Multimanager analyst - global credit

at  BP

JOB DESCRIPTION:

The Chief Investment Office (CIO) Team sits within the Trustee Executive team. The team supports the Trustees of the Group’s UK defined benefit Scheme which is amongst the largest in the UK both by assets under management and membership. The primary function of the team is to develop the investment strategy and monitor the assets of the Schemes (total £24bn) on behalf of the Trustees.
The Fixed Income Multimanager will be responsible for third party manager research and portfolio management of external sterling and global credit fixed income funds as well as the end to end manager process from selecting, on-boarding and monitoring the external managers to manager exit.
The BP Pension Fund (BPPF) is one of the largest private sector pension schemes in the UK. Overall, the Fund comprises some 33 sections.
Assets – circa £19 billion (31 December 2023)
Membership – c. 58,000

KEY ACCOUNTABILITIES

The following tasks will be expected of the role holder.
Research, select and recommend external sterling and global credit fund managers using a standard process.
Implement investment strategy decisions within the global credit portfolio as the need arises
Work with the multimanager – alternative credit to lead the whole credit portfolio and achieve the investment objectives of the fund
Develop forward looking research opinions on third party managers in fixed income asset classes for use in discretionary and advisory products and solutions.
Use a detailed understanding of alpha drivers for fixed income managers as well as quantitative risk modelling and budgeting techniques to develop well diversified manager structures aligned with fund objectives and constraints.
Develop a comprehensive view of fixed income asset classes, including persistence of active management, market inefficiencies, structural biases, etc.
Participate in the multimanager meeting and help develop reporting as required
Support the other Multimanagers and contribute to enhancing the investment process.
Follow Trustee Board policies and procedures and contribute to global research and portfolio management best practices.
Ensure fund managers follow board policies on stewardship code and responsible investing.
Lead risk effectively through applying due diligence best practices.
Ensure compliance, operational risk controls in accordance with proscribed standards and policies.
Maintains internal control standards, including the timely implementation of internal and external audit points together with any issues raised by external regulators.

ESSENTIAL EDUCATION

Degree level or equivalent CFA charter holder or equivalent investment qualification.

ESSENTIAL EXPERIENCE AND JOB REQUIREMENTS

Experience in manager research and/or a multimanager portfolio management role.
Proficient knowledge of the fixed income manager universes
Proven knowledge of capital markets, modern portfolio theory, portfolio attribution concepts etc.
Demonstrate strong written and verbal communication skills and an ability to articulate and defend an investment thesis and opinion with peers.
Experienced in attending committee meetings and exhibiting strong presentational skills
Passionate and relentless about delivering superior performance for the fund.
Excellent computer skills and experience using portfolio management and analytical tools (ie Bloomberg, Backstop, etc.); familiar with manager search databases such as Mercer Insight, etc.
Bold and self-motivated; able to work independently to meet time intensive deadlines.

SKILLS:

Acquisitions and divestments, Acquisitions and divestments, Analysis and modelling, Asset and project finance, Commercial acumen (Inactive), Commercial performance management, Communication, Corporate Finance, Data visualization and interpretation, Deal modelling and valuation, Deal structuring, Decision Making, Economic evaluation methodology, Economic modelling, Financial accounting and reporting, Financial Analysis, Financial Modelling, Group Problem Solving, Influencing, Investment appraisal, Joint venture structuring, Management Reporting, Market Analysis, Performance management, Presenting {+ 2 more}

Please refer the Job description for details