Junior PM / Trader

21.3.23 Investments

Job Title: Junior Trader

Location: London– Hybrid (minimum 40% office, the remainder at home)

Full time – 35 hours

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The Role

As Junior Portfolio Manager/Trader you will work closely with the Liquid Credit Portfolio Manager and Liquid Credit Trader to support our public bond portfolio of £11bn, with AUM growing >10% per year. This is an opportunity to join a dynamic team, with options and freedom on your career development as part of an expanding team within a growing business sector.

Supporting Portfolio Management, analysing macroeconomic themes/trends and how our top down overlay feeds into our investment thesis and dynamic portfolio construction. Working with Credit Trading on a range of skills from trading bonds, looking at relative value across primary and secondary markets and generating value though optimisation strategies on our back book. It will be essential to learn how the investment process fits into the structure of our business as a Life Insurer – this will include ALM, Solvency 2 & IFRS. Our aim is provide the candidate with a solid foundation and over time make tangible contributions to both Portfolio Management and Credit Trading.

Key Responsibilities

• Work closely with the Liquid Credit Portfolio Manager to understand the investment appetite and constraints of the Matching Adjustment portfolio as well building investment views regarding credit trends both in terms of spread and rating changes

• Collaborating with the Credit Trader on execution and monitoring of credit trades within Just’s Matching Adjustment internally managed bond portfolio

• Provide information and opportunity flow in respect of internal corporate bond portfolio management

• Research and maintain market capabilities and infrastructure in relation to credit trading initiatives and operations, including relationship management with trading counterparties

• Provide market colour and insight on credit, rates and the general macro environment to the investment team

Skills and Experience

• Good understanding of the drivers behind macro trends and how these impact risk assets

• Interest and knowledge of corporate and government bond markets across Investment Grade Developed and Emerging market debt

• Has an awareness of the holistic impacts of an investment [E.g. Liquidity risk, derivative implementation, operational aspects etc.]

• Understanding of the basic principles of Liability Driven Investment along with how investment strategy is geared towards a Matching Adjustment portfolio is beneficial

Overview of Company

We’re a specialist UK financial services group focusing on attractive segments of the UK retirement income market but guess what, we’re not your traditional financial services company and we’re not just looking for traditional financial services people.

We need agile operators, who can quickly find solutions and are committed to doing the right thing for our customers. To fulfil our purpose to help people achieve a better later life.

In 2021 we were named as one of the UK’s 100 Best Large Companies to work for and accredited as a 2 star organisation, representing outstanding levels of engagement. Alongside these we were also recognised as one of the Financial Services’ 30 Best Companies to Work For, London’s 75 Best Large Companies to Work For, South East’s 100 Best Companies to Work For and Northern Ireland’s 10 Best Companies to Work For.

Company Benefits

• A Competitive Salary, amazing Pension Scheme and Life Assurance

• Along with 25 Days Annual Leave plus an Additional Day on us for your Birthday

• Private Medical Cover and Income Protection, just in case

• A generous and highly achievable bonus scheme – paid annually based on individual and company performance against targets

• Opportunity to progress within your career both in-role and within the company

• FREE access to the Headspace App, a 24/7 Employee Assistance Helpline and Trained Physical & Mental Health First Aiders (On-Site)

• A variety of Employee Funded Benefits available to you via our Online Benefits Portal

• Plus, several additional purchase options available for you and your loved ones

Contact Information

sam.potter@wearejust.co.uk