Insurance Strategist recruitment
BlackRock is one of the world’s pre-eminent asset management firms and a premier provider of global investment management, risk management and advisory services to institutional, intermediary and individual investors around the world. BlackRock offers a range of solutions — from rigorous fundamental and quantitative active management approaches aimed at maximizing outperformance to highly efficient indexing strategies designed to gain broad exposure to the world’s capital markets. Our clients can access our investment solutions through a variety of product structures, including individual and institutional separate accounts, mutual funds and other pooled investment vehicles, and the industry-leading iShares® ETFs.
Business Unit Overview:
BlackRock Multi-Asset Client Solutions (BMACS) is responsible for delivering cross asset class solutions to BlackRock clients worldwide. The BMACS team consists of 165 investment professionals located in London, San Francisco, New York, Sydney and Zurich who provide strategy, implementation and asset management services to all BlackRock’s multi-asset clients.
Within BMACS, the EMEA Insurance Strategy team is responsible for the formulation and provision of investment and risk management advice and strategies and the development and promotion of new products and services for insurance companies. Due to growing client demand in an industry undergoing significant change, the team need to recruit an insurance strategist. The position reports to the Head of Insurance Strategy and is based in London. Whilst ostensibly a technical role, this position involves significant client contact and the maintenance of an effective partnership with the Financial Institutions Group (FIG) which is responsible for managing and developing BlackRock’s insurance client relationships with insurers who invest against liabilities or liability benchmarks .
Managing Insurance Assets:
As one of the industry’s largest managers of insurance company assets, BlackRock’s insurance practice is a strategic focus of the firm. Our global insurance practice has grown to $287 billion in insurance assets for 196 clients in 26 countries as at 29 February 2012. Of this, $61 billion in insurance assets are held for clients in 14 EMEA countries.
BlackRock understands the unique nature of managing insurance assets and the customisation involved in structuring investment programs for insurers. We have a dedicated 110 person team of portfolio managers, strategists, account managers and regulatory and accounting experts. In addition to traditional investment management we provide risk management, advisory and accounting solutions to 44 insurance companies.
We have seen a significant growth in the trend to outsourcing of Insurance company assets and the outlook for the provision of investment and risk management services to insurance companies is extremely favourable, particularly in view of an increasingly complex market, regulatory and accounting environment.
Key Responsibilities:
- Provide strategic investment advice to insurance clients and prospects, including specifying, managing and communicating the results of strategic asset allocation exercises incorporating ALM.
- Develop a thorough understanding of the implications of Solvency II framework for the investment and risk management decisions made by different types of insurers.
- Support FIG with input into the efficacy of “stand-alone” investment strategies under Solvency II and embed the strategic implications into the specification of asset allocation studies.
- Develop appropriate investment and risk management strategies for insurance guaranteed savings business and help manage the development of BlackRock’s proposals for new guaranteed products to insurers.
- Take the initiative in identifying and discussing relevant market, regulatory and industry issues with key clients on a proactive basis.
- Develop sufficient knowledge of those BlackRock’s capabilities, products and services which are of relevance to insurance companies. Identify gaps in existing provision and help make a case for, and drive the development of, new services.
- Work with internal teams to prepare and deliver new business pitches and maintain client dialogue.
Knowledge/Experience:
- The skills commensurate with holding an actuarial, investment, risk management or technical modelling role in a life assurance or reinsurance company will be a strong advantage to applicants.
- The successful candidate will also need broad and extensive experience of insurance, capital markets and capital management gained over a number of years.
- The ability to prioritise the use of internal resources on the basis of commerciality.
- A good working knowledge of the liability structures of insurance companies and an understanding of the regulatory, accounting and rating agency constraints under which they operate are essential.
- A good understanding of the operation and applicability to insurance companies of exchange traded and OTC derivatives.
Skills/Qualifications:
- Excellent communication and presentation skills as befit a technical, client-facing role.
- In addition the English, fluency in German, French or another European business language will be an advantage.
- Ability to develop strong relationships with both internal and external clients and to marshal resources into project teams.
- Strong level of self direction, ownership and initiative.
- Strong organisational skills.