Skip to main content

This job has expired

Assistant Director - Investment Strategy

Employer
City of Wolverhampton Council
Location
Wolverhampton
Salary
£101,074 - £121,753
Closing date
31 Aug 2022
Reference
WLV000004448

View more

Sector
Local Councils
Job Type
Asset management
Contract Type
Full time permanent
Working Pattern
See advert details
Hours
Full-Time

Job Details

Assistant Director – Investment Strategy

Salary: £101,074 - £121,753

This is a rare opportunity to join one of the largest and most progressive pension funds in the UK at an exciting time in its development. You will be responsible for leading on all aspects of the Fund’s investment strategy in an interesting and rewarding role which provides   an opportunity to excel and truly stand out, delivering excellence through application of your expertise and collaborative leadership.

The West Midlands Pension Fund

The West Midlands Pension Fund provides Local Government Pension Scheme services to over 330,000 members and more than 800 employers across the West Midlands region. It is one of the largest Local Government Pension Funds in England and Wales, employing 180 FTE members of staff and as at 31 March 2022, the Fund was valued at £20.6 billion.

As Fund assets grow and global economic conditions and investment opportunities change, continuing to develop and deliver the Fund’s investment strategy plays a key role in ensuring we generate the returns needed to pay pensions to our members over decades to come.  We are seeking an experienced investment professional to take the unique role of Assistant Director – Investment Strategy, working across the Fund’s asset base to review and develop strategic asset allocation and ensure implementation and oversight aligned to the Fund’s investment beliefs and responsible investment framework. .  West Midlands Pension Fund is committed to working in partnership to create sustainable futures for all – highlighted by the Fund’s Net Zero commitment and established stewardship programme, with the Fund being in the first cohort of UK asset owners to achieve signatory status to the UK Stewardship Code 2020.  We invite you to be part of an a growing organisation that delivers for local people.

The Role

You will lead on the development and implementation of investment strategy for the West Midlands Pension Fund (c£20bn), including portfolio management, mandate design and review, risk management and reporting.

You will be responsible for supporting policy, procedure, obtaining specialist advice and overseeing the utilisation of systems and analysis tools to generate portfolio management information to support effective investment decision making.  You will work closely with the Assistant Director - Investment Management and Stewardship to deliver portfolio monitoring and oversight across the asset base, develop the investment team and ensure responsible investment beliefs and our pledge on climate change is integrated and aligned throughout the investment chain.

You’ll have responsibility for the management of a specialist investment team with responsibility for asset allocation, strategy development and review, portfolio monitoring, oversight and reporting across all invested assets and asset classes, including those managed through the investment pool LGPS Central and through external management arrangements.

You will lead the Fund’s Internal Investment Committee and play a key role in both forming recommendations and decision making as part of the Fund’s Senior Management Team.

The areas of work covered include:

  • To actively contribute to the development of the Fund as an organisation, its investment and funding strategy and engage with leading industry professionals through membership and input to the Fund’s Senior Management Team, Investment Committee and Investment Advisory Panel.
  • To appraise investment opportunities and undertake due diligence on new investments, preparation and review of reports and recommendations.
  • To participate and contribute to debate as a member of the Fund’s Investment Committee and the Investment Advisory Panel and routinely report and present to the Fund’s Governing Bodies and Pensions Committee who determine and oversee the implementation of the Fund’s Investment Strategy Statement and supporting policy framework.
  • Responsible for the management of a wide range of investment portfolios, including portfolio construction and the monitoring of both performance and risk
  • Accountable as relevant and within delegated authority for internally and externally managed portfolios; contributing to investment decisions of the Fund’s Investment Committee, recommending investment management appointments and terminations, monitoring managers and strategy performance, analysing and reporting on investment returns against performance objectives; ensuring compliance with all relevant regulations and legislation.
  • Input to strategic asset allocation, informed by investment knowledge, portfolio positioning, integrating responsible investment principles; an appreciation of pension liabilities and a knowledge of macro-economic theory, conscious of history and potential future scenarios;
  • Managing and overseeing a range of asset classes, including: UK, Global, Emerging Market, active and passive listed equity; portfolio of private equity; direct and indirect infrastructure investments; direct and indirect property; debt including bonds, gilts, treasuries, multi-asset credit. emerging market debt and private credit;
  • Manage a team of 10 covering all aspects of portfolio management and reporting
  • Day to day implementation of investment decisions and risk management
  • Working closely with the Fund finance and compliance functions team to ensure appropriate liquidity and cashflow management, developing policy and internal controls to mitigate operational risks
  • Assume responsibility for a number of complex asset classes and provide support, guidance and mentoring to others on the investment tea

You’ll be financially astute, driven and politically sensitive, you’ll have the credibility and communication skills to excel with our workforce and partners, to ensure that all West Midlands authorities are able to benefit from your contribution to the Fund.

If you have a track record of achievement and innovative working in investment management or consultancy, inside or outside the public sector, enjoy working across asset classes, in a role focused on building sustainable long term business and investment strategy and are interested in taking the opportunity to move to  a unique in-house role, we look forward to hearing from you.

For enquires and informal discussion, please sent your CV to WMPFrecruitment@wolverhampton.gov.uk

Requirements

To succeed in this role you will have

  • Relevant professional (investment) qualification (CFA / IFoA)
  • Experience and knowledge across a wide variety of asset classes and investment products
  • Strong understanding of investment governance, fund management arrangements, financial and performance reporting requirements
  • Experience in reporting to and participating within investment committees
  • Evidence of engaging and managing a wide range of stakeholders, high level of self and political awareness
  • Developed principles on responsible investment and investment governance
  • Strong verbal and written communication skills, able to articulate and navigate complex issues to a variety of audience
  • Knowledge and experience of working with FCA-regulated entities and Partnership structures
  • Experience in policy development and appraisal
  • Strong reasoning, challenge and influence skills
  • Ability to work with and manage teams (direct and matrix)

Working at WMPF

We are growing organisation, engaging with and adapting to an evolving pension and regulatory environment.  We believe in investing in our people, developing talent and are committed to delivering value for money services for our members and employers within the West Midlands region.  Further information on our vision, values and ambition are set out in our Corporate Plan 2022 - 2027 .

We offer flexible working hours; generous holiday and all employees have access to the defined benefit pension saving, available within the Local Government Pension Scheme.

How to apply: To express your interest in joining our team, please submit your CV and covering letter to WMPFrecruitment@wolverhampton.gov.uk or use the application form available through our recruitment page.

Our closing date for applications is 31 August.  We look forward to hearing from you.

Fund statement on diversity and inclusion

We are an equal opportunities employer providing an open and inclusive environment for all employees to develop and succeed.  As a member of the Employers Network for Equality and Inclusion (ENEI) we aim to:

  1. ensure colleagues feel they are treated equally and fair regardless of age, disability, race, religion, gender and sexual orientation
  2. develop our approach to building a more diverse and inclusive workforce which allows us to develop experiences and viewpoints to see new perspectives and create solutions to business challenges

We are independent accredited by Investors in People and were re-accredited Gold Standard in 2020.

Supporting documents
JD AD Investment Strategy .pdf

Company

Bingley Hub

From Monday 11th December 2023 an exciting change is happening for us as an organisation - we are implementing a new system which will improve your candidate experience! To access your candidate portal for our new system, head to https://wolverhampton.wm-jobs.co.uk/members/.

If you already have an application in progress with us before the new year, don’t worry, this will continue as it normally would and there will be no impact on your application or the process. More information on our new and improved system can be found on the WMJobs help pages

City of Wolverhampton

There’s never been a better time to join the award winning City of Wolverhampton Council to further your career. We are a progressive and future facing organisation, and passionate about making our city better for all who live, work and travel here.

We are an ambitious organisation focused on delivering the best services for people in Wolverhampton; working for us gives you the opportunity to make a difference to their lives.

Our continual drive for improvement led to us winning APSE Overall Council of the Year Service Delivery Award, also achieving Annual Service Award Finalists for our services in Waste and Recycling; Public Protection; Best Housing Regeneration and Homelessness multi-agency work, showing that the City of Wolverhampton Council is truly an organisation striving for daily excellence in all we do.

Equal Opportunities

The City of Wolverhampton Council employs over 5,000 people in more than 600 different trades and professions. We are committed to representing Wolverhampton’s diverse community and therefore strongly encourage applications from all applicants meeting the essential criteria.  The council operate a guaranteed interview policy for veterans who have served in the military, those who have previously been under our care and are under the age of 25 and disabled candidates, where it is evidenced that the essential criteria of the post is met.

A Great City to Live and Work

The city has seen rapid developments with major projects like the i54, Way Youth Zone and i10 and more exciting developments are planned for the westside of the city. The leisure-led mixed user scheme includes a multi-screen cinema, restaurants, bars, hotel, multi-storey car park and apartments, all accessible by foot from our city centre.

We benefit from being in a prime location, with excellent transport links at the heart of the UK’s high speed rail and motorway networks, making us an employer of choice for people across the West Midlands.

Wolverhampton is rated as one of the top cities in the UK for families. Almost 90 per cent of the city’s primary and secondary schools are rated as ‘good’ or ‘outstanding’ by Ofsted. The City also offers a wide range of family friendly facilities with stunning parks and green spaces and top entertainment attractions such as Wolverhampton Art Gallery, the Civic and Wulfrun Halls and the Grand Theatre all of which attract top acts such as Jimmy Carr, Gary Barlow, World Darts Competition, upcoming bands and West End productions.

Pic2-3Pic4

Why Work for City of Wolverhampton Council?

We invest heavily in skills and training for our employees; you will develop and grow with us through your time, benefiting from regular professional development conversations, and varied training opportunities.

We offer a wide range of benefits including competitive salaries that progress within different grades for the variety of jobs on offer. The majority of our positions offer a generous annual leave entitlement of 25 days - this increases with length of service. There is also an added option to buy up to 10 days additional leave in each leave year. New entrants also benefit from 8 days bank holiday entitlement (basic leave entitlement of 33 days).

The council offers an excellent Local Government Pension Scheme (LGPS) with employee and employer contributions based on salary grades and other benefits including:

  • Index linked pension
  • Option to convert your pension for tax-free cash when you retire
  • Retirement on the grounds of ill-health at any age.

The council also offers a wide range of flexible working options to fit in around your commitments including:

  • Flexi-time
  • Reduced hours working
  • Job share
  • Homeworking
  • Term time only

Other rewards

  • Discounted city parking at a number of sites with reduced charges for blue badge holders
  • Annual Travel Card Scheme
  • Salary Sacrifice scheme for cars - with a wide range of ‘green’ vehicles, cycles and associated equipment, personal IT equipment and smartphones
  • Retail, leisure, legal and ethical savings and loans through our competitive rewards portal

City of Wolverhampton Banner

 

Company info
Website
Telephone
01902 552345
Location
City of Wolverhampton Council
Civic Centre
St. Peter's Square
Wolverhampton
West Midlands
WV1 1HE
United Kingdom

Get job alerts

Create a job alert and receive personalised job recommendations straight to your inbox.

Create alert