Head of Public Fixed Income Risk

M&G plc.
London, United Kingdom
07 Oct 2021
20 Oct 2021
Job Function
Risk Management
Industry Sector
Finance - General
Employment Type
Full Time
At M&G our vision is: to become the best loved and most successful savings and investment business and we're looking for people who are excited about joining us on our journey. We're digitally transforming and investing heavily in technology and innovation to develop new and improved customer propositions that really raise the bar for our customers. To help us achieve our vision we're looking for exceptional people who live our values and behaviours and who can inspire others; embrace change; deliver results and keep it simple.

We know that an inclusive environment makes us more accessible and ensures we attract, engage, promote and retain exceptional people. We welcome applications from all individuals regardless of age, gender/gender identity, sexual orientation, ethnicity/nationality, disability, or military service and welcome those who have taken career breaks. We will consider flexible working arrangements or home working arrangements for any of our roles.

What you can expect from us:
We are committed to creating an environment where you can be exceptional at all you do. To help us deliver this, we promise to:
  • Challenge Your Limits by creating a stimulating working environment and providing opportunities for you to be involved in meaningful and challenging work
  • Support Your Aspirations with a commitment to learning and development that helps you achieve and build your experience with people who want you to succeed
  • Value Your Input whereby leaders and managers will involve you in key decisions, listen to your thoughts and recognise the important contribution you make
  • Balance Your Life through a work life partnership that focuses on making this an inclusive, diverse and friendly place to work and offers the flexibility and support that enables everyone to be at their best

How do we support our employees:
All M&G plc employees will be supported in the workplace through our M&G Employee Assistance Programme (EAP). If you need counselling, confidential financial or legal advice. The service is available 24 hours a day, 365 days a year and offers access to qualified professionals who can provide specialist information, advice and support on many issues. It offers a broad range of services, including help with family issues, maintaining work/life balance and mental health support.

Role Context:
  • Overall responsibility for managing the Public Fixed Income Risk team currently a team of 4-5 with a requirement to develop staff, ensuring there is a collaborative team culture and that resources are aligned to the team objectives. The collaborative culture should be particularly across the different investment risk teams (London, Lux) and the wider risk function.
  • Leading and owning the relationship with the Public Fixed Income investment teams (Investments, Product) and managing relationships with senior leaders across risk.
  • To lead regular interaction with public fixed income fund managers through scheduled formal and informal meetings in order to ensure portfolio risk (levels, composition) is managed in line with fund/mandate objectives. Proactively raising and addressing issues as appropriate or escalating any issues to senior management within the risk function.
  • The interactions will involve working closely with Fund managers and the Head is expected to provide appropriate challenge on portfolio construction, risk and positioning in portfolios (Reviews to include market risk, stress tests, liquidity, ESG, and performance as appropriate).
  • To contribute and participate to various performance, risk, and liquidity committees as representative of Fixed Income risk - (on occasion as cover for head of Investment Risk), and any relevant board meetings.
  • Undertake and develop risk analysis using a suite of risk and analytical software (Aladdin, Bloomberg, FactSet PA)
  • To present on investment risk in due diligence meetings with existing clients and new prospects. Provision of some risk information to investment specialists for inclusion in client presentations and marketing materials.
  • To provide appropriate market risk Input in to the product development process through analysis of model portfolios and back-testing of investment strategies; preparation of risk data to be included in regulatory submissions prior to fund launch e.g. stress testing, model portfolio risk analytics.

Manager or Expert:
  • For people managers, accountable for managing and motivating others to ensure quality of delivery to customers and stakeholders
  • For technical specialists, accountable for delivering expert advice or service, using specialist knowledge and subject matter expertise
  • Applies judgement to deliver outcomes, evaluating a range of potential solutions, considering the impact for customers, cost and risk
  • Manages conflicts that may impact delivery
  • Challenges upwards given knowledge of delivery and awareness of complex systems and the broader picture
  • Identifies and anticipates need for changes to continuously improve quality and efficiency of output
  • Manages resources and risks using expert judgment, know-how and experience

Experience Statements
  • Senior-level experience in both investment management industry and in risk management, in addition to investment or portfolio management experience.
  • Fixed income risk experience essential with minimum 7 years buy-side experience.
  • Mathematical/analytical background at both degree level and through professional experience.
  • Strong knowledge of wide range of financial instruments and asset classes.
  • Ability to influence cross-functionally at senior levels.
  • Ability to communicate and present complex ideas simply to senior stakeholders.
  • Experience of managing and/or mentoring others and developing people
  • Strong experience of working with Fund managers and Senior Managers in a collaborative manner
  • Expert level knowledge of risk models (understanding of theoretical construction, mechanics, strengths, weaknesses).
Personal attribute/skills
  • Personal attributes are expected to include strong communication and interpersonal skills, be personable, have excellent attention to detail, an analytical mindset, ability to form very good relationships with a range of stakeholders, be very organised and able to prioritise effectively.

  • Undergraduate degree and CFA or Similar are highly likely for the role. Post-graduate degree in Finance, Economics or related technical fields an advantage.

Work Level: Manager or Expert
Recruiter Name: Shaima Nasim
Closing Date: 19.10.2021

We live by four behaviours at M&G and we ask all our employees to:
  • Inspire Others - Support and encourage each other, creating an environment where everyone can contribute and succeed
  • Embrace Change - Be open to change, willing to be challenged and able to adapt quickly and imaginatively to new ideas
  • Deliver Results - Focus on outcomes, set high standards and deliver with energy and determination
  • Keep it Simple - Cut through complexity and bureaucracy, be clear and decisive and never overcomplicate things

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