Senior Manager, Investment Solution and Operation, Bermuda

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Purpose Senior Manager, Investment Solution and Operation is responsible for leading the Investment Solution and Operation team to implement the investment and ALM optimization strategies using derivative and other financial engineering tools, and to build the necessary operation capability for PBIL and its asset managers to trade different investment and hedging instruments.   Organization Context PBIL operates a Bermuda-based insurance (under the entity Prudential Bermuda ISA, Ltd, “Bermuda Direct”) and reinsurance (under the entity Prudential Bermuda Re, ISA, “Bermuda Re”) supporting Prudential Group on High-Net-Worth and Wealth insurance business, capital management and reinsurance optimization. The Investment Solution and Operation team in PBIL is central to implementing investment and ALM optimization strategies and building the operational capability for trading different investment and hedging instruments.   Key Accountabilities As the head of the Investment Solution and Operation team, the Senior Manager, Investment Solution and Operation, is responsible for leading the team in the following areas:   Research Research for market and quantitative investment solution (QIS) indexes for Index Universal Life and other index-linked insurance products. Research for the new developments in regulations related to trade settlement, clearing, derivative and repo usage, etc.   Strategy Work with the ALM team and Actuarial team to support balance sheet risk and capital management via derivatives. This may include both simple delta one hedging strategies (FX forward/CCS, gov’ bond forward) as well as more advanced strategies like swaptions and dynamic hedging. Work with the investment team, banks and asset manager to develop structuring investment solution for yield enhancement (which may include collateral switch, credit linked note, positive and negative basis trades, tranche structuring, leveraged low-risk sovereign credit, etc depends on the market condition and the Group and PBIL’s risk appetite as well as the regulatory and ALM constraints).   Implementation Establish the infrastructure for trading derivatives, repo and collateral switch, including ISDA, CSA, initial margin, no-cash valuation margin, clearing, etc. Work with Finance and asset managers (e.g. Eastspring) to ensure a proper end-to-end investment operation process in place, including the custodian, middle office and investment systems. Work with Finance and the fund administrator to ensure a proper data flow from investment front-office to the downstream systems, including the data connection to the tools managed by different teams, e.g. investment accounting system, asset database and actuarial projection. Develop the investment and funding operational infrastructure to support product innovation depends on the ongoing business needs (which may include additional index-linked products, participating products, variable universal life, private placement life insurance, etc). Develop the investment and funding operational infrastructure to support bespoken inward reinsurance transactions depends on the ongoing business needs (which may include asset intensive reinsurance, VIF monetarization or funding-agreement back note). Day to day management of the Index Universal Life hedging program. Coordinate with external managers and internal stakeholders on execution and reporting of derivatives, repo and other structuring trades.   Monitoring Monitor and manage the liquidity and