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Job Specification Job Title: Analyst - Trading Strategies/Asset Allocation – Investment Management Team Reports To: Head of Asset Allocation & Head of Trading Strategies (to be recruited) Lateral: Although this role involves being in the Trading and Asset Allocation areas, analysts will be encouraged to move into other asset classes over time so that they develop generalist cross-asset class skills Location: London office The Role The role involves being an integral part of the Investment Management team. This team is responsible for constructing portfolios for Our client’s clients incorporating asset allocation and manager selection. Portfolio construction for the UK clients will operate from London and be managed by an Investment Committee consisting of key investment decision makers in the various areas of specialty. The head of the Investment Management team is an experienced hedge fund-of-fund and multi-asset class investor, with particular expertise in credit related strategies. Key Objectives The Asset Allocation Committee consists of the Head of Asset Allocation , Head of Investment Management and Head of Trading (to be recruited). It is responsible for forming top down asset allocation views that affect all of Our client’s portfolios. It also helps set the research agenda for the various specialist teams (Equity, Credit, Private Equity and Real Estate). Asset allocation views are formed by doing macro/top down research, but also by picking up on themes that Our client’s favoured underlying managers (ie. hedge fund and traditional managers) are pursuing. Therefore the specialist teams provide feedback of themes they are finding their favoured managers pursuing. There will also be a special interaction between the Head of Trading Strategies (which includes CTA’s, global macro, FX, fixed income arbitrage and commodities) and the Head of Asset Allocation as many of these managers are forming explicit asset allocation views. It is therefore natural that an analyst supports both top down asset allocation research and due diligence on Trading strategies. Key Responsibilities • Supporting the Head of Asset Allocation develop and maintain various quantitative models that support Our client’s asset allocation process • Support in preparing and maintaining the weekly Asset Allocation input materials for the Investment Committee • Over time, start contributing proposals in respect of asset allocation themes for investment • Supporting the Trading Investment Manager in his/her research process. This involves support finding new candidates, doing due diligence on interesting candidates, making recommendations to the Investment Committee, assisting operations colleagues in facilitating making the investment, monitoring incumbent fund managers and terminating appointments. • Quantitative screening on the Trading universe, desk-top analysis of past performance, identification of returns drivers and portfolio characteristics of sample portfolios, reading and analysing material from fund managers and, with time, making recommendations to the Investment Managers regarding fund managers worthy of further research. • Accompanying Investment Managers to due diligence visits on both existing and potential funds, including potentially on-site visits in overseas locations. Participating in due diligence calls. • Analysts are responsible for writing up meeting notes within strict timeframes, completing investment recommendation documents, updating Scorecards and ensuring, together with colleagues from the Operations team that information stored on relevant fund managers is up to date. For invested managers they will be responsible for ongoing monitoring of the managers, compiling quarterly reports updating the teams regarding the progress and performance of a manager, analysing their portfolios and exposures, ensuring all data is up to date on an ongoing basis. • Successful analysts should expect to stay in an Analyst role for 3 to 5 years before potentially moving to a decision making Investment Management role. Profile of Ideal Candidate • One to two years post University work experience in an asset allocation team (buy side multi-asset team, or sell side strategy team). More experienced analysts with modelling and manager selection experience will also be considered • Must possess strong analytical/quantitative skills and inquisitive nature and good familiarity with where to find economic data • Economic/econometric degree is strong advantage – otherwise will need good understanding of macro economics. Ability to develop quantitative and statistical models would be an advantage • Must have the potential to work in an autonomous role, and proactively ask questions and seek guidance where unsure • The role involves extensive report writing – a structured approach to communication is essential • Ability to work with other team members in a non-confrontational way • Ability to work effectively in a small team, taking account of colleagues’ views • Educated to degree level and expected to take professional exams (eg. CFA) • Proactive approach to working etc • Desire to be part of a small, entrepreneurial and innovative team • Any activity as a personal investor considered a plus • Note, more experienced candidates will be considered as well Vision and USP’s • Our client aims to be the leading boutique by 2015 in the design and implementation of Solvency Management solutions incorporating innovative risk management and investment solutions for institutional investors drawing on their centres of excellence in ALM, risk management, derivatives, fund manager selection, asset allocation and portfolio construction. • Our client aim to attract, inspire and motivate top quality professionals in the financial services industry. They also aim to maintain a culture and reputation of working with the highest integrity and being entrepreneurial, results driven, innovative, open, team orientated and free from large company bureaucracy and politics. This is as important as providing competitive remuneration. • In the UK, they believe that most trustees currently lack an executive team of investment professionals who can manage their investments full time and take advantage of the full opportunity set efficiently. Their initial goal is to provide the first successful solvency management service to UK pension funds that involves aligning interests, accepting overall accountability for the investment aspects of the funding objectives and managing the strategy dynamically by taking on delegated responsibility for implementation. • Our client aims to create in the UK, a centre of excellence in solvency management solutions, asset allocation and non-traditional products research. • Their goal is to be the leading provider of risk management services to pension funds and other financial institutions in Europe. They aim to design and implement innovative strategies using derivatives to manage risks. They will also maintain their European base as their centre of excellence in asset-liability management, financial engineering, derivative research and derivative execution.
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