Business Area: Multi Asset Allocation
Place of Work: London
Contract Type: Permanent
Hours: Full Time
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.
To be the pension service of choice for the higher education sector for the long-term
To support and build on the capability within the Strategy Advice function associated with all ALM related activity. More specifically this relates to areas of analysis, advice and support pertaining to the triennial valuation process, stochastic analytics and liability cash flow dynamics.
This role is intended to assist in the alignment of the asset strategy with the overarching and long-term liability dynamics on the DB side, and to assist in the development of the Glidepath and life-styling options associated with the DC side. The role will also form a bridge between the Funding Strategy team and USSIM.
The role provides support and development to all ALM related activities, including valuation support, LDI and long term stochastic risk modelling in the context of portfolio construction and management.
• Incorporates ALM analytics into the investment strategy discussion and develops the existing ALM tool (Ortec – GLASS) into the investment process
• Works with the Risk function to embed stochastic ALM analytics into the risk monitoring and management across DB and DC
• Supports the Integration of the liabilities into the asset allocation process, as well as the liability hedging programmes into the portfolio construction process (DB).
• Supports the ongoing development of the DC Glidepath, life-style options and potential future post-retirement offering
• Supports the Head of Asset and Liability Solutions and Funding Strategy teams in the scheme triennial valuation process
• Supports the CIO/CEO and USSIM Asset Allocation Committee (“AAC”) in portfolio construction and the long-term strategic asset allocation decision process
• Remains abreast of investment market and pension related developments and actively incorporates knowledge in the development of strategic initiatives
• Supports the preparation of committee papers for the relevant boards, coordinating and liaising with Head of Strategy Solutions on content and other requirements.
• Continue to improve the consistency of market data used for analytics originated by ISA
• Be responsible for asset inventory and model compliance for all the internally developed models used by ISA
• Maintains constant dialogue with Head of Asset and Liability Solutions, Head of ISA and Funding Strategy Team
• Works closely with the Strategy Advice team to coordinate work load amongst analysts
• Operates a quality assurance process to ensure consistency and accuracy across the Strategy Advice team
• Remains abreast of wider initiatives, particularly among Funding Strategy, CEO and PAIR functions
• Contributes to team discussion and project development, inputting on issues regarding scheme structure, direction and the appropriate integration of wider initiatives.
• Ensures all process documents are up to date for the most efficient use of resources
• The successful candidate would likely have an actuarial background with experience of advanced stochastic analysis.
• An awareness of both DB and DC structure and dynamics would be key.
• Excellent analytical skills – able to pick up new and challenging concepts and able to provide clear solutions
• Intellectual curiosity – willingness and ability to investigate and develop new ideas and investment strategies
• High level of structure and organisation and the ability to work across teams
• Flexibility in approach – adaptability to different market conditions
• Ability to communicate effectively in both written papers and oral presentations
• Competent at prioritisation, process organisation, and management of multiple workstreams
• Ability to influence, to fulfil investment decisions
USSIM is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.