Job Description
Within RBS a new investment function has been set up to manage two significant and distinct collections of assets- The first is within RBS insurance, the second is in relation to a number of defined benefit and defined contribution pension schemes- Insurance: The nature of RBS Insurance business requires funds derived from premiums to be invested pending future claims payments- This investment portfolio currently amounts to around £10bn- The majority of this money is invested in short duration fixed interest securities- We are looking for an individual with portfolio management experience to oversee the management and strategy of this portfolio- The EU have directed RBS to divest its' insurance business in the next 4 years- This presents an opportunity for the right candidate to be closely involved with the divestment process- Pension Funds: The largest of these, The Royal Bank of Scotland Pension fund, has assets under management of over £15bn- It is split between bonds, equities and alternative assets- The investment management of these assets is delegated to external fund managers- The internal investment function is there to assist the investment committee with asset allocation, asset liability matching and manager selection and monitoring- The candidate would be expected to help the Chief Investment Officer determine tactical asset allocation, be involved in hedging and SWAPs management and help with the monitoring of external bond managers-
Requirements
Experience: . The candidate should be CFA qualified or equivalent-
. The candidate should have a proven track record in managing fixed interest portfolios, preferably global including government and corporate bonds-
. Experience of managing a cash portfolio would be beneficial-
. The candidate may have been a member of an asset allocation committee, or managed an absolute return fund-
. Knowledge of asset liability modelling and SWAPs would be of benefit-
. Evidence of good communication skills and successful client relationships will be needed- Technical Knowledge:
. Strong analytical and quantitative skills
. High computer literacy
Responsibilities
. To monitor opportunities in global bond markets for the benefit of the insurance and pension assets-
. To work with the insurance board and the CIO to set investment strategy for the insurance assets, in the context of overall risk and return, allowing for regulatory capital issues- . To oversee the management of the fixed interest portfolio of the insurance assets- . To help the pension fund in it's' management of SWAPs and hedging strategies- . To assist the trustees and CIO in setting asset allocation for the Pension scheme- To monitor new asset class opportunities for the insurance and pension assets- . With the investment team, to monitor the external bond managers and recommend new managers and managers to be terminated-
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