Job Description

Shape the Future with the National Wealth Fund

At the National Wealth Fund, our mission is to swiftly and effectively mobilise trusted sector insights and investment expertise to unlock billions in private finance for projects across the United Kingdom. Providing £27.8bn of capital and an expanded mandate, we are ready to help the market invest with confidence, continue to drive forward the Government's growth ambitions.

We are looking for skilled and results oriented individuals who are motivated to help us build the National Wealth Fund into an industry-leading institution.

Role purpose:

This role is for a Manager in the Portfolio Management (PM) function. The primary purpose of the PM function is to manage the Fund's portfolio and client relationships once the asset is part of the balance sheet. The Portfolio Manager will support the team to manage a portfolio of debt, guarantee and equity assets spread across the sectors identified within the National Wealth Fund’s framework.

The successful candidate will support the active management of risk in the existing portfolio and will provide input into the National Wealth Fund’s pipeline of new transactions with the aim of delivering a positive financial return.

This critical role is fundamental to the National Wealth Fund achieving its mission of investing profitably to reduce UK carbon emissions and local growth.

Location: Hybrid working with a minimum of 3 days per week in the Leeds office.

Salary: £60,000 - £80,000

Deadline to Apply: 4th Oct 2026. Early submission is encouraged, and applications will be reviewed on an ongoing basis.

Core responsibilities:

• Monitor progress on key projects as assigned by the Assistant Director (AD)/Director. Engage with project sponsors and equity fund managers as directed and use judgement to identify when projects are at risk. Work with the AD/Director to identify and implement mitigating actions to minimise risks to the fund’s investments.
• Contribute to and update internal models, review and interrogate external models and carry out sensitivity analysis, analysing outputs so as to ensure risks are managed and problems identified early.
• Analyse significant amounts of qualitative and quantitative information, some of it complex, such as financial models, technical and legal analysis, facility documentation and deeds as directed by the AD/Director. Digest and summarise the results with a view to effectively recommending actions that align with the Fund’s purpose.
• Attend site visits and meet the Project Company management team, to inspect project progress and, work alongside the Directors and ADs to effectively scrutinise management in order to assess whether the project is progressing to the agreed project plan.
• Negotiate and coordinate any required documentation, test covenant compliance, test future financial projections and financial accounts to ensure that deals remain financially sound and aligned to the mission and objectives of the National Wealth Fund.
• Contribute to the preparation of reports for Investment Committee and Credit Committee to inform the Committees about the risks presented by new projects, how those risks should be mitigated and how pricing should be structured.
• Develop positive working relationships and interface in an open, constructive and collaborative manner with internal stakeholders (including HMT) to help ensure a co-ordinated approach to delivery throughout the lifecycle of the project.
• Proactively commit to continual professional development and demonstrate a positive attitude towards gaining experience and knowledge by attending infrastructure conferences and from working closely alongside senior members of the wider team on projects.

Knowledge, skills & experience required:

• A strong and demonstrable understanding of financial investment products.
• Demonstrable commercial awareness and skilled in understanding and digesting complex information.
• Track record of working on high value and sensitive projects having accountability for aspects of delivery.
• Experience of counter-party management. The successful candidate will be confident when building relationships with a range of internal and external stakeholders and will professionally represent the Bank in dealing with clients, other banks and legal firms.
• Good communicator including strong written/report writing skills.

Desirable experience, but is not essential:

• Experience of working in portfolio management
• Transaction experience of products relevant to the National Wealth Fund product offering; equity, equity funds, fixed and floating loans, guarantees (including inflation linked debt guarantees), including debt structuring, credit analysis and monitoring / management activities.

A career with us offers a unique opportunity to make a lasting impact and work on cutting-edge technologies that will drive the UK’s future. We value diversity in our people and inclusion is at the heart of what we do.

We offer competitive benefits and unique learning opportunities from combining both private and public sector skills and experience. Please note, referencing and background checks are carried out for all roles here at the National Wealth Fund.