Head of Liquidity Management

  • Location

    Birmingham

  • Sector:

    Financial Services, Insurance

  • Salary:

    Up to £90,000 + Bonus & Benefits

  • Published:

    3 months ago

  • Expiry date:

    2020-12-21

  • Client:

    #

About the role

An exciting opportunity has arisen for a Head of Liquidity Management here at Phoenix and we are looking for an individual who has worked in a previous Senior Leadership role within this speciality to lead a team of finance professionals; onitoring, managing and reporting the liquidity positon in the Phoenix Group Life companies (excluding unit linked and matching adjustment funds, and Reassure). 

We expect this individual to maintain the Life Co elements of the Phoenix Group Liquidity Framework and support business units in operating within the approved framework as well as identify areas to optimise the liquidity risk strategy for the benefit of policyholders and shareholders. This individual will also be responsible to ensure that liquidity risk is appropriately understood and managed within risk appetite limits at all times alongside identifying  areas to optimise the liquidity risk strategy for the benefit of policyholders and shareholders.

We also require this individual to engage proactively with key stakeholders in Lines 1,2 and 3 in the oversight of liquidity risk whilst utilising best practice methods.

This role offers growth, stretch and responsability to the right individual to really make a difference at the Phoenix Group.

Key Responsibilities

To develop and advise on the Life Co elements of the Phoenix Group Liquidity Risk Framework taking into account the underlying features of the Phoenix Group Life Companies, risk appetite, and business plans.  This will include the following responsibilities:

  • Identify all risks and ensure that these are properly measured, monitored and reported through the appropriate governance fora.

  • Ensure timely and accurate management information on the projected liquidity and wider tangible asset headroom is provided to key stakeholders to aide decision making.

  • Be the central contact for colleagues to ensure that the agreed liquidity framework is implemented, including the development and maintenance of liquidity EWIs.

  • Advise on corrective action to ensure that liquidity risk is maintained within risk appetite taking into account current and prospective market conditions.  This includes responsibility for reporting results of liquidity stress testing, and the identification and documentation of available contingent management actions.

  • Keep abreast of market developments and ensure that the liquidity framework is reviewed to remain appropriate in the context of the current business plan and market conditions.

  • Ensure an appropriate control framework is maintained.

Other key accountabilities include:

  • Chair the monthly Liquidity Management Forum

  • Support Line 2, governance fora and regulators in their oversight of liquidity risk.

  • To be a member of the Contingent Funding Committee.

  • To build, develop and lead a team of finance professionals to management the life companies’ liquidity position.

  • To comply with all Phoenix Policies as necessary.

  • To deputise for the Head of Financial Performance as required.

Essential:

  • Suitable post qualification experience and a strong technical Finance ability; experts in their field of expertise

  • Excellent written and verbal communication skills, having the ability to explain complex technical issues in a concise manner suitable for presentation at Board level

  • Qualified actuary or accountant with at least 5 year PQE

  • Proven ability to adapt in an ever changing financial services environment

  • Proven track record in delivering work to an appropriate quality.

  • Understanding of liquidity risk and the latest regulatory requirements.

Desirable:

  • Experience of managing teams.

  • Experience of regular reporting processes

  • Managing a range of stakeholders.

About us

Join the Phoenix Group, and you join a unique organisation. It’s not just the 10 million policyholders we serve, or the £240 billion of assets we look after. Or that we’ve been listed as one of the UK's Top Employers for seven years running. It’s the fact we manage predominantly closed life funds in our Heritage business. This means we can focus our innovative thinking and energy into improving outcomes for our existing customers and their customer experience. But that’s not all. We also have an Open business which manufactures and underwrites new products and policies to support people saving for their future in areas such as workplace pensions and SIPPs. We also market corporate pension trustee services and manufacture products to be sold under other brands. Did you know Phoenix Life manufactures SunLife’s market leading Guaranteed Over 50’s plan? Having acquired Standard Life Assurance Limited in 2018, Phoenix is now the largest consolidator of heritage life insurance funds in Europe with a vision to be Europe's Leading Life Consolidator

Flexible working

Flexible working at Phoenix is: "A lifestyle that fuses your personal and professional life." We believe in a culture of flexibility, depending on the role we may be able to offer working arrangements that suit your needs. In today's world of work/life challenges we recognise getting this right is important to our employees and the success of our business.

Examples of this may include but are not exclusive to the following:

  • Part-time: You would work less than full-time hours for the business, perhaps by working fewer days or hours per week.

  • Flexible hours: Still working your contracted hours, you would have flexibility to start and finish within agreed core working times.

  • Job share: Where the role allows you would voluntarily share the duties of one full-time position with another colleague, splitting the hours on a pro-rata basis.

  • Home working: You would undertake some, or all, of your working duties from home or anywhere else other than the standard allocated place of work (including other Phoenix locations).