Senior Investment Manager - BPA Investment Management

Job Title: Senior Investment Manager – BPA Investment Management
Contract Type: Permanent
Location: Edinburgh or London
Working style: Hybrid 50% home/office based
Closing date: 17th March 2026

We are looking for a Senior Investment Manager to take a leading role in the management of the investment portfolio backing Royal London’s Bulk Purchase Annuity (BPA) business. Working closely with our asset manager, you will help steer how the investment strategy is implemented and support the growth of this business.

This is an exciting opportunity to join Royal London’s Investment Office. As a senior member of the team, you will play a key role in shaping and executing our investment strategy for our BPA and annuity business.

You will work in close partnership with teams across the business and our asset managers, applying your investment and ALM expertise to ensure decisions remain aligned with insurance requirements, risk appetites and BPA objectives. Your contribution will directly support a rapidly growing and strategically important area of the Group, offering both breadth and influence across end to end investment activity.

About the role

• Partnering with our asset manager, leading the day to day management of our investment portfolio for BPA and annuity business.
• Monitoring investment performance, risk exposures and LDI benchmarks as well as identifying opportunities to improve portfolio efficiency and resilience.
• Oversee derivative and collateral management programmes, ensuring all activity remains within ALM policy and approved limits.
• Support the onboarding and investment ramp up of new BPA transactions, ensuring alignment with strategic objectives and investment risk appetite.
• Co-ordinate investment reporting for the portfolio, ensuring high quality analysis and timely responses to queries.
• Work collaboratively with our asset managers, commercial and finance functions to support investment strategy execution and regulatory approvals.
• Provide investment expertise to new asset onboarding and BPA investment solutions.

About you

• Significant experience in investments, ALM and Solvency II/Solvency UK within an insurer, asset manager, investment bank or consultancy.
• Qualified Actuary (FIA/FFA), CFA or equivalent.
• Strong understanding of investments used in annuity portfolios including derivatives.
• Good working knowledge of Matching Adjustment requirements and investment frameworks.
• Excellent written and verbal communication skills, comfortable engaging with senior stakeholders.
• Highly numerate with strong analytical and problem solving skills.
• Proactive, adaptable and able to challenge constructively.
• A self-starter with a practical mindset who takes ownership and delivers results.
• A collaborative team player with the ability to guide others and act as deputy for senior management when required.

About Royal London

We’re the UK’s largest mutual life, pensions and investment company, offering protection, long-term savings and asset management products and services.

Our People Promise to our colleagues is that we will all work somewhere inclusive, responsible, enjoyable and fulfilling. This is underpinned by our Spirit of Royal London values; Empowered, Trustworthy, Collaborate, Achieve.

We've always been proud to reward employees by offering great workplace benefits such as 28 days annual leave in addition to bank holidays, an up to 14% employer matching pension scheme and private medical insurance.

Inclusion, diversity and belonging

We’re an Inclusive employer. We celebrate and value different backgrounds and cultures across Royal London. Our diverse people and perspectives give us a range of skills which are recognised and respected – whatever their background.