About the Position:
This position is a standalone, technical specialist role, playing astrategically important role in the Investment Management team, reporting tothe Director of Investment Management.
This position has responsibility for researching and evaluatinginvestment strategies including asset/liability management for the NationalGrid US qualified and non-qualified retirement trusts, retiree health andwelfare trusts and (collectively over $14 billion in assets).
In addition, this role will contribute to risk management/reductioninitiatives set forth by National Grid.
This role will have prime responsibility for investment oversight ofthe National Grid US Defined Contribution ("DC") plans (c.$4 billion in assetsand 21,000 participants). DC planresponsibilities include evaluation and monitoring of investment strategies/products/servicesin conjunction with the third party investment consultant, as well ascoordination with internal and external stakeholders.
The position holder is also expected tocommunicate effectively with key stakeholders in articulating the long-termstrategic objectives of the US retirement plans. The position holder must havethe ability to develop and present the investment strategy, for considerationby the plan fiduciaries. Once agreed, this individual will be expected to havethe capability to lead the implementation of these initiatives.
Position Responsibilities (including but not limited to):
Evaluate investment proposals and strategies for National Grid's Defined Benefit Plans and other employee benefit assets, liaising with Aon Hewitt Investment Consulting ("AHIC"), as external adviser. Analyze new products and strategies, and using scenario analysis develop contingency plans to protect the funding positions of the plans. Provide advice on strengths and weaknesses of investment approaches.
Collaborate with AHIC in assessing the Plans' policy mix, to better assess the asset liability structure. Evaluate relevant liability risk reduction initiatives and their resulting impact. Conduct analysis related to potential corporate actions including, determining the end-state alternatives, establishing de-risking glide paths and investment policy, manager selection and risk management for the aggregate plans.
Support, and collaborate with, the Director of Investment Management regarding the investment management, strategy and asset allocation for the aforementioned plans. Research alternative approaches through network of strategic partners and peers, providing advice on strengths and weaknesses of various alternatives. Support governance activities, fiduciary onboarding, collaborating with both internal external ERISA legal Counsel, etc.
Support fiduciaries in carrying out their duty to ensure reasonableness of fees by soliciting fee disclosures from covered service providers annually and supporting the periodic review of key vendor relationships through an RFP process.
Review the investment strategies and default funds for National Grid's DC plans, representing over 21,000 participants. The strategy should be assessed considering the plan design, and National Grid's participant population. Propose and evaluate new, or enhanced, investment strategies in conjunction with NEPC, as external adviser. Implement any necessary fund changes, spearheading the coordination of both internal and external stakeholders.
Coordinate with NEPC in achieving National Grid objectives and priorities to achieve the optimal results for the DC plans. Direct NEPC, managing the work flow to ensure that the end product is customized for National Grid's risk and return profile. Collaborate with NEPC in communicating investment priorities with the fiduciary committee.
Coordinate with the DC plan recordkeeeper on investment matters.
Using their external network, constantly seek out new products and solutions, which could reduce risk, enhance investment returns, and/or reduce expenses.
Coordinate with trustees, actuaries, accountants, auditors, external consultants, and legal services to ensure compliance with fiduciary and regulatory requirements.
Knowledge of legislation and directives pertaining to the Employee Retirement Income Security Act (ERISA).
Develop and provide reporting to various internal and external stakeholders.
Knowledge& Experience Required:
Minimum 10 years of experience in pension plan investment management
Extensive financial knowledge with significant emphasis onportfolio management
Understanding of legislation and directives pertaining to the
Employee Retirement Income Security Act (ERISA)
Passionate aboutinvestments, with a clear understanding of global capital markets and riskmanagement
Excellent interpersonal and negotiation skills reflecting theextensive interaction with portfolio managers, trustees, lawyers, consultantsand senior management
Excellent oral and written communication skills including presentations at conferences and seminars on behalf of the Corporation.
The candidate should be oriented to continuous process and productivity improvement, a process owner who manages time and resources well and sees the "big picture."
Analytical Thinking: Sees multiple relationships, identifying several likely causes or consequences of a situation.
Conceptual Thinking: Sees patterns or trends in data or situations, notices when something is similar to a past situation.
Impact and Influence: Uses direct persuasion to influence others, using basic data, logic or a solid business case.
Customer Orientation: Takes personal responsibility for correcting problems promptly and undefensively and communicates relevant customer expectations to monitor delivery and satisfaction.
Attention to Detail: Monitors quality of other's work, checks to ensure procedures are followed.
Information Seeking: Establishes the facts by digging deeper, asking probing questions and challenging initial responses from different sources e.g. conducting market research, feasibility studies.
Bachelor's degree inFinance, Accounting or Economics required, MBA in Finance, Accounting, orEconomics, or Chartered Financial Analyst (CFA) preferred.
This position has no direct reports.
Responsible for 16 US retirement plan trusts.
This position is one of National Grid's career path roles which provide for promotional opportunities within and across salary bands as you develop and evolve in the position by gaining experience, expertise and acquiring and applying technical skills.
National Grid is an equal opportunity employer that values a broad diversity of talent, knowledge, experience and expertise. We foster a culture of inclusion that drives employee engagement to deliver superior performance to the communities we serve. National Grid is proud to be an affirmative action employer. We encourage minorities, women, individuals with disabilities and protected veterans to join the National Grid team.