Aviva now have a wonderful opportunity for a ALM Manager to join our Group ALM Team, reporting into the Group ALM & Treasury Director.
In the context of the Group Capital function, the role of Group ALM is to optimise the ALM position of the Group to achieve the best balance between market and credit risk and return (thereby maximising return on capital) whilst protecting the Group's balance sheet from downside market & credit risk. These exposures form the largest risks to Aviva's capital position but also represent a key source of return and profitability. The financial decisions associated with the Group's ALM position make the biggest difference in the short term to our customers and investors - and this is a key position in this team.
Optimising the ALM position involves key day-to-day decisions on asset allocation, the market and credit risks embedded in new business, bonus strategy in participating funds and derivative hedging. It relies on establishing and maintaining a detailed understanding of the asset & liability profile of the Group, and reporting this understanding on a regular basis to the Group ALCO, CRO, CFO, Executive Committee and the Board. This team manages strategic asset allocation for assets under direct Group control and provides support and oversight to the asset allocation process in our businesses.
This team is based in our London office, but as Aviva introduced "smart-working" in 2020, and the person in this role can be based anywhere in the UK, as long as they are comfortable regularly travelling to our London offices.
The role's duties & responsibilities:
- Providing insight on ALM exposure and their impact on Aviva's capital position
- Supporting Group shareholder evaluation and challenge on asset allocation, and investment decisions in businesses - including shareholder opinions and review/support/challenge for BU proposals
- Prioritising the Group objectives, metrics and constraints for ALM decision-making across the Group
- The ongoing development and implementation of a robust strategic asset allocation framework
- Controlling investment into new asset classes, ensuring suitability and the operational capability to invest across Group
Skills & experience required:
- A degree plus a recognised investment or actuarial qualification
- Appropriate business experience including insurance, asset management or trading experience
- Good understanding of financial markets, risk, the insurance industry and the investment universe available to insurers
- A habit of analysing situations from a number of perspectives, balancing short- and long-term considerations; combining judgement with experience
- Experience in asset and liability exposure management and hedging desirable
- High qualitative and analytical skills, and an ability to model portfolios
- Track record of working in an international environment
- Change management ability would be beneficial
- Willingness to explore new business areas
What will you get for this role?
- A competitive salary based on location, experience and qualifications
- Generous defined contribution pension scheme
- Annual performance related bonus and pay review
- Holiday allowance of 29 days plus bank holidays and the option to buy/sell up to 5 additional days
- Up to 40% discount for some Aviva products through "My Aviva Extras" plus discounts for Friends and Family (some exclusions apply)
- Excellent range of flexible benefits to include a matching share save scheme
Working at Aviva
At Aviva, we're people with a purpose. To be with you today, for a better tomorrow.
We bring this to life by ensuring managing risk is at the heart of the way we all work. We love people who do the right thing for our customers, and our colleagues. We want people who speak up, who take ownership, and who make good decisions.
The way we do this is important too. We always 'Care More'. It's our thing. We're all about our people - that's you - so we can be pretty flexible. If you want to work from home some of the time or change your hours so you can pick up your kids or care for someone in your family, we're very open to that. In fact, we don't advertise roles as either part or full time, because we know each person has different needs, just as each business area has different needs. So, it's up to you to discuss working hours during your interview.
We care deeply about being inclusive and that means we encourage applications from people with diverse backgrounds and experiences. We want our employees to bring their whole self to work and that starts with you.
We interview every disabled applicant* that meets the minimum criteria for the job. Once you've applied please send us a separate email stating that you have a disclosed disability and we'll make sure we interview you.
We'd love it if you could submit your application online. If you require an alternative method of applying, please give Daniel Hopchet a call on 0121 234 7625 or send an email to Daniel.Hopchet@Aviva.com .
*As defined in The Equality Act 2010. By 'minimum criteria' we mean you should provide us with evidence which demonstrates that you generally meet the level of competence required and have the qualifications, skills or experience defined as essential to perform the role.