Hedging Manager

Aviva are looking for a Manager to join their Hedging team within Group Asset Liability Management (ALM). The team optimises the ALM position of the Group to achieve the best balance between risk and return (thereby maximising return on capital) whilst protecting the Group’s balance sheet from downside market and credit risk.

You’ll assist in structuring, reviewing and supporting Group and business unit hedging programmes. This will ensure the most efficient and effective hedging programmes are put in place, taking advantage of natural diversification within the Group and negotiating with investment banks on potential transactions. Tasks will include structuring and pricing transactions and performing back-testing and statistical analysis to measure hedge effectiveness and estimate capital benefits.

You’ll also be responsible for managing and further developing relationships with peers within Group Capital, across Finance and Risk, and with investment banks and asset managers. This will ensure that we stay fully abreast of the latest hedging techniques and opportunities and their applicability within Aviva.

In addition, you’ll be interacting with Aviva Investors and business units on a regular basis. This will help ensure a high standard of implementation for on-going and new hedging programmes across the Group.

This is a specialised technical role with a significant impact on bottom line. It also provides the opportunity to play a key and leading role in the development and implementation of hedging strategies within an innovative team for a global, composite insurer.

What skills & experiences are required?

• Appropriate business experience including insurance, asset management and/or transaction structuring/execution experience across capital markets
• Familiarity with structuring and execution of derivatives across asset classes, ideally with one area of expertise
• Significant experience in asset and liability management, hedge structuring and trade execution across asset classes
• Strong technical and practical knowledge of financial products and hedging applications
• Solid technical understanding of insurance products and liabilities and their risk management
• Strong IT skills, including advanced Excel and VBA would be an advantage
• Robust practical analytical skills, ability to model portfolios of assets and liabilities
• Excellent time managing and organisational skills

What will you get for this role?

• A salary of £50,000 to £70,000 depending on skills, experience and qualifications
• Generous defined contribution pension scheme
• Annual performance related bonus and pay review
• Holiday allowance of 29 days plus bank holidays and the option to buy/sell up to 5 additional days
• Up to 40% discount for some Aviva products through “My Aviva Extras” plus discounts for Friends and Family (some exclusions apply)
• Excellent range of flexible benefits to include a matching share save scheme

Additional Information and Equal Opportunity

One of Aviva’s core values is Care More, and this is brought to life through the flexible ways we love to work. This may include working from home some of the time, or flexible work schedules to accommodate parent and carer responsibilities, further studies and hobbies.

Our diversity and inclusion policies and initiatives are shaping an environment where everyone feels welcome regardless of age, disability, race, ethnicity, gender, gender identity, religion, culture, sexual orientation, national origin, marital status, pregnancy, maternity or those with other caring responsibilities. Our approach helps to ensure that Aviva is a place which values difference and provides equal opportunities for all.

As a disability confident employer, we guarantee to interview anyone with a disability (as defined in The Equality Act 2010) whose application meets the minimum criteria for the post. (By ‘minimum criteria’ we mean that you should provide us with evidence which demonstrates that you generally meet the level of competence required, as well as meeting any of the qualifications, skills or experience defined as essential). Please apply through the website and then email the contact listed in the advert to notify us that you meet the conditions for the guaranteed interview scheme.

We prefer all applications to be submitted online, however if you require an alternative method of applying please contact Daniel Hopchet in the Resourcing team on 0121 234 7625 or Daniel.Hopchet@Aviva.com.