Head of Investment Strategy

We help people achieve a better later life. That's our purpose and it's the reason we exist. We are a fast-growing FTSE 250 company helping customers enjoy the retirement they deserve. We do this through a variety of market leading, award-winning products and services, delivered by a diverse team of over 1,400 purpose-led colleagues who genuinely put the customer at the heart of everything we do.

This is a brilliant time to join our business. We are on an exciting growth journey to become the UK's most loved retirement expert.

Purpose

The Head of Investment Strategy will be responsible for implementing our investment approach, in particular that our asset allocation is appropriate from an accounting and regulatory balance sheet perspective, new initiatives are appropriately evaluated and our strategy is connected to the activities of the rest of the investment team and the broader business. The purpose of the role is to support our investment activity of the business such that we can offer our policyholders the best possible security and pricing.

Job Role Accountabilities

• Technicals
  • Be responsible for understanding and implementing investment strategy with regard to the accounting (IFRS17) dynamics of our balance sheet via optimising the back book and new business investment
  • Be responsible for understanding and implementing investment strategy with regard to the regulatory (Solvency 2 / Solvency UK) dynamics of our balance sheet via optimising the back book and new business investment
  • Demonstrate market leading understanding of our regulatory requirements and industry standards, keeping abreast of changes and assessing how our investment strategy can evolving best practices.
  • Collaborate with legal and compliance teams to address any regulatory challenges or inquiries.
  • Be aware of and be conversant in
    • The accounting and regulatory impact of investments
    • The landscape of investment opportunities that are appropriate for a UK life assurer, including what our peers are doing
• Asset allocation:
  • Be responsible for implementing and reporting on our asset allocation approaches:
    • Strategic - over the long term
    • Medium term - over 5 years
    • Annual (matching adjustment portfolio only) - investment of new money and back book over a given calendar year, updated quarterly
    • Tactical - strategic views in light of pricing, credit, macro factors
  • In general leading on asset allocation discussions, including how it may change with best practice, how the nature of our liabilities change and other business imperatives
  • In relation to our non-matching / surplus assets implement the approved strategy, asset allocation, investment actions and monitoring
  • Develop and implement methodologies for pricing new business opportunities, considering market conditions, risk factors, and potential returns.
    • Collaborate with underwriting and actuarial teams to ensure pricing models align with the company's financial objectives
    • Understand how these need to be reflected in the investment strategy and asset allocation
• Collaborate with portfolio managers, analysts, and other stakeholders to ensure effective execution of the investment strategy
• Stay abreast of market trends and industry developments to identify and assess new asset classes that are appropriate for our investment strategy.
• Evaluate the risk-return profiles of potential new asset classes and make recommendations for their inclusion in the investment portfolio
• Implement robust risk management frameworks to identify, assess, and mitigate potential risks associated with the portfolio
• Demonstrate expertise in handling in specie assets, ensuring efficient management and seamless integration into the investment portfolio.
  • Collaborate with relevant teams to assess the impact of in specie transactions on the overall portfolio and implement strategies to maximize their value.
• Broader Business Collaboration:
  • Communicate investment strategies, performance, and market insights to internal and external stakeholders, including senior management, board members, and clients.
  • Foster transparent and collaborative relationships with key stakeholders
  • Produce accurate and concise material, including internal papers, investment proposals and management information where relevant, liaising with internal stakeholders including Legal, Finance, Actuarial, Capital Management and Risk.
  • Write and present investment papers to appropriate internal committees
  • Help to ensure that Just Group complies with internal and regulatory standards on responsible investment.
  • Support further ad hoc investment related projects including investment aspects of Solvency II, transforming asset portfolios, day to day management of internal / external stakeholders etc
  • Further associated ad hoc tasks and projects that may be required from time to time.
• Lead and inspire a high-performing investment strategy team, fostering a culture of innovation, collaboration, and continuous improvement.
• Provide mentorship and professional development opportunities for team members.
• Manage staff in the team in a manner that meets Just's cultural and business objectives

Examples of Key Activities

• Be responsible for understanding and implementing investment strategy with regard to the accounting (IFRS17 and Solvency UK) dynamics of our balance sheet via optimising the back book and new business investment
• Propose and justify an asset allocation for new business on the basis of current investment activity and business financial metrics.
• Demonstrate expertise in handling in specie assets, ensuring efficient management and seamless integration into the investment portfolio

Qualifications

• Must have a first class or upper second class degree or equivalent experience
• CFA or similar

Skills and Knowledge

• Excellent analytical skills, including ability to make commercial judgements in light of uncertain circumstances. Able to support judgement calls with a clear justification.
• Excellent verbal, written communication and interpersonal skills, with the ability to present investment matters in a clear and concise manner
• Understanding and experience in executing research, due diligence and investment evaluation
• Strong results focus, with ability to work efficiently and grasp concepts that are not straightforward, yet seek guidance where necessary
• Excellent team-working skills and ability to maintain relationships with internal stakeholders and develop relationships with external parties

Demonstrate strong aptitudes in:

• Investment matters and strategies, in particular credit, with the ability and interest to develop further
• Research and getting a thorough understanding of the issues being examined
• Approaches to understanding and evaluating risks
• Investing on behalf of liability driven investors

Knowledge of:

• Long only and fundamental investing, with the ability and interest to develop further
• Fundamental understanding of the challenges and considerations involved in investing on behalf of a life insurer.
• Financial markets in general
• Understanding of the products and services provided by Just Group

Experience

• Demonstrable track record of relevant experience in a bank, insurance company, asset manager or consultant
• Experience managing fixed income portfolios, asset allocation and portfolio construction
• Recognising that this is a "Head of" level hire, experience in taking ownership of activity is essential
• Coding skills, like Python would be an advantage

Company Benefits

• A Competitive Salary, Pension Scheme and Life Assurance
• Along with 25 Days Annual Leave plus an Additional Day on us for your Birthday
• Private Medical Cover and Income Protection, just in case
• A generous and highly achievable bonus scheme - paid annually based on individual and company performance against targets
• Opportunity to progress within your career both in-role and within the company
• FREE access to the Headspace App, a 24/7 Employee Assistance Helpline and Trained Physical & Mental Health First Aiders (On-Site)
• A variety of Employee Funded Benefits available to you via our Online Benefits Portal
• Plus, several additional purchase options available for you and your loved ones

Why Just?

At Just you'll have the opportunity to develop your career, whilst making a difference to the lives of those around you. You'll be part of a company with a strong and distinctive culture - we're ambitious, curious and collaborative - and every decision we make centres around being Just and delivering the best outcomes for our customers.

We're committed to building a more sustainable business, and we're working hard to make progress against our Net Zero targets . We're reducing our reliance on fossil fuels in our offices, switching to more sustainable sources of energy and we're investing more of our money in green and social assets.

Valuing diversity of thought and fostering a sense of belonging is critical to our business success, driving innovation and balanced decision making. Our work on DEIB (Diversity, Equity, Inclusion and Belonging) aims to deliver a brilliant employee experience underpinned by a sense of belonging, where our people feel proud to work at Just . click apply for full job details