ETF Portfolio Manager in London

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. Our global asset management business provides our clients and partners with complex, responsible investment solutions, working internationally across public and private markets. We are one of Europe’s largest asset managers and a major global investor across public and private markets. Asset Management is a critical driver of our Group strategy. The business aims to work synergistically with our Institutional Retirement and Retail divisions to benefit our clients and customers, and deliver enhanced shareholder returns. Our investment philosophy and processes are focused on creating value over the long term. We believe that incorporating financially material sustainability criteria, when relevant to our clients, can create value and drive positive change.

We’re looking to hire an ETF Portfolio Manager to join L&G Asset Management. In this pivotal role you’ll be responsible for day-to-day investment management duties of the ETFs, ensuring all ETFs perform in line with their investment objectives. You’ll maintain compliance with UCITS and regulatory standards and drive the development of portfolio management and operational processes. You’ll also play a key role in analysing and monitoring risk, tracking exposures of physical equity index funds and/or synthetic funds, and liaising with ETF Capital Markets, Sales, and Distribution teams where required.

Responsibilities

• Managing portfolio management of ETFs focusing on physical equity index portfolios and/or synthetic swap-based portfolios
• Monitoring exposures, tracking and risk of physical equity and/or synthetic ETFs
• Monitoring fund performance, NAV reconciliation and attribution
• Preparing rebalances calculations and providing index change analysis
• Trading underlying physical equity, swaps, execute orders and liaise with brokers
• Ensuring appropriate trade execution and settlements with Authorized Participants
• Building bespoke tools for portfolio management, including daily analysis, risk monitoring, order execution. Improving existing solutions with aims to increase reliability and scalability in response to demands of the growing platform
• Providing ad hoc support to Sales and answering specific client queries regarding Portfolio Management. Assisting Sales with RFPs and providing fund‑specific data and commentary where required

Qualifications

• Previous experience managing physical equity index portfolios and/or synthetic swap‑based portfolios
• Advanced Excel user (VBA preferred) and knowledge of Bloomberg
• Educated to degree level, Further qualifications (IMC, CFA, CAIA)
• Understanding of how indices work and are calculated
• Understanding of how ETFs are traded across the primary/secondary market
• Understanding of ETF replication models, from synthetic to physical, that support their investment objective
• Understanding of UCITS regulations and guidance notes with respect to the management of the assets of ETF funds

Benefits

• The opportunity to participate in our annual, performance‑related bonus plan and valuable share schemes
• Generous pension contribution
• Life assurance
• Healthcare Plan (permanent employees only)
• At least 25 days holiday, plus public holidays; 26 days after 2 years’ service. Option to buy and sell holiday
• Competitive family leave
• Electric car scheme offering employees the option to hire a brand‑new electric car through tax‑efficient salary sacrifice (permanent employees only)
• Discounts for our own products and at a range of high street stores and online
• We’re creating net‑zero carbon workplaces by 2030 by investing in sustainable, modern offices across the UK, designed to bring people together and elevate the in‑person experience