The role will be within the Investments (Mortgages, Housing) & Risk Sharing Team, reporting to the Investment Director – Risk Sharing with an initial focus on expanding securitised investments (“CLO”) in direct lending / middle-market lending / leverage loans. The role holder will integrate their existing CLO and loan market expertise into the team and manage the origination, structuring and execution and portfolio management of CLO-style and other securitised investments 

• Execute complex transactions making sure all bases are covered (pricing, credit, operations, tax, legal, KYC). To be accountable for economic, credit and execution risk in regard to transactions.
• Review assets and portfolios of assets from credit perspective and assess merits of assets / portfolios of assets relative to the market and other investments. Including being responsible for the ongoing monitoring of investments, to ensure that early warning signs are picked up and communicated.
• Distinguish the more attractive investment opportunities from a range of those proposed either internally or by asset managers / banks for a UK insurers balance sheet. To provide better balance sheet metrics for the business.
• Prepare investment ideas and recommendations for committees based on analysis of data received to stakeholders across the business. To ensure that these are clearly communicated, and conclusions determined in a considered way so appropriate business decisions can be made. Accountable for the decisions made by committees.     
• Review and put together term sheets for investment ideas to back annuity liabilities in order to improve PRT pricing. 
• Stratify assets portfolio in excel and identify trends/ weaknesses in the underlying assets data. Alongside building cashflow models in excel to develop the cashflows profiles that optimise the economics.
• Deal with ad-hoc requests from other teams / management either to support projects and or reporting to ensure ongoing performance of the business.
• Ensure that the principles of Conduct Risk and Treating Customers Fairly (TCF) are embedded into your day to day operations to deliver good customer outcomes at all times. Ensure that all business processes and internal controls within your role are designed and performed in a way that delivers good customer outcomes and demonstrates effective management of Conduct Risk.

• Understanding of credit risks and be able to derive appropriate assumptions to fairly haircut cashflows when assessing such risks. 
• An understanding of how to assess relative value of assets with different credit risks.
• Will have experience of securitisation / structured finance preferably in CLO although other asset classes acceptable. Experience in SII also beneficial.
• An understanding of key credit risks in respect to leverage loans / middle-market loans and what to look for as an indicator of deteriorating credit risk and key metrics that that act a bellwether for performance.
• Highly proficient in excel and cashflow modelling. Ability to quickly review data tapes and provide analysis is required alongside the ability to build complex cashflows models that integrate rating methodologies / cashflow triggers (such skills will be tested).
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• Highly proficient in PowerPoint and be able to communicate complex deals to committees in a clear and understandable way.  
• A problem solving / creative / can do attitude, to try and make new investment ideas work even where experience / initial observations make proposals look difficult.
• A balanced approach to investment underwriting (being able to see both the merits and risks of investments).
• Be willing to work on different types of assets (whilst noting the immediate focus will be “CLO”) e.g. leverage loans, mortgages, reverse mortgages, real estate and have a first principles approach to assessing.  

When you commit to Legal & General, we’ll commit to you too. That means we’ll recognise and reward your hard work, your performance and your contribution.

If you join us, you’ll get access to some great benefits, including private medical insurance, 27 days holiday (excluding bank holidays), a generous pension scheme, life assurance, and Income Protection. You can participate in our electric car scheme, which offers employees the option to hire a brand new electric car through tax efficient salary sacrifice. We’re also proud to offer competitive family leave. 

You’ll have the opportunity to participate in our annual, performance-related bonus plan and valuable share schemes. And then there are the many discounts we offer that you can take advantage of – both for our own products and at a range of high street stores and online offerings.