About The Company
The company is a leading independent global asset management firm.
The company provides its institutional, retail and high net-worth clients with access to skilled investment professionals representing a broad range of asset classes, including equities, fixed income, and alternatives.
Based in London, the firm is one of Europe’s largest investment managers, with £92.7bn assets under management (as at 31 March 2016) and employs more than 1000 people worldwide.
About The Department / Risk Function
The Investment Risk team which is part of the risk function is concerned with understanding client expectations and ensuring the fund risk profile reflects these expectations. On a working basis, this involves working with senior management and fund managers to ensure fund risk levels are in line with expectations. Thus the fund profile, overall level of risk and the composition of that risk is measured, analysed and monitored by the Investment Risk team to ensure it is consistent with client expectations. Furthermore, as part of the process, understanding the fund manager views and convictions are crucial to ensure alignment with the fund aim and risk profile.
The investment risk team is part of the firm's Risk Function and has been designed to be functionally independent from the portfolio management process, and forms part of the “second line of defence” across the firm's funds. Whilst independent by reporting line, the Investment Risk team is located physically close to the majority of fund managers which is designed to maximise the benefits of independence and good communication/interaction with the fund managers on an ongoing basis. There are strong formal oversight and escalation mechanisms in place with regular risk meetings with fund managers chaired by senior investment or risk personnel and a monthly Investment Performance and Risk Committee attended by senior investment and risk personnel.
About The Role
To monitor and analyse the risk on a variety of fixed income funds, including long short credit strategies. Ultimately the aim of the role is to ensure fund risk profiles reflect client expectations. This is achieved through working with fund managers on a regular basis to help them manage risk either through direct 1-2-1 meetings or through the oversight meetings. This will include analysing fund risk profiles, explaining risk information, pro-actively interacting with fund managers and others, dealing with queries and ad-hoc analysis requests.
There is a requirement to escalate concerns and highlight the levels/split of risk to senior management including the Head of Investment Risk. The nature of the role demands a quantitative mindset, programming ability and good knowledge of derivatives, particularly CDS and IRS.
A strong understanding of fund risks and risk systems as well as the strengths and weaknesses of them will be a significant advantage. Strong candidates will possess good communication/ interpersonal skills, a good understanding of risk models and different investment processes combined with self-sufficiency and initiative.
Main Duties and Responsibilities
- Responsibility for creation / analysis of regular risk attribution reports for assigned funds (fixed income: including developed rates, IG, HY, EM and Secured Credit) for use by the Fund Managers, Head of Investment Risk and the CRO, and other interested users of the data such as senior management, marketing, and compliance
- Work with Fund managers in regular 1-2-1 or oversight risk meetings covering all aspects of investment risk to help manage risk
- Creative approach to coming up with different ways to slice up risk or create new, insightful analysis on funds.
- Escalation of issues to Head of Investment Risk and other senior management
- Present to prospective and existing clients on investment risk, committees and boards as appropriate
- Contribution to the development of fund risk analysis
- Build and maintain relationship between the Risk team and other business support teams within the firm.
- Production of adhoc reports for the business, focused on risk issues in the prevailing markets.
- Respond to direct requests from Fund Managers and proactively interact with them
- Assist IT to develop new systems/feeds and enhance existing feeds. This may include investigating the data requirements for new instrument types, sourcing this data and testing the risk output.
- Assist the team in suggesting new analytics that will be beneficial to Fund Managers and senior management in the understanding of investment risk.
- Working closely with other members of the team, providing mentoring and technical support, as appropriate.
Technical Skills & Qualifications
- Educated to degree level or equivalent
- CFA or other professional qualification an advantage
- Technical skills:
- Strong quantitative skills
- Knowledge of derivatives (types, valuation/pricing, risks
- Knowledge of fixed income
- Knowledge of risk models and concepts such ad tracking error, VaR, and stress testing methodologies together with an appreciation of their limitations
- Working knowledge of Bloomberg, RiskMetrics, UBS Delta or similar systems beneficial.
- Advanced Excel / VBA required, knowledge of R interesting
- Team orientated
- Excellent communication skills, both written and spoken
- Ability to plan and organise workload to perform both routine and adhoc tasks
- Proactive and self sufficient
- Ability to build strong working relationships with internal clients
- Ability to work closely with external software providers as and when required
- Ability to use initiative and influence a variety of stakeholders across all levels of the business
- Excellent attention to detail
- Ability to build relationships with key personnel such as fund managers and distribution
- Ability to assimilate knowledge quickly with a desire to improve knowledge of all company products/funds
- A flexible approach with the ability to think laterally
- Excellent analytical skills, with the ability to present detailed analysis in a clear and concise manner
- High degree of numeracy