Investment Manager - Structured Credit and Mortgages

Legal & General (L&G) is a leading UK financial services group and major global investor.

We’ve been safeguarding people’s financial futures since 1836, and strive to build a better society, while improving the lives of our customers and creating value for shareholders.

We are one of the world’s largest asset managers and provide powerful asset origination capabilities. Together, these underpin our retirement and protection solutions: we are an international player in pension risk transfer, in UK and US life insurance, and in UK workplace pensions and retirement income.

L&G Institutional Retirement looks after around 700,000 institutional customers who have their retirement benefits secured with us. Operating continuously in the UK market from our entrance in 1987, we are the UK’s longest-running insurer.

Our Institutional Retirement division provides pension risk transfer (PRT) solutions for UK and US defined benefit (DB) schemes, and reinsurance solutions from our global hub in Bermuda. We work with companies, DB pension schemes and their advisors to help them secure and protect scheme members’ retirement benefits.

Joining us means you’ll support customers’ financial security in retirement; help companies to settle their pension liabilities and focus on growing their businesses; and enable investment for the long term to back our pension promises.

Job Description

Join our dynamic Structured Credit and Mortgage Team as an Investment Manager. You will play a crucial role in overseeing our Institutional Retirement’s investments, defining risk appetites, and contributing to strategic initiatives. This is an exciting opportunity to be part of a team that supports the optimisation and diversification of our portfolio.

What you'll be doing:

• Contributing to the expansion of Structured Credit and Mortgage investments to support new business volumes and optimise the portfolio
• Focusing on the portfolio management of the mortgage portfolio, including identifying key risk market factors and creating key risk metrics and risk appetites
• Overseeing asset managers’ mandates and performance to ensure alignment with risk appetites and investment goals
• Developing and improving the investment framework for structured credit and mortgage sectors to maximise risk-adjusted returns
• Leading the assessment of investment opportunities, representing Institutional Retirement with third parties, and collaborating with internal teams for execution and monitoring
• Drafting and presenting governance papers to key stakeholders to garner support for new structuring initiatives
• Supporting the development of good relationships with other relevant teams to ensure effective collaboration and delivery of investment objectives
• Ensuring all business processes and internal controls are designed and performed to deliver good customer outcomes and manage Conduct Risk

Who we're looking for:

• Undergraduate degree in a quantitative subject such as Maths, Physics, Finance, or Computer Science, or a degree in Accounting or Management
• Experience in building complex, dynamic financial models to analyse debt investment opportunities
• Strong interpersonal and communication skills
• Flexibility, adaptability, and initiative
• Strong MS Excel skills, with working knowledge of C++ being beneficial
• Comfort in working in a dynamic environment and delivering results on time
• Familiarity with mortgage markets and insurance balance sheet mechanics