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ALM Specialist


ALM Specialist

Business Area: Multi Asset Allocation

Place of Work: London

Contract Type: Permanent

Hours: Full Time

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 mission
To be the pension service of choice for the higher education sector for the long-term
The role
To support and build on the capability within the Strategy Advice function associated with all ALM related activity. More specifically this relates to areas of analysis, advice and support pertaining to the triennial valuation process, stochastic analytics and liability cash flow dynamics. 

This role is intended to assist in the alignment of the asset strategy with the overarching and long-term liability dynamics on the DB side, and to assist in the development of the Glidepath and life-styling options associated with the DC side. The role will also form a bridge between the Funding Strategy team and USSIM. 

The role provides support and development to all ALM related activities, including valuation support, LDI and long term stochastic risk modelling in the context of portfolio construction and management. 

Key responsibilities
Delivering Results
Incorporates ALM analytics into the investment strategy discussion and develops the existing ALM tool (Ortec – GLASS) into the investment process
Works with the Risk function to embed stochastic ALM analytics into the risk monitoring and management across DB and DC
Supports the Integration of the liabilities into the asset allocation process, as well as the liability hedging programmes into the portfolio construction process (DB).
Supports the ongoing development of the DC Glidepath, life-style options and potential future post-retirement offering
Supports the Head of Asset and Liability Solutions and Funding Strategy teams in the scheme triennial valuation process
Supports the CIO/CEO and USSIM Asset Allocation Committee (“AAC”) in portfolio construction and the long-term strategic asset allocation decision process 
Remains abreast of investment market and pension related developments and actively incorporates knowledge in the development of strategic initiatives 
Supports the preparation of committee papers for the relevant boards, coordinating and liaising with Head of Strategy Solutions on content and other requirements.
Continue to improve the consistency of market data used for analytics originated by ISA
Be responsible for asset inventory and model compliance for all the internally developed models used by ISA

Managing Resources
Maintains constant dialogue with Head of Asset and Liability Solutions, Head of ISA and Funding Strategy Team
Works closely with the Strategy Advice team to coordinate work load amongst analysts 
Operates a quality assurance process to ensure consistency and accuracy across the Strategy Advice team
Remains abreast of wider initiatives, particularly among Funding Strategy, CEO and PAIR functions
Contributes to team discussion and project development, inputting on issues regarding scheme structure, direction and the appropriate integration of wider initiatives.
Ensures all process documents are up to date for the most efficient use of resources
Your experience

The successful candidate would likely have an actuarial background with experience of advanced stochastic analysis.
An awareness of both DB and DC structure and dynamics would be key.
Excellent analytical skills – able to pick up new and challenging concepts and able to provide clear solutions
Intellectual curiosity – willingness and ability to investigate and develop new ideas and investment strategies
High level of structure and organisation and the ability to work across teams
Flexibility in approach – adaptability to different market conditions
Ability to communicate effectively in both written papers and oral presentations
Competent at prioritisation, process organisation, and management of multiple workstreams
Ability to influence, to fulfil investment decisions

USSIM is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.

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