Head of Fixed Income in Wolverhampton

Join LGPS Central at an important stage in our growth as we continue to strengthen our investment platform in line with the government’s Fit for the Future agenda. We are strengthening our investment leadership as part of a wider reorganisation of our investment functions and are recruiting a Head of Fixed Income. This senior role will set the strategic direction for Fixed Income, continue to develop a high-performing team, and ensure our portfolios deliver strong, sustainable outcomes for Partner Funds. You will help shape investment culture, portfolio construction, and responsible investment integration.

What you'll be doing:

• Lead the Fixed Income offering and ensure that it is fit for purpose.
• Periodically review the range of FI assets offered and produce business cases for change where appropriate.
• Drive forward the performance of the FI offering.
• Periodically review the insourcing/outsourcing of FI assets.
• Deliver the shared objectives of LGPS Central Limited and our partner funds focused on improving risk adjusted return after cost and the launch of pooled sub-funds.
• Managing and improving investment capability and skills of the Fixed Income Markets team.
• Integrate and maintain the house view on Responsible Investment into the investment process and culture.
• Be an ambassador for LGPS Central Limited within the investment community, partner funds, and with regulators and key stakeholders.
• A member of the Investment Committee (IC) approving recommendations for new products, product changes and retiring of our offering across all asset classes.
• Provide assurance that portfolios are managed within the parameters set in the Prospectus/ Segregated mandates.
• In conjunction with the CIO, and other “Heads of” and Investment Directors, devise and deliver a transparent and repeatable investment process that follows the LGPS Central Limited policies.
• Working with the CIO to support the relevant aspects of the business strategy.
• Implement and manage risk and compliance in accordance with the Risk and Compliance Framework in collaboration with the Chief Compliance, Legal Risk and Governance Officer.
• Embed a culture of high performing, collaborative, research-based investing across LGPS Central Limited.
• Embarking on an appropriate first line of defence control framework within the Investment Team.
• Overseeing and managing the existing and new Fixed Income portfolios working with the Investment Directors, Senior Portfolio Managers, Portfolio Managers and others.
• Responsibility for origination, analysis, due diligence (both on and off-site), legal review and negotiation (working with internal and external counsel), execution, and post-execution active monitoring and management of ACS and Segregated Fund Investments.
• Working with the Finance and Operations teams to ensure Capital and Expense Calls, Distributions, and Investment/Fund related expenses are efficiently processed.
• Review and analysis of ESG risks for any ACS and Segregated Fixed Income Market Funds.
• As a team, actively monitor, manage, and advise on the Fixed Income market portfolios of Partner Funds.
• This includes advising on possible consolidations, secondary sales, attending External Manager meetings, Annual Investors Meetings, and ad-hoc calls/meetings with External Managers.
• Representing the LGPS Central Pool portfolio interests on investor advisory boards of External Funds.
• Lead on the development and launch of future LGPS Central Fixed Income Markets Funds. Tasks include negotiation of requirements with investors, specification of mandates, business case development, legal set up, IT systems and controls.

About Us

LGPS Central (LGPSC) Ltd is the FCA regulated asset manager for eight local authority pension funds across the Midlands. LGPSC is jointly owned on an equal shares basis by those Partner Fund, and it is responsible for managing £45bn+ of their assets. It is one of eight Local Government Pension Scheme (LGPS) asset pools in the UK. The Company is committed to responsible investment and has made responsible investment a core part of the investment process in every asset class. LGPS Central offers a friendly and diverse, hybrid working environment with a range of employee benefits. The Company moved to new premises at i9, Wolverhampton Interchange in January 2022, close to local transport links. Our objective is to be a leading investment management company working with and for our Partner Funds. With a focus on value for money and performance we want to aspire to one of the best because this is how we will deliver the superior investment returns and low costs for our Partner Funds.

Requirements

• Significant experience of investment decision making in Fixed Income Markets.
• Significant experience of insourcing the management of FI assets, across a range of FI assets.
• Demonstrates portfolio construction and investment selection skills.
• Experience of management and oversight of investment portfolios.
• Has run and developed high performing teams.
• High degree of professional ethics, integrity and gravitas.
• Excellent judgement and analytical skills.
• First class interpersonal, people management and communication skills.
• Well-developed relationship partnering skills, including building and demonstrating personal credibility.
• Inspirational in their leadership of the broader team.
• Ability to reflect on feedback and support continuous improvement and thought leadership.
• Ability and confidence to draw out and effectively manage conflict/challenge.
• Substantial relevant experience of collaborative investment decision making and portfolio management at a senior level.
• Can evaluate performance and risk of investment portfolios objectively.
• Experience of management and oversight of internal and external investment portfolios across multiple asset classes.

Qualifications

• Preferably degree level or equivalent in relevant discipline.
• Has or can meet all the requirements of being an FCA approved person.

What do we offer?

We are proud to provide our people with a premium and exclusive benefits package and we are continually improving the rewards we offer. Here are a few of the valuable rewards that you will enjoy:

• An enhanced and generous Pension Scheme.
• An extra paid Company Day in addition to paid holidays.
• Welfare and Family friendly policies.
• Enhanced pay for new parents.
• Access to our Employee Assistance Programme 247 Health & Wellbeing Support.
• Vitality Private Medical Insurance.
• Hybrid Working.
• Company Service Awards.
• Cycle to Work Scheme.
• Company Electric Vehicle Scheme.

Nominees of the Family Friendly Employer of the Year 2022 Personnel Today Awards 2022 Winner of the Cultural Awareness Initiative of the Year FT Advisors Diversity in Finance Awards 2023 Winner of Diversity and Inclusion Award LAPF In Investments Award 2023.

Seniority level: Executive

Employment type: Full-time

Job function: Finance Investment Management and Pension Funds