Investment Operations Manager

Job content

Company Description

LGPS Central (LGPSC) Ltd is the FCA-regulated asset manager for eight local authority pension funds across the Midlands. LGPSC is jointly owned on an equal shares basis by those Partner Fund, and it is responsible for managing almost £30bn of their assets. It is one of eight Local Government Pension Scheme (LGPS) asset pools in the UK. LGPSC has just celebrated its fifth birthday, and in those first five years, together with its Partner Funds, it has achieved a considerable amount.

LGPS Central’s Partner Funds are:

• Cheshire Pension Fund
• Derbyshire Pension Fund
• Leicestershire Pension Fund
• Nottinghamshire Pension Fund
• Shropshire Pension Fund
• Staffordshire Pension Fund
• West Midlands Pension Fund
• Worcestershire Pension Fund

LGPS Central is owned equally by all eight of its Partner Funds and is dedicated to the management of local government pension assets. LGPS Central manages assets across public and private markets both internally and through externally appointed investment managers.

The Company is committed to responsible investment and has made responsible investment a core part of the investment process in every asset class.

LGPS Central offers a friendly and diverse, hybrid-working environment with a range of employee benefits. The Company moved to new premises at i9, Wolverhampton Interchange in January 2022, close to local transport links.

Position

We are looking for an experienced Investment Operations Manager to join our Investment Operations team. Based in Wolverhampton, the successful candidate will work as part of the Operations team to contribute towards delivering a high-performing Operational support to the firm’s investment activities in an exciting environment. The successful candidate will report to the Head of Operations.

The Investment Operations team plays a critical role in the delivery of Middle and Back Office and Operational support to the firm’s Investment Managers, both as part of BAU and delivery of new business and strategic objectives for the wider firm and its’ clients.

As part of the Investment Operations team the role will play a key part in ensuring an effective and efficient Operational support. The appointee will oversee key investment support processes and delivery of excellent service to internal and external stakeholders and clients. The role supports the execution of operational services as well as outsourced activities and suppliers and covers all aspects of Middle and Back office activities for LGPS Central Limited.

The Investment Operations Manager is expected to participate in carrying out third party oversight for LGPS Central.

The role holder will be required to oversee the activities of the delegated functions including outsourced Fund Administration and Investment Management. The role requires multiple competencies, relationship building skills, third party oversight, risk management and service improvement.

Outcomes:

• Assist the Head of Operations in meeting operational targets of assets managed by LGPS Central Limited.
• Authorise and review work entered into systems used.
• Ensure all daily/weekly tasks are carried out as per internal policies and procedures, ensure that relevant compliance or regulatory requirements are met, and that evidence of completion is retained.
• Play a significant role in oversight of external outsourced vendors, Custodian, Fund Accountant, Transfer Agent and Outsourced Middle Office. Participate in calls, service reviews, provide feedback as required.
• Participate in new fund and product launches, input into design of operational framework and controls.
• Comfortable working on multiple tasks with short and longer-term deadlines.
• Introduction of robust controls and sign offs to reduce operational risk within the department.
• Responsible for the preparation and maintenance of the departments procedures keeping them current incorporating any system service or product changes.
• Dealing with queries from all levels of the organisation ensuring a rapid response and resolution and effective escalation as and when required.
• Keeping the number of exceptions to minimum and keep Senior Managers informed of any ongoing issues.
• Drive a service quality mindset across the operating model and to recommend operating model improvements as required strategy and objectives.

Requirements

• Substantial Middle and Back Office experience. Asset classes supported in the team include Equities, Fixed Income, OTD & ETD Derivatives, Private Equity/Debt and Property, knowledge of some of these is essential.
• Good understanding of Transfer Agency, Fund Accounting, Custody and Depositary functions.
• Exercise own good judgement, escalates as appropriate.
• Challenge conventions constructively.
• Excellent knowledge of several asset classes and pension fund administration.
• Maintain own professional development.
• First line point of escalation.
• Some supervisory experience.
• Comfortable communicating at all levels.
• Able to prioritise based on risk and potential impact.
• Third Party vendor management experience is required.
• A well-developed understanding of the asset management industry, funds, products and outsourced investment administration.
• Able to operate in thinking strategically and tactically
• Strong Organisational process driven, with high levels prioritisation, accuracy and attention to detail.
• Excellent interpersonal, influencing and communicating skills.

Qualifications:

• IOC or equivalent
• Degree level

What do we offer?

We are proud to provide our people with a premium and exclusive benefits package and we are continually improving the rewards we offer. Here are a few of the valuable rewards that you will enjoy:

• Competitive salary
• An enhanced and generous Pension Scheme
• 30 days’ paid holiday plus bank holidays
• 2 days paid volunteering days
• An extra paid Company Day in addition to paid holidays
• Excellent Learning & Development Opportunities
• Welfare and Family-friendly policies
• Enhanced pay for new parents
• Access to our Employee Assistance Programme - 24-7 Health & Wellbeing Support
• Medical Health Cash Plan
• Hybrid Working
• Company Service Awards
• Cycle to Work Scheme
• Company Electric Vehicle Scheme
• Brand New Office Space
• Nominees of the Family Friendly Employer of the Year 2022 - Personnel Today Awards 2022
• Winner of the Cultural Awareness Initiative of the Year - FT Advisors Diversity in Finance Awards 2023
• Winner of Diversity and Inclusion Award - LAPF In Investments Award 2023