Job Description
Role purpose
The Investment team seeks to optimise PIC’s investment strategy in line with the firm’s risk appetite. The team aims to maximise risk adjusted returns on capital via portfolio construction and optimisation. The team is responsible for monitoring all of our investments with a particular focus on our credit portfolios and to minimising defaults and losses on investments.
Key Responsibilities
- To conduct thorough credit analysis of the assigned portfolio of public and private investments in the infrastructure sector and effectively communicates those outcomes to Investment colleagues to make sure PIC is accessing the full range of attractive investments.
- Takes ownership of ensuring PIC has up to date credit opinions on all borrowers and key potential borrowers in your sector to ensure we have updated views on potential investments.
- Prepare Internal rating recommendations that efficiently communicate your views on the credit that can be used by different key stakeholders. This would include succinct summaries for committees with more detailed analysis afterwards aimed towards other first-line colleagues.
- Effectively collaborates with portfolio management, trading, and asset/liability colleagues to make and execute investment decisions. Given PIC has one portfolio, seamless integration is key.
Requirements
Technical:
- Strong technical experience in credit rating analysis.
- Expert knowledge of infrastructure and project finance investments across different sub-sectors.
- Established knowledge of financial modelling of project finance transactions.
- Familiar with rating methodology development.
Personal:
- Ability to persuade and influence both directly and indirectly
- Ability to conceptualise and lead others in solving specific problems including experience delivering analysis that is succinct, accurate, well presented, and timely.
- Ability to organise work to meet deadlines.
- Recognised qualification and/or accreditation to a professional body in the relevant field/industry/sector. CFA qualification would be desirable.
Benefits
- 28 days’ annual leave plus bank holidays
- Pension
- Insurance for Travel, Private Medical, Critical Illness, Life Assurance and Income Protection
- Save As You Earn (SAYE)
- Bonus
- Flexible Working
- Dress for your Day
- Cycle to Work
- Fruit and snacks
- Company events
And more
About PIC:
The purpose of PIC is to pay the pensions of its current and future policyholders.
PIC provides secure and stable retirement incomes through leading customer service, comprehensive risk management and excellence in asset and liability management. At 30 June 2022, PIC had insured 293,400 pension scheme members and had £44.1 billion in financial investments, accumulated through the provision of tailored pension insurance buyouts and buy-ins to the trustees and sponsors of U.K. defined benefit pension schemes. Clients include FTSE 100 companies, multinationals, and the public sector.
PIC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (FRN 454345). For further information please visit www.pensioncorporation.com
In essence, we are a simple business: we take on assets transferred from defined benefit pension schemes through buy-ins and buyouts invest them, and use the cashflows generated from these investments to pay our policyholders’ pensions. PIC operates in the Pension Risk Transfer Market.
Our Culture:
PIC employs highly skilled individuals who all work to deliver a common purpose, supported by a culture of innovation and a strong set of values. Our success in hiring new people is due to our focus on creating a purposeful and stimulating working environment, where individual contributions are recognised within a collaborative, team-based effort.
Work Benefits:
We want our employees to be appropriately rewarded for their outstanding work, and PIC offers competitive remuneration packages and a generous range of benefits.
These include:
- hybrid working model
- competitive pension contributions
- private medical cover
- travel insurance
- season ticket loans
- access to 24/7 mental health support through an employee assistance programme
- a Cycle to Work scheme and a dedicated secure cycle space at our London office
- death in service benefit
- save as You Earn (“SAYE”) scheme. Allows employees to build up blocks of shares in the Company. The scheme is open to all employees on an annual basis
- discretionary family leave enhancements including up to 26 weeks maternity and 4 weeks paternity
Diversity and Inclusion:
Diversity of thought is critical to PIC’s success, helping us to deliver our purpose in an innovative way. PIC demonstrably values individuals regardless of background or experience. It is important for us that our people can discuss cultural and other issues that are important to them in a respectful and engaging way.
PIC has been the lead sponsor for the Actuarial Mentoring Programme for the past five years. The initial aim was to retain female actuaries in the profession, and it now has a wider D&I remit. We also have our own mentoring programme, offering opportunities to people across all professions. Our Aspiring Managers Programme has a target of 50% female participants.
In 2021 we created our own Early Careers Academy, which encompasses the 10,000 Black Interns Programme and our own Apprenticeship Programme. Both these programmes focus on attracting diverse talent.
PIC also partners with LGBT Great, Group for Autism, Insurance, Investment and Neurodiversity (GAIN) and RedStart, which is a charity providing financial education to children from disadvantaged areas.
We joined Women in Banking and Finance to provide our female talent with access to learning, networks, and development opportunities, as well as enabling us to learn from other member organisations on how we can continue to keep improving as an inclusive employer.
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Workplace Initiatives |
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Program for parents returning to work after Parental Leave? |
Yes |
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Leadership development programs? |
Yes |
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Mentoring programs? |
Yes |
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Coaching programs? |
Yes |
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Employee-led diversity networks? |
Yes |
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Internal women’s networking groups? |
Yes |
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Open to discussing flexible work arrangements at interview stage? |
Yes |
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No. of weeks paid maternity leave at full salary: |
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Minimum weeks tenure required to be eligible for paid maternity leave: |
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No. of weeks paid paternity leave at full salary: |
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Minimum tenure required to be eligible for paid paternity leave: |
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Gender pay gap reporting information (2021) (UK): |
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Average pay gap: |
18.4% |
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Median pay gap: |
6.8% |
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Average bonus gap: |
1.1% |
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Median bonus gap: |
23.4% |
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Signatory of the UK Women in Finance Charter? |
N/A |
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Targets to raise the number of women in leadership? |
Yes |
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Targets to raise the number of BAME individuals in leadership? |
N/A |
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Listed in the Bloomberg Diversity & Inclusion Index? |
N/A |