Head of Investment Risk

Leeds (hybrid working)

Competitive Salary & Benefits

An opportunity to make a difference

At Border to Coast our purpose is to make a difference. As a customer-owned and customer-focused organisation, integrity is one of our values, as is our collaborative and sustainable approach. Our focus is to secure the pensions of over a million people who have provided valuable service to their communities and society. We’re the largest UK asset manager outside London or Edinburgh, and we provide innovative investments that deliver sustainable returns over the long term.

Head of Investment Risk

Reporting the Chief Risk Officer, we are looking for an established Investment Risk leader to review and challenge the identification, monitoring, management, and reporting of investment risk performed by Border to Coast on behalf of funds under management, to support effective management of risks to customers, the market, other stakeholders, and our company.

You will be responsible for hands on oversight, management and development of the Investment Risk team (2nd line), providing substantive specialist oversight of the identification, monitoring, management, and reporting performed by first line of defence, in respect of investment risk, including portfolio risks, liquidity and leverage of funds within the ACS and other investment vehicles. In the role you will lead:

• investment risk oversight and engagement, providing effective oversight of investment risk analytics.
• second line review and challenge to the first line Portfolio Risk team including: data, analytical methodologies, calculation of investment risk metrics including tools and models used, and MI produced.
• the development, periodic review, and enhancement of the investment risk framework and associated policies.
• Independent Risk oversight on all new products and asset classes being launched by the Investment Team
• the investment risk team’s development of system, models, and tools as may be required
• documentation of 2nd line investment risk oversight activity and design, develop, and produce reporting for governance bodies

In addition, the role holder will provide effective leadership and proactively contribute to the development of the Risk and Compliance function.

We are interested in hearing from experienced Investment Risk professionals with a capability and interest in leadership. In addition, an ability and desire to build constructive relationship with the first line Portfolio Risk team and wider investment function is important, ensuring strong alignment and cultural adoption of investment risk principles, whilst enabling the business to maintain agility.

You will be highly numerate with a strong understanding of investment risks relevant to institutional collective investments, spanning a wide range of asset classes. An Investment Risk leader and able to demonstrable exposure to quantitative modelling techniques covering counterparty, market, liquidity and credit risk.

Border to Coast

Border to Coast is the largest LGPS (Local Government Pension Scheme) pool in the UK. It is owned by 11 Local Government Pension Schemes (‘Partner Funds’). The Partner Funds represent 3,100 employers and over a million members.

The Partner Funds are Bedfordshire, Cumbria, Durham, East Riding, Lincolnshire, North Yorkshire, South Yorkshire, Surrey, Teesside, Tyne and Wear and Warwickshire.

The Partner Funds have c.£64bn in investments, of which Border to Coast is responsible for managing £47.9bn (as of 31 March 2024). Border to Coast also provides support and advice on a further £8.2bn, primarily invested in index funds, which sit outside of the pool.

Border to Coast offers its 11 Partner Funds investment opportunities across equities, fixed income, private markets, and global and UK real estate.

Our purpose is to make a difference for the LGPS. We seek to do this by providing cost-effective and innovative investment opportunities delivering returns over the long term for our Partner Funds, their employers and over 1.1 million LGPS members.

Since launch, Border to Coast has been awarded many accolades: ‘Best Pool of the Year’ at the LAPF Investment Awards three years out of four, most recently winning ‘Pool Innovation of the Year’, named at the Professional Pensions UK Pensions Awards as ‘Equity’ and ‘Alternatives Manager of the Year’, and our Climate Change report has won Pensions for Purpose awards two years in a row.

We welcome applications from people of all backgrounds. We have an open and supportive culture with a commitment to learning and valuing everyone’s skills and contribution.

For a confidential discussion, please reach out to John Rainsbury - John.Rainsbury@Sandersonplc.com