Senior Market Risk Manager

Company Description

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.

Our Group Functions provide the services that all areas of the business need. This requires a talented and diverse team behind the scenes, who enable everyone at L&G to do what they do best. 

Joining us means helping to improve the lives of our customers and contributing to the success of the business every day.

Job Description

We’re looking for a Senior Market & Liquidity Risk Manager to provide independent oversight, insight and challenge across a diverse investment portfolio within our Institutional Retirement business. In this role, you’ll work closely with investment and senior leadership teams, helping to shape sound decision‑making across complex fixed income assets while supporting strong risk outcomes for customers and the wider Group.

What you’ll be doing:

• Providing independent oversight of market and liquidity risks across investment portfolios
• Assessing the impact of investment risks on portfolios and the Group balance sheet
• Advising on Matching Adjustment eligibility and investment‑related regulatory requirements
• Delivering risk opinions on new asset classes and complex investment proposals
• Reviewing and challenging large and complex asset transactions to ensure risks are identified and mitigated
• Collaborating closely with asset origination and investment teams to manage pipelines and sourcing activity
• Supporting senior stakeholders, committees and boards with clear risk insight and challenge
• Helping to develop and maintain a strong risk management, governance and control environment

Who we’re looking for:

• In‑depth knowledge of Solvency II, including Matching Adjustment and capital requirements
• Experience in a first or second line investment‑focused role within the insurance sector
• Strong understanding of market risk, liquidity risk and fixed income investments
• Experience assessing complex investment proposals, including private credit and structured assets
• Ability to provide clear, constructive challenge and balanced risk advice to senior stakeholders
• Strong analytical skills with the confidence to exercise sound judgement
• Experience working collaboratively across multidisciplinary teams
• Clear and effective communication skills, including written reporting for senior audiences

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
• Life assurance
• Healthcare Plan (permanent employees only)
• At least 25 days holiday, plus public holidays, 26 days after 2 years’ service. 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
• We’re creating net‑zero carbon workplaces by 2030 by investing in our sustainable, modern offices across the UK, all designed to bring people together and elevate the in‑person experience

Additional Information

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.