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For Companies At a Glance
- Tasks: Lead investment strategy and portfolio construction for better client outcomes.
- Company: Join Railpen, managing £34 billion in assets for the UK's rail industry pension schemes.
- Benefits: Enjoy hybrid working, 28 days leave, generous bonuses, and a lifetime pension plan.
- Why this job: Be part of a team that values integrity and community while making a real impact.
- Qualifications: Experience in multi-asset investment mandates and strong stakeholder engagement skills required.
- Other info: This role is not eligible for visa sponsorship; applicants must have UK work rights.
The predicted salary is between 54000 - 84000 £ per year.
Join to apply for the Portfolio Construction Manager role at Railpen
Join to apply for the Portfolio Construction Manager role at Railpen
Direct message the job poster from Railpen
We have a great opportunity for an Portfolio Construction Manager to join our Fiduciary Management (FM) team
on a permanent basis in our London office (hybrid based).
Who we are
Railpen is responsible for the safekeeping and investment of around £34 billion in assets and the administration of several pension schemes, including the Railways Pension Scheme, one of the UK\’s largest and longest established pension funds.
Our heritage of looking after the pension needs of the rail industry and its employees gives us our name and our unique outlook on how we serve our members. Railpen takes a holistic view, focusing on how we serve members today and how we can positively impact the communities and the world they will retire into.
To learn more about Railpen including our values, culture and purpose, visit our LinkedIn Life page here
The role
The Portfolio Construction Manager will play a key role in the development of investment strategy and portfolio construction decisions leading to better client outcomes and efficient investment implementation. This role will work with our Trustee advisory team and our in-house public markets and private markets teams to understand client requirements and to then build portfolios that meet those needs. This will include assessing portfolios on an ongoing basis to understand the impact of changing market conditions, emerging risks and market opportunities, continually looking to improve clients outcomes.
This role will require significant levels of engagement with a number of stakeholders to understand client requirements, the market environment, the characteristics of assets held by the portfolio managers (and what they bring to the total portfolio) and integration with risk and performance monitoring, ensuring the process is well-managed, robust and well-documented. The role will include leveraging an understanding of the decisions being taken by the FM business to develop communications to both internal and external stakeholders.
This role is not eligible for visa sponsorship. Applicants must have the legal right to work in the UK.
The person
The successful candidate will have demonstrable experience of designing and implementing multi-asset investment mandates and consideration of how to respond to changes in market conditions or client requirements. Previous exposure to the construction of multi-asset investment strategies, ideally covering a range of differing investor requirements is key. This should include experience with the inclusion of asset classes outside of “traditional beta” assets, such as private market investments or derivative strategies used for risk management of growth assets. The successful candidate will lead on the preparation and recommendations to feed into portfolio construction discussions, bringing an understanding of how strategies are being implemented in practice, and will ideally have experience in the development of the related decision-making framework.
The successful candidate will be adaptable to changing requirements and be keen to take ownership for projects and deliver on key objectives. You will have the ability to communicate, engage and influence stakeholders through concise and impactful language, despite complexity of the subject matter. We are looking for someone who has a deep passion for long-term multi asset investing with a continuous learning mindset. As a Portfolio Construction Manager, you will have the ability to effectively engage key stakeholders to ensure that a total portfolio perspective is embedded in Railpen’s overall investment process. You will look to support FM initiatives through collaborative research, stakeholder management, effective communication and contributing to the team’s wider business plan and culture.
Our values of integrity, community and alignment are the guiding principles that influence our behaviour. They help us make decisions and shape our relationships with others. They’re what we stand for. You will actively demonstrate our values, helping to create a safe environment, to place the needs of the community above oneself and, through a culture of ‘fair challenge’, align to the best interests of our members.
What we can offer you
Rewarding you
- 28 days annual leave plus bank holidays
- Generous annual bonus plan
- We provide membership of the Railways Pension Scheme, a Defined Benefit arrangement under which you get a pension for life and a lump sum when you retire, based on your length of service and pay
- 4x Life Assurance cover
- Employee assistance programme
- Heath cash plan
Lifestyle
- We support hybrid and flexible working along with very generous family leave including 12 months full pay maternity leave and 6 months full pay paternity leave
- Buy and sell holidays
- Give as you earn scheme
- Flexible half days leave
- Electric vehicle leasing
- Cycle to work scheme
Next Steps
Please apply for the apply button or visit Careers Pageby Thursday 4th September 2025.
Railpen is committed to creating an inclusive and diverse environment, we value diversity and welcome people from all backgrounds and walks of life
Seniority level
-
Seniority level
Not Applicable
Employment type
-
Employment type
Full-time
Job function
-
Job function
Management
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Portfolio Construction Manager employer: Railpen
Contact Detail:
Railpen Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Portfolio Construction Manager
✨Tip Number 1
Familiarise yourself with Railpen's values and mission. Understanding their commitment to integrity, community, and alignment will help you align your responses during interviews and discussions, showcasing that you are a good cultural fit.
✨Tip Number 2
Network with professionals in the fiduciary management space. Attend industry events or webinars where you can meet people who work at Railpen or similar organisations. This can provide insights into the role and potentially lead to referrals.
✨Tip Number 3
Stay updated on current market trends and investment strategies, especially in multi-asset portfolios. Being able to discuss recent developments and how they might impact portfolio construction will demonstrate your expertise and enthusiasm for the role.
✨Tip Number 4
Prepare to discuss your experience with stakeholder engagement. Think of specific examples where you've successfully communicated complex investment strategies to diverse audiences, as this is crucial for the Portfolio Construction Manager role.
We think you need these skills to ace Portfolio Construction Manager
Some tips for your application 🫡
Understand the Role: Before applying, make sure to thoroughly understand the responsibilities and requirements of the Portfolio Construction Manager position. Tailor your application to highlight relevant experience in multi-asset investment mandates and stakeholder engagement.
Highlight Relevant Experience: In your CV and cover letter, emphasise your experience with designing and implementing investment strategies, particularly those that include non-traditional asset classes. Use specific examples to demonstrate your ability to adapt to changing market conditions.
Showcase Communication Skills: Since the role requires effective communication with various stakeholders, ensure your application reflects your ability to convey complex information clearly and concisely. Consider including examples of past experiences where you successfully influenced or engaged stakeholders.
Align with Company Values: Railpen values integrity, community, and alignment. In your application, express how your personal values align with theirs and provide examples of how you've demonstrated these principles in your professional life.
How to prepare for a job interview at Railpen
✨Understand the Role and Responsibilities
Before the interview, make sure you thoroughly understand the role of a Portfolio Construction Manager. Familiarise yourself with the key responsibilities, such as developing investment strategies and engaging with stakeholders. This will help you articulate how your experience aligns with their needs.
✨Showcase Your Experience with Multi-Asset Strategies
Be prepared to discuss your previous experience in designing and implementing multi-asset investment mandates. Highlight specific examples where you've successfully navigated changing market conditions or client requirements, as this is crucial for the role.
✨Demonstrate Stakeholder Engagement Skills
Since the role involves significant engagement with various stakeholders, be ready to share examples of how you've effectively communicated and influenced others in complex situations. Use concise and impactful language to convey your points clearly.
✨Align with Company Values
Railpen values integrity, community, and alignment. During the interview, express how these values resonate with you and provide examples of how you've demonstrated them in your previous roles. This will show that you're not just a fit for the role, but also for the company culture.