Portfolio Manager

The Macro Markets team within Phoenix Asset Management (AM) is responsible for the interest rate, inflation and foreign exchange risks on Phoenix's shareholder balance sheet with the expectation to extend activities beyond shareholder. Asset classes cover government bonds and derivatives in GBP and non-GBP. There is a focus on Solvency II driven investment, hedging strategies, portfolio management and implementing derivatives and liquidity solutions.

The team is also responsible for supporting Bulk Purchase Annuity (BPA) origination and facilitating liquid credit trading and illiquid credit investments.

The Role

This a key, new role in the team, responsible for portfolio management within the team's broad mandate, with a focus on both the in-force balance sheet and the front-book (new BPA/Asset transactions).,

• Support the Head of Macro Markets in portfolio management activities with ownership of delegated responsibilities.


• Active portfolio and hedge management of the in-force balance sheet particularly from a Solvency II context.


• Support the securing of BPA transactions and playing a leading role in deal implementation.


• Covering a broad subset of the market across GBP, USD, EUR & others with a focus on rates, inflation and FX.


• End to end transaction or investment implementation across design, securing internal buy-in, negotiation and execution in the market.


• Collaborating with other teams in Asset Management and the larger organization in order to achieve business objectives.


• Maintaining strong relationships with Phoenix's key broker-dealer counterparties.


• Managing asset management partners on activities that are executed externally.


People Management

• Manage 0-2 direct employees to deliver the agreed objectives, as well as individual performance and career development.


Relationship Management

• Internal - Investment Committees, Senior Management, Other Asset Management Teams, Phoenix Functions (e.g. Investor Relations and/or Finance) External - Bank Counterparties and Asset Management partners


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  In-depth knowledge of fixed income and derivatives products and markets.


• Strong portfolio and dynamic risk management mindset.


• Knowledge of insurance balance sheets from an investment point of view.


• Commercial and transactional skills including market negotiation and execution.


• Good analytical and numerical skills.


• Ability to assign priorities to multiple activities while ensuring integrity, accuracy, and timeliness.


• Ability to synthesize insights and work through others to do so.


• Strong communication skills - ability to communicate complex issues in a clear and concise fashion.


• Ability to peer review and provide feedback and alternative views. Python or other coding experience is desirable.


• , Experienced portfolio manager with track record of managing risk and delivering performance.


• Proven strong analytical skills and research capabilities acquired e.g. working for an insurance company, asset management firm and/or investment bank.


• Proven competence in contributing to the management of a fixed-income and derivatives investment portfolio acquired e.g. working at an insurer, asset management firm or investment bank.


• Direct execution of transactions with counterparties.


• Proven ability in and enthusiasm for working and communicating effectively with various internal and external stakeholders.


Qualifications
Bachelor's degree.

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  We want to hire the whole version of you.
  
  We are committed to ensuring that everyone feels accepted and welcome applicants from all backgrounds. If your experience looks different from what we've advertised and you believe that you can bring value to the role, we'd love to hear from you.
  
  We want to be the best place that any of our 7,800 colleagues have ever worked.
  
  We're the UK's largest long-term savings and retirement business. We offer a range of products across our market-leading brands, Standard Life, SunLife, Phoenix Life and ReAssure. Around 1 in 5 people in the UK has a pension with us. We're a FTSE 100 organisation that is tackling key issues such as transitioning our portfolio to net zero by 2050, and we're not done yet.
  
  Salary & Benefits: £120,000 - £185,000 (variable level, subject to experience) + asset management bonus, excellent pension scheme, private medical insurance, electric vehicle scheme, 38 days holiday incl. Bank Holidays, plus 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more!