes
18 Feb 2019
Contract Type
Permanent
Hours
Full Time




    Company Info

    LGIM is the investment management arm of Legal & General Group, a FTSE 100 company. We are one of Europe's largest asset managers and a major global investor, with assets under management of GBP983.3bn* (as at 31 December 2017). Our success has been built by focusing on clients and providing them with services and solutions that meet their needs. We offer strategies across the full spectrum of asset classes, including equities, bonds, property, alternatives and cash, as well as multi-asset strategies tailored to the needs of institutional and retail investors.

    LGIM is one of the world's leading providers of index fund management. We are at the forefront of developments in liability-driven risk management solutions for defined benefit pension schemes, a leading provider of defined contribution solutions and also offer wide range of strategies to help our clients manage their investment objectives. LGIM continues to innovate as markets evolve, building strong relationships with clients including pension scheme, sovereign wealth funds, wealth managers and other professional investors.

    We understand that our scale brings responsibilities. We play an active role in the companies we invest in, from exercising shareholder voting rights to directly engaging with companies at a board level. By engaging with businesses, we aim to unlock value for investors and shape the future and sustainability of financial markets.

    In addition to having a leading position in the UK, we have selectively expanded into new markets across Europe, the Middle East, Asia and the US. We believe that translating our capabilities to reflect the needs of our international clients will mean we are well placed to help them achieve their objectives.

    *LGIM internal data as at 31 December 2017, including derivative positions and advisory assets. These figures include assets managed by LGIMA, an SEC Registered Investment Advisor.


    Department Info

    LGIM manages fixed income, equity, multi-asset, liability-driven investment, property and alternative solutions on behalf of its clients. Located across the globe, our clients include institutional pension funds, financial institutions, local authorities and sovereign wealth funds. In order to meet the complex and evolving investment needs of our clients, we focus on remaining at the forefront of investment product innovation and maintaining our reputation as experts across all asset classes.

    We are an equal opportunities employer and welcome applications from all suitably qualified persons regardless of their race, sex, disability, religion/belief, sexual orientation or age.


    Job Duties

    The Solutions Team is one of the key investment teams at LGIM and consists of Solutions Portfolio Management, Solutions Strategy and Fiduciary Management.

    LGIM has supported many pension scheme clients on their de-risking journeys, an area of strategic importance to LGIM and the wider L&G Group, by implementing a significant number of LDI mandates, in both segregated and pooled formats.

    LGIM have experienced a rapid increase in AUM for LDI mandates and is now the largest LDI manager in the UK.

    As the business has grown, LGIM has broadened the mandates that it offers and the types and geographical locations of the clients that it supports - the Solutions Team now manages different types of mandates for pension scheme clients, insurance clients and sovereign wealth funds in the UK, Eurozone and Asia.

    LGIM will continue to use this deep and wide-ranging experience to expand further its Solutions offering.

    Principal Accountabilities
    • Contribute to delivering robust and easily accessible analysis of all LDI funds under management
    • Assisting with the construction of appropriate risk management solutions for bespoke and pooled fund clients which: meet our clients' strategic hedging objectives, are standardised and scalable, are timely and accurately produced, and take into account current market conditions.
    • Provide key technical input into the implementation of client mandates
    • Assisting with the ongoing provision of a high quality Portfolio Construction service to key client mandates the candidate is responsible for, including identifying market opportunities (i.e. trades are developed, communicated and implemented in a timely fashion)
    • Support the expansion of the LDI product range through the initial construction, Implementation strategy and ongoing monitoring of complex mandates
    • Work collaboratively with other areas of LGIM to ensure LDI solutions are implemented efficiently, including working across Solutions Portfolio Management Funds, investment risk, product strategy and development and Client Relationship Managers to ensure client objectives are met and appropriate strategies are implemented within LDI portfolios


    Skills Required

    Essential
    • Strong IT & modelling skills
    • Good knowledge of VBA, C#, Python
    • Some knowledge of the following instruments and markets:
    • Inflation swaps
    • Interest rate swaps
    • gilts and gilt repos
    • Exchange traded and OTC equity options and option strategies such as risk reversals, put spread collars, call spreads, call overwriting
    • Familiarity with the LDI/derivatives market and recent trends in risk management solutions for pension schemes
    • Basic knowledge of process for collateralisation and margining of derivatives

    Desirable
    • Experience applying financial models to client mandates or investment portfolios
    • Basic knowledge of other asset classes used by pension schemes outside of LDI
    • Familiarity with UK pension schemes risks and their liability structure and benefit increase types
    • Some exposure to bespoke derivative-based technical LDI client mandates
    • Some experience working with investment consultants and pension scheme Trustees
    • Basic knowledge of regulatory developments which will impact OTC derivative markets and LDI markets for pension schemes specifically
    • Working towards professional qualification such as FIA, CFA


    Benefits

    Whatever your role, we reward ability, performance and attitude with a package that looks after all the things that are important to you. Our employees have a wide range of benefits including a generous pension scheme, life assurance, 25 days' holiday, private medical insurance, performance related bonuses, a variety of share schemes, discounts at both a huge range of high street stores and our own great products, as well as a 12% car allowance scheme, your hard work will be rewarded when you join us.