Opportunities

Operations - Liabilities Operations - BAU Analyst

Job title:                BAU Operations Analyst

Reports to: Operations Manager    

Contract: Permanent         

Operations Divisional Overview

The Operations division is an integral part of the independent control and support structure whose key mandate is to establish and maintain an effective control environment. Robust control and risk management drives our Business.Operations strategy is underpinned by 3 guiding principles- Payments, Policyholders and Data Management. These 3 principles drive our processes and controls, and are essential for reputation, risk/capital management, and Third Party Administrator (TPA) management.In addition, Operations provides solutions to new structures, monitors contractual and regulatory obligations and creates efficient and cost saving processes. It is also a member experience unit providing best-in-class policyholder service, client management and TPA management.

General activities of the operations team include:

  • Act as an independent control over transactions of the BusinessTrade capture and risk mitigation to ensure bookings are an accurate reflection of business riskExecution and management of lifecycle eventsSupport of project teams in department-wide initiatives
  • Development of technology infrastructure to support the risk management and processing capabilities of transaction 
  • The Rothesay Life Operations BAU Team is responsible for ensuring all operational requirements across our Liability and Reinsurance contracts are serviced correctly.  

This role will suit a person who is enthusiastic, ambitious and hard-working, who has a desire to work in a fast-paced and demanding environment, who can work independently as well as being part of a small team, and who is able to communicate effectively and demonstrate initiative.  It is key that the candidate understands the role that Operations plays in a financial services firm.  The candidate must possess an analytical mind-set where they are able to formulate processes that achieve the required controls.  The position available gives the candidate a lot of autonomy and it is important that they are self-driven to deliver against targets whilst managing time and expectations independently.  The role would ideally suit a graduate with +2 years’ work experience.  A strong candidate with no work experience post-graduation will be considered if the above competencies are demonstrated. 

Responsibilities:

  • Complete a range of daily control activities which include ensuring front to back data flows are accurate, trade capture is correct and payments/funding occur accurately and on time
  • Execution and management of lifecycle events such as routine data cleansesMonitor accuracy of liability and reinsurance data being maintained by Third Party Administrators (TPAs) which ultimately drives the P/L for the business. This is to be done through the use of exception reportingWork with our TPAs to ensure operational service is delivered accurately and per SLA.  This will involve resolving queries and working with our TPAs to refine and build process improvements
  • Work closely with the new business teams to keep up to date with pipeline and ensure operational processes are evolving appropriately
  • Reporting of key risk metrics to managementContinuous process improvement is key in this growth business and supporting projects and technology change is a function of this role 

Skills & Experience: 

Required: 

  • Minimum 2:1 degree from a leading university (please note strong candidates with exceptional work experience will also be considered should the degree criteria not be met)
  • Demonstrable ability to manage multiple projects, tasks and own workload, whilst remaining focused on operational risksAbility to demonstrate collaborative working practises, soliciting feedback from others on work and ideas
  • Ability to think about the big picture and deliver above and beyond core functions
  • Accuracy and absolute attention to detail
  • Strong communication skills to clearly articulate status and issues to others 

Preferred:

  • Have relevant Operations or industry experience (+1 year at least)
  • Strong MS Excel / VBA skills
  • Some pensions, insurance and/or reinsurance knowledge
  • Ability to work with complex documentation and identify operational controls
  • Experience supervising or managing individuals
  • Understanding of risk controls in an operational environment, including knowledge of RCSAs
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Risk - Credit - Surveillance Analyst

Job title: Surveillance Analyst
Reports to: Chief Credit Officer
Contract: Permanent

Rothesay Life’s Chief Risk Officer has a team that consists of a Head of Market Risk, Chief Compliance Officer, Chief Credit Officer and a Model Risk group. The Credit Risk team’s responsibilities include internal ratings, credit analysis, portfolio analysis, deal review and approval, limits and exposures management, surveillance and counterparty risk.  The team continues to grow in response to Rothesay Life requirements, as the company looks to diversify, with credit being a key area in this.

Responsibilities:

  • Support the development and implementation of portfolio monitoring framework where required, as the company develops and builds out its credit analysis.
  • Particular responsibility for the monitoring and assessment of RL’s portfolio across all asset classes, monitoring compliance with credit risk limits and communication of credit information to relevant parties within RL on a timely basis
  • On a daily basis monitor rating actions, company announcements and news flow for all assets within the RL portfolio. Stay up-to-date with sector research, government policy and macro-economic trends that could potentially affect RL’s portfolio.
  • Perform regular reviews of all asset classes in the portfolio.
  • Develop monitoring tools, gain access to research sources and develop relationships with external agencies including the regulator, research analysts, rating agencies and issuers to better understand all credit risks for all issuers in RL’s portfolio. 
  • Understand the rating agencies' criteria and methodologies applied on RL’s portfolio, monitor and analyse all rating agency actions and assess the potential implications for the portfolio. 
  • Understand internal rating methodologies to the same degree. Consider and challenge the appropriateness of ratings as part of the regular asset reviews, and highlight risks and vulnerabilities to these ratings.
  • Ensure rating changes (internal and external) are captured within RL systems on a timely basis (same day), and are communicated to relevant parties internally, including an analysis of capital impact. Reconcile RL ratings with external data to ensure accuracy ahead of month end reporting.
  • Developing and maintaining strong relationships with key internal and external stakeholders including the asset origination team, the risk team, senior management, and industry participants.
  • Participating in industry events and staying informed through review of market research in order to monitor market trends and appropriately challenge new investment proposals.

Skills & Experience:

Required:

  • Minimum 2:1 graded BSc or equivalent from a reputable University.
  • Minimum of 3+ years of experience in a similar role.
  • Familiarity with a broad range of structured finance assets and/or the fixed income market. 
  • Strong analytical skills and attention to detail with a high level of proficiency in Excel/VBA and excellent financial modelling skills.
  • Strategic awareness and professional maturity: enabling this individual to visualise and communicate quantitative and qualitative risks, and their implications firm-wide.
  • A self-starting, pro-active attitude. Rothesay Life operates a flat, meritocratic working environment.
  • Candidates need to be comfortable operating autonomously and demonstrate the ability to form effective relationships and achieve influence at the most senior levels within the organisation
View Details

Risk - Credit - Primary Rating Analyst

Job title:             Primary Rating Analyst

Reports to:         Chief Credit Officer

Contract:            Permanent


Rothesay Life’s Chief Risk Officer has a team that consists of a Head of Market Risk, Chief Compliance Officer, Chief Credit Officer and a Model Risk group. The Credit Risk team’s responsibilities include internal ratings, credit analysis, portfolio analysis, deal review and approval, limits and exposures management, surveillance and counterparty risk.  The team continues to grow in response to Rothesay Life requirements, as the company looks to diversify, with credit being a key area in this.


Responsibilities:

  • Challenging and performing credit analysis on new investment opportunities with a focus on structured credit

  • Developing and maintaining internal credit rating methodologies.

  • Assigning internal credit ratings and preparation of materials for consideration by the company’s Credit and Investment Committee(s).


Risk responsibilities 

  • Evaluating new investments proposed by the asset origination team to identify key credit risks and to challenge deal structures, legal analysis, due diligence and modelling.

  • Developing and updating internal credit methodologies and rating models with a focus on complex structured credit instruments.

  • Conducting financial analysis of credits to assign internal ratings and present well-structured credit recommendations to senior management.

  • Developing investment guidelines and risk limits for Rothesay Life’s investments. 

  • Providing input to the new (partial) internal capital model and assist with securing regulatory approval in the area

  • Developing and maintaining strong relationships with key internal and external stakeholders including the asset origination team, the risk team, senior management, and industry participants.

  • Participating in industry events and staying informed through review of market research in order to monitor market trends and appropriately challenge new investment proposals. 


Skills & Experience:


Required:


  • Minimum 2:1 graded BSc or equivalent from a reputable University.

  • Minimum of 3 years credit risk experience with a range of structured finance assets and/or fixed income markets.

  • Broad experience with quantitative, qualitative, financial and risk management techniques

  • Strong analytical skills and attention to detail with excellent financial modelling skills.

  • Excellent time management and ability to prioritise workload appropriately.

  • A self-starting, pro-active attitude. Operating autonomously and demonstrate the ability to form effective relationships and achieve influence at the most senior levels within the organisation.

  • Strategic awareness and professional maturity enabling to visualise and communicate quantitative and qualitative risks, and their implications firm-wide.



Preferred:


  • Experience of working in an ECAI is preferable.

  • Commercial Real Estate, Project Finance, Infrastructure sector experience.


Competencies:

  • Technical Skills - Demonstrates strong technical skills required for the role, pays attention to detail, takes initiative to broaden his/her knowledge and demonstrates appropriate analytical skills

  • Drive and Motivation – Be a self-starter; successfully handles multiple tasks, takes initiative to improve his/her own performance, works intensely towards extremely challenging goals and persists in the face of obstacles or setbacks

  • Client and Business Focus - Effectively handles difficult requests, builds trusting, long-term relationships with clients and service providers, helps the client to identify/define needs and manages client/business expectations

  • Teamwork – Demonstrate evidence of being a strong team player, collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions 

  • Communication Skills - Communicates what is relevant and important in a clear and concise manner and shares information/new ideas with others

  • Judgement and Problem solving - Thinks ahead, anticipates questions, plans for contingencies, finds alternative solutions and identifies clear objectives.  Sees the big picture and effectively analyses complex issues 

  • Creativity/Innovation - Looks for new ways to improve current processes and develop creative solutions that are grounded in reality and have practical value

  • Influencing Outcomes - Presents sound, persuasive rationale for ideas or opinions.  Takes a position on issues and influences others' opinions and presents persuasive recommendations


View Details

Operations - Liabilities Operations - Reinsurance Transition Analyst

Job title: Reinsurance Transition Analyst

Reports to: Reinsurance Transition Manager

Contract: Permanent

 

Operations Overview

The Operations division is an integral part of the independent control and support structure whose key mandate is to establish and maintain an effective control environment. Robust control and risk management drives our Business. Operations strategy is underpinned by 3 guiding principles - Payments, Policyholders and Data Management. These 3 principles drive our processes and controls, and are essential for reputation, risk/capital management, and TPA management. In addition, Operations provides solutions to new structures, monitors contractual and regulatory obligations and creates efficient and cost saving processes. It is also a member experience unit providing best-in-class policyholder service, client management and TPA management. 

General activities of the operations team include:

  • Act as an independent control over transactions of the Business
  • Trade capture and risk mitigation to ensure bookings are an accurate reflection of business risk
  • Execution and management of lifecycle events
  • Support of project teams in department-wide initiatives
  • Development of technology infrastructure to support the risk management and processing capabilities of transactions

The Rothesay Life Reinsurance Transition Team ensures all new reinsurance activity is appropriately set up internally and at our Third Part Administrators (TPAs) to enable future BAU processing.  Reinsurance trades have varying structures and complexities, and therefore transitioning these deals through to a BAU process involves a tailored approach taking into account best practices and standard procedures.   
This role will suit a person who is a self-starter, creative with process, confident in managing projects to strict deadlines, confident in communicating with a range of internal and external stakeholders, who can work independently as well as being part of a small team, and who is able to communicate effectively and demonstrate initiative. It is key that the candidate understands the role that Operations plays in a financial services firm such that they can ensure processes implemented fit in with the wider scope of the team. The analyst role requires a high level of skill in data manipulation and analysis off-system (using large Excel spreadsheets) so it is important that the candidate can demonstrate project work based on analysing and summarising data.  The candidate must possess an analytical mind-set where they are able to formulate processes that achieve project goals, while also maintaining a controls mind-set.  

The position available gives the candidate a lot of autonomy and it is important that they are driven to deliver against targets whilst managing time and expectations independently.  The role would ideally suit a candidate with 3-4 years’ work experience in the pensions/reinsurance de-risking sector, but is potentially also suitable for a candidate with an Operations/Technology background coming from an investment bank or other financial services company.  Due to the dynamic nature of this role, previous work experience is essential and motivation to move into an implementation role with a challenging remit is sought.

Responsibilities:

  • Working with our TPAs to implement reinsurance contracts, ensuring installations are kept to budget, deadline and all control processes are in place
  • Performing large data reconciliations and following through the query resolution process in order to facilitate the migration of reinsurance data as part of the transition process
  • Contribute to the CRM function for our growing list of reinsurance counterparties, attending client meetings and leading conference calls to maintain dialogue around managing client expectations in terms of timelines and outputs expected
  • Ensuring the initial data cleanse is completed and any data inconsistencies are resolved and documented before promotion of the trade to BAU
  • Ensuring all internal operational processes are set up and handed over to the BAU Team including any collateral provisions
  • Continuously improving and documenting transition ‘best practices’ with a view to standardising transition procedures as much as possible
  • Analysts will be expected to take ownership across multiple transition projects at the same time in a fast paced environment

 

Skills & Experience:

Required:

  • Minimum 2:1 in a degree from a leading university (please note strong candidates with exceptional work experience will also be considered should the degree criteria not be met)
  • Minimum 3 years’ work experience in the financial services space 
  • Ability to multi-task effectively and monitor deliverables and deadlines
  • Ability to communicate effectively and confidently with external and internal stakeholders
  • Understanding of risk controls in an operational environment
  • Accuracy and absolute attention to detail
  • Can demonstrate problem solving ability and considered decision making
  • Ability to summarise and communicate complex data queries
  • Advanced Excel skills - experience of manipulating large data sets is a requisite. Some knowledge of VBA is a preferable, but not essential.
  • Candidate should show an interest in project work focussed around data migration and implementation
  • Desire to work as part of team in a collaborative environment
  • Motivation to deliver above and beyond core functions

Preferred:

  • Strong MS Excel / VBA skills
  • Some pensions, insurance and/or reinsurance knowledge
  • Strong communication skills to clearly articulate status and issues to others
  • Understanding of risk controls in an operational environment, including knowledge of RCSAs

Competencies

  • Technical Skills - Demonstrates strong technical skills required for the role, pays attention to detail, takes initiative to broaden his/her knowledge and demonstrates appropriate analytical skills
  • Drive and Motivation – Be a self-starter; successfully handles multiple tasks, takes initiative to improve his/her own performance, works intensely towards extremely challenging goals and persists in the face of obstacles or setbacks
  • Teamwork – Demonstrate evidence of being a strong team player, collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions 
  • Communication Skills - Communicates what is relevant and important in a clear and concise manner and shares information/new ideas with others
  • Judgement and Problem solving - Thinks ahead, anticipates questions, plans for contingencies, finds alternative solutions and identifies clear objectives.  Sees the big picture and effectively analyses complex issues 
  • Creativity/Innovation - Looks for new ways to improve current processes and develop creative solutions that are grounded in reality and have practical value
  • Influencing Outcomes - Presents sound, persuasive rationale for ideas or opinions.  Takes a position on issues and influences others' opinions and presents persuasive recommendations
View Details

Risk - Operational Risk - Operational Risk Analyst

Job title:          Operational Risk Analyst

Reports to:       Head of Operational Risk 

Contract:          Permanent 

Responsibilities:

  • Assist with the development of operational risk policies and risk management standards.
  • Support key operational risk processes (e.g. Incident Management, RCSA, Scenario analysis, internal model development, reporting).
  • Validate and Challenge the business in its assessment of operational risks and controls.(e.g. during RCSAs, Scenarios).
  • Facilitate and develop the use of key indicators (KRIs / KCIs) including monitoring and reporting.
  • Enhance the firm’s operational risk reporting processes / formats.
  • Monitor and report the firm’s operational risk profile.
  • In time, assist with the development of operational risk capital models.
  • Provide training & support to staff on all operational risk matters.
  • Writing and presenting papers to the relevant governance committees.
  • Undertake any ad-hoc risk management projects and activities as and when required.
  • Deputise for the Head of Operational Risk as required.

Skills & Experience:

Required:

  • BSc in Finance, Mathematics or related disciplines.
  • Minimum of 2 years relevant experience in financial services, ideally in Insurance or Investment Banking.
  • Demonstrable experience with OpRisk frameworks and controls.
  • Ability to tactfully question and challenge stakeholders and colleagues, then present considered views and findings.

Preferred:

  • Knowledge of Insurance operations, in order to be able to question and challenge company staff.
  • Understanding of current risk management environment and modern frameworks.
  • Background knowledge of PRA/FCA financial services regulatory regimes.
  • Experience writing impactful reports for senior stakeholders.
  • Demonstrable interest in computer programming, allowing for increasingly advanced analytics tools to be created and implemented. (Excel VBA, R, Matlab, Python, Java, C++)

Competencies

  • Technical Skills - Demonstrates strong technical skills required for the role, pays attention to detail, takes initiative to broaden his/her knowledge and demonstrates appropriate analytical skills
  • Drive and Motivation – Be a self-starter; successfully handles multiple tasks, takes initiative to improve his/her own performance, works intensely towards extremely challenging goals and persists in the face of obstacles or setbacks
  • Client and Business Focus - Effectively handles difficult requests, builds trusting, long-term relationships with clients and service providers, helps the client to identify/define needs and manages client/business expectations
  • Teamwork – Demonstrate evidence of being a strong team player, collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions 
  • Communication Skills - Communicates what is relevant and important in a clear and concise manner and shares information/new ideas with others
  • Judgement and Problem solving - Thinks ahead, anticipates questions, plans for contingencies, finds alternative solutions and identifies clear objectives.  Sees the big picture and effectively analyses complex issues 
  • Creativity/Innovation - Looks for new ways to improve current processes and develop creative solutions that are grounded in reality and have practical value
  • Influencing Outcomes - Presents sound, persuasive rationale for ideas or opinions.  Takes a position on issues and influences others' opinions and presents persuasive recommendations
View Details

Risk - Market Risk - Market and Liquidity Risk Analyst

Job title: Market & Liquidity Risk Analyst

Reports to: Head of Market Risk

Contract: Permanent

This role is to directly support our Head of Market Risk.  While the role will focus on Market and Liquidity risk, the structure of the company and the team will provide opportunities to delve into other risk types as well as holistically understand how our business functions.  This is an excellent opportunity for a motivated candidate to be part of an exciting growth story. 

Responsibilities:

  • Ad-hoc projects (20%): Deep dives into portfolio positions, risk analysis of upcoming trades, assistance to other functions and any other ad-hoc tasks.
  • Stress testing (15%): To complement probabilistic measures, scenario analysis and stress testing are fundamental risk analysis tools.  The applicant is expected to contribute to development of new and running of existing stress tests and scenarios and analysing the output.
  • Capital Modelling (15%): Knowing how required capital is calculated under Solvency II is key to understanding risks in the portfolio.  The applicant will assist with market risk capital model development over time, supporting other members of the team
  • Reporting (15%): Generating daily, weekly and monthly reports and information packs and understanding the numbers and change drivers are an essential part of any risk manager’s job.
  • Policy & Other Documents (10%): Having well documented processes and procedures is important for smooth running of the function.  The applicant will contribute to this effort along with all other colleagues.
  • Representing the function (10%): formally in working groups and committees and informally to colleagues communicate the function’s position.
  • Research (10%): Market risk analyst is expected to stay on top of market news and developments via research, self-study and networking.
  • Limit Setting & Monitoring (5%): Converting the firm’s risk appetite into concrete limits and then monitoring those limits, alerting risk-takers and senior risk colleagues to breaches or high utilisations.

Skills & Experience:

Required:

  • BSc in a numerate discipline (e.g. STEM, Finance, Economics).
  • Minimum 1 years relevant experience in financial services, either Buy or Sell-side.
  • If graduate level, demonstrable ability to deliver in a workplace environment, most likely through successful internship placements.
  • Demonstrable enthusiasm for the job and the financial markets.
  • Inquisitive, able to learn on one’s own and absorb new information quickly.
  • Both numerate and able to communicate clearly both orally and in writing

Preferred: 

  • Experience with Fixed Income instruments.
  • Experience in Financial Services (either buy- or sell- side)
  • Operations and/or Liquidity risk experience a plus
  • CFA (or another professional designation) or demonstrable progress towards one
  • Demonstrable interest in computer programming (Excel VBA, R, Matlab, Python, Java, C++)

Competencies

  • Technical Skills - Demonstrates strong technical skills required for the role, pays attention to detail, takes initiative to broaden his/her knowledge and demonstrates appropriate analytical skills
  • Drive and Motivation – Be a self-starter; successfully handles multiple tasks, takes initiative to improve his/her own performance, works intensely towards extremely challenging goals and persists in the face of obstacles or setbacks
  • Client and Business Focus - Effectively handles difficult requests, builds trusting, long-term relationships with clients and service providers, helps the client to identify/define needs and manages client/business expectations
  • Teamwork – Demonstrate evidence of being a strong team player, collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions 
  • Communication Skills - Communicates what is relevant and important in a clear and concise manner and shares information/new ideas with others
  • Judgement and Problem solving - Thinks ahead, anticipates questions, plans for contingencies, finds alternative solutions and identifies clear objectives.  Sees the big picture and effectively analyses complex issues 
  • Creativity/Innovation - Looks for new ways to improve current processes and develop creative solutions that are grounded in reality and have practical value
  • Influencing Outcomes - Presents sound, persuasive rationale for ideas or opinions.  Takes a position on issues and influences others' opinions and presents persuasive recommendations
View Details

Risk - Credit - Senior Credit Officer

Job title: Senior Credit Officer

Reports to: Chief Credit Officer

Contract: Permanent

Rothesay Life’s Chief Risk Officer has a team that consists of a Head of Market Risk, Chief Compliance Officer, Chief Credit Officer and a Model Risk group. The Credit Risk team’s responsibilities include internal ratings, credit analysis, portfolio analysis, deal review and approval, limits and exposures management, surveillance and counterparty risk.  The team continues to grow in response to Rothesay Life requirements, as the company looks to diversify, with credit being a key area in this.

Responsibilities:

  • Continuously improve the basic infrastructure of the credit function to a ‘world class’ standard. This includes developing and implementing a clear policy suite, a system for review of credit decisions and ensuring this is all complimentary with the entrepreneurial culture of the business.
  • Demonstrate real value by feeding into and pro-actively engaging with the business on key areas and providing commercial benefit to it.
  • Provide significant input to the new (partial) internal capital model and assist with securing regulatory approval in this area.
  • Demonstrate strong emotional intelligence alongside the team ensuring the right culture and dynamic exists.
  • Worked as a trusted partner with the wider business with a depth of credit risk experience.

Skills & Experience:

Required:

  • 8+ years experience in a major investment bank or investment firm
  • Eperience evaluating credit investment opportunities in Europe and North America
  • Experience evaluating loan and capital market investments
  • Experience evaluating derivative transactions
  • Experience evaluating, structuring and underwriting global corporate bonds, global corporate loans, US municipal bonds, North American 
  • Structured credit, and European structured Credit
  • Experience with both investment and sub-investment grade credits
  • Experience with workouts and restructuring
  • Experience designing appropriate models for investment, portfolio management and stress testing
  • Experience conducting portfolio and investment stress testing
  • Experience building rating criteria for corporate, municipal and structured credit investments
  • Experience liaising with regulators

Competencies

  • Technical Skills - Demonstrates strong technical skills required for the role, pays attention to detail, takes initiative to broaden his/her knowledge and demonstrates appropriate analytical skills
  • Drive and Motivation – Be a self-starter; successfully handles multiple tasks, takes initiative to improve his/her own performance, works intensely towards extremely challenging goals and persists in the face of obstacles or setbacks
  • Client and Business Focus - Effectively handles difficult requests, builds trusting, long-term relationships with clients and service providers, helps the client to identify/define needs and manages client/business expectations
  • Teamwork – Demonstrate evidence of being a strong team player, collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions 
  • Communication Skills - Communicates what is relevant and important in a clear and concise manner and shares information/new ideas with others
  • Judgement and Problem solving - Thinks ahead, anticipates questions, plans for contingencies, finds alternative solutions and identifies clear objectives.  Sees the big picture and effectively analyses complex issues 
  • Creativity/Innovation - Looks for new ways to improve current processes and develop creative solutions that are grounded in reality and have practical value
  • Influencing Outcomes - Presents sound, persuasive rationale for ideas or opinions.  Takes a position on issues and influences others' opinions and presents persuasive recommendations
View Details

Trading - Junior Quantitative Credit Risk Trader

Job title: Junior Quantitative Credit Risk Trader

Reports to: Senior Trader

Contract: Permanent

The quantitative credit risk trading team sits within Rothesay Life’s wider trading team, and also works closely with our structuring, quant, capital and risk teams, with the directive of taking ownership of the credit risk across Rothesay Life for new and existing asset opportunities. 
Quantitative credit risk trading is a new function at Rothesay life, created within the last 6 months, and is continuing to evolve; it offers a great growth-opportunity for strong, highly motivated candidates. 
In general, we are looking for smart, commercial applicants with an excellent academic record, strong quantitative and problem-solving abilities and a high degree of adaptability, with a genuine intellectual curiosity to expand their existing skillset. 
The focus of the role will be a combination of quantitative analysis / problem-solving on the one hand, and commercial Trading views / risk-taking on the other hand, and will help drive Rothesay Life’s strategy for managing credit risk across its investment book (rather than, for example, acting as execution trader for hedging credit exposure through CDS and similar instruments).

Responsibilities:

The quantitative credit risk trading role will expose you to Credit risk on a wide range of exotic and vanilla fixed income investments across Rothesay Life’s business. These asset classes may range from illiquid products such as Commercial Real Estate lending, bilaterally negotiated secured financing trades, Equity Release Mortgages and other esoteric asset classes, to more liquid products such as vanilla corporate bonds. Familiarity with all of these products is not expected, though some expertise in one or more areas will be beneficial. 

The role will involve analysing and managing this Credit exposure, for which a good balance of strong quantitative abilities and commercial mind-set will be required. This work will be an important aspect of Rothesay Life’s business strategy, both in helping to manage the existing asset back-book and also as an important consideration in the process for originating and structuring new investments. 
Because the role is relatively new, you will have some flexibility to focus on projects that interest you, under the expectation that you may get involved with multiple different business areas as your expertise develops.

The on-the-desk training will be demanding and will require you to undertake challenging project and day-to-day work that will extend your skills, and give you direct access to other members of the multi-disciplined Rothesay Life trading and asset origination teams, with whom you will work closely.

Skills & Experience:

Required:

  • Minimum 2 years’ relevant work experience, demonstrating a strong track record within an asset manager, bank trading team or similar. (Recent graduates who are exceptionally strong applicants may also be considered)
  • Either experience applying quantitative finance techniques or experience in modelling real assets (e.g. CRE or Infrastructure), with a view to managing Rothesay Life’s credit risk exposure
  • Hold a 2:1 or equivalent degree from a leading university in a relevant or highly quantitative subject, with a preference for mathematics, finance, physics, or similar 
  • Be fluent in English so that you can demonstrate excellent verbal and written communication skills for sharing and explaining your work to others
  • Be able to demonstrate commitment and enthusiasm for working in a trading team, and intellectual curiosity for learning new skills and expanding knowledge of asset classes

Competencies:

 

  • Technical Skills - Demonstrates strong technical and analytical skills, including a very strong hands-on grasp of Excel, with a particular focus on cashflow modelling, risk analysis and creative problem solving. Pays attention to detail, and takes initiative to continually broaden his/her knowledge 
  • Drive and Motivation – Be a self-starter; successfully handles multiple tasks, takes initiative to improve his/her own performance, works intensely under time pressure towards extremely challenging goals and persists in the face of obstacles or setbacks
  • Commercial Awareness – Sees the big picture alongside the quantitative analysis; effectively and pragmatically analyses complex issues
    Judgement and Problem solving - Thinks ahead, anticipates questions, plans for contingencies, finds alternative solutions and identifies clear objectives
  • Teamwork – Demonstrate evidence of being a strong team player, collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions 
  • Communication Skills - Communicates what is relevant and important in a clear and concise manner and shares information/new ideas with others
  • Creativity/Innovation - Looks for new ways to improve current approaches and develop creative solutions that are grounded in reality and have practical value
  • Influencing Outcomes - Presents sound, persuasive rationale for ideas or opinions. Takes a position on issues and influences others' opinions and presents persuasive recommendations
View Details

Trading - Junior Trader

Job title: Trader

Reports to: Head of Trading

Contract: Permanent

The trading team work closely with our structuring, capital, risk and quant teams, analysing asset opportunities, pension fund buyout trades, and managing the company-wide market risks. In general, we are looking for smart, quantitative, commercial, problem-solving-oriented, “get-things-done” candidates with an excellent academic record and a genuine interest in fixed income markets.

Responsibilities:

You will be exposed to trading in derivatives across interest, inflation and cross-currency markets, as well as managing the asset book, with the view of gravitating towards work you are most interested in and perform at the highest level. The training you will undertake is high in intensity and will require you to undertake challenging project and day-to-day work that will extend your skills, and give you direct access to the high calibre multi-disciplined Rothesay trading team. 

Skills & Experience:

Required:

  • Have at least 4yrs highly relevant work experience for this role, demonstrating a strong track record within an asset manager or bank trading team. 
  • Have had exposure to, and experience in, trading interest rate or inflation vol markets.
    In-depth experience in gamma markets, primarily with regards to the optimal use of delta hedging strategies.
  • Hold a 2:1 or equivalent degree from a leading university in a relevant highly quantitative degree such as mathematics, economics, finance, or related scientific area. 
  • Be fluent in English so that you can demonstrate excellent verbal and written communication skills for sharing and explaining your work to others.  
  • Be able to demonstrate commitment and enthusiasm for working in a trading team. 

Competencies

  • Technical Skills - Demonstrates strong technical skills required for the role, pays attention to detail, takes initiative to broaden his/her knowledge and demonstrates appropriate analytical skills
  • Drive and Motivation – Be a self-starter; successfully handles multiple tasks, takes initiative to improve his/her own performance, works intensely towards extremely challenging goals and persists in the face of obstacles or setbacks
  • Client and Business Focus - Effectively handles difficult requests, builds trusting, long-term relationships with clients and service providers, helps the client to identify/define needs and manages client/business expectations
  • Teamwork – Demonstrate evidence of being a strong team player, collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions 
  • Communication Skills - Communicates what is relevant and important in a clear and concise manner and shares information/new ideas with others
  • Judgement and Problem solving - Thinks ahead, anticipates questions, plans for contingencies, finds alternative solutions and identifies clear objectives.  Sees the big picture and effectively analyses complex issues 
  • Creativity/Innovation - Looks for new ways to improve current processes and develop creative solutions that are grounded in reality and have practical value
  • Influencing Outcomes - Presents sound, persuasive rationale for ideas or opinions.  Takes a position on issues and influences others' opinions and presents persuasive recommendations
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Operations - Liabilities Operations - TPA Manager

Job title: Operations TPA Manager

Reports to: Operations Manager

Contract: Permanent

Operations Divisional Overview

The Operations division is an integral part of the independent control and support structure whose key mandate is to establish and maintain an effective control environment. Robust control and risk management drives our Business. Operations strategy is underpinned by 3 guiding principles- Payments, Policyholders and Data Management. These 3 principles drive our processes and controls, and are essential for reputation, risk/capital management, and TPA management. In addition, Operations provides solutions to new structures, monitors contractual and regulatory obligations and creates efficient and cost saving processes. It is also a member experience unit providing best-in-class policyholder service, client management and TPA management. 

General activities of the operations team include:

  • Act as an independent control over transactions of the Business
  • Trade capture and risk mitigation to ensure bookings are an accurate reflection of business risk
  • Execution and management of lifecycle events
  • Support of project teams in department-wide initiatives
  • Development of technology infrastructure to support the risk management and processing capabilities of transaction

The TPA Management Team ensures our TPAs (a) provide a best-in-class policyholder experience to protect our reputation, and (b) maintain accurate data as this feeds directly into our risk management model. 

This role will suit a person who is a self-starter, creative with process, confident in managing projects to strict deadlines, confident in communicating with a range of internal and external stakeholders, who can work independently as well as being part of a small team, and who is able to communicate effectively and demonstrate initiative. It is key that the candidate understands the role that Operations plays in a financial services firm such that they can ensure processes implemented fit in with the wider scope of the team. 

The position available gives the candidate a lot of autonomy and it is important that they are driven to deliver against targets whilst managing time and expectations independently. The role would ideally suit a candidate with +7/8 years’ work experience in the pensions sector.  Due to the dynamic nature of this role, previous work experience is essential.


Responsibilities:

  • Manage performance of third party administrators - SLAs / KPIs, delivery against initiatives
  • Deliver first-class member/policyholder service (including active TCF engagement)
  • Perform operational reviews and audits of processes and calculations
  • Compliance and complaints management
  • Coordinate and implement key strategic initiatives
  • Cost and budget management
  • Efficiency drives - continuous improvement initiatives focussing on processes and core controls
  • Client relationship management
  • Keep abreast of legislative and industry practice changes and implement these in the business

Skills & experience:

Mandatory:

  • Possess a degree from a leading university in a relevant subject and/or have relevant industry qualifications
  • Pensions knowledge
  • Strong understanding of risk management and control principles
  • Accuracy and absolute attention to detail
  • Ability to manage multiple tasks across and stay focused on the operational risks
  • Strong Excel skills
  • Project management experience
  • Ability to manage own workload and work as part of a team

Preferred:

  • Good pensions, insurance and/or reinsurance experience
  • Knowledge and understanding of the longevity risk market (eg: buy-outs, buy-ins, longevity swaps, reinsurance)
  • Experience of third party administration - processes, procedures, management
  • Ability to analyse complex documentation and summarise key operational controls required to risk manage transactions
  • Very strong communication skills with ability to clearly articulate issues to senior management

Competencies

  • Technical Skills - Demonstrates strong technical skills required for the role, pays attention to detail, takes initiative to broaden his/her knowledge and demonstrates appropriate financial/analytical skills
  • Drive and Motivation – Be a self-starter; successfully handles multiple tasks, takes initiative to improve his/her own performance, works intensely towards extremely challenging goals and persists in the face of obstacles or setbacks
  • Client and Business Focus - Effectively handles difficult requests, builds trusting, long-term relationships with clients and service providers, helps the client to identify/define needs and manages client/business expectations
  • Teamwork – Demonstrate evidence of being a strong team player, collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions 
  • Communication Skills - Communicates what is relevant and important in a clear and concise manner and shares information/new ideas with others
  • Judgement and Problem solving - Thinks ahead, anticipates questions, plans for contingencies, finds alternative solutions and identifies clear objectives.  Sees the big picture and effectively analyses complex issues 
  • Creativity/Innovation - Looks for new ways to improve current processes and develop creative solutions that are grounded in reality and have practical value
  • Influencing Outcomes - Presents sound, persuasive rationale for ideas or opinions.  Takes a position on issues and influences others' opinions and presents persuasive recommendations
View Details

Strats - Quantitative Analyst

Job title: Strats – Quantitative Analyst
Reports to: Head of Strats
Contract: Permanent


Responsibilities:
Strategists occupy the intersection of finance, markets, maths, computer science, and programming. Working side by side with the firm’s trading, sales, banking and investment management professionals, members of the business unit use their mathematical and scientific training to create financial products, advise clients on transactions, measure risk and identify market opportunities. 

Our quantitative analysts focus on the pricing and risk management of pension fund buyout trades, and associated asset strategies. In particular, we are looking for someone to work on a large project, implementing pricing, analysis and risk management systems for Rothesay Life. 

In our daily work, we work closely with our traders and structuring teams, analysing trades and asset origination opportunities for execution and ongoing measurement and management. We provide a comprehensive set of risk reports and pricing tools for the team, and are an integral part of the risk management of Rothesay Life. In general, we are looking for smart, quantitative, commercial, problem-solving-oriented, “get-things-done” candidates with a proven track record of delivering robust, high performance software and quantitative analyses and with either experience in financial markets or a keen interest to learn about them. 

Skills and Experience:

Required:

Advanced quantitative skills (typically evidenced by a degree in maths, physics, computer science, engineering, etc.) 
Demonstrable excellent in applied programming skills - Java, C, C++ or other major language. 
Demonstrable, applied expertise in creating and validating pricing and/or risk models for use in a financial services organisation.
Knowledge of financial mathematics and stochastic calculus.


Preferred:

Deep understanding of Fixed Income products and derivatives.
A broad understanding of model risk, bringing new approaches and processes to Rothesay Life.
Expertise programming in C++, Python or Slang.
Knowledge and experience in Athena, Beacon or SecDB.


Competencies
Technical Skills - Demonstrates strong technical skills required for the role, pays attention to detail, takes initiative to broaden his/her knowledge and demonstrates appropriate analytical skills
Drive and Motivation – Be a self-starter; successfully handles multiple tasks, takes initiative to improve his/her own performance, works intensely towards extremely challenging goals and persists in the face of obstacles or setbacks
Client and Business Focus - Effectively handles difficult requests, builds trusting, long-term relationships with clients and service providers, helps the client to identify/define needs and manages client/business expectations
Teamwork – Demonstrate evidence of being a strong team player, collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions 
Communication Skills - Communicates what is relevant and important in a clear and concise manner and shares information/new ideas with others
Judgement and Problem solving - Thinks ahead, anticipates questions, plans for contingencies, finds alternative solutions and identifies clear objectives.  Sees the big picture and effectively analyses complex issues 
Creativity/Innovation - Looks for new ways to improve current processes and develop creative solutions that are grounded in reality and have practical value
Influencing Outcomes - Presents sound, persuasive rationale for ideas or opinions.  Takes a position on issues and influences others' opinions and presents persuasive recommendations

View Details
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