Assistant Director, Restructuring Services, Employer Covenant, Financial Advisory
This is an exciting opportunity to join Deloitte’s growing employer covenant and pensions restructuring team, supporting our wider pensions advisory offering. You will work alongside our established team of specialists, and will be integral to accelerating the growth of our business both in terms of seeking new opportunities and delivering first class advice.
Our work spans advice to both pension trustees and corporates on all matters relating to employer covenant, including both regular assessments as well as in restructuring situations. Our client base ranges from large corporates / schemes to mid-market employers. We regularly advise in high profile cases and pride ourselves on our innovative solutions to complex issues.
The employer covenant team sits in our Restructuring Services practice, working very closely with pension experts across the firm (eg actuarial, investments, audit, tax). We are a national practice, with covenant specialists in London, Birmingham, Cardiff, Manchester and Glasgow.
We take your development very seriously. You will receive continuous training and on-going supportive feedback to help you develop in your current role and to where you aspire to be. There is a career path for everyone. We foster an open and friendly working environment that naturally allows everyone to learn from the wide range of experts within the practice.
As an Assistant Director in our employer covenant team you will find the work is extremely varied - from performing triennial covenant assessments for Trustees, to supporting Corporates navigate pensions issues in the context of a major transaction or restructuring situation.
Our advice is frequently delivered via a written report, anchored on robust financial analysis and reflecting the requirements set out in the Pensions Regulator’s code. Therefore it is essential that you have exceptional analytical and report writing skills and experience applying these skills in an employer covenant context. You will be required to lead more junior teams and review their work, as well as working collaboratively with different departments where a multi-disciplinary approach is required. As such, exceptional project management and leadership capabilities are essential.
An important part of the role will be business development, and you should expect to spend significant time identifying targets, developing leads, preparing marketing materials, client proposals and presenting at pitches. As such, an existing network of contacts in the defined benefit pensions community would be desirable.
Your work, your choice
At Deloitte we believe the best impact is the value we add, not the hours we sit at our desk.
We, therefore, carefully consider agile ways of working, both formal and informal, that allow for the best impact for our people and our clients. If the working pattern you are looking for is not specifically indicated below, we are happy to discuss alternative arrangements.
Location: You will be based in either the Deloitte Manchester, Leeds or Birmingham office, however the role may also involve travel and will require the flexibility to meet peaks of work inherent in the cycle of a project. We specify full mobility for our financial advisory roles but we make arrangements respectfully. Working from home days are available and flexible depending on clients, deadlines, and projects.
Suggested work pattern: Permanent full-time. We do encourage careful consideration of agile ways of working, both formal and informal arrangements that allow for the best outcomes for our people and our clients. If this opportunity is interesting as a permanent role with a degree of flexibility, please do discuss with us.
Your professional experience
· Covenant advice:
- Triennial covenant assessments, concluding on the strength of the employer covenant
- Advising on options to improve covenant strength
- Affordability analysis and advising on implementation of recovery plans
- Development and implementation of covenant monitoring frameworks
- Advising on the covenant impact of a transaction / restructuring, including in the context of TPR’s "moral hazard" powers
- Advising on development of mitigation packages
- Outlining options to restructure pension schemes in certain situations
- Managing diverse teams within an inclusive team culture where people are recognised for their contribution.
· Business development:
- Identifying potential targets through research, market awareness and through contacts in the pensions community
- Progressing leads
- Writing marketing materials and client proposals
- Presenting at pitches
- Attending marketing events and developing internal and external network
- Experience of undertaking employer covenant review
- A strong understanding of the UK pensions environment, regulatory landscape and the market for pensions advisory services
- An existing network of contacts within the pensions community (eg Trustees, lawyers, other advisors)
- Business development skills including generating leads, utilising contacts / network and selling value added service
- Ability to undertake detailed financial / commercial analysis to identify all key business issues
- Strong business diagnostic skills and commercial acumen
- Understanding of the insolvency principles underpinning covenant analysis, estimated outcome statements and evaluating restructuring options
- Exceptional report writing skills
- Strong project management skills with effective time management and aptitude/willingness to work under pressure and to tight deadlines
- Client focussed approach, with the ability to quickly establish effective working relationships with clients and other advisers
- A strong academic track record
- ACA or other recognised accountancy qualification (JIEB qualification helpful but not pre requisite)
- Ability to develop / coach junior members of the team
For full job description please see our Career Site
Requisition code: 162937