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Alternatives Operations Analyst
The Universities Superannuation Scheme (USS) has circa 396,000 members, and over £60 billion in assets, we’re one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, we’re entrusted by over 350 higher education sector employers to manage and administer the pension scheme and its investments through our two companies, Universities Superannuation Scheme Limited and USS Investment Management Limited.
Our purpose
Working with Higher Education employers to build a secure financial future for our members and their families.
The role
The Operations Department is organised into three teams; Public Markets, Alternatives support and Onboarding/ reporting.
The role sits within the Public Markets Operations team & is focused on supporting the end to end lifecycle of public markets assets.
The role requires a high level of stakeholder engagement with the ability to manage multiple initiatives.
Attention to detail is critical with the ability to set own priorities and manage to multiple daily deadlines.
Key responsibilities
ublic markets
Delivery
• Understanding of trade affirmation/ confirmation processes, for all products, escalating to brokers or internal PM’s as required
• Assessing funding requirement and the funding of central mandates including requesting FX transactions
• Understanding of Trade lifecycles.
• Complete cash and stock reconciliations daily, investigate timely & escalate issues as appropriate
• Complete IBOR vs ABOR reconciliation process, investigate timely & escalate issues as appropriate
• Complete oversight of Fund accounting service providers
• Support operational enhancement testing as prioritized by the team
• Support delivery on new business initiatives into the team
• Operate with minimal errors
• Ensure all teams procedures are accurate & up to date in line with internal policies
Stakeholder engagement
• Provide value by working closely with portfolio managers
• Liaise with Performance, Risk and Finance as required
Reporting
• Create and deliver NAV oversight reporting packs
• Deliver data for Weekly operating Report & team MI pack
• Identify & report risk events in line with business expectations
Third party Relationships
• Own daily relationship with JPM for custody, accounting, GDS and DCM
• Own daily relationship with NT for custody and accounting
• Attendance at third party service reviews as required
Development
• Look for training opportunities to enhance skills
• Improve personal skill matrix score each year
Teamwork
• Strong can-do attitude to work effectively as part of the team
• Willingness to help others in busy periods
Your experience
• Business/ Finance experience of working within a product control / NAV Oversight function within the asset management industry
• Part qualified or Qualified accountant or equivalent
• IMC/CFA qualification advantageous
• A depth of product knowledge across multiple products (OTC derivatives cleared and bilateral, Equity, bonds, FX, ETD and collateral management)
• Experience of Bloomberg AIM
• Attention to detail
• Track record of initiative/project delivery
• Flexible approach to re-prioritise as needed
• Good Excel skills – VBA/Macro experience beneficial
USSIM is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We recognise the diverse lifestyles and priorities of our employees and have reflected this in in the company’s Flexible Working Framework, which, wherever possible, supports employees to find a balance that works for them whilst ensuring we always put our members’ interests first.
| Operations | 02/12/2021 |
| London |
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Analyst - Private Markets
The Universities Superannuation Scheme (USS) has circa 396,000 members, and over £60 billion in assets, we’re one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, we’re entrusted by over 350 higher education sector employers to manage and administer the pension scheme and its investments through our two companies, Universities Superannuation Scheme Limited and USS Investment Management Limited.
Our purpose
Working with Higher Education employers to build a secure financial future for our members and their families.
The role
PMG is responsible for the origination, investment and management of private market activity on behalf of the Universities Superannuation Scheme (USS). PMG comprises c.60 individuals working across private equity, infrastructure, property and private credit with c.£20B in assets under management. PMG manages a diversified portfolio covering investments in directly-held private companies as well as joint ventures, partnerships, co-investment and fund (GP/LP) structures. PMG primarily invests in the UK, North America, Western Europe and Australia and is the largest UK pension fund investor in private market assets. Whilst the majority of assets comprise directly held ownership stakes in private companies, PMG also partners with many of the world’s largest private investors via an extensive programme of fund- and co-investments.
The successful candidate will join a pool of Analysts and Associates working across all investment strategies within PMG. For the first two years after joining PMG, Analysts will rotate across the main investment areas within PMG in order to develop a broad understanding of all aspects of private markets investing, strategy and asset management.
The role will also give Analysts the opportunity to participate in all aspects of the investment process across a mix of direct investment, co-investments and fund investments and will encompass the full breadth of PMG activity across origination and structuring of transactions to asset management and portfolio monitoring.
We are an equal opportunity employer and value diversity in all its forms.
Key responsibilities
• As part of the investment team, working across multiple transactions, your responsibilities will include:
• Investment due diligence (quantitative modelling and qualitative analysis of investment opportunities including preparation and review of commercial and technical due diligence);
• Co-authoring of Approval and Investment Committee papers and, subsequently, help to present these materials at committee stage;
• Collaboration with internal stakeholders including tax, investment legal, operational due diligence and compliance;
• Co-ordination of external advisors including investment banks, General Partners (GPs), external counsel and technical advisors
• Help to assess potential investment opportunities and macro themes alongside the PMG strategy team;
• Initiate and build relationships across advisory network and with investment professional peers;
• Assist asset management activities across PMG including interaction with GPs and oversight of their fund performance, interaction with senior management at the companies in which PMG invests in and attendance at shareholder meetings, monitoring of company performance against pre-determined financial and non-financial objectives, participation in value add and transformation activities
Your experience
• Undergraduate degree or equivalent
• Post-graduation experience with a background in financial services, ideally in an investment context (investment management, investment banking, corporate finance, accounting, ratings agency, financial law or consulting)
• Prior exposure to private markets considered advantageous but not a prerequisite for the role
• Critical thinker with strong analytical and numerical skills that can be applied to company valuation and financial analysis, modelling skills considered a plus although training will be provided
• Excellent interpersonal and communication skills with the ability to develop internal and external relationships
• A strong team player contributing to a supportive and collaborative working environment
• Good work ethic and a self-starter
• Ability to work in the UK with occasional travel to Europe, US and Australia
USSIM is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.
| Private Markets | 07/01/2022 |
| London |
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Analyst / Associate - Maternity Cover
The Universities Superannuation Scheme (USS) has circa 396,000 members, and over £60 billion in assets, we’re one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, we’re entrusted by over 350 higher education sector employers to manage and administer the pension scheme and its investments through our two companies, Universities Superannuation Scheme Limited and USS Investment Management Limited.
Our purpose
Working with Higher Education employers to build a secure financial future for our members and their families.
The role
PMG is responsible for the origination, investment and management of private market activity on behalf of the Universities Superannuation Scheme (USS). PMG comprises c.60 individuals working across private equity, infrastructure, property and private credit with c.£20B in assets under management. PMG manages a diversified portfolio covering investments in directly-held private companies as well as joint ventures, partnerships, co-investment and fund (GP/LP) structures. PMG primarily invests in the UK, North America, Western Europe and Australia and is the largest UK pension fund investor in private market assets. Whilst the majority of assets comprise directly held ownership stakes in private companies, PMG also partners with many of the world’s largest private investors via an extensive programme of fund- and co-investments.
The successful candidate will join a pool of Analysts and Associates working across all investment strategies within PMG, providing maternity cover. Analysts and Associates work across the main investment areas within PMG in order to develop a broad understanding of all aspects of private markets investing, strategy and asset management.
The role will provide an opportunity to participate in all aspects of the investment process across a mix of direct investment, co-investments and fund investments and will encompass the full breadth of PMG activity across origination and structuring of transactions to asset management and portfolio monitoring.
We are an equal opportunity employer and value diversity in all its forms.
Key responsibilities
As part of the investment team, working across multiple transactions, your responsibilities will include:
• Investment due diligence (quantitative modelling and qualitative analysis of investment opportunities including preparation and review of commercial and technical due diligence);
• Co-authoring of Approval and Investment Committee papers and, subsequently, help to present these materials at committee stage;
• Collaboration with internal stakeholders including tax, investment legal, operational due diligence and compliance;
• Co-ordination of external advisors including investment banks, General Partners (GPs), external counsel and technical advisors
• Help to assess potential investment opportunities and macro themes alongside the PMG strategy team;
• Initiate and build relationships across advisory network and with investment professional peers;
• Assist asset management activities across PMG including interaction with GPs and oversight of their fund performance, interaction with senior management at the companies in which PMG invests in and attendance at shareholder meetings, monitoring of company performance against pre-determined financial and non-financial objectives, participation in value add and transformation activities
Your experience
• Undergraduate degree or equivalent
• Post-graduation experience with a background in financial services, ideally in an investment context (investment management, investment banking, corporate finance, accounting, ratings agency, financial law or consulting)
• Prior exposure to private markets considered advantageous but not a prerequisite for the role
• Critical thinker with strong analytical and numerical skills that can be applied to company valuation and financial analysis, modelling skills considered a plus although training will be provided
• Excellent interpersonal and communication skills with the ability to develop internal and external relationships
• A strong team player contributing to a supportive and collaborative working environment
• Good work ethic and a self-starter
• Ability to work in the UK with occasional travel to Europe, US and Australia
USSIM is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We recognise the diverse lifestyles and priorities of our employees and have reflected this in in the company’s Flexible Working Framework, which, wherever possible, supports employees to find a balance that works for them whilst ensuring we always put our members’ interests first.
| Private Markets | 16/11/2021 |
| London |
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Assistant Trustee / Company Secretary
The Universities Superannuation Scheme (USS) has circa 396,000 members, and over £60 billion in assets, we’re one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, we’re entrusted by over 350 higher education sector employers to manage and administer the pension scheme and its investments through our two companies, Universities Superannuation Scheme Limited and USS Investment Management Limited.
Our purpose
Working with Higher Education employers to build a secure financial future for our members and their families.
The role
To be part of the team managing the secretariat support to board and executive committees of the Pension Trustee Company (‘USSL’) and its FCA regulated internal investment management company (‘USSIM’), focusing on providing day-to-day governance, regulatory and statutory compliance and trustee/company secretarial services
Key responsibilities
• To act as company secretary to various committees within the USS governance framework.
• Provision of governance advice to the Group including as to governance best practice and practical guidance on reporting lines and decision-making procedures.
• Act as a representative of the Governance and Co Sec team supporting USSL and USSIM within the business and with external providers
• Act as a business partner and maintain key relationships with non-executive directors, exco members and other senior individuals within the business
• To provide comprehensive high-quality support to board and committee chairs including by leading on agenda setting, annual planners, forward planning and chair briefings for Boards and Committees
• Preparing and drafting minutes for board/committee meetings
• Attending board/committee/regulatory meetings as required and fulfilling all company/trustee secretarial responsibilities
• Organising and arranging board and committee meetings as required
• Writing papers for boards and committees as required (for example – papers regarding governance policies and best practice, director appointments/resignations/succession planning, director skills and competencies, director remuneration, effectiveness reviews and other governance projects).
• Leading, assisting and project managing governance projects (for instance assisting with the end to end director appointment and reappointment processes, best practice reviews, creation of processes, policies, handbooks to meet changing FCA / Pensions Regulator requirements, Governance sections of the Annual Accounts, investment governance documentation updates).
• Manage/assist with board/committee effectiveness reviews, director appraisal process and director training programmes and inductions.
• Assisting in the preparation of statutory accounts as required, ensuring proper process for approvals
• Assist with oversight of training offered to senior management;
• Ensuring compliance with the Companies Act, and FCA/Pensions Regulator governance-related regulatory requirements for relevant companies and directors;
• Working with the rest of the Governance and Co Sec team to maintain the USS contractual documentation library and registry
• Building and sharing best practice knowledge and working closely with both the Legal team and other USS colleagues.
• The maintenance of statutory documentation/files
Your experience
• Experience of working in a governance / trustee / company secretary-related role
• Extensive experience of minute taking.
• Extensive experience and knowledge of Microsoft office
• Experience of providing support and assistance at a senior level
USSIM is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We recognise the diverse lifestyles and priorities of our employees and have reflected this in in the company’s Flexible Working Framework, which, wherever possible, supports employees to find a balance that works for them whilst ensuring we always put our members’ interests first.
| Group General Counsel | 25/01/2022 |
| London |
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Business Analyst, Investment Risk
The Universities Superannuation Scheme (USS) has circa 396,000 members, and over £60 billion in assets, we’re one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, we’re entrusted by over 350 higher education sector employers to manage and administer the pension scheme and its investments through our two companies, Universities Superannuation Scheme Limited and USS Investment Management Limited.
Our purpose
Working with Higher Education employers to build a secure financial future for our members and their families.
The role
To define the scope of projects in conjunction with business sponsors, analyse requirements and specify operational and technical change across USSIM. To take responsibility for providing business analysis across various projects and BAU initiatives, with involvement in activities throughout the full project lifecycle including process definition, system requirements, testing (functional and technical) and implementation.
The successful candidate will be involved in a variety of projects that are either strategic, regulatory or discretionary across the USSIM business areas but with special emphasis on Performance and Investment Risk (PAIR). They will report to the Head of Business Analysis within the USSIM Business Change team.
Key responsibilities
The BA is expected to provide the analysis that will define the scope, requirements and success criteria for a variety of initiatives, primarily in support of the Performance and Investment Risk teams. They will coordinate input from relevant business areas, liaising with the technology change teams (IMS) where appropriate, to define and document proposed solutions for presentation back to business stakeholders for review and sign-off. The BA will act as a point of contact for business and technical colleagues through to solution delivery. The initial focus is involvement in a project to review and implement changes to the investment risk operating model and systems.
The individual will be expected to support Business Change Project Managers and USS PMO, with responsibility for tracking against agreed deliverables and timelines, capturing associated risks and issues, escalating to the Project Manager or Head of Business Analysis as appropriate. They may also be required to provide input to project reporting including SteerCo representation.
The key tasks are expected to be:
• Define the scope of the project, agreeing high level aims with stakeholders.
• Define detailed business and systems requirements in conjunction with users and developers.
• Preparation of a range of documents and project artefacts, as required to suit the task at hand.
• Assess implementation options, influencing stakeholders to select the most appropriate solution. Highlight the implications of each solution not only in terms of project delivery but also business value and on-going support or effort levels.
• Document the current state, proposed outcome and target operating model.
• Planning, preparation, participation in and oversight of testing, transition and implementation.
More generally:
• Assisting with the design and analysis of solutions.
• Liaising with developers to understand technical opportunities and constraints, identify practical solutions, both strategic and tactical where appropriate, and to help prioritise work into releases.
• Analysis and documentation of requirements.
• Formal documentation of design and solutions processes.
• Feasibility analysis.
• Impact assessment of changes.
• RAID log management.
• Develop effective relationships across the business.
• Assist with RFP / selection process for third party vendors where applicable.
Your experience
• Extensive prior business analysis experience (essential).
• Close involvement with investment risk (essential) and performance (preferred) teams and systems.
• Technical familiarity and experience writing systems documentation (essential).
• Experience of either managing work-streams within large projects or project management of smaller projects (strongly preferred).
• A strong background in financial services, with specific asset management and pensions sector experience (highly desirable).
• Logical, structured thought processes and good problem-solving skills.
• Good relationship and stakeholder management skills, with an ability to engage with and gain the confidence of others as well as challenge where appropriate.
• Ability to take the initiative and problem solve. A proactive and constructive approach to issue resolution.
• Strong communication skills (written, pictorial, presentational and verbal) including the ability to adapt communications to different audiences.
• Experience of mapping processes, both current and target, with the ability to summarise key elements succinctly for articulation to senior management.
• Ability to deliver high quality work under tight timelines.
• Strong compliance culture and high personal ethical standards.
• Highly competent at prioritisation, process organisation, and management of multiple work-streams
• Experience of management information typical of that provided to ExCo is desirable.
• Flexible approach to work.
USSIM is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We recognise the diverse lifestyles and priorities of our employees and have reflected this in in the company’s Flexible Working Framework, which, wherever possible, supports employees to find a balance that works for them whilst ensuring we always put our members’ interests first.
| Operations | 07/01/2022 |
| London |
|
Business Analyst, Private Markets
The Universities Superannuation Scheme (USS) has circa 396,000 members, and over £60 billion in assets, we’re one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, we’re entrusted by over 350 higher education sector employers to manage and administer the pension scheme and its investments through our two companies, Universities Superannuation Scheme Limited and USS Investment Management Limited.
Our purpose
Working with Higher Education employers to build a secure financial future for our members and their families.
The role
To define the scope of projects in conjunction with business sponsors, analyse requirements and specify operational and technical change across USSIM. To take responsibility for providing business analysis across various projects and BAU initiatives, with involvement in activities throughout the full project lifecycle including definition, testing and implementation of processes, operating models and system changes.
The successful candidate will be involved in a variety of projects that are either strategic, regulatory or discretionary with a focus on supporting Private Markets Group (PMG) processes. They will report to the Head of Business Analysis within the USSIM Business Change team.
Key responsibilities
The BA is expected to provide the analysis that will define the scope, requirements and success criteria for a variety of initiatives in support of the private markets team (PMG). They will coordinate input from stakeholders, liaising with the technology change teams (IMS) where appropriate, to define, document and present solutions for review and agreement. The BA will act as a point of contact for business and technical colleagues through to solution delivery.
The individual will be expected to support Business Change Project Managers and USS PMO, with responsibility for tracking against agreed deliverables and timelines, capturing associated risks and issues, escalating to the Project Manager or Head of Business Analysis as appropriate. They may also be required to provide input to project reporting including Steering Committee representation.
The key tasks are expected to include:
• Define the scope of workstreams within the project, agreeing high level aims with stakeholders.
• Define detailed business and systems requirements in conjunction with users and developers.
• Prepare a range of documents and project artefacts as required to suit the task at hand.
• Document current state, proposed outcome and target operating models.
• Plan, run and support testing for new or changed processes and systems.
• Work towards strengthening and, where possible, standardising processes to support on-going credit asset management, cash flow planning and modelling. This may involve working with third party platform providers to optimise data feeds and process flows.
• Assist with implementation of processes to ensure that valuations models are properly validated and controlled. Work with PMG analysts and managers, operations colleagues, external asset service providers, financial partners and auditors to ensure that all valuations are robust, maintainable and standardised where possible.
• Gain familiarity with end user functionality and administration of deal systems.
• Enhance operational reporting and contribute to the development of KPI monitoring.
More generally:
• Assist with the design and analysis of solutions.
• Analysis and documentation of requirements.
• Formal documentation of design and solutions processes.
• Feasibility analysis.
• Impact assessment of changes.
• Develop effective relationships across the business.
• Assist with RFP / selection process for third party vendors where applicable.
• RAID log management.
• Liaising with developers to understand technical opportunities and constraints, identify practical solutions, both strategic and tactical where appropriate, and to help prioritise work into releases.
Your experience
The following skills are considered fundamental:
• Extensive prior business analysis experience (essential).
• Technical familiarity and experience writing systems documentation (essential).
• A strong background in financial services, with specific asset management and pensions sector experience (strongly preferred).
• Experience of either managing workstreams within large projects or project management of smaller projects (strongly preferred).
• Prior involvement with alternative assets (in particular private credit but also private equity and property) and private market investment processes and systems (preferred but not critical).
More specifically, the successful candidate should be able to demonstrate:
• Experience of mapping processes, both current and target
• Good relationship and stakeholder management skills, with an ability to engage with and gain the confidence of others as well as challenge where appropriate.
• Strong communication skills (written, pictorial, presentational and verbal) including the ability to adapt communications to different audiences.
• The ability to summarise key elements succinctly for articulation to senior management.
• Logical, structured thought processes and good problem-solving skills.
• A proactive and constructive approach to issue resolution.
• Exacting standards and close attention to detail.
• The ability to prioritise, including management of multiple workstreams.
• The ability to deliver high quality work under tight timelines.
• A strong compliance culture and high personal ethical standards.
• A flexible approach to work.
USSIM is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.
| Operations | 07/01/2022 |
| London |
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Credit Analyst
The Universities Superannuation Scheme (USS) has circa 396,000 members, and over £60 billion in assets, we’re one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, we’re entrusted by over 350 higher education sector employers to manage and administer the pension scheme and its investments through our two companies, Universities Superannuation Scheme Limited and USS Investment Management Limited.
Our purpose
Working with Higher Education employers to build a secure financial future for our members and their families.
The role
Provide support and sector back-up to the Senior Credit Analyst covering the Healthcare, Technology, Media and Telecom (TMT) sectors. Support to the Senior Credit Analyst covering the Consumer and Retail sectors might also be possible. The focus will be predominantly on Investment Grade (IG) credits.
Be a point of knowledge for Global Credit across specified sectors and in time be able to take views on individual credits based on these skills and knowledge. Be able to contribute to the collegiate decision-making process of the desk. Intention is to independently generate investment/divestment ideas for desk as well as actively participate in team discussions around single-names.
USSIM is the investment management arm of USS, one of the UK’s largest private pension funds. Global Credit currently has credit mandates with over £3bn in assets with the expectation for a substantial growth in AUM. Global Credit can invest across the capital structure with a flexible mandate.
Applications are welcome from candidates with a current knowledge in one or more of the sectors mentioned above along with candidates willing to initially specialise in these sectors. Ultimately, we would be looking for the candidate to be able to progress to cover a sector(s) independently.
A background from a Credit Rating Agency, or conventional sell-side or buy-side research role would be useful.
Key responsibilities
Delivering Results
• Provide support in covering sectors with the goal of taking ownership of the credit exposure to allocated sub-sectors over time.
• Monitor these credits closely, including the quarterly earnings reporting and changes in and relative to expectations.
• Keep on top of regulatory and policy changes, as well as macro developments, which could impact the credit exposure.
• Generate investment/divestment ideas and assist the Portfolio Managers.
Managing Resources
• Attend credit conferences/Issuer meetings and share relevant insights.
Managing Relationships
• Key internal relationships with peers across Equities, Investment Strategy and Advice, Manager Selection, Responsible Investing and Private Markets. Aim to collaborate/ share expertise across the various teams to maximise benefit to USS.
• Develop working relationships with key sell-side Analysts.
Managing Processes & Future Focus
• Help to develop and implement monitoring tools and models for allocated sector coverage
Your experience
Essential
• Background as a Credit Analyst.
• Understanding of drivers for IG credits.
• Strong modelling skills.
• Feel for macro factors affecting credit.
• Proficient in Excel.
• Working well in a small team.
• Experience in writing and presenting clear, concise reports/process documents, sometimes synthesising complex material.
Desirable
• Existing sector knowledge of Healthcare, TMT, Consumer or Retail sectors.
• Experience of US and European credit markets.
• Proficient in using Bloomberg.
• Understanding of rating agency methodology for assigned sectors.
USSIM is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We recognise the diverse lifestyles and priorities of our employees and have reflected this in in the company’s Flexible Working Framework, which, wherever possible, supports employees to find a balance that works for them whilst ensuring we always put our members’ interests first.
| Fixed Income and Treasury | 06/01/2022 |
| London |
|
Emerging Markets Debt Strategist
The Universities Superannuation Scheme (USS) has circa 396,000 members, and over £60 billion in assets, we’re one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, we’re entrusted by over 350 higher education sector employers to manage and administer the pension scheme and its investments through our two companies, Universities Superannuation Scheme Limited and USS Investment Management Limited.
Our purpose
Working with Higher Education employers to build a secure financial future for our members and their families.
The role
To make a leading subjective decision making and strategic contribution on both Hard Currency (HC) and Local Currency (LC) EMD portfolios (including LC Inflation Linked (EMIL)).
To complement existing successful systematic strategies that include: HC risk on/risk off beta management, HC index sampling and tilting, LC EMFX overlays, LC cross country allocation, LC EMIL allocation.
Work alongside the Investment Strategy and Advice (ISA) and Risk team to improve the integration of EMD assets in the Asset allocation and Risk management frameworks.
Key responsibilities
Delivering Results
• Enhancing existing EMD systematic strategies by adding a subjective decision making skillset.
• Efficient Portfolio construction and implementation.
• Strategic decision making that delivers more positive skew & higher kurtosis = downside protection, compared to index returns.
• Design and apply improvements to the investment processes and have a full understanding of all the investment mandate(s) constraints and controls.
• Contribute towards attaining best execution results.
• Thorough understanding of the company-wide day-to-day controls.
• Assist in Operational, Risk management and Strategic queries. Coordinate closely with Operations and Middle Office teams.
Managing Resources
• Source investment opportunities and leverage external resources for the scheme
Managing Relationships
• Develop close relationships with both Internal and External EM Managers, Strategists and Research
• Contribute to managing the external EMD manager relationships.
• Internal key relationships are other peers across FIT, PAIR (Performance and Investment Risk), Investment Strategy & Advice (ISA), Manager Selection and Global Emerging Markets (GEMS Equity).
• Aim to collaborate/ share expertise across the various teams to maximise benefit to USSIM.
Managing Processes and Future Focus
• Develop and implement investment process
Your experience
Essential
• Portfolio management / Risk modelling
techniques
• Proficient in Excel and Bloomberg
• Work well in a small team
• Attention to detail
• Clear communication
• Knowledge (experience preferable) of capital controls, debt reprofiling/renegotiations/default.
Desirable
• Good writing ability (synthesise complex ideas
into concise reports)
USSIM is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We recognise the diverse lifestyles and priorities of our employees and have reflected this in in the company’s Flexible Working Framework, which, wherever possible, supports employees to find a balance that works for them whilst ensuring we always put our members’ interests first.
| Fixed Income and Treasury | 26/11/2021 |
| London |
|
Investment Product Management Analyst
The Universities Superannuation Scheme (USS) has circa 396,000 members, and over £60 billion in assets, we’re one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, we’re entrusted by over 350 higher education sector employers to manage and administer the pension scheme and its investments through our two companies, Universities Superannuation Scheme Limited and USS Investment Management Limited.
Our purpose
Working with Higher Education employers to build a secure financial future for our members and their families.
The role
The IPM Team is a central team within USSIM responsible for the oversight (including execution) and governance of mandates, as well as the investment product development across the scheme. The IPM Team provides the “voice of the client” within USSIM and this new role will support the oversight of the scheme arrangements as well as the ongoing design, delivery and governance of the DC investment product.
The role will involve assisting with co-ordination across USSIM and USS to develop and govern the DB and DC investment products. This will include the steering of developments through the required executive and trustee approval process, as well as oversight of the investment management arrangements.
To keep abreast of market developments and help to ensure that the DC investment product is market leading, working with a virtual team across the organisation to help achieve its strategic investment initiatives.
As a new role, there will be the ability to shape how it develops, and some flexibility depending on scheme needs.
Key responsibilities
Managing Processes & Future Focus
• Working with the investment desks, Investment Product Management team and Investment Strategy & Advice team to understand developments and requirements across the USS business
• Work with the Head of Fiduciary Oversight to ensure mandates are implemented in the best interest of the Scheme and members
• Assist with the smooth running of the DC investment product, including oversight and monitoring.
• Support with the continued development of the DC investment product over time to become and maintain market leading status
• Understanding of the regulatory landscape within which USSIM and the scheme operates
Managing Resources
• Working with the rest of the IPM team to ensure that the investment product benefits from the input of the wider USSIM and USS teams
Managing Relationships
• Provide value by working closely with the Head of Investment Product Management, Head of DC Investment Product and Head of Manager Selection & Oversight
• To work with a virtual team across investment operations, compliance, front office, Performance and Investment Risk (PAIR), Responsible Investment, legal, and Investment Strategy & Advice teams within USSIM to help to create, monitor and develop investment products across the scheme
Your experience
• Self-starter in identifying new projects and opportunities;
• Competent at prioritisation, process organisation, and management of multiple workstreams
• Attention to detail; particularly when reviewing documents
• Ability to deliver high quality work under constrained timelines
• High level of structure and organisation and the ability to work across teams
• Ability to communicate effectively in both written papers and oral presentations
• Strong compliance culture and high personal ethical standards
• Enhance and further develop USS’ cultural objectives
• Strong stakeholder focus and ability to understand the relationships between the Business and Stakeholders
USSIM is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We recognise the diverse lifestyles and priorities of our employees and have reflected this in in the company’s Flexible Working Framework, which, wherever possible, supports employees to find a balance that works for them whilst ensuring we always put our members’ interests first.
| Investment Product Management | 11/01/2022 |
| London |
|
Investment Strategy Analyst
The Universities Superannuation Scheme (USS) has circa 396,000 members, and over £60 billion in assets, we’re one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, we’re entrusted by over 350 higher education sector employers to manage and administer the pension scheme and its investments through our two companies, Universities Superannuation Scheme Limited and USS Investment Management Limited.
Our purpose
Working with Higher Education employers to build a secure financial future for our members and their families.
The role
The Portfolio Strategy team provides research, analysis and recommendations on strategic asset allocation, including expected returns and portfolio construction. This role supports the team in developing, maintaining and improving key models used within the Portfolio Strategy team for portfolio construction and risk budgeting.
Key responsibilities
• Undertake asset allocation and portfolio construction analysis to model the implications of different inputs and assumptions including deterministic and stochastic scenarios
• Maintain and enhance existing portfolio construction and risk budgeting tools across a range of investment strategies
• Assists the Head of ISA and Co-Heads of Portfolio Strategy in explaining the analysis to the relevant boards and committees with papers and presentations
• Work with the Asset and Liability Solutions function within ISA to fully integrate the output from ALM models into portfolio construction
• Conduct research projects on strategic and cyclical aspects of asset classes and asset allocation investment strategies
• Responsible for the integration of portfolio construction and risk budgeting tools into the scheme portfolio management software
• Expand and enhance the technical infrastructure including robust data handling to scale asset allocation and portfolio construction process
• Operate a quality assurance process to ensure consistency and accuracy of portfolio construction models
Your experience
• Strong understanding of quantitative asset allocation and/or portfolio construction research
• Excellent problem-solving and analytical skills, strong working knowledge of statistical language (MATLAB/ Python) and databases required
• Experience in a relevant investment role
• Ability to present complex analysis in non-technical terms
• Strong communication skills in both written papers and in presentations
• Knowledge of macroeconomics, investment theory and characteristics of broad asset classes
• Good IT and skills (e.g. Excel) and attention to detail
USSIM is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.
| ISA – Investment Strategy & Advice | 18/06/2021 |
| London |