Investment Manager - Credit

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Investment Manager - Credit

manager · Asset Management

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. 

Legal & General is looking for an Investment Manager to join our Credit team within Institutional Retirement Investments.

This is a broad role across traded and private credit, supporting portfolio management, asset sourcing oversight and the development of credit opportunities that help optimise and diversify our Institutional Retirement portfolio. You’ll work closely with teams across Risk, Asset Management, Investment Strategy, ALM and Investment Operations, with exposure to both internal sourcing channels and the Blackstone relationship.

We’re particularly interested in people who understand how credit assets work for a UK life insurer, including matching asset eligibility, insurance balance sheet considerations and how deals can be structured to meet portfolio and risk requirements.

What you'll be doing:

• Reviewing traded and private credit opportunities from Asset Management, Blackstone and other sourcing channels
• Assessing portfolio fit, relative value and alignment with risk appetites and limits
• Supporting the development of new credit investment opportunities across public and private markets
• Modelling credit opportunities to assess risk, suitability and matching asset eligibility
• Working with Risk on approvals, risk appetite statements and governance requirements
• Drafting and presenting investment and governance papers for internal forums
• Overseeing transaction execution with internal teams and third-party partners
• Building strong relationships across Asset Management, Risk, ALM, Investment Strategy and Investment Operations

Who we're looking for:

• Experience working within a UK life insurer, or directly supporting UK life insurers from a bank, asset manager or advisory environment
• Strong understanding of matching asset eligibility and insurance balance sheet considerations
• Broad credit experience across areas such as infrastructure debt, real estate debt, corporate debt, public debt and / or private debt
• Good understanding of investment grade credit, portfolio construction and relative value assessment
• Ability to model credit opportunities and evaluate risk, eligibility and portfolio suitability
• Experience preparing papers, working through governance processes and engaging senior stakeholders
• Clear communication skills and confidence influencing internal and external partners
• Undergraduate degree in a quantitative, finance, accounting or management-related subject, or equivalent experience

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

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.