London LGPS CIV Limited ("London CIV") has been established for and on behalf of London's 33 local authorities as an investment fund manager through which they can collaborate and collectivise the investment of their individual pension fund assets. With over £29 billion of assets across the 33 funds invested with almost 90 different Investment Managers through around 260 different mandates and costing some £135 million in fees, there is significant scope for savings and efficiencies whilst maintaining performance.
London CIV was authorised as an Alternative Investment Fund Manager in October 2015 with permission to operate one of the UK's first Authorised Contractual Scheme funds. The Fund went live in early December 2015 with its first sub-fund. Since then we've opened another five sub-funds with around £3.6 billion of assets under management. Work continues to develop more sub funds on a rolling schedule with the ultimate aim of having products available across the full range of asset classes.
Creation of the London CIV continues to be one of the (if not the) most exciting projects in the financial services sector. It's taken three years to get to where we are and we have much more still to deliver if we are to achieve our ambition, which is to be:
The investment vehicle of choice for local authority pension funds, through successful collaboration and delivery of compelling performance.
It is critical that we expand our team to help meet our objectives and we are seeking to recruit a number of individuals to join London CIV. One of these positions is for a Head of Fixed Income, a new and exciting position that will play a key role in the development of the organisation.
This is a chance to be part of an investment management business at an early stage in its development, and one which is already a high-profile organisation in the Local Government Pension Scheme sector. Joining a small experienced team in an entrepreneurial and dynamic culture, it is a genuinely unique opportunity.
The successful candidate will have significant experience of risk management in an authorised Fund Manager environment and will ideally have experience of the management and oversight of outsourced fund managers.
Salary will be competitive commensurate with the public sector and not for profit nature of the Company. The role also provides access to the Local Government Pension Scheme, a defined benefit scheme.
The successful candidate will be responsible for the risk management systems and processes across the company and providing appropriate reporting.
- Develop systems and processes for managing and monitoring risk for all LCIV's business activities per the business plan
- Develop fund risk profiles
- Preparation of risk reports
- Provide in-depth analysis of the risks to the company and funds and the third party investment managers and use initiative to identify when more analysis is required
- Design / assist in the development of processes to assess risk characteristics and performance attribution for investment strategies
- Identify ways to present data analysis in formats which draw attention to key changes and promote the assimilation of data for the target audience
- Manage / assist in research connected with new products or risk projects
- Manage / assist in the collection of data to develop analysis
- Ensure timely, efficient and accurate production of regular information
- Maintain up to date procedures
- Oversee performance reports
Essential skills, knowledge and experience
- Strong technical knowledge of how risk is monitored and managed in a fund management company
- Experience in alternative funds environment
- Excellent modelling skills and understanding of risk methodologies, Factor Risk Models, VAR, and Monte Carlo
- Advanced Excel skills
- Comprehensive understanding of the regulatory environment
- Highly methodical and process-orientated
- Self-starter, strong work ethic, high achiever
- Willingness to work as part of a small but growing team and desire to take on increased responsibility as the team grows
Desirable skills, knowledge and experience
- Experience of working with outsourced administrators and investment managers
- Knowledge of the AIFMD regulatory environment
Deadline for applications is 15 May 2017
If you are interested in this opportunity and fill the requirements, please apply here submitting a copy of your CV.