Head of Strategic Asset Allocation

Legal & General (L&G) is a leading UK financial services group and major global investor.

We’ve been safeguarding people’s financial futures since 1836, and strive to build a better society, while improving the lives of our customers and creating value for shareholders.

We are one of the world’s largest asset managers and provide powerful asset origination capabilities. Together, these underpin our retirement and protection solutions: we are an international player in pension risk transfer, in UK and US life insurance, and in UK workplace pensions and retirement income.

L&G Institutional Retirement looks after around 700,000 institutional customers who have their retirement benefits secured with us. Operating continuously in the UK market from our entrance in 1987, we are the UK’s longest-running insurer.

Our Institutional Retirement division provides pension risk transfer (PRT) solutions for UK and US defined benefit (DB) schemes, and reinsurance solutions from our global hub in Bermuda. We work with companies, DB pension schemes and their advisors to help them secure and protect scheme members’ retirement benefits.

Joining us means you’ll support customers’ financial security in retirement; help companies to settle their pension liabilities and focus on growing their businesses; and enable investment for the long term to back our pension promises.

We’re recruiting for a Head of Strategic Asset Allocation to join us.

As the Head of Strategic Asset Allocation (SAA), you will be a leader within the Investment Strategy team and be responsible for the Institutional Retirement Strategic Asset Allocation (SAA), across quantitative and qualitative considerations, as well as the broader investment strategy including the sustainable investment approach.

What you’ll be doing:

• Leading the design and management of Strategic Asset Allocation across capital, liquidity, and sustainability considerations with adherence to Group Policy and risk appetite. There will be quantitative elements to this that can be supported by the internal quant team or external advisors, and qualitative elements that will require you applying judgement to the outcomes of the quantitative modelling
• To help to drive the development of the Institutional Retirement Investment Strategy, you will be partnering with global teams to develop and implement investment strategy across a £100bn portfolio
• Aligning strategy with business, Group, and regulatory requirements
• Communicating investment strategy to senior leadership and governance bodies
• Establishing and embedding standardised investment metrics into reporting and decision-making
• Monitoring macroeconomic trends and recommending portfolio positioning
• Supporting development of sub-strategies in areas such as Sustainable Finance and Asset-Backed Finance
• Providing inclusive leadership and fostering a high-performance culture

Who we’re looking for:

• Demonstrating outstanding quantitative skills and strategic thinking
• Communicating effectively with C-suite and board-level stakeholders
• Managing and developing high-performing, diverse teams
• Applying strong judgement across qualitative and quantitative investment frameworks
• Understanding global capital markets and long-term investment trends
• Navigating insurance balance sheets and regulatory frameworks (Solvency II, US, Bermuda)
• Collaborating across functions with clarity and purpose
• Driving innovation while maintaining robust governance and customer focus

Whatever your role, we reward performance and behaviour with a package that looks after all the things that are important to you. Here are some of the benefits we offer:

The opportunity to participate in our annual, performance-related bonus plan and valuable share schemes
Generous pension contribution                                                                                                                   

A company car allowance
Life assurance 
Healthcare Plan (permanent employees only) 
At least 30 days holiday, plus public holidays. There’s also the option to buy and sell holiday 
Competitive family leave 
Participate in our electric car scheme, which offers employees the option to hire a brand-new electric car through tax efficient salary sacrifice (permanent employees only) 
There are the many discounts we offer – both for our own products and at a range of high street stores and online 
In 2023, some of our workspaces were redesigned. Our offices are great spaces to connect and collaborate and have your wellbeing at the heart 

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At L&G, we believe it's possible to generate positive returns today while helping to build a better future for all. 

If you join us, you’ll be part of a welcoming, inclusive culture, with opportunities to collaborate with people of diverse backgrounds, views, and experiences. Guided by leaders with integrity who care about your future and wellbeing. Empowered through initiatives which support people to develop their careers and excel.

We care passionately about outcomes rather than attendance and are therefore open to discussing all kinds of flexible working options including part-time, term-time and job shares. Although some roles have limited flexibility due to customer demand, we accommodate requests when we can. 

It doesn’t matter if you don’t meet every single criterion in this advert. Instead, think about what you excel at and what else you can bring in terms of strengths, potential and connection to our purpose.