Job Description

Head of Structured Credit

Location London (Hybrid - 50%)

Contract Permanent

Hours: 35 hours

Purpose

The Structured Credit Investment function assesses, onboards and manages structured credit investments for inclusion in Just’s liability-matching portfolio. The function independently evaluates deals presented to Just, ensuring alignment with Just’s specific regulatory approvals, conducting rigorous risk assessment including detailed analysis and modelling, and presenting investment papers for governance approval. This includes evaluating opportunities across legal, economic, operational, financial risk, non-financial risk and capital considerations, ensuring alignment with Just’s investment objectives and risk appetite, and achieving return targets within defined risk and resource constraints.

The Head of Structured Credit leads the evaluation and onboarding of structured credit investments, including CLOs, ABS, rated feeders, securitisations and private credit transactions. The role independently assesses deals presented to Just, ensures alignment with Just’s regulatory approvals and risk appetite, and progresses suitable deals through governance and approval. The role is accountable for managing approved investments through the full lifecycle from onboarding to ongoing monitoring, performance management and risk oversight.

The role also supports strategic initiatives, including expanding the investable universe and enhancing investment tools, analytics and platform capabilities. The Head of Structured Credit provides leadership through stakeholder management across Just and its group partners and contributes to capability building through coaching and technical development of Structured Credit Analysts and wider team knowledge-sharing.

About Just

We help people achieve a better later life.That’sour purpose andit’sthe reason we exist. We are a fast-growing company helping customers enjoy the retirement they deserve. We do this through a variety of market leading, award-winning products and services, delivered by a diverse team of over 1,400 purpose-led colleagues who genuinely put the customer at the heart of everything we do.

This is a brilliant time to join our business. We are on an exciting growth journey to become the UK’s most loved retirement expert.

Key Responsibilities

• Evaluate and assess structured credit investments, including CLOs, ABS, rated feeders, securitisations and private credit transactions for suitability within Just’s portfolio and regulatory framework.

• Build and maintain analytical models to assess risk and return of structured credit investments, supporting robust investment decision-making and governance approval.

• Take potential structured investments through approval processes, considering internal and regulatory frameworks and requirements.

• Collaborate with internal stakeholders (including capital management, actuarial, legal and risk) and external parties to coordinate deal assessment, ensure alignment with regulatory requirements, and support onboarding of approved investments.

• Support growth of the structured credit strategy, including new asset class onboarding, platform and tool development and reporting requirements.
• Demonstrate willingness to explore new asset classes and think creatively about potential novel structures
• Strong understanding of rating agency processes and methodologies for securitisations, prior interactions with rating agencies required

Accountable for

• Assessing and evaluating structured credit investment opportunities presented to Just, including robust analytical modelling and risk scenario and stress analysis

• Onboarding and execution of structured investments, including managing approvals, operational readiness assessment and inclusion in asset allocation and pricing processes

• Structured investment lifecycle management, including ongoing risk assessment, management and reporting.

• Where required, managing the creation/ onboarding and administration of off-balance sheet vehicles housing structured investments.
• Responsible for working with rating agencies to structure and efficiently capitalize private investments

Technology

• In our roles, it is essential to foster a culture of curiosity and embrace new ways of working to drive innovation and growth.

• We seek individuals enthusiastic about leveraging new technologies to drive innovation and efficiency. (depending on the role & need)

• Head of Structured Credit is expected to make use of technology to develop efficient risk analysis and assessment tools as well as to enhance platform capabilities for structured credit lifecycle management.

Outcomes to be delivered

• Successful assessment and onboarding of structured credit investments, as defined in Just’s Structured Credit Investment strategy.

• Internal and regulatory approval for structured investments, at an asset class and/ or individual deal level as required.

• Stay abreast of the latest developments and innovations in the structured credit sector and life insurance industry and leverage best practices and new technologies to enhance the structured credit investment capabilities and offerings at Just.

Evaluating and onboarding structured credit investments

• Collaborate with the broader Capital and Investments team and external counterparties, including rating agencies and external counsel, to evaluate structured credit opportunities, including CLOs, ABS, rated feeders, securitisations and private credit transactions.

• Build analytical models to assess the risk and return characteristics of potential investments against Just’s regulatory and capital framework.

• Conduct due diligence on potential investments, including collateral analysis, structural review and regulatory alignment assessment.

• Progress onboarding and execution of approved investments.

Approval and Compliance

• Prepare documentation and presentations for internal and regulatory approval processes.

• Manage required reporting processes for internal and external stakeholders.

Collaboration and Communication

• Regularly communicate with the broader Capital and Investments team to stay informed about new asset opportunities.

Whatwe’relooking for

• Experience of assessment, due diligence and onboarding of CLOs, ABS, securitisations and/or private credit investments
• Private credit markets, loan structures and collateral assessment
• Insurance investment frameworks and regulatory requirements for structured credit, with the ability and interest to develop further
• The issues surrounding investing on behalf of a (life) assurer (desirable, but not essential)
• Understanding of the products and services provided by Just Group
• Maintain ongoing dialogue with rating agencies to remain informed of current rating agency criteria and any methodology changes

Our behaviours

At Justyou’llhave the opportunity to develop your career, whilst making a difference to the lives of those around you.You’llbe part of a company with a strong and distinctive culture -we’reambitious,curiousand collaborative – and every decision we make centres around being Just and delivering the best outcomes for our customers.

What’sin it for you

• A competitive salary, pensionschemeand life assurance

• 25 days annual leave plus anadditionalday on us for your birthday

• Private medical cover and income protection, just in case

• A generous and highly achievable bonus scheme

• Opportunities to progress your career in-role and within the company

• Free access to the Headspace app, 24/7 employeeassistancehelpline and trained physical and mental health first aiders

• A variety of employee funded benefits available via our online benefits portal

• Plus, severaladditionalpurchase options available for you and your loved ones

Explore our full range of benefitson our dedicated benefits page.

Belongingat Just

Valuing diversity of thought and fostering a sense of belonging is critical to our business success, driving innovation and balanced decision making. Our work on DEIB (Diversity, Equity, Inclusion and Belonging) aims to deliver a brilliant employee experience underpinned by a sense of belonging, where our people feel proud to work at Just.

Weremaincommitted to our publicly disclosed HM Treasury Women in Finance Charter and Race at Work Charter targets and support a wide range of employee network and events, championing issues including intergenerational working, socialmobilityand neurodiversity.

Application details

Pleasesubmityour CV using the 'apply now’ button Shortlisted candidates will be contactedregardingnext steps which may includean initialphone interview and in-person assessment.

Be Bold. Be Brilliant. Be Just