Associate ALM Analyst in London

You will be joining the Outsourced Chief Investment Officer function within our Insurance Capital Solutions team, which is responsible for managing the investment portfolio of Macquarie’s asset intensive Bermudian reinsurer, InEvo Re. Supporting an investment portfolio across both public and private assets, the team oversees InEvo’s deployment into new investments; manages InEvo’s risk, liquidity and ALM strategy; partners with teams across Macquarie to establish new investment capabilities; and works with InEvo to negotiate investment guidelines and support on the pricing of new reinsurance transactions.

Joining as an Associate, your role will focus on hedging and portfolio management of InEvo’s liability block, new deals, liquidity, and its associated reporting. You will manage the portfolio backing the current liability block, managing interest rate, FX and inflation exposure; construct hedges for private assets into the fixed cashflows of the liability currency and for new business; and rebalance the book for market moves. You will also originate trades, working with our Fixed Income team to optimise the current back book and explore new trade ideas. In tandem with these responsibilities, you will run the balance sheet model and own regulatory reporting, responding to data requests from InEvo and taking ownership of the report, including introducing new metrics, automation and streamlining processes. You will also manage bank counterparty relationships, including setting up new lines with bank counterparties and managing day-to-day queries.

What you offer

• 2+ years’ experience in ALM, LDI, insurance asset management, or transferable experience in sales, trading or structuring
• Knowledge of interest rate, cross-currency and inflation swaps, as well as risk measures such as duration, convexity and cashflows
• Proficiency with Excel. Experience with Python, VBA or Bloomberg is advantageous, as is exposure to insurance or reinsurance focused investment strategies, especially liability-driven investing, and portfolios subject to BMA or Solvency II type capital frameworks
• Progress towards a CFA, FRM or actuarial qualification and familiarity with ISDA/CSA documentation and collateral or margin processes would also be beneficial
• Highly analytical, organised, proactive, responsive, reliable and independent, with great communication and stakeholder management skills, attention to detail and sound judgement

What we offer

• 1 wellbeing leave day per year and a minimum of 25 days of annual leave.
• 26 weeks’ paid parental leave for primary caregivers along with 12 days of paid transition leave upon return to work and 6 weeks’ paid leave for secondary caregivers
• Paid fertility leave for those undergoing or supporting fertility treatment
• 2 days of paid volunteer leave and donation matching
• Access to a wide range of salary sacrificing options
• Benefits and initiatives to support your physical, mental and financial wellbeing including, comprehensive medical and life insurance cover
• Access to our Employee Assistance Program, a robust behavioural health network with counselling and coaching services
• Access to a wide range of learning and development opportunities, including reimbursement for professional membership or subscription
• Access to company funded emergency and backup dependent care services
• Recognition and service awards
• Hybrid and flexible working arrangements, dependent on role
• Reimbursement for work from home equipment

Macquarie Asset Management (MAM) is a leading global asset manager, trusted by institutions, individuals and communities to responsibly manage assets on their behalf. MAM provides clients with a diverse range of investment solutions that seek to deliver superior risk-adjusted returns.

Inclusion at Macquarie

We are committed to providing an inclusive environment for all, where different experiences, skills and perspectives are valued and respected. Macquarie provides access to opportunities for all individuals regardless of their identity, including age, disability, neurodiversity, gender (including gender identity or expression), sexual orientation, marriage or civil partnership, pregnancy, parental status, race (including ethnic or national origin), religion or belief, or socio-economic background. We provide reasonable adjustments to individuals who may need support during the recruitment process and employment. If you require an adjustment, please let us know during the application process.