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About the Role

The Head of Investment Risk provides independent second line oversight and challenge of investment activities, including strategy, portfolio construction, and new asset initiatives. The role ensures investment activity aligns with the business model as a UK retirement income insurer, operates within risk appetite and regulatory requirements, and supports long-term policyholder obligations.

Responsibilities

• Provide independent second line oversight and challenge of investment strategy, strategic asset allocation, and portfolio construction.
• Review and challenge proposals for new asset classes, complex transactions, and material changes to investment activity.
• Assess the effectiveness of first line processes for identifying, measuring, monitoring, and managing investment risks.
• Evaluate investment risks across credit, market, liquidity, capital, valuation, and operational risk dimensions.
• Review and challenge investment risk methodologies, stress testing, scenario analysis, and risk monitoring frameworks.
• Assess the appropriateness of investment risk limits, tolerances, and triggers to ensure alignment with risk appetite.
• Provide clear, balanced, and evidence-based risk opinions to senior management and governance committees.
• Escalate material concerns where activities fall outside risk appetite, governance standards, or regulatory expectations.
• Maintain second line oversight of distressed assets and workout activity.
• Collaborate with Investment teams and Risk colleagues to support effective and consistent investment risk management.

Requirements

• Significant experience in investment risk, credit risk, investment oversight, or a related discipline within insurance, asset management, banking, or financial services.
• Strong understanding of investment strategy, portfolio construction, and investment risk management, including complex and illiquid assets.
• Good understanding of the needs of a UK retirement income insurer, including liability matching, capital considerations, and policyholder obligations.
• Experience providing effective review and challenge of investment proposals, risk assessments, methodologies, and governance papers.
• Strong analytical skills with the ability to assess complex issues and translate them into clear, practical insights.
• Excellent communication and stakeholder management skills with the ability to influence and challenge constructively at senior management levels.
• Experience with private credit, structured credit, securitisations, or other complex investment asset classes.
• Understanding of Matching Adjustment requirements, Solvency UK, and investment governance expectations for UK insurers.
• Experience working within a second line risk function or three lines of defence framework.
• Relevant professional qualification, such as CFA, FRM, actuarial, or equivalent.

Skills

• Investment risk management
• Credit risk analysis
• Portfolio construction
• Strategic asset allocation
• Risk methodology and stress testing
• Stakeholder management
• Analytical skills
• Communication and influencing

Location

• London
• Hybrid 50%

Work Type

• Permanent
• Full time
• 35 hours

Education Level

• CFA, FRM, actuarial, or equivalent professional qualification

Salary/Compensations

• Competitive salary

Benefits

• Pension scheme
• Life assurance
• 25 days annual leave plus birthday day
• Private medical cover
• Income protection
• Bonus scheme
• Career progression opportunities
• Headspace app access
• 24/7 employee assistance helpline
• Access to trained physical and mental health first aiders
• Employee funded benefits via online portal

About the Company

• Just is a UK retirement income insurer.
• The company culture is ambitious, curious, and collaborative.

Equal Opportunity

• Committed to HM Treasury Women in Finance Charter and Race at Work Charter targets.
• Supports employee networks and events championing intergenerational working, social mobility, and neurodiversity.
• Values diversity of thought and fosters a sense of belonging.