Implementation Portfolio Manager (Associate/Principal)

Role Overview

We have partnered with a global alternative investment manager looking to hire an implementation portfolio manager (Associate or Principal) for their Balance Sheet Management team in London. The team is central to the firm’s investment platform, overseeing how capital is allocated across affiliated insurance balance sheets to optimize return, liquidity, and regulatory alignment.

This is a high-exposure, strategic role involving the shaping of Strategic Asset Allocation (SAA), managing ALM considerations, and executing portfolio construction across public and private fixed income markets.

Key Responsibilities

• Drive and support Strategic Asset Allocation (SAA) decisions across affiliated insurance balance sheets in line with firm-level objectives.
• Participate in portfolio construction across public and private credit, with a focus on investment-grade fixed income.
• Ensure investments align with regulatory frameworks (e.g., Solvency II), capital efficiency targets, ALM needs, and liquidity constraints.
• Contribute to both long-term SAA reviews and near-term capital allocation decisions on a daily/weekly basis.
• Collaborate with internal investment teams, including Return-Seeking Assets (ISGI), Liquid Markets Macro, and IG Credit.
• Support external manager selection and oversight for capital deployed outside the internal platform.
• Communicate portfolio recommendations and strategy to senior stakeholders across investment, actuarial, and capital teams.
• Influence decisions and build consensus among internal and external partners.

Experience & Background:

• 5-7 years of experience in a relevant investment or balance sheet-facing role, such as:
• Insurance asset management (in-house or third-party)
• Insurance solutions teams at asset managers or banks
• Sell-side structuring roles focused on insurance or asset allocation
• SAA or TAA implementation roles on the buy-side
• Strong knowledge of public fixed income, particularly investment-grade credit.
• Exposure to private credit or broader private markets is a plus.
• Familiarity with Solvency II or similar insurance regulatory frameworks is preferred.
• Understanding of ALM frameworks, even without deep specialization.

Skills & Attributes:

• Strong communicator with executive presence and credibility with senior investment leadership
• Commercially astute with a strategic mindset, capable of balancing return, capital, and regulatory considerations
• Able to guide and influence senior stakeholders and build consensus
• Effective in a hybrid strategic and execution-focused investment environment
• Highly collaborative, with the ability to work cross-functionally across investment, actuarial, and capital teams
• Detail-oriented with strong intellectual curiosity