Head of Portfolio Risk

At Nest Invest, we're leading the way in driving up standards and best practices across the industry, delivering a high-quality, low-cost pension scheme that's open to all. Now with 14 million members, we're playing a critical role in helping people save for their retirement, many of whom are low to moderate earners who may be saving for the first time and moving jobs frequently.

Our investment team is responsible for investing our members' contributions to grow their retirement pots over the long term. We're building a capability and culture that embraces innovation, leverages technology and harnesses the power of data to deliver exceptional outcomes for our members.

As our Head of Portfolio Risk, you'll lead Nest Invest's portfolio risk and performance oversight capability within the Risk Function (Second Line of Defence). Reporting to the Head of Risk (Executive member), you'll be hands on with the investment team and provide independent insight, challenge and oversight across portfolio construction, investment performance, sources of return and portfolio risk exposures, ensuring our investment portfolios remain aligned with investment objectives, risk appetite and governance expectations.

Leading a small specialist team of portfolio risk professionals, you'll be responsible for developing and continuously enhancing our portfolio risk and performance framework across all asset classes and investment portfolios. Working closely with investment teams, senior management, external investment managers and service providers, you'll ensure high-quality portfolio risk analysis, performance attribution and quantitative insights support effective investment decision-making.

You'll combine strategic leadership with deep technical expertise, driving the development of analytical capabilities, quantitative models and reporting that provide clear insight into portfolio risks, performance drivers and emerging investment risks. You'll play a key role in strengthening investment governance by providing trusted advice, independent challenge and practical insight to senior stakeholders, Committees and the Board, while helping the business make informed investment decisions and continuously enhance its portfolio risk management capabilities.

We're looking for an experienced and hands on investment risk professional with a strong background in portfolio risk management. You'll be an established technical leader with deep expertise across multi-asset investing, portfolio construction, investment performance and quantitative risk analysis.

You'll be equally comfortable operating strategically and getting hands-on with complex portfolio analytics, while building strong relationships across the investment function and providing credible independent challenge. As a leader, you'll develop a high-performing analytical team, foster a culture of technical excellence and continuous improvement, and act as a trusted partner to the business in delivering strong investment outcomes for our members.

You'll have:

• Significant experience in portfolio risk management within asset management, investment management or pension funds.
• Deep understanding of multi-asset portfolio construction, investment processes and investment governance.
• Extensive experience in portfolio risk management, investment performance measurement, attribution analysis and quantitative risk modelling.
• Experience overseeing and analysing both public and private market investments.
• Proven experience designing, implementing and continuously enhancing portfolio risk and performance frameworks.
• Strong quantitative, analytical and data management skills, with experience developing risk, performance and attribution models across multiple asset classes.
• Advanced programming and data analysis skills, with experience developing analytical tools, automating workflows and extracting insights from large and complex investment datasets.
• Experience leading the development of analytical capabilities, investment risk systems, reporting frameworks and data-driven decision-making tools.
• Experience building, leading and developing high-performing analytical teams, fostering technical excellence, collaboration and continuous improvement.
• Strong understanding of scenario analysis, stress testing, factor risk analysis, liquidity risk and portfolio risk oversight methodologies.
• Experience presenting portfolio risk and performance insights to senior management, Investment Committees and Boards, translating complex analysis into clear, meaningful and actionable recommendations.
• Excellent stakeholder management influencing and communication skills, with the ability to build trusted relationships, provide independent oversight and constructive challenge and work collaboratively across the investment function to support informed investment decision-making.
• A proactive and solutions-focused approach, with the ability to identify opportunities to enhance portfolio risk capabilities, strengthen…