Senior Director, Portfolio Strategy and Analytics

Overview

Legal & General is a leader in Pension Risk Transfer with over 35 years of experience globally, servicing over a million annuitants. Building on our global success, we established our Pension Risk Transfer platform in the US in 2015.  The business has grown steadily and in 2024 we completed $2.2 billion in premium written, representing our largest year on record.

At Legal & General Retirement America, we aim to make a positive difference in the lives of our customers, partners, colleagues, and the communities in which they live.  We are passionate about what we do and how we do it. This means working with pace and energy to reach our goals and challenging ourselves to achieve more.  We strive to create a unique environment where balance between work and life is possible. 

Purpose and Objective

The Senior Director, Portfolio Strategy will assist the Chief Investment Officer in this newly created position and be the lead person responsible for driving portfolio strategy aimed at improving portfolio competitiveness on a risk and capital -adjusted return basis for Insurance balance sheets. This person will lead the team responsible for developing SAA, production of portfolio analytics, ALM analysis, and management information for Legal & General America’s Insurance and Pension Risk Transfer businesses.

LGA’s Investments Team is responsible for investment strategy formulation and implementation and aggregate portfolio management by working with various functions within Legal & General in the US and London. Daily asset management is handled by our internal and external asset managers.

Role and Responsibilities

Portfolio strategy:

• Thought leader in portfolio strategy development to drive competitiveness in US PRT portfolios.
• Stay abreast of market trends, economic conditions, and industry developments to inform strategic decision-making.
• Responsible for leading development of / updating Strategic Asset Allocation (SAA) for portfolios managed by CIO team, considering balance sheet, regulations, capital, market outlook, macroeconomic themes, ALM, liquidity and other factors.
• Oversee the management of assets relative to SAA, risk management, and performance monitoring.
• Working closely with Portfolio Management and Investment Origination teams to lead investment actions necessary to address any variances to long-term SAA.
• Working with Risk teams on portfolio stress testing for balance sheet in line with SAA and other ad hoc analysis.
• Lead Investments team to be well connected with Finance and Pricing counterparts to ensure alignment between future-looking portfolio plans / projections and future-looking financial projections, e.g., investment income, capital requirements, liquidity, and pricing portfolios.
• Member of the LGA Investment Committee.

Data and analytics development:

• Responsible for leading development of insightful and timely portfolio analytics, well presented for management information, board pack and ad-hoc analyses on portfolio.
• Continuous development of portfolio analytics capabilities and tools in the team for monitoring and forecasting (including for PRT portfolios, ALM and Liquidity).  

People Management:

• Lead a team of investment professionals driving accountability, strong performance and collaborative team culture.
• Ensure that each team member has a development plan in place and receives frequent feedback on their performance and development opportunities.
• Ensure tasks are covered and team members are cross trained as appropriate.

Auxiliary Responsibilities:

• Leading or participating in various strategic investment projects as needed.
• Supporting CIO in the set-up work for the OCIO function to be delivered as part of Banner sale.

This role will work closely with various teams in the Stamford, Frederick, Bermuda and Chicago offices as well as the London headquarters.

Requirements

Qualifications

• A bachelor’s degree required in a related field, e.g. finance, actuarial, economics or business. A master’s degree/ MBA in a related field is preferred.
• Minimum of 10 years of experience in portfolio management, investment strategy, or a related field, with a focus on life insurance, pension risk transfer or similar areas.
• Minimum 5 years of experience of managing and developing a team of investment professionals.
• In-depth knowledge of investment products (particularly fixed income and private credit), financial markets, and regulatory requirements for US and Bermuda balance sheets.
• Life Insurance industry experience or other liability driven investment experience is required.
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