Director of Responsible Investment and Engagement

Expiring today

Recruiter
LGPS Central Limited
Location
Wolverhampton, United Kingdom
Salary
Competitive salary & package
Posted
26 Sep 2020
Closes
25 Oct 2020
Ref
8145879
Job Function
Banking
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
About the role

The Investment Director of Responsible Investment and Engagement will work closely with the CIO, investment team and the wider LGPS Central business to manage, build on and further develop the existing responsible investment and engagement function.

You will influence the investor style and culture of the Central Pool through the development, implementation and maintenance of a distinctive "Responsible Investment and Engagement Policy", the integration of RI&E into all investment activities at LGPS Central and the ongoing development and management of specific RI&E related investment products/services .

You will manage a policy and engagement team to ensure that the Pool's capability and skill base is sufficient to deliver the Policy and products/services, and to meet the objectives of the Partner Funds.

You will also support the CEO, CIO and Investor Relations function on communications with the Partner Funds and represent the Pool externally on investor responsibility and engagement policy matters.

The role will require you to support the Chief Investment Officer and will include, but not be limited to:
  • Develop, deliver and maintain the Pool's "Responsible Investment and Engagement Policy" ("RIEP").
  • Work with the CIO and Investment Directors to integrate the RIEP into the investment process for all asset classes and investment portfolios
  • Monitor within asset classes the financial value added by adoption of the RIEP
  • Develop an engagement strategy and rolling enablement programme to ensure that all the Pool's portfolio managers are aware of ESG issues
  • Manage the effective delivery of current RI&E services to Partner Funds Clients and the development of new investment products/services to suit anticipated/evolving Partner Fund needs
  • Be the "Responsible Investment and Engagement" ambassador for LGPS Central within the investment community, Partner Funds and with regulators, government and key stakeholders in the UK and internationally.
  • Be a member of the Investment Committee, oversee and advise on investor responsibility and engagement issues in relation to all asset classes and investment portfolios, and give relevant input to the investment strategy of the Pool.

The Investment Director of Responsible Investment and Engagement must be able to evidence:
  • Significant experience of investor responsibility and engagement at a senior level as a portfolio manager, policy maker or influencer, preferably in an asset manager or other financial institution
  • Ability to integrate responsible investing principles with practical investment functions and policies
  • Can objectively evaluate ESG and specifically, climate risk of investment portfolios and investment processes.
  • Experience identifying and mitigating ESG risk in internal and external investment portfolios across multiple asset classes
  • Experience of engaging with companies and third-party managers directly, and of working collaboratively with other funds, government, government agencies and campaign groups
  • Established relationships with key RI/ESG service providers
  • Has successfully built, run and developed high performing teams
  • Excellent judgement and analytical skills

We are a diverse, flexible and inclusive employer and would welcome interest from all sections of the community.

If you are interested in applying for this role, please forward your CV with a covering letter to recruitment@lgpscentral.co.uk quoting reference DRIE, highlighting your key strengths and experience in relation to the job profile.

About LGPS Central Limited

LGPS Central Limited is a fund management company, regulated by the Financial Conduct Authority (FCA), managing the pooled assets of nine Midlands-based local government pension funds.

With combined assets of approximately £45bn, and representing the retirement savings of over 900,000 scheme members across over 2000 employers, LGPS Central Limited's Partner Funds are;

Cheshire Pension Fund, Derbyshire Pension Fund, Leicestershire Pension Fund, Nottinghamshire Pension Fund, Shropshire Pension Fund, Staffordshire Pension Fund, West Midlands Pension Fund, West Midlands Integrated Transport Authority Pension Fund, and Worcestershire Pension Fund.

Since its launch in April 2018, LGPSC has become responsible for around £20bn of these assets. Around £10bn is held in funds structured in an Authorised Contractual Scheme (ACS, itself authorised by the FCA) and around £10bn in a range of advisory and discretionary mandates. The volume of assets under management is expected to grow rapidly over the next few years as, in partnership with our Partner Funds, new sub-funds are developed and launched into which Partner Funds' assets will transition. A range of further sub-fund launches are planned for this financial year across a range of asset classes.

LGPS Central Limited is owned equally by eight of the nine pension funds and is dedicated to the management of local government pension assets. The aim of the Company is to use the combined buying power of its Partner Funds to reduce costs, improve investment returns and widen the range of available asset classes for investment - all for the benefit of local government pensioners, employees and employers. We are also committed to fully integrating Responsible Investment and Engagement into all our investment processes.

The management of Local Government Pension Scheme funds is going through significant change, providing career-changing opportunities for those who have the relevant investment experience and who want to work within a company which values integrity, trust, transparency, diversity, fairness and partnership. LGPS Central Limited aims to be a centre of excellence and we seek candidates who share our values to help us achieve that goal.

Our objective is to be a leading investment management company working with and for our Partner Funds. With a focus on value for money and performance we want to aspire to be one of the best because this is how we will deliver the superior investment returns and low costs for our Partner Funds.

Role

Outcomes:

The Investment Director of Responsible Investment and Engagement will work closely with the CIO, investment team and the wider LGPS Central business to manage, build on and further develop the existing responsible investment and engagement function.

The ID Responsible Investment and Engagement will influence the investor style and culture of the Central Pool through the development, implementation and maintenance of a distinctive "Responsible Investment and Engagement Policy", the integration of RI&E into all investment activities at LGPS Central and the ongoing development and management of specific RI&E related investment products/services . You will manage a policy and engagement team to ensure that the Pool's capability and skill base is sufficient to deliver the Policy and products/services, and to meet the objectives of the Partner Funds. You will also support the CEO, CIO and Investor Relations function on communications with the Partner Funds and represent the Pool externally on investor responsibility and engagement policy matters.

Financial
  • Delegated budgets as appropriate

Non-Financial
  • Performance - KPIs
  • Health and Safety
  • Team Management

Delegated Authority Levels: Management of RI&E team [currently 3 members]

Reports to CIO

Relationships Internal:
  • Executive Directors/ Board/NEDS/Heads/managers/ staff

Relationships External:
  • Partner Fund Clients/Shareholders
  • Other LGPS pool companies
  • Government
  • Investment industry RI&E shareholder bodies
  • Media (working with LGPSC communications team)

Need to do
  • Develop, deliver and maintain the Pool's "Responsible Investment and Engagement Policy" ("RIEP").
  • Work with the CIO and Investment Directors to integrate the RIEP into the investment process for all asset classes and investment portfolios, monitoring in each case the financial value added by adoption of the RIEP.
  • Develop an engagement strategy and rolling enablement programme to ensure that all the Pool's portfolio managers are aware of ESG issues with investments, and can influence company boards, third party managers or funds effectively (with necessary support from the policy and engagement team).
  • Managing the effective delivery of current RI&E services to Partner Funds Clients and the development of new investment products/services to suit anticipated/evolving Partner Fund needs
  • Be the "Responsible Investment and Engagement" ambassador for LGPS Central within the investment community, Partner Funds and with regulators, government and key stakeholders in the UK and internationally.
  • As a member of the Investment Committee, oversee and advise on investor responsibility and engagement issues in relation to all asset classes and investment portfolios, and give relevant input to the investment strategy of the Pool.
  • Provide assurance that portfolios are managed within the RIEP parameters set in the Prospectus and the IMA.
  • Working with the CRCO, ensure that RIEP is always consistent with the Risk and Compliance Framework.
  • Support the ID Manager of Managers to develop the "External Manager of Managers Process" and then ensure that it is applied across all external portfolios.
  • Embed a culture of high performing, collaborative, research based and responsible investing across LGPS Central.
  • Line management and personal development responsibility for the Responsible Investment and Engagement team.
  • Promoting the values of LGPS Central and proactive compliance with our regulatory obligations

Need to know

Skills/Knowledge/Experience/Competence:
  • Significant experience of investor responsibility and engagement at a senior level as a portfolio manager, policy maker or influencer, preferably in an asset manager or other financial institution.
  • Demonstrates and can articulate investment, policy making and public influencing skills.
  • Ability to integrate responsible investing principles with practical investment functions and policies.
  • Can objectively evaluate ESG and specifically, climate risk of investment portfolios and investment processes.
  • Experience identifying and mitigating ESG risk in internal and external investment portfolios across multiple asset classes.
  • Experience of engaging with companies and third-party managers directly, and of working collaboratively with other funds, government, government agencies and campaign groups.
  • Established relationships with key RI/ESG service providers.
  • Has successfully built, run and developed high performing teams.
  • High degree of professional ethics, integrity and gravitas.
  • Excellent judgement and analytical skills.
  • First class interpersonal, people management and communication skills.

Qualifications
  • Degree level or equivalent
  • CFA (or working towards) or equivalent qualification / relevant responsible investment experience.

Values and Behaviours

Values:
  • Clients focus
  • Supportive workplace
  • Integrity
  • Togetherness
  • Outward focus

Behaviours:
  • Open, fair and transparent
  • Honest and trustworthy
  • Empowered in making right decisions
  • Accountability for results and delivery
  • Collaboration