Asset Liability Manager

Michael Page Finance
11 Jan 2018
10 Feb 2018
Contract Type
Full Time

You will manage the assets and liabilities of pensions' schemes in the UK and jointly develop (with stakeholders) the appropriate asset liability strategies; aiming to reduce funding deficits and volatility, reduce reliance on covenant and reduce risk for the company.

Client Details

The company was founded in 1916 and has its headquarters in Bavaria. They produce vehicles in Germany, Brazil, China, India, South Africa and the United States. In 2015, they were the world's twelfth largest producer of motor vehicles. They are a globally recognised brand with a long and rich heritage.


Key Responsbilities:

  • Engage with the Investment Consultant and other stakeholders and develop an asset liability strategy that effectively reduces the funding deficit, deficit volatility and risk to the company. Review and challenge the Consultant's analysis and advice; develop alternative views.
  • Monitor the effectiveness of the LDI (liability driven investments) and their inherent risks to the schemes; ensure the LDI mandate is understood / challenged with respect to its underlying assets / financial derivatives and its performance against an appropriate benchmark. Liaise with the central asset management team (FF-3) and LDI manager (Blackrock) to continuously enhance reporting and the Trustees understanding of LDI portfolio.
  • Coordinate and manage the asset allocation process and scheme's investments internally and with Consultants (e.g. Investment Consultant, Legal Advisors), Asset Managers and Custodian. Ensure timely investments in accordance with the Trustees' mandate.
  • Review asset management fees and ensure their adequacy / correctness.
  • Control, review and approve financial reports, Investment Manager analysis, Control / Compliance and ad-hoc requirements to ensure accurate and timely output according to the agreed service levels.
  • As Secretary of the Investment Committee (BOPS), prepare and organise meetings, take minutes and follow up on actions / decisions.
  • Manage and monitor the scheme's appointed Custodian.
  • Maintain and develop information accuracy and security in internal and external relationships.
  • Manage relationships and monitor key external investment managers appointed by the Trustee boards.

Key pillars:

  • Investment Managers: relationship management - coordinate review of legal documentation, monitor that agreed strategies are followed, ensure breaches of investment guidelines are corrected, monitor and challenge investment decisions, verify managers' performance and reporting, negotiate and agree remuneration.
  • Investment Consultants: challenge short term and strategic Investment advice, provide alternative solutions and strategies, co-ordinate implementation of agreed strategies.
  • Global Custodian: negotiate pricing and income participation levels, monitor service levels and facilitate review meetings, influence operational priorities, follow up issues and track problem resolution.
  • Bank relationships: relationship Management - review and approve documentation, systems development and implementation.
  • FF-3: calculation and reporting of multi asset / multi scheme performance.
  • Provide investment information, support for non-UK asset management and financial modelling. Provide accounting / IAS information. Maintain strong relationship with the Munich based Asset Management Team; exchange regularly investment views and ideas; regular visits to Munich are required


Person Specifications

  • Proven experience with financial markets and multi-asset strategies. Experience with company and trust accounts including audit. May hold professional Finance / Accountancy qualification (or equivalent). Highly numerate; able to undertake and check complex calculations.
  • Technical knowledge: highly developed Accountancy skills with proven experience of financial accounting, management reporting, statutory reporting and budgeting. Capable of contributing Risk management and Treasury expertise to the business and Trustees. Detailed understanding of financial instruments, financial markets and their workings as well as an understanding of Taxation issues and the ability to undertake calculations.
  • Ability to think strategically and consider the long term development of the business, associated resource and process development requirements.
  • Excellent communication skills, both verbal and written. Able to communicate effectively and proactively both within the company and externally.
  • External relationship management experience; able to develop relationships to the benefit of the organisation and Trustees.
  • General management skills, including proven experience of effective people management and development, process design and monitoring, quality improvement and monitoring.
  • Project management - able to deliver projects, including planning and implementation, ongoing monitoring and delivery to agreed timescales and budgets.
  • Change management - able develop, propose and successfully drive through change initiatives to agreed timescales.
  • Knowledge and understanding of Sun accounts. Significant experience of MS Excel and Word software.

Job Offer

Very competitive salary, a market leading car allowance and other benefits including season ticket loans, healthcare and the like.

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