Associate/Senior Associate - Manager Selection
Business Area: Strategy Co-ordination
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.
To be the pension service of choice for the higher education sector for the long-term
Under direction of the Head of Manager Selection focus on monitoring and selection of external public market long only mandates, across asset classes, with a primary focus on fixed income allocations within the DC and DB Schemes.
• Analyse and review existing mandates to ensure ongoing fitness for purpose and produce regular monitoring reports
• Source high quality external managers to cost-effectively implement scheme’s desired beta and alpha solutions
• Work with asset class heads to ensure diversification of alpha and maximise risk-reward of external manager programme
• Develop and refine close peer groups for all external mandates and identify back up managers.
• Recommend improvements, as necessary, to the research process
• Conduct thorough mandate search and produce initial long and short lists of managers, sometimes working with external consultants.
• Conduct thorough investment qualitative and quantitative due diligence (DD) on prospective managers, including effective operational pre-screening
• Ensure that all DD reports and supporting materials are appropriately filed on a timely basis
• Contribute to improvements in the DD process
• Marshall managers through the DD process in liaison with ODD, legal, PAIR, Compliance, RI, and operations
• Work closely with legal on negotiating IMA and side letters with managers
• Own most aspects of manager on-boarding and mandate implementation
• Establish, deepen and strengthen relationships with external managers to maximize value-added
• Develop relationships with asset class heads to understand their strategies and how to help implement them
• Work closely with other functions within the Investment Product Management (IPM) team.
Experience researching and selecting managers across multiple asset classes with a focus on credit
Clear-headed analysis of the investment merits and risks of a manager and strategy
Strong balance of quantitative and qualitative analytical skills
Highly numerate and computer literate
Excellent communication skills (written and oral)
Hard-working team player
Sound judgement & commercial awareness
Performance orientated and results-driven
Able to drive an investment through from proposal to due diligence, onboarding and monitoring.
Experience onboarding segregated mandates or bespoke Fund of Ones at another institutional investment firm
USSIM is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.