Client Portfolio Management, Senior Analyst
London with hybrid working arrangements.
About the role
At Railpen, we’re committed to helping secure our members’ future through responsible investment and effective change. As a Client Portfolio Management, Associate you will support the portfolio management and implementation of pooled fund investment strategies for the clients of the Railways Pension Schemes. This includes ensuring client portfolios remain aligned to Trustee risk appetite and returns requirements and are implemented effectively, while also contributing to the ongoing development of Client and Total Portfolio Management (‘CPM’) team’s processes and technology platform.
To learn more about Railpen including our values, culture and purpose, visit our careers page here.
What you’ll be doing
- Support the management of implemented client portfolios. Ensure client portfolios align to the Trustee’s agreed risk appetite and investment strategies, including managing the transition of assets to an external party, for example in relation to annuity contracts. Manage exposures across the pooled funds and connect the investment implementation to client requirements through thoughtful mandate design, day-to-day client portfolio management, transition planning and management of client cash balances to meet liquidity requirements.
- Lead the identification, development and implementation of process improvements through automation, coding and AI-enabled solutions to improve the efficiency, accuracy, scalability and resilience of CPM team processes. Collaborate with other internal teams to understand and introduce best practice standards into the team’s processes.
- Support the development, maintenance and implementation of Railpen client reporting including quarterly reporting and portfolio management commentary, lead on preparation of committee reports and maintain client mandates to ensure appropriate governance with Railpen’s fiduciary management process.
- Support Railpen’s management of Liability Driven Investments (‘LDI’), with a focus on client hedging and collateral management. Coordinate collateral reporting and support LDI pooled fund trading activities to rebalance client exposures and maintain collateral positions in line with portfolio requirements.
- Support the illiquid asset pacing process, working alongside portfolio management teams, operational teams and advisory teams to communicate and implement private market commitments, redemptions and distributions. This includes supporting the review of the annual illiquid pacing targets and supporting the wider investment planning process.
- Team player to support Total Portfolio Investments initiatives through collaborative research, stakeholder management, communications and contributing to the team’s wider business plan and culture.
What we’re looking for
We welcome applications from candidates with a range of relevant backgrounds. You may have developed your experience within a pension scheme, fiduciary manager, investment consultancy, asset manager, investment operations team or another environment involving institutional investment portfolios. We do not expect candidates to meet every criterion below, and the successful candidate will be supported by senior colleagues as they develop in the role.
Essential experience and capabilities
- Relevant experience within the pensions, fiduciary management or institutional investment industry, with a good understanding of how investment strategies are implemented within multi-client environments or pension schemes.
- An understanding of pooled investment funds and the role of pooled fund unit trading in implementing investment strategy, managing portfolio allocations and meeting client cash flow requirements. Direct dealing experience would be helpful, but candidates may also have gained this understanding through portfolio analysis, investment operations, consulting or implementation activities.
- Strong analytical and problem-solving skills, with the ability to understand investment portfolios, interpret financial and investment information, identify issues and produce accurate, practical analysis to support decision-making. Experience improving investment or operational processes through data analysis, automation, coding or technology-enabled (e.g., AI) solutions would be advantageous.
- A clear interest in portfolio implementation and multi-asset investing, together with the ability and motivation to develop a broader understanding of pension investment strategy, portfolio management and fiduciary management.
- Evidence of taking ownership of work, managing priorities and delivering high-quality outputs to agreed deadlines.
- A collaborative approach and the ability to communicate effectively with colleagues and stakeholders across investment, operational, risk and advisory teams.
Desirable experience
- Experience supporting the implementation, monitoring or rebalancing of pension scheme or institutional investment portfolios.
- Practical exposure to pooled fund unit dealing, cash flow management, portfolio transitions or investment operations.
- Experience supporting buy-in annuity transactions, including aligning to price-lock portfolios and managing transition-related risks.
- Familiarity with UK defined benefit pension schemes and the principles of strategic asset allocation, liability hedging and liquidity management.
- Exposure to LDI portfolios, derivatives or collateral management processes.
- Between 3 to 8 years’ experience within a pension scheme, fiduciary manager, investment consultancy, asset manager, investment operations team or another environment involving institutional investment portfolios
Why is this role exciting now?
This is an opportunity to play a key role in the management and implementation of client portfolios, ensuring investment strategies are delivered effectively and aligned to client objectives. Your impact will be seen across portfolio management, liquidity oversight and process improvement, helping to strengthen controls, improve efficiency and support successful client outcomes.
Through collaboration across investment, risk, operations and advisory teams, you’ll help deliver robust portfolio management today while contributing to the development of CPM’s future capabilities.
What you’ll get in return
- A competitive salary (depending on experience) plus generous annual bonus plan
- 28 days annual leave plus bank holidays
- We provide membership of the Railways Pension Scheme, a Defined Benefit arrangement under which you get a pension for life and a lump sum when you retire, based on your length of service and pay
- We support hybrid and flexible working along with very generous family leave including 12 months full pay maternity leave and 6 months full pay paternity leave
- Take a look at the full range of benefits available to support you, click here
Next steps
If you’re excited by the opportunity to make a meaningful contribution and grow your career with us, we encourage you to apply by 18th November 2026.
Inclusion at Railpen
At Railpen, diversity, equity and inclusion are core to who we are. We’re committed to creating a workplace where everyone feels respected, supported and able to thrive. Our mission to secure a better future for our members is strengthened by the different perspectives and experiences our people bring.
We are transparent about our gender pay gap and are actively committed to addressing it through fair and inclusive recruitment, progression and reward practices.
We respect and support individuals’ pronouns and encourage colleagues to share them if they feel comfortable to do so.
We’re proud to be an equal opportunity employer. We welcome applicants from all backgrounds and do not discriminate on the basis of age, ethnicity, religion, sex, sexual orientation, gender identity, disability, neurodiversity, or any other protected characteristic. If you need adjustments during the recruitment process, just let us know.
