Funding Manager

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Date: 25-Nov-2022

Location: London, GB Macclesfield, GB

Company: Royal London Group

Job Title: Funding Manager

Contract Type: Permanent

Location: London or Nether Alderley

Closing date: 11th December 2022

 

At Royal London we believe your difference is our strength and our organisation benefits from the different perspectives that diversity brings. Studies have shown that people from under-represented groups are less likely to apply unless they meet every requirement. So, if you’re excited about this role but your past experience isn't a perfect fit with the job description, we encourage you to apply anyway as you may be the right candidate for this or other opportunities.

 

About the role

 

We are looking for a Funding Manager to support the Head of Funding by taking responsibility for key functions within the Funding Team within Group Treasury, which ultimately sets and implements the funding strategy for the Group.

 

You will be involved managing bond investor relationships to ensure engagement is optimised to facilitate any future bond issues; managing relationships with banks, to ensure commercial, beneficial terms are available and that our arrangements remain optimal; engaging with rating agencies, ensuring a positive and accurate view of Royal London’s business is reflected in credit ratings; and managing the debt programme, including the issuance of any new debt.  

 

Working as part of a small and collaborative team, you will gain exposure to many important aspects of Treasury management.  

 

Key responsibilities

 

  • Update and monitor the Treasury Funding Framework, producing regular reporting, analysis, and forecasts on key balance sheet metrics from a regulatory, investor and rating agency standpoint, including:
    • debt capacity
    • leverage
    • interest cover
  • Take primary responsibility for the creation, maintenance, and monitoring of rating agency capital models, to ensure that the impact on Royal London’s funding plans is understood.
  • Support Head of Funding in managing relationships with rating agencies on behalf of Royal London.
  • Support Head of Funding in managing relationships with banks on behalf of Royal London, working closely with RLAM; and in engaging with current and potential suppliers of capital and liquidity to ensure a strong knowledge of the market.
  • Work with other Funding Team members in managing relationships with bond investors on behalf of Royal London, responding quickly and accurately to investor queries and helping to ensure that a programme of regular investor engagement is in place.
  • Monitor debt market conditions, significant market developments, Royal London debt prices etc and produce updates and analysis for senior management.
  • Have input to managing the Funding risks faced in Treasury, managing the control framework, and implementing and embedding all elements of the Risk Management System (RMS).

 

Criteria

 

  • Experience of key aspects of Treasury management, including funding strategy and related data.
  • Knowledge and experience of funding and debt capital markets, preferably within the Banking / Insurance sector.
  • Knowledge and experience of rating agency capital models and insurance regulatory capital.
  • Treasury qualification ideal, or CFA, Securities qualification, or equivalent.
  • Strong collaborative team member.

 

What we offer

 

We've always been proud to reward our employees by offering a number of great benefits including:

 

  • A generous group pension scheme (up to 14% matching employer contribution)
  • 28 days annual leave plus bank holidays with the option to buy/sell up to 5 days
  • Annual company and performance-based bonus
  • Life assurance (up to 8 x annual salary)
  • Enhanced parental leave policies
  • Private medical insurance
  • Employee Assistance Programme - Access 24/7 to confidential health, legal & financial advice

 

Full details can be found on our benefits page

 

About Royal London

 

Royal London is the largest mutual life insurance, pensions and investment company in the UK.  Since its foundation 160 years ago, Royal London has supported millions of people to protect and provide for themselves and their families.

 

At Royal London, our People Promise is that we will all work somewhere inclusive, responsible, enjoyable, and fulfilling. This promise has been at the heart of our approach to hybrid working, ensuing a balance of time working in our offices, supporting the culture of collaboration and inclusion and some working time from home, so we can all continue to benefit from the flexibility this brings. Our hybrid working approach is built around our mutual mindset, thinking about what is good for us as individuals (the ‘me’) and in the context of what is right for our customers, our colleagues, and The Royal London group (the ‘we’). Together we belong- collaborate – learn and perform.

 

Our expectation is that colleagues working in hybrid roles will come into the office for 50% of their time, and the rest from home. We want to be as consistent as we can with our approach, but we also appreciate some colleagues need adjustments based on personal circumstances. (e.g., to support a disability, or caring responsibility) and / or may wish to formally seek a flexible working pattern in line with our flexible working policy.

 

We appreciate the world of work continues to evolve and we will continue to listen to our colleagues’ views on this whilst ensuring our on-going approach is right for our business and customers

 

We are an equal opportunities employer. We work hard to attract the best talent for our award-winning team. We believe that embracing difference makes us stronger. Our diverse people bring us different skills – whatever their educational background, disability, gender, age, sexual orientation, race, religion or belief.

 


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