Head of Investment Risk

A pivotal role leading independent oversight of investment risk for the next phase of Northern LGPS’s development.

About Northern LGPS

Northern LGPS is a c£70bn pooled investment partnership for the Local Government Pension Scheme, bringing together the investments of Greater Manchester Pension Fund, Merseyside Pension Fund and West Yorkshire Pension Fund.

Building on the foundations of its collaboration over several years, Northern LGPS is now entering the next phase of its development. This phase focuses on establishing an FCA authorised investment management company with a dedicated senior leadership team; strengthening governance and creating a clear operating model to support long-term investment outcomes.

For those joining at this stage, the opportunity is exceptional. These roles offer the chance to shape strategy, set standards and build leadership capability for the long term, working closely with the partner funds, who are both shareholders and clients, Boards and regulators to ensure Northern LGPS continues to evolve as a well-governed, resilient investment organisation.

The Role

• Design and implement the investment risk framework across portfolios and asset classes
• Oversee risk measurement, monitoring and reporting (market, credit, liquidity, ESG)
• Establish and monitor risk limits aligned to investment strategy and risk appetite
• Provide independent challenge to investment teams and support decision making
• Lead production of investment risk MI including VaR, tracking error and exposures
• Oversee risk models, analytics and data governance
• Collaborate with Enterprise Risk to ensure an integrated risk view
• Build and lead a high-performing investment risk function

About You

• Senior investment risk professional with experience across multi-asset portfolios
• Strong technical expertise in risk modelling, analytics and reporting
• Experience within asset management or similarly regulated environments
• Ability to provide effective challenge to investment teams
• Track record of building frameworks in evolving organisations
• Strong stakeholder management and influencing skills

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