Investment Manager - Structured Credit and Mortgages

Company Description

Legal & General (L&G) is a leading UK financial services group and major global investor. 

We’ve been safeguarding people’s financial futures since 1836, and strive to build a better society, while improving the lives of our customers and creating value for shareholders. 

We are one of the world’s largest asset managers and provide powerful asset origination capabilities. Together, these underpin our retirement and protection solutions: we are an international player in pension risk transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. 

L&G Institutional Retirement looks after around 700,000 institutional customers who have their retirement benefits secured with us. Operating continuously in the UK market from our entrance in 1987, we are the UK’s longest-running insurer. 

Our Institutional Retirement business is the UK’s longest-serving active bulk annuity provider.

Who we are 

Institutional Retirement is the only insurer to have been operating continuously in the UK market from our entrance in 1987 to the present day. Our UK retirement annuity book stands at an estimated £86.1 billion at 31 December 2023. 

Across our retail and institutional retirement businesses, we look after more than 1 million customers, around c.700,000 of whom are institutional customers who have had their retirement benefits secured with us. 

Job Description

Join our Structured Credit & Mortgages team within Institutional Retirement – Investments, where you’ll play a key role in shaping our expanding portfolio of Structured Credit and Mortgage assets. You’ll work collaboratively across teams to identify opportunities, strengthen our investment framework and help deliver long‑term, sustainable value for our customers. We welcome people who bring balanced judgement, curiosity, and a proactive approach, and who value an inclusive environment where diverse perspectives improve decision‑making.

What you'll be doing:

• Supporting the expansion of Structured Credit investment opportunities to help optimise and diversify the Institutional Retirement portfolio 
• Managing the structured credit portfolio including identifying key market risks and creating appropriate risk metrics and appetites 
• Overseeing asset manager performance and ensuring portfolio activity aligns with agreed mandates and risk appetite 
• Developing and enhancing the structured credit and mortgage investment framework to maximise risk‑adjusted returns
• Leading strategic transaction execution and engaging with internal and external stakeholders to ensure effective implementation and monitoring
• Collaborating with wider Investments teams and Asset Management colleagues to strengthen relationships and support high‑quality delivery 
• Operating within mandates and risk limits while embedding Conduct Risk and Consumer Duty considerations into everyday activity 
• Contributing to strategic initiatives that broaden Institutional Retirement’s presence across structured credit and securitised asset classes

Who we're looking for:

• A degree in a quantitative, finance or management‑related subject (or equivalent experience), with CFA progress an advantage 
• Experience investing in or executing transactions across Fund Finance, Consumer, Residential, Data Centres or SME asset classes
• Demonstrable knowledge of structuring, modelling, legal processes and rating agency considerations linked to structured credit 
• Understanding of insurance balance sheet mechanics, portfolio construction and relative value assessment 
• Buy‑side or sell‑side experience in relevant asset classes, ideally gained within an investment bank or asset manager
• Ability to build and use complex financial models to support underwriting and investment decisions 
• Strong interpersonal and communication skills, with a collaborative, adaptable and solutions‑focused mindset 
• Proficiency in Excel with working knowledge of C++ beneficial, and confidence operating in a dynamic environment while delivering high‑quality results on time

Whatever your role, we reward performance and behaviour with a package that looks after all the things that are important to you. Here are some of the benefits we offer:

• The opportunity to participate in our annual, performance -related bonus plan and valuable share schemes
• Generous pension contribution
• Life assurance
• Healthcare Plan (permanent employees only)
• At least 25 days holiday, plus public holidays, 26 days after 2 years’ service. There’s also the option to buy and sell holiday
• Competitive family leave
• Participate in our electric car scheme, which offers employees the option to hire a brand-new electric car through tax efficient salary sacrifice (permanent employees only)
• There are many discounts we offer – both for our own products and at a range of high street stores and online
• We’re creating net‑zero carbon workplaces by 2030 by investing in our sustainable, modern offices across the UK, all designed to bring people together and elevate the in‑person experience

#LI-LA1

Qualifications

Additional Information

At L&G, we believe it's possible to generate positive returns today while helping to build a better future for all. 

If you join us, you’ll be part of a welcoming, inclusive culture, with opportunities to collaborate with people of diverse backgrounds, views, and experiences. Guided by leaders with integrity who care about your future and wellbeing. Empowered through initiatives which support people to develop their careers and excel.

We care passionately about outcomes rather than attendance and are therefore open to discussing all kinds of flexible working options including part-time and job shares. Although some roles have limited flexibility due to customer demand, we accommodate requests when we can. 

It doesn’t matter if you don’t meet every single criterion in this advert. Instead, think about what you excel at and what else you can bring in terms of strengths, potential and connection to our purpose.