Overview
Based in Wolverhampton. LGPS Central (LGPSC) Ltd is the FCA-regulated asset manager for eight local authority pension funds across the Midlands, managing £45bn+ of assets. We are recruiting two Client Portfolio Managers to strengthen our client-facing capabilities and deliver high-quality, tailored support to Partner Funds as part of our investment delegation services.
Role focus: implementation of the total Fund portfolio for 2-4 Partner Funds in line with the Investment Management Agreement (IMA), including the management of all cashflows. The underlying implementation of manager and stock selection will be delegated to other Central investment teams. You will work closely with Partner Fund Client Directors and Central Operations and Investment teams across both private and public markets.
Join the centre of a £45bn pension pool and collaborate with Partner Funds across both public and private markets.
What you'll be doing
As our Client Portfolio Managers, you will be at the heart of delivering an exceptional client experience. The role has two phases:
Initial phase
* Develop and implement our business plan to enable Central to take on greater delegated implementation in line with government proposals and legislation.
* Design Central's total portfolio management service for Partner Funds.
* Assist in designing investment schedules of the IMA.
* Assist with procurement of systems (e.g., total portfolio management system) with appropriate data inputs.
* Assist with recruitment of appropriate people.
* Design asset class building blocks.
* Build relationships with Partner Funds.
* Agree project plans for onboarding Partner Funds ahead of government deadlines with Client Directors and internal teams.
* Work with external support such as investment consultants or third-party oversight.
Ongoing
* Build and manage the overall strategy for 2-4 Partner Funds. Underlying implementation (e.g., manager or stock selection) is likely delegated to Central building blocks and investment teams.
* Work with Client Directors and clients to agree investment guidelines of the IMA.
* Ensure ongoing compliance with IMA investment guidelines and reporting; rectify any breaches appropriately.
* Ensure portfolios reflect Central's house views consistently and timely.
* Rebalancing and/or tactical asset allocation in line with Partner Fund guidelines.
* Manage all cashflows including investment income, private market distributions, private market commitments, Partner Fund contributions, and distribution requests.
* Model cashflows; plan and implement transitions and trades; execute trades and draft client instruction letters where required.
* Identify improvements and efficiencies in ways of working.
* Collaborate with Partner Funds, Client Directors and investment teams to align Central's building blocks with Partner Fund needs; participate in internal forums to develop investment ideas.
* Likely meet with Partner Funds (including, on occasion, the Pensions Committee) and third-party evaluators to explain our approach.
About LGPS Central
LGPS Central (LGPSC) Ltd is the FCA-regulated asset manager for eight Local Government Pension Scheme funds across the Midlands, responsible for managing £45bn+ of assets. It is jointly owned by Partner Funds and is one of eight LGPS asset pools in the UK. Our Partner Funds are: Cheshire, Derbyshire, Leicestershire, Nottinghamshire, Shropshire, Staffordshire, West Midlands, and Worcestershire Pension Funds.
We are committed to responsible investment and offer a friendly, hybrid-working environment with a range of employee benefits. Our offices are in Wolverhampton, with good transport links.
Requirements
* Institutional Investment Expertise: Proven experience in OCIO, fiduciary, or multi-asset management within asset managers, consultants, or institutional investors, with knowledge of both public and private markets and ideally some exposure to LGPS.
* Project & Stakeholder Management: Ability to lead cross-functional projects and collaborate with senior management, investment teams, and external service providers.
* Technical Systems Proficiency: Strong understanding of portfolio management systems (e.g., Aladdin, Simcorp, Charles River) and data providers; experience with back/middle office functions.
* Portfolio & Transition Management: Expertise in managing complex investment portfolios, transitions, multi-asset trading, and cashflows across public and private markets.
* Regulatory & Structural Knowledge: Good grasp of UK investment regulations, pension schemes (ideally LGPS), and investment structures (pooled and segregated vehicles).
* Analytical & Communication Skills: Strong numerical and analytical abilities; able to explain complex investment matters clearly.
* People & Relationship Skills: Personable, articulate, credible; capable of building relationships and influencing stakeholders.
* Ethical Standards & ESG Focus: Committed to high ethical conduct with understanding of ESG integration in investment decisions.
Qualifications
* Bachelor's Degree – Required
* CFA – Preferred
* IMC – Preferred
* Has or can meet all the requirements of being an FCA approved person
What we offer
* Competitive salary
* An enhanced and generous Pension Scheme
* 30 days' paid holiday plus bank holidays
* 2 days paid volunteering days
* An extra paid Company Day in addition to paid holidays
* Excellent Learning & Development Opportunities
* Welfare and Family-friendly policies
* Enhanced pay for new parents
* Access to our Employee Assistance Programme – 24-7 Health & Wellbeing Support
* Vitality Private Medical Insurance
* Hybrid Working
* Company Service Awards
* Cycle to Work Scheme
* Company Electric Vehicle Scheme
* Awards for Diversity and Inclusion in 2022-2023
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