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Alternatives Operations Analyst
The Universities Superannuation Scheme (USS) has circa 396,000 members, and over £60 billion in assets, we’re one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, we’re entrusted by over 350 higher education sector employers to manage and administer the pension scheme and its investments through our two companies, Universities Superannuation Scheme Limited and USS Investment Management Limited.
Our purpose
Working with Higher Education employers to build a secure financial future for our members and their families.
The role
The Operations Department is organised into three teams; Public Markets, Alternatives support and Onboarding/ reporting.
The role sits within the Public Markets Operations team & is focused on supporting the end to end lifecycle of public markets assets.
The role requires a high level of stakeholder engagement with the ability to manage multiple initiatives.
Attention to detail is critical with the ability to set own priorities and manage to multiple daily deadlines.
Key responsibilities
ublic markets
Delivery
• Understanding of trade affirmation/ confirmation processes, for all products, escalating to brokers or internal PM’s as required
• Assessing funding requirement and the funding of central mandates including requesting FX transactions
• Understanding of Trade lifecycles.
• Complete cash and stock reconciliations daily, investigate timely & escalate issues as appropriate
• Complete IBOR vs ABOR reconciliation process, investigate timely & escalate issues as appropriate
• Complete oversight of Fund accounting service providers
• Support operational enhancement testing as prioritized by the team
• Support delivery on new business initiatives into the team
• Operate with minimal errors
• Ensure all teams procedures are accurate & up to date in line with internal policies
Stakeholder engagement
• Provide value by working closely with portfolio managers
• Liaise with Performance, Risk and Finance as required
Reporting
• Create and deliver NAV oversight reporting packs
• Deliver data for Weekly operating Report & team MI pack
• Identify & report risk events in line with business expectations
Third party Relationships
• Own daily relationship with JPM for custody, accounting, GDS and DCM
• Own daily relationship with NT for custody and accounting
• Attendance at third party service reviews as required
Development
• Look for training opportunities to enhance skills
• Improve personal skill matrix score each year
Teamwork
• Strong can-do attitude to work effectively as part of the team
• Willingness to help others in busy periods
Your experience
• Business/ Finance experience of working within a product control / NAV Oversight function within the asset management industry
• Part qualified or Qualified accountant or equivalent
• IMC/CFA qualification advantageous
• A depth of product knowledge across multiple products (OTC derivatives cleared and bilateral, Equity, bonds, FX, ETD and collateral management)
• Experience of Bloomberg AIM
• Attention to detail
• Track record of initiative/project delivery
• Flexible approach to re-prioritise as needed
• Good Excel skills – VBA/Macro experience beneficial
USSIM is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We recognise the diverse lifestyles and priorities of our employees and have reflected this in in the company’s Flexible Working Framework, which, wherever possible, supports employees to find a balance that works for them whilst ensuring we always put our members’ interests first.
| Operations | 02/12/2021 |
| London |
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Analyst - Private Markets
The Universities Superannuation Scheme (USS) has circa 396,000 members, and over £60 billion in assets, we’re one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, we’re entrusted by over 350 higher education sector employers to manage and administer the pension scheme and its investments through our two companies, Universities Superannuation Scheme Limited and USS Investment Management Limited.
Our purpose
Working with Higher Education employers to build a secure financial future for our members and their families.
The role
PMG is responsible for the origination, investment and management of private market activity on behalf of the Universities Superannuation Scheme (USS). PMG comprises c.60 individuals working across private equity, infrastructure, property and private credit with c.£20B in assets under management. PMG manages a diversified portfolio covering investments in directly-held private companies as well as joint ventures, partnerships, co-investment and fund (GP/LP) structures. PMG primarily invests in the UK, North America, Western Europe and Australia and is the largest UK pension fund investor in private market assets. Whilst the majority of assets comprise directly held ownership stakes in private companies, PMG also partners with many of the world’s largest private investors via an extensive programme of fund- and co-investments.
The successful candidate will join a pool of Analysts and Associates working across all investment strategies within PMG. For the first two years after joining PMG, Analysts will rotate across the main investment areas within PMG in order to develop a broad understanding of all aspects of private markets investing, strategy and asset management.
The role will also give Analysts the opportunity to participate in all aspects of the investment process across a mix of direct investment, co-investments and fund investments and will encompass the full breadth of PMG activity across origination and structuring of transactions to asset management and portfolio monitoring.
We are an equal opportunity employer and value diversity in all its forms.
Key responsibilities
• As part of the investment team, working across multiple transactions, your responsibilities will include:
• Investment due diligence (quantitative modelling and qualitative analysis of investment opportunities including preparation and review of commercial and technical due diligence);
• Co-authoring of Approval and Investment Committee papers and, subsequently, help to present these materials at committee stage;
• Collaboration with internal stakeholders including tax, investment legal, operational due diligence and compliance;
• Co-ordination of external advisors including investment banks, General Partners (GPs), external counsel and technical advisors
• Help to assess potential investment opportunities and macro themes alongside the PMG strategy team;
• Initiate and build relationships across advisory network and with investment professional peers;
• Assist asset management activities across PMG including interaction with GPs and oversight of their fund performance, interaction with senior management at the companies in which PMG invests in and attendance at shareholder meetings, monitoring of company performance against pre-determined financial and non-financial objectives, participation in value add and transformation activities
Your experience
• Undergraduate degree or equivalent
• Post-graduation experience with a background in financial services, ideally in an investment context (investment management, investment banking, corporate finance, accounting, ratings agency, financial law or consulting)
• Prior exposure to private markets considered advantageous but not a prerequisite for the role
• Critical thinker with strong analytical and numerical skills that can be applied to company valuation and financial analysis, modelling skills considered a plus although training will be provided
• Excellent interpersonal and communication skills with the ability to develop internal and external relationships
• A strong team player contributing to a supportive and collaborative working environment
• Good work ethic and a self-starter
• Ability to work in the UK with occasional travel to Europe, US and Australia
USSIM is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.
| Private Markets | 07/01/2022 |
| London |
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Analyst / Associate - Maternity Cover
The Universities Superannuation Scheme (USS) has circa 396,000 members, and over £60 billion in assets, we’re one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, we’re entrusted by over 350 higher education sector employers to manage and administer the pension scheme and its investments through our two companies, Universities Superannuation Scheme Limited and USS Investment Management Limited.
Our purpose
Working with Higher Education employers to build a secure financial future for our members and their families.
The role
PMG is responsible for the origination, investment and management of private market activity on behalf of the Universities Superannuation Scheme (USS). PMG comprises c.60 individuals working across private equity, infrastructure, property and private credit with c.£20B in assets under management. PMG manages a diversified portfolio covering investments in directly-held private companies as well as joint ventures, partnerships, co-investment and fund (GP/LP) structures. PMG primarily invests in the UK, North America, Western Europe and Australia and is the largest UK pension fund investor in private market assets. Whilst the majority of assets comprise directly held ownership stakes in private companies, PMG also partners with many of the world’s largest private investors via an extensive programme of fund- and co-investments.
The successful candidate will join a pool of Analysts and Associates working across all investment strategies within PMG, providing maternity cover. Analysts and Associates work across the main investment areas within PMG in order to develop a broad understanding of all aspects of private markets investing, strategy and asset management.
The role will provide an opportunity to participate in all aspects of the investment process across a mix of direct investment, co-investments and fund investments and will encompass the full breadth of PMG activity across origination and structuring of transactions to asset management and portfolio monitoring.
We are an equal opportunity employer and value diversity in all its forms.
Key responsibilities
As part of the investment team, working across multiple transactions, your responsibilities will include:
• Investment due diligence (quantitative modelling and qualitative analysis of investment opportunities including preparation and review of commercial and technical due diligence);
• Co-authoring of Approval and Investment Committee papers and, subsequently, help to present these materials at committee stage;
• Collaboration with internal stakeholders including tax, investment legal, operational due diligence and compliance;
• Co-ordination of external advisors including investment banks, General Partners (GPs), external counsel and technical advisors
• Help to assess potential investment opportunities and macro themes alongside the PMG strategy team;
• Initiate and build relationships across advisory network and with investment professional peers;
• Assist asset management activities across PMG including interaction with GPs and oversight of their fund performance, interaction with senior management at the companies in which PMG invests in and attendance at shareholder meetings, monitoring of company performance against pre-determined financial and non-financial objectives, participation in value add and transformation activities
Your experience
• Undergraduate degree or equivalent
• Post-graduation experience with a background in financial services, ideally in an investment context (investment management, investment banking, corporate finance, accounting, ratings agency, financial law or consulting)
• Prior exposure to private markets considered advantageous but not a prerequisite for the role
• Critical thinker with strong analytical and numerical skills that can be applied to company valuation and financial analysis, modelling skills considered a plus although training will be provided
• Excellent interpersonal and communication skills with the ability to develop internal and external relationships
• A strong team player contributing to a supportive and collaborative working environment
• Good work ethic and a self-starter
• Ability to work in the UK with occasional travel to Europe, US and Australia
USSIM is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We recognise the diverse lifestyles and priorities of our employees and have reflected this in in the company’s Flexible Working Framework, which, wherever possible, supports employees to find a balance that works for them whilst ensuring we always put our members’ interests first.
| Private Markets | 16/11/2021 |
| London |
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Annual Report & Accounts Project Manager
The Universities Superannuation Scheme (USS) has circa 396,000 members, and over £60 billion in assets, we’re one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, we’re entrusted by over 350 higher education sector employers to manage and administer the pension scheme and its investments through our two companies, Universities Superannuation Scheme Limited and USS Investment Management Limited.
Our purpose
Working with Higher Education employers to build a secure financial future for our members and their families.
The role
Project management and delivery of the Annual Report & Accounts (ARA) and USSIM and USSL statutory accounts
Key responsibilities
• Prepare and manage the project plan for the ARA and USSIM/USSL statutory accounts including agreement of key milestones and deliverables
• Produce associated governance documents such as the Project Initiation Document (PID), risk register and stakeholder analysis
• Provide regular reporting to stakeholders to demonstrate project progress against milestones
• Act as the main point of contact with external agency project manager to ensure alignment and tracking against plan
• Co-ordinate printing and delivery of final signed documents
• Co-ordinate and produce additional supplements such as governance and risk management
• Co-ordinate publishing on USS website
Your experience
Essential:
• Project management experience, skills and knowledge
• Excellent analytical, verbal and written communication skills
• Able to work in a manner that is consistent with the organisations ethos and values
Desirable:
• Experience in pensions or investments industry
• Experience of project managing Annual Reports
USSL is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We recognise the diverse lifestyles and priorities of our employees and have reflected this in in the company’s Flexible Working Framework, which, wherever possible, supports employees to find a balance that works for them whilst ensuring we always put our members’ interests first.
| Finance | 29/11/2021 |
| Liverpool |
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Business Analyst - Covenant
The Universities Superannuation Scheme (USS) has circa 396,000 members, and over £60 billion in assets, we’re one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, we’re entrusted by over 350 higher education sector employers to manage and administer the pension scheme and its investments through our two companies, Universities Superannuation Scheme Limited and USS Investment Management Limited.
Our purpose
Working with Higher Education employers to build a secure financial future for our members and their families.
The role
To support the USS covenant monitoring framework, in particular by overseeing the process for collection, analysis and reporting of data required to monitor the financial health of sponsoring employers, and by supporting any employer engagement required.
Key responsibilities
Supporting the establishment of the covenant monitoring framework
• To support the implementation of the debt monitoring framework and associated processes
• To support further development and embedding of the covenant monitoring framework
• To evaluate the technology required for data capture/analysis and for provision of efficient and robust analytical processes and outputs on ongoing basis.
Data collection and analysis
• To manage the collection, and data quality checking, of the financial and other covenant monitoring data from sponsoring employers.
• To review and analyse the financial data provided by employers and calculate key metrics in order to monitor the financial health of sponsoring employers and identify where further action may be required.
• Identification of potential data quality / consistency/ definition issues
• To evaluate and recommend additional covenant-strength data / key indicators through industry research and analysis.
• To collate and monitor non-financial institutions data where appropriate
Case management and employer engagement – Unsecured debt metric exceedances
• Working with employers exceeding the metrics to obtain and analyse business plans and support creation of mitigation plans where necessary
Case management and employer engagement - new secured debt arrangements
• To support the evaluation process for in-scope employers who notify USS, as part of covenant monitoring framework, of their intention to take out new security
• To triage such cases by reviewing against covenant enhancing criteria.
• To perform analysis to support and advise on the covenant impact of corporate transactions
• To support engagement and coordination of legal / other professional advisers engaged to progress the taking of security where required.
Stakeholder engagement
• To support effective collaboration with internal teams as well as FDs and finance departments of c150 in-scope employers as required
• To collate submissions to the USS Pensions Committee and other governance levels
Reporting
• Providing data analysis to support the delivery of [quarterly] covenant reporting to the USS Pensions Committee
• Providing data analysis to support the delivery of relevant insightful industry reports on a regular and event-driven basis to governance committees and boards.
• To provide data analysis to support triennial covenant assessments, including forming a view on the strength of the employer covenant
Your experience
Essential
• Financial acumen / Corporate data analysis – experience in analysing and interpreting financial statements, business plans including financing arrangements
• Expertise in a broad range of management information systems, including extracting and analysing data, creation of data reports and the development of new data management and reporting solutions
Preferable
• A solid understanding of the UK pensions industry and/ or the UK Higher Education sector
• An Accounting (ACA/ACMA/ACCA) or similar qualification (e. g. CFA)
USSL is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We recognise the diverse lifestyles and priorities of our employees and have reflected this in in the company’s Flexible Working Framework, which, wherever possible, supports employees to find a balance that works for them whilst ensuring we always put our members’ interests first.
| Finance | 07/01/2022 |
| Liverpool |
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Business Analyst, Investment Risk
The Universities Superannuation Scheme (USS) has circa 396,000 members, and over £60 billion in assets, we’re one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, we’re entrusted by over 350 higher education sector employers to manage and administer the pension scheme and its investments through our two companies, Universities Superannuation Scheme Limited and USS Investment Management Limited.
Our purpose
Working with Higher Education employers to build a secure financial future for our members and their families.
The role
To define the scope of projects in conjunction with business sponsors, analyse requirements and specify operational and technical change across USSIM. To take responsibility for providing business analysis across various projects and BAU initiatives, with involvement in activities throughout the full project lifecycle including process definition, system requirements, testing (functional and technical) and implementation.
The successful candidate will be involved in a variety of projects that are either strategic, regulatory or discretionary across the USSIM business areas but with special emphasis on Performance and Investment Risk (PAIR). They will report to the Head of Business Analysis within the USSIM Business Change team.
Key responsibilities
The BA is expected to provide the analysis that will define the scope, requirements and success criteria for a variety of initiatives, primarily in support of the Performance and Investment Risk teams. They will coordinate input from relevant business areas, liaising with the technology change teams (IMS) where appropriate, to define and document proposed solutions for presentation back to business stakeholders for review and sign-off. The BA will act as a point of contact for business and technical colleagues through to solution delivery. The initial focus is involvement in a project to review and implement changes to the investment risk operating model and systems.
The individual will be expected to support Business Change Project Managers and USS PMO, with responsibility for tracking against agreed deliverables and timelines, capturing associated risks and issues, escalating to the Project Manager or Head of Business Analysis as appropriate. They may also be required to provide input to project reporting including SteerCo representation.
The key tasks are expected to be:
• Define the scope of the project, agreeing high level aims with stakeholders.
• Define detailed business and systems requirements in conjunction with users and developers.
• Preparation of a range of documents and project artefacts, as required to suit the task at hand.
• Assess implementation options, influencing stakeholders to select the most appropriate solution. Highlight the implications of each solution not only in terms of project delivery but also business value and on-going support or effort levels.
• Document the current state, proposed outcome and target operating model.
• Planning, preparation, participation in and oversight of testing, transition and implementation.
More generally:
• Assisting with the design and analysis of solutions.
• Liaising with developers to understand technical opportunities and constraints, identify practical solutions, both strategic and tactical where appropriate, and to help prioritise work into releases.
• Analysis and documentation of requirements.
• Formal documentation of design and solutions processes.
• Feasibility analysis.
• Impact assessment of changes.
• RAID log management.
• Develop effective relationships across the business.
• Assist with RFP / selection process for third party vendors where applicable.
Your experience
• Extensive prior business analysis experience (essential).
• Close involvement with investment risk (essential) and performance (preferred) teams and systems.
• Technical familiarity and experience writing systems documentation (essential).
• Experience of either managing work-streams within large projects or project management of smaller projects (strongly preferred).
• A strong background in financial services, with specific asset management and pensions sector experience (highly desirable).
• Logical, structured thought processes and good problem-solving skills.
• Good relationship and stakeholder management skills, with an ability to engage with and gain the confidence of others as well as challenge where appropriate.
• Ability to take the initiative and problem solve. A proactive and constructive approach to issue resolution.
• Strong communication skills (written, pictorial, presentational and verbal) including the ability to adapt communications to different audiences.
• Experience of mapping processes, both current and target, with the ability to summarise key elements succinctly for articulation to senior management.
• Ability to deliver high quality work under tight timelines.
• Strong compliance culture and high personal ethical standards.
• Highly competent at prioritisation, process organisation, and management of multiple work-streams
• Experience of management information typical of that provided to ExCo is desirable.
• Flexible approach to work.
USSIM is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We recognise the diverse lifestyles and priorities of our employees and have reflected this in in the company’s Flexible Working Framework, which, wherever possible, supports employees to find a balance that works for them whilst ensuring we always put our members’ interests first.
| Operations | 07/01/2022 |
| London |
|
Business Analyst, Private Markets
The Universities Superannuation Scheme (USS) has circa 396,000 members, and over £60 billion in assets, we’re one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, we’re entrusted by over 350 higher education sector employers to manage and administer the pension scheme and its investments through our two companies, Universities Superannuation Scheme Limited and USS Investment Management Limited.
Our purpose
Working with Higher Education employers to build a secure financial future for our members and their families.
The role
To define the scope of projects in conjunction with business sponsors, analyse requirements and specify operational and technical change across USSIM. To take responsibility for providing business analysis across various projects and BAU initiatives, with involvement in activities throughout the full project lifecycle including definition, testing and implementation of processes, operating models and system changes.
The successful candidate will be involved in a variety of projects that are either strategic, regulatory or discretionary with a focus on supporting Private Markets Group (PMG) processes. They will report to the Head of Business Analysis within the USSIM Business Change team.
Key responsibilities
The BA is expected to provide the analysis that will define the scope, requirements and success criteria for a variety of initiatives in support of the private markets team (PMG). They will coordinate input from stakeholders, liaising with the technology change teams (IMS) where appropriate, to define, document and present solutions for review and agreement. The BA will act as a point of contact for business and technical colleagues through to solution delivery.
The individual will be expected to support Business Change Project Managers and USS PMO, with responsibility for tracking against agreed deliverables and timelines, capturing associated risks and issues, escalating to the Project Manager or Head of Business Analysis as appropriate. They may also be required to provide input to project reporting including Steering Committee representation.
The key tasks are expected to include:
• Define the scope of workstreams within the project, agreeing high level aims with stakeholders.
• Define detailed business and systems requirements in conjunction with users and developers.
• Prepare a range of documents and project artefacts as required to suit the task at hand.
• Document current state, proposed outcome and target operating models.
• Plan, run and support testing for new or changed processes and systems.
• Work towards strengthening and, where possible, standardising processes to support on-going credit asset management, cash flow planning and modelling. This may involve working with third party platform providers to optimise data feeds and process flows.
• Assist with implementation of processes to ensure that valuations models are properly validated and controlled. Work with PMG analysts and managers, operations colleagues, external asset service providers, financial partners and auditors to ensure that all valuations are robust, maintainable and standardised where possible.
• Gain familiarity with end user functionality and administration of deal systems.
• Enhance operational reporting and contribute to the development of KPI monitoring.
More generally:
• Assist with the design and analysis of solutions.
• Analysis and documentation of requirements.
• Formal documentation of design and solutions processes.
• Feasibility analysis.
• Impact assessment of changes.
• Develop effective relationships across the business.
• Assist with RFP / selection process for third party vendors where applicable.
• RAID log management.
• Liaising with developers to understand technical opportunities and constraints, identify practical solutions, both strategic and tactical where appropriate, and to help prioritise work into releases.
Your experience
The following skills are considered fundamental:
• Extensive prior business analysis experience (essential).
• Technical familiarity and experience writing systems documentation (essential).
• A strong background in financial services, with specific asset management and pensions sector experience (strongly preferred).
• Experience of either managing workstreams within large projects or project management of smaller projects (strongly preferred).
• Prior involvement with alternative assets (in particular private credit but also private equity and property) and private market investment processes and systems (preferred but not critical).
More specifically, the successful candidate should be able to demonstrate:
• Experience of mapping processes, both current and target
• Good relationship and stakeholder management skills, with an ability to engage with and gain the confidence of others as well as challenge where appropriate.
• Strong communication skills (written, pictorial, presentational and verbal) including the ability to adapt communications to different audiences.
• The ability to summarise key elements succinctly for articulation to senior management.
• Logical, structured thought processes and good problem-solving skills.
• A proactive and constructive approach to issue resolution.
• Exacting standards and close attention to detail.
• The ability to prioritise, including management of multiple workstreams.
• The ability to deliver high quality work under tight timelines.
• A strong compliance culture and high personal ethical standards.
• A flexible approach to work.
USSIM is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.
| Operations | 07/01/2022 |
| London |
|
Credit Analyst
The Universities Superannuation Scheme (USS) has circa 396,000 members, and over £60 billion in assets, we’re one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, we’re entrusted by over 350 higher education sector employers to manage and administer the pension scheme and its investments through our two companies, Universities Superannuation Scheme Limited and USS Investment Management Limited.
Our purpose
Working with Higher Education employers to build a secure financial future for our members and their families.
The role
Provide support and sector back-up to the Senior Credit Analyst covering the Healthcare, Technology, Media and Telecom (TMT) sectors. Support to the Senior Credit Analyst covering the Consumer and Retail sectors might also be possible. The focus will be predominantly on Investment Grade (IG) credits.
Be a point of knowledge for Global Credit across specified sectors and in time be able to take views on individual credits based on these skills and knowledge. Be able to contribute to the collegiate decision-making process of the desk. Intention is to independently generate investment/divestment ideas for desk as well as actively participate in team discussions around single-names.
USSIM is the investment management arm of USS, one of the UK’s largest private pension funds. Global Credit currently has credit mandates with over £3bn in assets with the expectation for a substantial growth in AUM. Global Credit can invest across the capital structure with a flexible mandate.
Applications are welcome from candidates with a current knowledge in one or more of the sectors mentioned above along with candidates willing to initially specialise in these sectors. Ultimately, we would be looking for the candidate to be able to progress to cover a sector(s) independently.
A background from a Credit Rating Agency, or conventional sell-side or buy-side research role would be useful.
Key responsibilities
Delivering Results
• Provide support in covering sectors with the goal of taking ownership of the credit exposure to allocated sub-sectors over time.
• Monitor these credits closely, including the quarterly earnings reporting and changes in and relative to expectations.
• Keep on top of regulatory and policy changes, as well as macro developments, which could impact the credit exposure.
• Generate investment/divestment ideas and assist the Portfolio Managers.
Managing Resources
• Attend credit conferences/Issuer meetings and share relevant insights.
Managing Relationships
• Key internal relationships with peers across Equities, Investment Strategy and Advice, Manager Selection, Responsible Investing and Private Markets. Aim to collaborate/ share expertise across the various teams to maximise benefit to USS.
• Develop working relationships with key sell-side Analysts.
Managing Processes & Future Focus
• Help to develop and implement monitoring tools and models for allocated sector coverage
Your experience
Essential
• Background as a Credit Analyst.
• Understanding of drivers for IG credits.
• Strong modelling skills.
• Feel for macro factors affecting credit.
• Proficient in Excel.
• Working well in a small team.
• Experience in writing and presenting clear, concise reports/process documents, sometimes synthesising complex material.
Desirable
• Existing sector knowledge of Healthcare, TMT, Consumer or Retail sectors.
• Experience of US and European credit markets.
• Proficient in using Bloomberg.
• Understanding of rating agency methodology for assigned sectors.
USSIM is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We recognise the diverse lifestyles and priorities of our employees and have reflected this in in the company’s Flexible Working Framework, which, wherever possible, supports employees to find a balance that works for them whilst ensuring we always put our members’ interests first.
| Fixed Income and Treasury | 06/01/2022 |
| London |
|
Emerging Markets Debt Strategist
The Universities Superannuation Scheme (USS) has circa 396,000 members, and over £60 billion in assets, we’re one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, we’re entrusted by over 350 higher education sector employers to manage and administer the pension scheme and its investments through our two companies, Universities Superannuation Scheme Limited and USS Investment Management Limited.
Our purpose
Working with Higher Education employers to build a secure financial future for our members and their families.
The role
To make a leading subjective decision making and strategic contribution on both Hard Currency (HC) and Local Currency (LC) EMD portfolios (including LC Inflation Linked (EMIL)).
To complement existing successful systematic strategies that include: HC risk on/risk off beta management, HC index sampling and tilting, LC EMFX overlays, LC cross country allocation, LC EMIL allocation.
Work alongside the Investment Strategy and Advice (ISA) and Risk team to improve the integration of EMD assets in the Asset allocation and Risk management frameworks.
Key responsibilities
Delivering Results
• Enhancing existing EMD systematic strategies by adding a subjective decision making skillset.
• Efficient Portfolio construction and implementation.
• Strategic decision making that delivers more positive skew & higher kurtosis = downside protection, compared to index returns.
• Design and apply improvements to the investment processes and have a full understanding of all the investment mandate(s) constraints and controls.
• Contribute towards attaining best execution results.
• Thorough understanding of the company-wide day-to-day controls.
• Assist in Operational, Risk management and Strategic queries. Coordinate closely with Operations and Middle Office teams.
Managing Resources
• Source investment opportunities and leverage external resources for the scheme
Managing Relationships
• Develop close relationships with both Internal and External EM Managers, Strategists and Research
• Contribute to managing the external EMD manager relationships.
• Internal key relationships are other peers across FIT, PAIR (Performance and Investment Risk), Investment Strategy & Advice (ISA), Manager Selection and Global Emerging Markets (GEMS Equity).
• Aim to collaborate/ share expertise across the various teams to maximise benefit to USSIM.
Managing Processes and Future Focus
• Develop and implement investment process
Your experience
Essential
• Portfolio management / Risk modelling
techniques
• Proficient in Excel and Bloomberg
• Work well in a small team
• Attention to detail
• Clear communication
• Knowledge (experience preferable) of capital controls, debt reprofiling/renegotiations/default.
Desirable
• Good writing ability (synthesise complex ideas
into concise reports)
USSIM is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We recognise the diverse lifestyles and priorities of our employees and have reflected this in in the company’s Flexible Working Framework, which, wherever possible, supports employees to find a balance that works for them whilst ensuring we always put our members’ interests first.
| Fixed Income and Treasury | 26/11/2021 |
| London |
|
Enterprise Architect (Group and Pensions)
The Universities Superannuation Scheme (USS) has circa 396,000 members, and over £60 billion in assets, we’re one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, we’re entrusted by over 350 higher education sector employers to manage and administer the pension scheme and its investments through our two companies, Universities Superannuation Scheme Limited and USS Investment Management Limited.
Our purpose
Working with Higher Education employers to build a secure financial future for our members and their families.
The role
USS Group is seeking to better understand the full scope of our business and technology landscape in order to make better informed decisions around where and how we should invest in the business capabilities we need to deliver optimal benefit to our members. We have set a strategic objective to establish an enterprise architecture practice that will provide the controls and guidance necessary to facilitate better informed decision making around business design and transformation.
A new enterprise architecture function has been established within USS Group to do this. Sitting within Technology & Transformation, this function will work in collaboration with business and technical stakeholders across the wider organisation and our delivery partners to implement an appropriate governance model and provide the information and capability necessary to guide change across all the aspects of enterprise architecture (business, application, data, and infrastructure).
An enterprise architect has been recruited to establish the function and lead development of the practice across USS Group, covering both USSL and USSIM. This role is to support the Enterprise Architect by leading the establishment of the enterprise architecture practice in the transformation of our Pensions business and groupwide business functions (such as Finance, HR, Risk Management, and Business Intelligence) within USSL.
The purpose of the role is to:
• Facilitate better-informed decision making in the planning and delivery of change across the pensions business and groupwide functions; Delivering strategic business intent and optimising value for money from the investment made
• Establish the strategies, architecture, and governance necessary to guide transformation and support decision making; facilitating the development of a common language and promoting shared understanding across all business and technology stakeholders
• Ensure the clear translation of change from business intent and design to technology design; acting as focal point to explain the needs of members, employers, and business to technical colleagues and technical concerns and challenges to business colleagues
• Provide architectural oversight and governance to change initiatives; ensuring their scope and shape is clearly established in alignment with strategy and remains so; resolving design challenges and acting as a point of escalation in change planning and delivery
• Grow the architecture and design capability of our organisation; working in collaboration with internal colleagues and our partners across the broader architecture and business transformation community to mature the practice
Key responsibilities
• Support the Enterprise Architect to develop enterprise architecture methods and policies and embed them into the change management and governance approach; working with business transformation and technology roles to test, learn, and refine processes and collateral through practical experience
• Establish and promote a common understanding of the current and target business and technology landscape; mapping business, application, data, and infrastructure aspects and the relationships between them to other aspects, such as strategic objectives and change initiatives, ensuring this collateral provides sufficient and necessary views to support analysis and decision making, keeping it relevant, and maintaining its integrity through effective processes
• Develop capability and technology strategies, architecture patterns, and roadmaps to guide and direct the design of business solutions in alignment with enterprise goals and principles; driving this by identifying the business capabilities critical to the achievement of strategic objectives and securing agreement and support across all stakeholders
• Ensure the full context and interdependency with Pensions and Group systems is understood across all stakeholders; collaborating with technology and business change colleagues within USSIM, and third parties in the broader business ecosystem (e.g. HMRC), to identify critical business interdependencies and interfaces and address mutual needs.
• Establish a clear understanding of partner and supplier strategies and roadmaps to inform strategy and change planning; developing relationships with architecture, product owner, and commercial roles, both internally and with our key partners and suppliers
• Bring in an external perspective and challenge to business strategy and design; maintaining a general awareness of industry direction and best practice; collaborating with others in the exploration of opportunities to investigate the pragmatic application of new technologies and services to solve specific business challenges
• Maintain oversight of the change portfolio, proactively identifying critical design risks and challenges presented in the delivery of business change and owning resolution; working across the whole portfolio of change in Pensions and Group and with specific initiatives and engaging subject matter experts
• Be an active member of change planning and governance bodies and processes; acting to scope and shape change initiatives in alignment with strategy, providing assurance change initiatives deliver to this, and updating strategies and standards in response to learning gained
• Take active ownership in the design and selection of technology platforms and key business applications; identifying which are critical and collaborating with business, technology, and commercial experts within the owning change initiatives to ensure designs meet strategic goals in the best way possible
• Act as a critical friend to business and technology stakeholders; Identifying key stakeholders and their needs and developing trusted relationships, particularly with leadership and practitioner roles in change planning, business and technology transformation, supplier management, and business operations
• Support the Enterprise Architect to mature the enterprise architecture practice and embed it into the ways others work; acting as an advocate for enterprise architecture, leading by example, and coaching those across the broader architecture and design community
Your experience
As a key member of the Enterprise Architecture function in USS Group, you will bring your knowledge and experience to bear to play a key role facilitating business change.
You should be comfortable working at pace in a complex, regulated, multi-stakeholder environment with high levels of senior visibility.
A good communicator with strong inter-personal skills, you will need to work collaboratively, be comfortable establishing clarity from ambiguity and in moving between framing strategic challenges and opportunities to a consideration of detailed design issues.
The essential criteria for the person fulfilling the role are:
• A solid background as a solutions architect with at least 5 years’ experience; planning, designing, and delivering business solutions in large-scale transformations
• Wide-ranging and business and technical experience gained across diverse business functions and technologies within multi-supplier, business critical environments; with expert knowledge around at least one of pension administration, digital service delivery, third party service integration, and corporate business systems
• Excellent knowledge and understanding of enterprise architecture methods and best practice; underpinned by both theory and practical application to govern change
• Proven ability to create enterprise-wide views and models and experience using theses to mature strategic thinking and plans to realise business intent; with the ability to assimilate, correlate, and analyse diverse and disconnected information using a variety of methods
• Experienced in establishing and evolving architectural strategies; able to translate strategic intent into architectural solutions and roadmaps, to shape and scope solutions aligned to these, and to refine strategies based on evolving business needs
• A pragmatic problem solver; experienced in owning design opportunities and challenges, from strategy formulation through to solution delivery level, and in collaborating with others to agree optimal resolution
• Strong leadership and consultancy skills; experienced in developing trusted stakeholder relationships at all levels in matrix environments; bringing together diverse interests and needs, facilitating decision making, resolving conflict, gaining consensus, and guiding and inspiring others to work towards the achievement of common goals
• Outstanding communication skills; with demonstrable ability to get across complex concepts clearly and bridge the gap between business and technology communities; in writing, visually, and verbally
The desirable criteria for the person fulfilling the role are:
• a good understanding of the pension and finance industries, or other regulated industries, gained through experience
• educated to degree level in an IT related or other relevant subject, or equivalent knowledge gained through experience
• Possess, or working towards acquisition of, a recognised enterprise architecture certification; such as The Open Group Architecture Framework (TOGAF) Certified, Business Architecture Guild Certified Business Architect (CBA)
USSL is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We recognise the diverse lifestyles and priorities of our employees and have reflected this in in the company’s Flexible Working Framework, which, wherever possible, supports employees to find a balance that works for them whilst ensuring we always put our members’ interests first.
| IT | 22/01/2022 |
| Liverpool |