Head of Credit Investments

Company Description

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

As the Head of Credit, you will lead the Credit Portfolio Management team in Institutional Retirement Investments. You’ll be responsible for portfolio management of Institutional Retirement’s Credit Investments, definition of risk appetites and oversight of the mandate with Asset Management and Institutional Retirement’s asset sourcing channels across private and traded credit.

What you\’ll be doing:

• Lead and innovate in credit investments, expanding and diversifying Institutional Retirement’s portfolio.
• Be the thought leader in public and private credit investments, collaborating with Asset Management to maximise returns.
• Manage the traded and private credit portfolio, creating and overseeing risk metrics and continuously improving the investment framework.
• Handle transaction executions, ensuring smooth implementation and monitoring.
• Build strong relationships and collaborate with teams to leverage expertise and manage assets effectively.
• Steer your team with consistent policies and procedures, maximising business performance.
• Operate within mandates and risk limits, embedding Conduct Risk and Consumer Duty principles to deliver excellent customer outcomes.

Qualifications

Who we\’re looking for:

• You will need to have a degree or qualification in a quantitative discipline or equivalent. If not, you must be able to demonstrate you have similar work experience in an asset manager in traded and private credit.
• You must have an In-depth knowledge of credit markets and portfolio oversight, and a familiarity with Solvency II and Matching Adjustment requirements for the UK would be preferred.
• You\’ll need to demonstrate experience in investing traded and private assets and management of a large international credit portfolio and oversee asset management mandates.
• We require someone who is collaborative, adaptable, proactive and able to demonstrate initiative.
• Having proficiency in MS Excel; C++ knowledge is a plus.
• You’ll need to be established leader and excellent interpersonal skills to manage a variety of stakeholders as well as the ability to influence.

Whatever your role, we reward performance and behaviour with a package that looks after all the things that are important to you. Here are some of the benefits we offer:

• 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. There’s also the option to buy and sell holiday
• Competitive family leave
• Participate in our electric car scheme, which offers employees the option to hire a brand-new electric car through tax efficient salary sacrifice (permanent employees only)
• There are the many discounts we offer – both for our own products and at a range of high street stores and online
• In 2023, some of our workspaces were redesigned. Our offices are great spaces to connect and collaborate and have your wellbeing at the heart

Additional Information

At L&G, we believe it\’s possible to generate positive returns today while helping to build a better future for all.

If you join us, you’ll be part of a welcoming, inclusive culture, with opportunities to collaborate with people of diverse backgrounds, views, and experiences. Guided by leaders with integrity who care about your future and wellbeing. Empowered through initiatives which support people to develop their careers and excel.

We care passionately about outcomes rather than attendance and are therefore open to discussing all kinds of flexible working options including part-time, term-time and job shares. Although some roles have limited flexibility due to customer demand, we accommodate requests when we can.

It doesn’t matter if you don’t meet every single criterion in this advert. Instead, think about what you excel at and what else you can bring in terms of strengths, potential and connection to our purpose.

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