Portfolio Manager, Derivatives (AIA Investment Management)

Join us as Portfolio Manager, Derivatives at AIA Investment Management!

Background: Over the past 5years, AIA Group has deployed one of the largest and most complex Derivatives Program in Asia Pacific, supported by best-in-class operating model and professional expertise. In a complex environment of regulatory evolutions, rapidly changing markets regimes and regular innovation in insurance products, the usage of Derivatives is expected to continue to increase significantly across AIA Group, both in size and in sophistication in the coming years.

Department: The Derivatives Centre of Excellence is the established centralized Group function, embedded within the Group’s Asset Management Company AIA Investment Management Pte Ltd in Singapore. Its mission is to enhance the risk and capital adjusted returns for AIA’s shareholders and policyholders through efficient and risk-managed usage of Derivatives solutions, under significant constraints.

This mission is fulfilled through the modelling and the structuring of derivatives-based solutions, and the dynamic management of Derivatives portfolios.

Position: The incumbent will be responsible for:

• Designing, modelling, structuring and advising on derivatives-based strategies and solutions for Group functions and AIA BUs, mostly for complex LDI-ALM and Efficient Portfolio Management purposes.
• Designing and managing new generations of index-linked and protected investment products, contributing significantly to idea generation, differentiation, and a reduction of the time-to-market of those products.
• Managing cross-asset derivatives portfolios outsourced by AIA Insurance Business Units to AIA IM, blending a proper perspective on financial and derivatives markets and an effective and disciplined risk management approach,
• Managing proactively Collateral requirements (anticipating the needs, managing collateral pools, executing collateral transformation trades),
• Developing required front-office derivatives analytics and quantitative tools.

Responsibilities

Derivatives Solutions:

• Design and optimize AIA’s derivatives strategies, leveraging on a deep understanding of relative economic value, liquidity, and geographical nuances between different derivatives instruments.
• Help stakeholders to define, model and quantify the objectives of such derivative strategies and suggest and similarly quantify alternatives for decision makers on such trades.

Index-Linked Products Solutions & Management

• Analyze, design and propose innovative index-linked investment products to AIA Business Units. The process requires a systematic quantitative and qualitative analysis of systematic strategies, and the structuring of options-based payoffs.
• Operationalize and manage associated portfolios.

Derivatives & Collateral Portfolio Management:

• Manage directly or assist the lead portfolio manager on linear and non-linear derivatives portfolios, across asset classes, in line with portfolio mandates benchmarks and key risk metrics, following a rigorous investment process based on a deep understanding of macro and markets environments, and a disciplined risk management approach.
• In particular, the position-holder will manage efficiently cash and collateral resources ancillary to derivatives portfolios: assess adequacy of collateral pools with internal and external requirements, optimize collateral portfolios and perform collateral transformation to ensure compliance and economic efficiency of the activity.

Derivatives Analytics Infrastructure:

• Support the development of the Derivatives and collateral infrastructure, in particular derivatives analytics, portfolio management tools and systematic investment strategies analytics,
• Support the rollout and setup of new Enterprise-wide Investment and Derivatives Management systems.

Requirements

• Minimum of 10 years’ experience of structuring or managing linear and non-linear Derivatives based solutions and portfolios (cross-asset preferred), preferably on the sell side.
• Excellent expertise in all technical aspects of derivatives (markets knowledge, modelling and pricing), including complex structures and XVA, ideally combined with an experience in developing Derivatives analytics with Numerix and Python.
• Knowledge in investment-linked insurance products, systematic strategies, ALM and LDI strategies, insurance related regulations (ICS and IFRS) preferred. Actuarial sciences knowledge a plus but non-essential.
• Understanding of collateral management and optimization, impact on derivatives pricing, funding markets (repo, securities lending)
• Excellent interpersonal skills and unquestionable team player; intellectually curious, details oriented, analytical thinker, proactive and delivery focused.
• Proven capability to navigate large and complex organizations.
• Financial Engineering background preferred. CFMAS module 3 preferred but nonessential.

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