Market Risk Manager

Summary of the role:

To provide independent risk oversight of Group wide Market Risk, ALM and Liquidity risk (but excluding Credit risk); developing and maintaining Market, ALM and Liquidity Group Risk Policies, making sure that Group operates within agreed risk appetite and to challenge and escalate areas of concern, set the agenda and take control of the operations of the Group's Investment and Market Risk Committee.

Market risk is the risk that the L&G Group is exposed to loss or adverse change in financial condition resulting from fluctuations in the level and in volatility of market prices of assets, liabilities and financial instruments either directly or indirectly. This comprises Equity, Property, Credit Spreads, Commodities, Interest Rate Risk, Inflation Risk, Currency Risk, Market Risk Concentrations and Market Liquidity Risk.

Liquidity risk is the risk that the L&G Group, though solvent, either does not have sufficient liquid financial resources available to enable it to meet its on and off balance sheet obligations as they fall due, or can only secure such liquid financial resources either at an excessive borrowing cost or through the sale of illiquid assets at a price significantly below the fair value of such assets. It includes the risk that the Group does not hold sufficient eligible assets to satisfy collateral obligations within required timescales

ALM Risk is the risk from managing the uncertainty of the value of investment assets and the timing of future cash flows from those assets relative to future insurance obligations, together with the uncertainties to the nature and future timing of the cash flows of those insurance liabilities.

Responsibilities
*Provide oversight on measuring, managing and reporting Market, ALM and Liquidity risk and making sure that L we welcome applicants from all backgrounds.