Manager - Employer Covenant Advisor

Pensions employer covenant advisory is a challenging and fast-growing area. Isio’s Covenant Solutions team assess the financial strength and commercial outlook of sponsors of defined benefit pensions schemes, to understand the cash flows and assets available to support funding of pension liabilities. This includes advising on covenant mitigation solutions where there are corporate events such as M&A, refinancing or restructuring.

Isio is looking for a qualified accountant with employer covenant advisory experience and/or a transaction/restructuring advisory background, to join our team in advising clients and supporting our growth plans.

What does the role entail? This role provides the opportunity to build a portfolio of corporate and trustee advisory clients as well as advise in M&A/transaction, run-on and superfund transaction situations. The role will involve working on some of the most complex transactions and challenging pensions issues businesses and trustees face, and work alongside a range of Isio specialists in actuarial and investment services to provide integrated solutions to support pensions strategy.

The candidate will have employer covenant expertise and/or transactions/restructuring advisory experience. This will include experience of preparing insolvency estimated outcome statements for the purposes of assessing potential returns to creditors/pension schemes.

Day to day your role will include:

• Building and managing a portfolio of pension trustee advisory clients, providing advice on their employer covenant assessments and integrated risk management framework;
• Performing and reviewing financial and commercial analysis for employer covenant assessments, including coaching and development of junior team members;
• Assessing the impact of a corporate activity such as a transaction, restructuring or refinancing on the employer covenant provided to pension schemes;
• Advising on solutions to mitigate changes in the employer covenant security provided to pension schemes;
• Advising corporate sponsors of pension schemes in negotiations with trustees over employer covenant and mitigation/financial support options;
• Supporting external marketing initiatives to support Isio’s growth ambitions.

What we’re looking for:

• Qualified ACA/CA/ACCA accountant with clear evidence of relevant post-qualified experience;
• Proven employer covenant and/or transaction/restructuring advisory experience;
• Commercial awareness and a general interest in how businesses work;
• Experience of insolvency analysis/recoveries e.g. preparing Entity Priority Models and Estimated Outcome Statements in order to advise clients of the implication;
• Excellent report writing, financial analysis, client and project management skills;
• Ability to research and report on clients, industries, the wider market/economy and ESG risks; develop marketing collateral and initiatives; and build, manage and leverage client relationships in order to originate work and support sales;
• Experience using AI and data analysis tools to improve efficiency in research and reporting;
• An enthusiasm for and genuine commitment to business development and supporting market initiatives.

Where is the role? Our ideal applicant would work alongside our existing team in either Manchester, Edinburgh or London. However, we can offer suitable applicants the opportunity to work from our other Isio offices. We work on a hybrid basis, offering the opportunity for colleagues to split their working time between working in the office and at home.

Isio Group is an equal opportunities employer, and we welcome applications from all suitably qualified candidates. If you think you may require a reasonable adjustment to be made for any reason at any stage of your recruitment process, please ask us hrrecruitment@isio.com.