Senior ALM Risk Associate

Business Area: Financial Risk

Place of Work: London

Contract Type: Permanent

When you join USS, the size and scale of our pension scheme means you will have numerous opportunities to learn and develop your career. Given our size you'll have real autonomy and influence as you collaborate closely with a wide-ranging team of experts.

About the role

In your role as Senior ALM Risk Associate you will make a meaningful and valued contribution from the outset. This role will provide a great opportunity to support and build on the capability within the Scheme Risk Oversight & ALM function associated with all ALM related activity. More specifically this relates to areas of analysis, advice and support pertaining to the triennial valuation process, stochastic analytics and liability cash flow dynamics.

This role is intended to assist in the alignment of the asset strategy and portfolio construction with the overarching and long-term liability dynamics on the DB side, and to assist in the development of the Glidepath and life-styling options associated with the DC side.

The role will also ensure the bridge between the Funding Strategy and Financial Risk teams with USSIM is maintained and developed, as well as working with the wider Financial Risk function to develop the second-line risk framework.

What you will be doing

As a trusted part of the Financial Risk team, you will:

• Work with the Scheme Risk Oversight & ALM and the Head of Financial Risk to embed stochastic ALM analytics into the first and second line risk frameworks across DB and DC.
• Provide subject matter expertise as regards the integration of the liabilities into the risk management process.
• Support USSIM with the ongoing development of the DC Glidepath, life-style options and potential future post-retirement offering.
• Support the Head of Financial Risk and Funding Strategy teams in the scheme triennial valuation process.
• Support the USSIM Head of Investment Advice and ISA functions in the provision of risk analytics to support the portfolio construction process and strategic investment advice (provided by USSIM).
• Remain abreast of investment market and pension related developments and actively incorporates knowledge in the development of strategic initiatives.
• Support the preparation of committee papers for the relevant boards, coordinating and liaising with Head of Financial Risk on content and other requirements.
• Continue to improve the consistency of market data used for analytics within the team.
• Be responsible for asset inventory and model compliance for the stochastic ALM system.

About you

We know that sometimes people can be put off applying for a job if they don't tick every box, if you're excited about working for us and have most of the skills or experience we're looking for, then please apply, regardless of whether you meet all the requirements outlined in this profile.

To be successful in the role you will have:

• Previous experience in investment risk and stochastic analysis (ideally in the context of pension funds).
• Familiarity with UK defined benefit pension topics.
• Familiarity with general quantitative methods (statistics, econometrics, etc.) and with pension liability cashflows and the actuarial methods applied in pricing them.
• Ability to communicate complex analysis in a digestible and engaging fashion.
• Proficient at prioritisation, project organisation, and management of multiple workstreams.
• Programming skills (SQL and Python).

At USS, every individual contributes to building a secure financial future for our members and their families. We strive to create a work environment where everyone can thrive professionally while making a meaningful impact on the lives of others. We're also committed to helping you build your career by providing opportunities for development. We put a focus on recognising and supporting each individual's unique career path, driving this forward with the support of an engaged and proactive management team. Here at USS, we want you to thrive in and out of work with a friendly team, flexible culture and excellent range of benefits!

How we will reward you

- Great starting salary
- Generous annual leave package
- Access to a high quality pension scheme provided through Universities Superannuation Scheme
- Supportive people policies (including enhanced occupational sickness pay and family friendly pay)
- Financial contributions towards your personal development to help you maintain your physical and mental wellbeing
- Access to a range of health and wellbeing services i.e., private healthcare, discounted gym membership
- Learning and development opportunities to develop your skills, knowledge and talent
- Employee Volunteer Day’s to support the communities where you work and live
- Cycle to Work Scheme

Our people are what makes us different. We work together to create a diverse and inclusive culture that embraces individuality, where people are welcomed and feel comfortable in the knowledge that they can be themselves. Our purpose firmly states the importance of members, putting them ‘front and centre’ of what we do. This is embedded through our values:

- Integrity
- Collaboration
- Excellence

Universities Superannuation Scheme (USS) was established in 1974 as the principal pension scheme for universities and higher education institutions in the UK. We work with around 330 employers to help build a secure financial future for more than 528,000 members and their families. We are one of the largest pension schemes in the UK, with total assets of around £75.5bn (at 31 March 2023). To find out more, please visit https://www.uss.co.uk

USSIM is proud to be an equal opportunity employer. We strive to ensure our recruitment process is as flexible and inclusive as possible so we can attract diverse candidates and recruit the best talent. We want all candidates to perform at their best during the recruitment process, so if you need any reasonable adjustments or if there is anything we can do to help support you through your recruitment journey please let us know by contacting resourcing@uss.co.uk.