Head of MAP Management & Optimisation

Head of MAP Management and Optimisation

Date Posted: 11/11/2024

Location: London

Job Type: Full time

Who are Just? We’re a FTSE 250 Financial Services company who specialise in retirement solutions. Our world is moving quickly, with the defined benefit buy in/buy out space growing each year. Just continues to grow its business by over £4bn of assets annually. We are a purpose-driven company with compelling and credible goals. We help people achieve a better later life by providing competitive and innovative products, services, financial advice, and guidance to help our customers achieve security and peace of mind in retirement.

Purpose

To lead the efficient management of Matching Adjustment Portfolio(s) and support the optimisation of the ALM position of the Group and regulatory insurance entities within the Group.

Skills and Knowledge

• Deep knowledge of the dynamics of life insurer balance sheets and Solvency UK requirements for base balance sheet and capital requirements.
• Strong experience in ALM techniques and financial instruments.
• Excellent communication skills, both verbal and written, with a proven ability to communicate complex ideas and analysis to a less technical audience in a clear and concise manner.
• Excellent problem-solving skills, with an ability to proactively identify and solve problems.
• Strong delivery and deadline focus.
• Very good working knowledge of Excel, VBA, and at least one other object-oriented programming language (e.g., Python).

Experience

• Extensive experience at a life insurance company with recent experience in capital management, MAP management, ALM, and Investment.
• Proven track record of developing practical solutions to complex technical issues.
• Extensive experience in stakeholder and project management.
• Previous experience of MAP optimisation and capital management projects would be an advantage.

In this role you will be responsible for:

• Manage Regulatory Compliance and Performance: Oversee the regulatory compliance, operations, and performance of Matching Adjustment Portfolios (MAPs) for life insurance companies, ensuring alignment with both internal objectives and external regulations.
• Maintain Integrity of MA Securitisations: Ensure the ongoing integrity and maintenance of Matching Adjustment-eligible internal securitisations, keeping these structures compliant and efficient.
• Lead Regulatory Development Initiatives: Drive the implementation of new regulatory initiatives related to MAP management.
• Assess MAP and ALM Impact of Group Projects: Evaluate the impact of group-level projects involving new asset or liability classes on MAPs and wider ALM implications.
• Conduct Forward-Looking ALM Analysis: Perform quantitative analysis on the forward-looking Asset-Liability Management (ALM) positions of regulated entities and the Group as a whole.
• Engage MA Features Assessment and Lead MA application: Provide SME inputs on the assessment of new asset and liability features.
• Engage with Stakeholders on MA Management: Collaborate with key stakeholders to enhance the efficiency of MAP management.
• Develop and Maintain ALM Framework: Support the development of a robust and efficient framework for managing the Group's ALM positions.
• Support ALM Risk and Liquidity Management: Assist the ALM team in managing ALM risk, performance, and medium to long-term liquidity positions.
• Implement First Line Validation: Execute first line validation activities in line with the validation framework.
• Mentor and Guide Team Members: Lead and mentor junior team members, supporting their professional development.
• Enhance ALM Capacity through Technology: Collaborate with the wider Capital Management team to scale ALM capabilities.

Why Just?

We are committed to building a more sustainable business and have publicly committed to reduce our scope 3 emissions to Net Zero by 2050 and our scope 1 and 2 emissions to Net Zero by 2025. We encourage our people to make small and meaningful changes in their everyday lives to protect our planet for future generations.

Diversity, Equity, and Inclusion (DE&I) is a key priority for Just. We have joined a number of initiatives designed to improve outcomes for employees from underrepresented backgrounds. We also run a Reciprocal Mentoring scheme for employees from diverse backgrounds.

What’s clear about working at Just is that we care. We care about our customers, our purpose, our environment, inclusivity, wellbeing, and most importantly - each other.

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