About LPPI (-%About LPPI)

One of the key priorities at LPPI is ensuring that our people work every day in an empowered, supportive, diverse and inclusive culture. Practically, this means recognising and valuing the uniqueness of every individual in terms of background, experience, beliefs and circumstances. This starts with the recruitment process, where we partner with agencies who share our common goal and advertise on a variety of job boards to access the broadest spectrum of candidates. And once successful applicants are on board, we trust our people to work in the way that works best for them which typically involves a mix of office and home working plus an engagement model to ensure frequent two-way feedback.

We are very proud of our culture at LPPI and the benefits it brings to both our people and the business. But don’t just take our word for it! Recently, we invited our entire workforce to describe in three words what is great about us and they said - our people, flexibility and collaboration.

Role Purpose (-%Role purpose)

The Deputy Portfolio Manager (DPM) role is critical in supporting the delivery of first class, value for money investment outcomes aligned to LPPI clients’ interests. DPM is responsible for providing senior support and backup for Investment Director and/or Portfolio Manager in fulfilling their responsibilities within asset class verticals. Will take a lead role on aspects of portfolio construction and oversight. Is self-directing and demonstrates independent investment analysis in order to progress proposals.

Key Responsibilities (-%Key responsibilities)

IPV Portfolio Management
• Support the Investment Director and/or PM in developing the real estate strategy and any changes pursued by the IPV to achieve its objectives
• Support the Investment Director and/or PM in the portfolio construction of the IPV including the assessment / production of relevant analysis
• Support the Investment Director and/or PM in ensuring the IPV is managed in accordance with the mandate guidelines and associated risk limits
• Contribute to annual reviews of the IPV guidelines/policies, taking into account the client’s objectives
• Attend, as directed by the PM, the periodic product governance oversight working group to ensure the operational support and delivery remain appropriate for the agreed strategy.

Asset Class Underwriting & Monitoring
• Provide appropriate support and challenge to the Investment Director and/or PM on all Investment Committee proposals for new IPV investments in line with LPPI’s due diligence policy and procedures
• Support the Investment Director and/or PM in the execution of LPPI's asset monitoring process, analysis and decision making on existing investments whether in the IPV or client balance sheet

Fees
• Assist the Investment Director and/or PM in overseeing the IPV 'fee wallet' including the analysis and benchmarking periodically produced for forums such as the IC and QACR

ESG
• Assist the Investment Director and/or PM to ensure the IPV is managed in accordance with relevant LPPI responsible investment policies and frameworks,
• Contribute to the evaluation of the ESG characteristics of the IPV (source/nature/scale of material ESG risk exposure) and contribute to addressing ESG risks as part of portfolio monitoring and oversight
• Contribute to the recording of information on IPV stewardship (engagement with managers and companies on ESG issues) for inclusion in LPPI’s quarterly RI reporting to clients and external disclosure on stewardship (PRI/UK Stewardship Code).

Systems/Data
• Support the Investment Director and/or PM in ensuring the team specifies the requirements to support the development of appropriate systems, data and tools to effectively manage the IPV and client balance sheet investments
• Ensure data and information supporting the investment strategy, investment due diligence and monitoring procedures is appropriately recorded and maintained, including oversight of Analyst’s tasked with day-to-day responsibility. Other teams may also be accountable for gathering and scrubbing certain data/systems

Team
• Support the Investment Director and/or PM in supervising the quality of work produced including constructive feedback and the ongoing development of relevant team resources
• Act as mentor to junior members of the team taking on direct supervisory responsibility, where appropriate, with support from the Investment Director and/or PM

Communication
• Contribute to the communication of the strategy, performance and risk drivers to both internal and external stakeholders
• Support the Investment Director and/or PM in communicating conviction and issues with existing investments on an ongoing basis to appropriate forums (e.g. at ACRs, monthly CIO updates, IC etc.)
• Contribute to the reporting of asset class and IPV performance at appro

Person Specification (-%Person Specification)

• Degree level educated preferably gained within a real estate, finance, economics or mathematics related discipline (preferred but not essential)
• Demonstrated financial services or investment/asset management experience, however we will consider candidates who fall outside of this range if there is a very strong match in other respects
• Willingness to actively develop and maintain professional knowledge as required for the role including investment qualifications. Chartered Surveyor, CFA and/or CAIA encouraged but not required
• Excellent understanding of the real estate market in the UK and overseas with an understanding of both direct and indirect investment processes
• Demonstrates significant experience of fund/ manager research focused on the relevant mandated universe/asset class. Experienced in evaluating and monitoring third party managers. Demonstrated ability to support portfolio management decision making and implementation
• Strong quantitative/analytical skills including the ability to construct and maintain complex financial models
• Excellent oral and report writing capabilities with strong attention to detail. Able to communicate logical opinions and constructively challenge
• Good understanding of implementation elements that form part of investment opportunity evaluation e.g. structure/commercial terms

Requirements for the role (-%Requirements for the role)

The role holder must be able to demonstrate the following knowledge and competence criteria to provide information about investment products, investment services or ancillary services that are available through LPPI:

• Proactive mindset with ability to engage and work productively both within and outside immediate team to produce team oriented results.
• Promotes positive behaviours through their own actions and attitude. Proactive team player, able to execute on responsibilities to deadlines. Shows ability to support the growth of less experienced team members
• An understanding of the breadth of the diversity agenda including embedding good practice and an understanding of LPP’s commitment to combating discrimination and promoting equality of opportunity
• Understand the total amount of costs and charges to be incurred by the client in the context of transactions in an investment product, or investment services or ancillary services
• Understand how financial markets function and how they affect the value and pricing of investment products on which they provide information to clients
• Understand the impact of economic figures, such as national/regional/global events on markets and on the value of investment products on which they provide information
• Understand the difference between past performance and future performance scenarios as well as the limits of predictive forecasting

LPPI is keen to promote a diverse workforce to maximise our ability to provide quality services to all our customers.