Associate Director, Portfolio Construction & Risk

About the Opportunity

Job Type: Permanent

Final date to receive applications: 23 October 2026

Associate Director, Portfolio Construction & Risk

Multi-Asset, Fixed Income and Real Estate Level Associate Director (Level
7)

UK (London)

Global Head of Portfolio Construction & Risk

We’re proud to have been helping our clients build better financial futures for over 50 years. By working together - and supporting each other - all over the world. So, join our team and feel like you’re part of something bigger. Our clients come from all walks of life and so do we. We are proud of our inclusive culture and encourage applications from the widest mix of talent, whatever your age, gender, ethnicity, sexual orientation, gender identity, social background and more.

As a flexible employer, we trust our people to perform their role in the way that works best for them, our clients and our business. We are a disability-friendly company and would welcome a conversation with you if you feel you might benefit from any reasonable adjustments to perform to the best of your ability during the recruitment process and beyond.

The Portfolio Construction & Risk team provides first-line investment risk oversight and portfolio construction support across Multi-Asset, Fixed Income and Real Estate. The team works closely with Portfolio Managers and CIOs, providing independent challenge, portfolio insight and analytical support to help ensure risks are well understood and portfolios remain aligned with their investment objectives. The team also plays an important role in investment governance, including Quarterly Fund Reviews, CIO discussions and other portfolio oversight processes.

This is a senior role within the Portfolio Construction & Risk team, with a primary focus on Multi-Asset. You will provide portfolio construction and investment risk coverage for European-based Multi-Asset Portfolio Managers, while working closely with colleagues globally. You will act as a senior partner to Portfolio Managers and the Multi-Asset CIO, providing independent challenge, portfolio insight and practical recommendations. You will also take ownership of key initiatives across the Multi-Asset franchise, contribute to the development of portfolio construction and risk capabilities, and play an important role in the governance of the platform.

The role includes regular interaction with clients and senior stakeholders and requires the ability to communicate complex portfolio construction and risk topics clearly and credibly.

• Provide portfolio construction and investment risk coverage for European-based Multi-Asset Portfolio Managers, offering independent challenge and practical recommendations.
• Lead key Multi-Asset initiatives across portfolio construction, analytics and investment processes.
• Lead Quarterly Fund Reviews and contribute to weekly CIO and other investment governance discussions.
• Analyse portfolio positioning and risk, including factor exposures, scenario analysis and stress testing.
• Work closely with PCR colleagues globally to ensure a consistent approach and share best practice.
• Present portfolio construction and risk insights clearly to clients, consultants and senior internal stakeholders.
• Partner with investment, product, distribution, data and technology teams on strategic and client-led priorities.
• Support the development of the wider PCR team through knowledge sharing and coaching of junior colleagues.

• 7–10 years of relevant experience within portfolio construction, investment risk, Multi-Asset investing or a related area within asset management or an institutional investment environment.
• Strong practical experience of Multi-Asset…