Client Portfolio Management Senior Analyst
Requirements
Candidates should have relevant experience in pensions, fiduciary management, institutional investing, or a related environment, with an understanding of pooled funds and investment implementation. Strong analytical, problem-solving, prioritization, and communication skills are required; experience with portfolio operations, LDI, collateral, automation, or coding is advantageous.
Job Description
London with hybrid working arrangements.
About The Role
At Railpen, we’re committed to helping secure our members’ future through responsible investment and effective change. As a Client Portfolio Management, Associate you will support the portfolio management and implementation of pooled fund investment strategies for the clients of the Railways Pension Schemes. This includes ensuring client portfolios remain aligned to Trustee risk appetite and returns requirements and are implemented effectively, while also contributing to the ongoing development of Client and Total Portfolio Management (‘CPM’) team’s processes and technology platform.
To learn more about Railpen including our values, culture and purpose, visit our careers page here.
What you’ll be Doing
- Support the management of implemented client portfolios. Ensure client portfolios align to the Trustee’s agreed risk appetite and investment strategies, including managing the transition of assets to an external party, for example in relation to annuity contracts. Manage exposures across the pooled funds and connect the investment implementation to client requirements through thoughtful mandate design, day-to-day client portfolio management, transition planning and management of client cash balances to meet liquidity requirements.
- Lead the identification, development and implementation of process improvements through automation, coding and AI-enabled solutions to improve the efficiency, accuracy, scalability and resilience of CPM team processes. Collaborate with other internal teams to understand and introduce best practice standards into the team’s processes.
- Support the development, maintenance and implementation of Railpen client reporting including quarterly reporting and portfolio management commentary, lead on preparation of committee reports and maintain client mandates to ensure appropriate governance with Railpen’s fiduciary management process.
- Support Railpen’s management of Liability Driven Investments (‘LDI’), with a focus on client hedging and collateral management. Coordinate collateral reporting and support LDI pooled fund trading activities to rebalance client exposures and maintain collateral positions in line with portfolio requirements.
- Support the illiquid asset pacing process, working alongside portfolio management teams, operational teams and advisory teams to communicate and implement private market commitments, redemptions and distributions. This includes supporting the review of the annual illiquid pacing targets and supporting the wider investment planning process.
- Team player to support Total Portfolio Investments initiatives through collaborative research, stakeholder management, communications and contributing to the team’s wider business plan and culture.
We welcome applications from candidates with a range of relevant backgrounds. You may have developed your experience within a pension scheme, fiduciary manager, investment consultancy, asset manager, investment operations team or another environment involving institutional investment portfolios. We do not expect candidates to meet every criterion below, and the successful candidate will be supported by senior colleagues as they develop in the role.
Essential Experience And Capabilities
- Relevant experience within the pensions, fiduciary management or institutional investment industry, with a good understanding of how investment strategies are implemented within multi-client environments or pension schemes.
- An understanding of pooled investment funds and the role of pooled fund unit trading in implementing investment strategy, managing portfolio allocations and meeting client cash flow requirements. Direct dealing experience would be helpful, but candidates may also have gained this understanding through portfolio analysis, investment operations, consulting or implementation activities.
- Strong analytical and problem-solving skills, with the ability to understand investment portfolios, interpret financial and investment information, identify issues and produce accurate, practical analysis to support decision-making. Experience improving investment or operational processes through data analysis, automation, coding or technology-enabled (e.g., AI) solutions would be advantageous.
- A clear interest in portfolio implementation and multi-asset investing, together with the ability and motivation to develop a broader understanding of pension investment strategy, portfolio management and fiduciary management.
- Evidence of taking ownership of work, managing priorities and delivering high-quality outputs to agreed deadlines.
- A collaborative approach and the ability to communicate effectively with colleagues and stakeholders across investment, operational, risk and advisory teams.
- Experience supporting the implementation, monitoring or rebalancing of pension scheme or institutional investment portfolios.
- Practical exposure to pooled fund unit dealing, cash flow management, portfolio transitions or investment operations.
- Experience supporting buy-in annuity transactions, including aligning to price-lock portfolios and managing transition-related risks.
- Familiarity with UK defined benefit pension schemes and the principles of strategic asset allocation, liability hedging and liquidity management.
- Exposure to LDI portfolios, derivatives or collateral management processes.
- Between 3 to 8 years’ experience within a pension scheme, fiduciary manager, investment consultancy, asset manager, investment operations team or another environment involving institutional investment portfolios
This is an opportunity to play a key role in the management and implementation of client portfolios, ensuring investment strategies are delivered effectively and aligned to client objectives. Your impact will be seen across portfolio management, liquidity oversight and process improvement, helping to strengthen controls, improve efficiency and support successful client outcomes.
Through collaboration across investment, risk, operations and advisory teams, you’ll help deliver robust portfolio management today while contributing to the development of CPM’s future capabilities.
What You’ll Get In Return
- A competitive salary (depending on experience) plus generous annual bonus plan
- 28 days annual leave plus bank holidays
- We provide membership of the Railways Pension Scheme, a Defined Benefit arrangement under which you get a pension for life and a lump sum when you retire, based on your length of service and pay
- 4x Life Assurance cover
- We support hybrid and flexible working along with very generous family leave including 12 months full pay maternity leave and 6 months full pay paternity leave
- Take a look at the full range of benefits available to support you, click here
If you’re excited by the opportunity to make a meaningful contribution and grow your career with us, we encourage you to apply by 18th November 2026.
Inclusion at Railpen
At Railpen, diversity, equity and inclusion are core to who we are. We’re committed to creating a workplace where everyone feels respected, supported and able to thrive. Our mission to secure a better future for our members is strengthened by the different perspectives and experiences our people bring.
We are transparent about our gender pay gap and are actively committed to addressing it through fair and inclusive recruitment, progression and reward practices.
We respect and support individuals’ pronouns and encourage colleagues to share them if they feel comfortable to do so.
We’re proud to be an equal opportunity employer. We welcome applicants from all backgrounds and do not discriminate on the basis of age, ethnicity, religion, sex, sexual orientation, gender identity, disability, neurodiversity, or any other protected characteristic. If you need adjustments during the recruitment process, just let us know.
Skills
About Railpen
Railpen’s purpose is simple – to secure our members’ future. We are responsible for around £36bn in assets on behalf of more than 350,000 members, providing market-leading pension administration and investment services for defined benefit (DB), defined contribution (DC) and hybrid schemes, including the Railways Pension Scheme – one of the UK’s largest, longest established, and intricate funds. We are built on our heritage. Our history of helping everyday, hardworking people save for their retirement stretches back more than half a century. From our beginnings in 1965 as the pensions office for the British Rail Pension Scheme, we’ve innovated and evolved to serve the needs of the industry and the financial future of its workers. We are committed to better member outcomes. Our role is delegated to us by our Trustee (the Railways Pension Trustee Company Limited or RPTCL), whose unwavering passion to put members’ interests first is integral to everything we do – from how we administer the schemes to how we select, structure and size investments to protect and grow the long-term value of members’ savings. We are agile and innovative. Guided by integrity, the importance we place on collaboration, and our member-first approach, we work with policymakers and industry leaders to advocate for a progressive and supportive policy environment that helps us to secure our members’ future and shape a more sustainable pensions landscape. We are different from the norm. We put every pound of profit towards paying members’ pensions securely, affordably and sustainably. We make this our mission. Our long-term mindset opens up investment opportunities over multiple decades that enrich communities and the environment, set new standards for innovation and contribute to a resilient UK economy. We are Railpen.
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