Head: Investments Unit
We have an exciting opportunity for a Head of Investments Unit to ensure the effective and timely implementation of the investment strategy and the ongoing management of the investment portfolio. The role requires the portfolio construction of the underlying asset classes of the strategy and the selection, appointment, on-boarding and monitoring of external asset managers.
Key Performance Areas:
Provide asset class portfolio construction parameters and asset manager specifications to implement the investment strategy, with market analysis to support recommendations.
Define the asset allocation, investment guidelines and portfolio construction being cognisant of insurance liabilities, risk appetite and solvency framework.
Compile asset manager investment guidelines to reflect each manager’s investment process and style, and the ex?ante expectations in terms of risk taken and value added versus the benchmark.
Setting and reviewing the investment philosophy and strategy for the corporation’s local and offshore investment portfolio, while being cognizant of insurance liabilities, applicable regulations, risk appetite and solvency framework.
Perform required asset modelling/analyses to inform the investment strategy.
Manage and monitor performance of investment consultant, custodian, and other external service providers.
Day?to?day management of investment activities and reporting regularly to the Chief Actuarial and Investment
Efficient and timeous execution of the investment processes with proper planning and prioritising of tasks.
Conduct together with the actuarial unit an asset/liability study to inform the investment strategy.
Liaise with the corporation’s asset consultant to deliver required asset manager and portfolio construction research.
Implementation of investment strategy
Adequate selection, appointment, onboarding asset managers.
Prepare tender, evaluation and selection criteria for the appointment of new asset managers in line with the corporation’s procurement policies.
Liaise with incoming and outgoing asset managers, the asset consultant and the custodian to propose, plan and execute asset transitions and provide reconciliation reports thereof.
Ensure adherence to investment policy statement and investment mandates by asset managers.
Monitor asset managers by way of performance report backs, due diligences, manager scoring and evaluations and contract management assessments. Report evaluation outcomes and recommendations to various committees.
Manage fund manager allocations in line with IPS to achieve investment objectives whilst ensuring that it is within approved risk parameters.
Manage corporation’s required liquidity and cash flow needs and resulting in and out flows of fund manager portfolios and portfolio rebalancing.
Undertake performance evaluations of the portfolios and all the underlying contributors to performance.
Monitoring asset manager compliance with investment guidelines.
Manage investment unit risks to enable the corporation to mitigate enterprise-wide risks.
Ensure compliance with all investment risk related policies (e.g., IPS, Risk Strategy document).
Work with the actuarial, finance and risk units to ensure regulatory compliance and to prepare required reporting to regulators.
Achievement of investment performance targets within risk limits
Assist in necessary stress-testing of the investment portfolio as part of the Own Risk and Solvency Assessment (ORSA).
Managing the investment team and setting up the function’s investment processes, policies, systems and reporting tools.
Set clear performance goals for direct reports ensuring the achievement of unit objectives.
Timeous and high-quality reports and proposals to management and the board committees
Efficient management of the unit’s operational and investment related expenses
Forecasting the investment portfolio, expected investment returns and expenses as part of the firm’s budgeting process and strategy planning.
An Honour’s degree in Financial Management, Accounting, Investment Management, Actuarial science, or any other relevant field.
CFA qualification is a requirement.
Minimum of 7 years’ experience in investment environment.
Knowledge of market systems (e.g., Bloomberg) and asset modelling software will be an advantage.
Experience in the insurance industry will be an advantage.
Knowledge of government related procurement processes, policies and Acts will be an advantage.
Skills and Abilities:
Should demonstrate the following competencies:
Ability to perform well under pressure and show maturity, confidence and resilience.
Ability to work independently.
Excellent listening, communication and interpersonal skills
Pro-active approach to work, clients, problem solving.
Learning agility and curiosity
Passionate ownership for results
Team player with leadership capabilities