Local Pensions Partnership Investments Ltd (LPPI) is a wholly-owned investment subsidiary of Local Pensions Partnership (LPP). LPPI manages £16bn of pension assets for local government pension schemes (LGPS), with full delegation for the selection, monitoring and management of fund managers, and implementation of investment strategy on clients’ behalf.
Since its launch in April 2016, LPPI has successfully designed and launched a suite of asset class-based investment funds which can be utilized to deliver clients’ strategic asset allocations. LPPI’s investment professionals are seasoned global investors whose experience span assets classes and investment styles, with deep buy/sell side asset management and capital markets experience.
The overarching focuses of the role are to
- Support and work with the Client Portfolio Managerand positively contribute to the Client Portfolio Management business function.
- Work with the wider Strategy Team to form and present our delegated services.
- Partner with the broader LPPI / LPP teams in delivery to clients and enhance LPPI’s offering.
This is not a client facing role. However, the successful candidate will maintain an ongoing knowledge of each client’s portfolio and circumstances. A strong technical knowledge in areas such as investment management, global markets and defined benefit pensions is required. The role will sit within LPPI’s Strategy Team. Strong written and verbal communication skills are essential as is the ability to simplify complex / technical ideas in a concise way.
Strong cross-functional/business collaboration skills are required as the candidate will work with/across multiple teams within LPPI. The ability to absorb large amounts of information and apply to specific requirements, manage multiple projects simultaneously and drive them to completion effectively and represent LPPI’s Client Portfolio Management function internally as well as externally is essential.
This role offers an evolving proposition and the right individual will play a part in helping to shape and define their job.
- The core focus will be working with the Client Portfolio Manager on our book of UK defined benefit pension scheme clients. Contributing to the growth and development of our broader business across LPPI will also be part of the role.
- Acting as an “internal client” with regards to the setting of standards and shaping LPPI’s offering from a client perspective.
- Contributing to client delivery, including liaising with internal stakeholders and client representatives.
- Contributing to the delivery of reporting and writing investment commentary.
- Checking client deliverables before they leave the building – a keen eye for both numeric and written accuracy is required.
- Performing analyses on a broad range of topics, including asset allocation, portfolio construction, risk management, hedging and implementation of best practices.
- Supporting investment decisions and portfolio outcomes.
- Supporting business development efforts through RFP responses and creation of presentation material.
- Supporting ad hoc research and contribute to articles and white papers on relevant topics of interest.
- Be directly involved in the execution and delivery of client projects.
Knowledge & Competence Requirements
The role holder must be able to demonstrate the following knowledge and competence criteria to provide information about investment products, investment services or ancillary services that are available through LPPI:
- Experience of working with institutional pension fund investors / clients.
- Understanding the key features and objectives of a defined benefit pension scheme. An understanding of the valuation process / liability characteristics is desirable but not essential.
- Understand the key characteristics and associated risks of public and private market asset classes. This includes listed equity, fixed income, private debt, private equity, real estate, infrastructure and hedge fund strategies.
- Understand how financial markets function and how they affect the value and pricing of investment products.
- Understand the relevance of headline economic figures and the impact of national/regional/global events on markets and on the value of investment products.
- Understand the difference between past performance and future performance scenarios.
- Assess data relevant to a client’s investment products i.e. Key Investor Information Documents, prospectuses, financial statements, or financial data.
- Understand relevant fund structures including Special Purpose Vehicles and pooled fund structures.
- Understand issues relating to market abuse, anti-money laundering and general compliance related matters.
- Between 5 – 10 years of relevant industry experience. An asset management / investment consultancy background is preferable.
- Pragmatic flexibility to grow into the role profile as required
- Excellent communication skills and ability to explain complex topics to non-technical individuals in writing as well as verbally.
- Good understanding of financial markets, and ideally some experience in one or more of the following areas: Pension funds, asset allocation, investment management, derivatives and risk hedging (i.e. Liability Driven Investment).
- FIA, CFA and/or CAIA encouraged but not required;
- Demonstrated record of academic achievement, work ethic, and leadership;
- Ability to work through complex problems and challenges to provide innovative insights;
- To be a proactive, self-motivated team player who has the ability to manage a high personal workload with multiple deadlines.
- Eager and have a willingness to go above and beyond what is typically required on the job and the ability to think critically and make appropriate decisions.
- Conscientiousness: A keen eye for detail and a strong commitment to quality.
- Effective communication skills including the ability to influence and build good working relationships at all levels both internally and externally.
- An understanding of the breadth of the diversity agenda including embedding good practice and an understanding of LPP’s commitment to combating discrimination and promoting equality of opportunity.
Reasonable adjustment will be made to working arrangements to accommodate a person with a disability who otherwise would be prevented from undertaking the work.