Derivative Manager

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ROLE OVERVIEW

Individual contributing to the management and execution of derivative strategies and solutions-driven investment portfolios across the Group's insurance balance sheets. Working within the Balance Sheet Solutions & Derivatives team, the role supports activities across risk management, regulatory compliance, and balance sheet optimisation, helping to deliver effective hedging and investment solutions.

Working closely with colleagues across risk, investments, actuarial, finance, and operations, the role assists in translating agreed strategies into execution. Responsibilities include supporting trade execution, monitoring derivative and collateral positions, coordinating with internal stakeholders and external counterparties, and contributing to reporting, governance, and operational processes. The role provides an opportunity to develop expertise across the full derivatives lifecycle while helping to maintain strong risk management, control standards, and operational efficiency.

KEY RESPONSIBILITIES

• Support the management of the Group's derivative portfolio across cleared and uncleared instruments, including hedging, repos, funding solutions, repacks, and structured transactions, ensuring adherence to relevant regulatory requirements.
• Assist in the implementation and execution of derivative strategies aligned with balance sheet objectives, risk appetite, and regulatory constraints, including solutions supporting M&A and reinsurance transactions.
• Support the end-to-end trade lifecycle, including pre-trade analysis, execution, confirmation, validation, and ongoing monitoring of derivative exposures, market developments, and hedge effectiveness.
• Assist in the management of collateral and liquidity activities across CSAs, including margining, reconciliation, eligibility monitoring, governance, and process improvements.
• Prepare and maintain risk, liquidity, collateral, and performance reporting, providing accurate and timely analysis to support decision-making and stakeholder requirements.
• Build effective relationships with internal stakeholders across risk, investments, actuarial, finance, legal, and operations, as well as external counterparties including banks, custodians, clearing houses, and execution providers.
• Contribute to the enhancement of execution processes, controls, operating models, systems, and provider oversight to improve efficiency, scalability, and governance.
• Work closely with the Derivative Oversight Manager and wider team to ensure accurate reporting, strong governance, and compliance with derivative and insurance regulatory frameworks.

EXPERIENCE & QUALIFICATIONS

• Relevant experience in derivatives within insurance, asset management, investment banking, or a related financial services environment, with exposure to the execution and management of derivative and structured strategies (typically 4-8 years).
• Good technical understanding of derivative instruments, collateral management, and associated market practices.
• Experience supporting derivative portfolios, including trade execution, lifecycle management, collateral processes, and related regulatory or reporting requirements.
• Bachelor's degree in a quantitative or analytical discipline (e.g., Mathematics, Physics, Engineering, Computer Science, or similar). Advanced degrees are advantageous.
• Strong analytical and numerical skills, including advanced Excel; experience with Python, SQL, C#, or similar tools is beneficial.
• Proficiency with market data platforms (e.g. Bloomberg) and ability to source, interpret, and validate market and security data
• Good understanding of insurance balance sheets and ALM considerations, with working knowledge of regulatory and accounting frameworks; multi-jurisdictional experience advantageous
• Strong problem-solving, organisational, and communication skills, with the ability to manage deliverables end-to-end and effectively engage and influence stakeholders
• Experience improving processes, controls, and analytics through automation and standardisation; familiarity with derivative management systems advantageous
• Professional qualifications (e.g. CFA, CQF, FRM, Actuarial) or progress toward them desirable

#Hybrid #London