PURPOSE OF THIS ROLE

The purpose of this role is to ensure the effective and timely implementation of the investment strategy and the ongoing management of the investment portfolio. The role requires setting and reviewing the investment strategy for the corporation’s local and offshore investment portfolio to construct of underlying asset classes and the selection, appointment, onboarding, and monitoring of external asset managers. The role also requires liaison between the other units in the corporation and the investment unit and external asset managers, other service providers, and regulators.

KEY ACCOUNTABILITIES, MEASURES & INTERFACES

Investment Strategy:

• Setting and reviewing the investment philosophy and strategy for the corporation’s local and offshore investment portfolio, while being cognisant of insurance liabilities, applicable regulations, risk appetite, and solvency framework.
• Perform required asset modelling/analyses to inform the investment strategy.
• Review the Investment Policy Statement (IPS).
• Conduct together with the actuarial unit an asset/liability study to inform the investment strategy.

KEY ACCOUNTABILITIES, MEASURES & INTERFACES

Portfolio Construction:

• Provide asset class investment portfolio construction parameters and asset manager specifications to implement the investment strategy, with market analysis to support recommendations.
• Define the asset allocation, investment guidelines and portfolio construction, being cognisant of insurance liabilities, risk appetite, and solvency framework.
• Compile asset manager investment guidelines to reflect each manager’s investment process and style, and the ex?ante expectations in terms of risk taken and value added versus the benchmark.
• Liaise with the corporation’s asset consultant to deliver required asset manager and investment portfolio construction research.

Implementation of investment strategy:

• Adequate selection, appointment, and onboarding of asset managers.
• Prepare tender, evaluation, and selection criteria for the appointment of new asset managers in line with the corporation’s procurement policies.
• Liaise with incoming and outgoing asset managers, the asset consultant and the custodian to propose, plan, and execute asset transitions and provide reconciliation reports thereof.

Portfolio Monitoring:

• Ensure adherence to investment policy statements and investment guidelines by asset managers.
• Monitor asset managers by way of performance reportbacks, due diligences, manager scoring and evaluations, and contract management assessments.
• Manage fund manager allocations in line with IPS to achieve investment objectives while ensuring that it is within approved risk parameters.
• Manage the corporation’s required liquidity and cash flow needs resulting in and outflows of fund manager portfolios and portfolio rebalancing.
• Undertake performance evaluations of the portfolios and all the underlying contributors to performance.

Risk Management

• Manage investment unit risks to enable the corporation to mitigate enterprise-wide risks. Including maintaining unit risk register and reporting on identified risk metrics.
• Ensure compliance with all investment risk-related policies (e.g. IPS, Risk Strategy document).
• Assist in necessary stress-testing of the investment portfolio as part of the Own Risk and Solvency Assessment (ORSA).

KEY ACCOUNTABILITIES, MEASURES & INTERFACES

Managerial responsibilities

• Managing the investment team and setting up the function’s investment processes, policies, systems, and reporting tools.
• Set clear performance goals for direct reports ensuring the achievement of unit objectives.
• Review work performed by direct reports.
• Maintain documentation on unit processes.
• Manage and monitor the performance of investment consultants, custodians, and other external service providers.
• Day?to?day management of investment activities and reporting regularly to the Chief Actuarial & Investments.
• Efficient and timeous execution of the investment processes with proper planning and prioritising of tasks.
• Timeous and high-quality reports and proposals to management and the board committees.
• Efficient management of the unit’s operational and investment-related expenses.

Other responsibilities

• Forecasting the investment portfolio, expected investment returns and expenses as part of the firm’s budgeting process and strategy planning.
• Work with the actuarial, finance, and risk units to ensure regulatory compliance and to prepare required reporting to regulators.

Key Measures

• Achievement of investment performance targets within risk limits
• Efficient unit processes

QUALIFICATIONS & EXPERIENCE

• An Honour’s degree in Financial Management, Accounting, Investment Management, Actuarial Science or any other relevant field.
• CFA qualification is a requirement.
• Minimum 7 years’ experience in an investment environment.
• Knowledge of market systems (e.g. Bloomberg) and asset modelling software will be an advantage.
• Experience in the insurance industry will be an advantage.
• Knowledge of government related procurement processes, policies and Acts will be an advantage.

Our client who has been Empowering South African exports since 2001, born under the wings of the Export Credit and Foreign Investments Insurance Act, is your go-to source for cutting-edge political and commercial risk insurance. As a self-sustained force, they are not just an agency; they are the heartbeat of national export confidence, proudly owned by the state!