Senior Investment Risk Manager - Private Markets

The Senior Investment Risk Manager plays a key role in ensuring that LGPS Central's Investment Risk Policy is shaped and effectively embedded into Private Markets.

The role provides leadership and subject-matter expertise in the design, delivery and continuous improvement of investment risk management for Private Markets, ensuring that frameworks, processes and systems are robust, proportionate and value-adding.

Working closely with the Head of Investment Risk, the postholder will help shape the firm's investment risk culture, enhance analytical capability, and strengthen how we identify, measure and communicate risk around all Private Market asset classes (private equity, infrastructure, private debt and property). This is a hands-on, visible role with influence across the business, requiring a mix of quantitative skill, strategic thinking and collaboration.

This role is a certified role under the Senior Manager's Certification Regime and will be subject to assessments in Fitness and Propriety and any other regulatory requirements

Investment Risk Framework & Governance

• Lead the implementation, oversight and ongoing development of the Investment Risk Policy, ensuring alignment with LGPS Central's Risk Management Framework and regulatory requirements.
• Maintain and enhance the Investment Risk Universe, ensuring all relevant risk types for Private Markets (market, credit, liquidity, concentration, model, counter party, and transition risk) are appropriately captured, monitored and reported.
• Coordinate the preparation of Investment Committee, ORCA, and Investment Oversight Committee papers, including analytical insights, risk dashboards and policy updates.
• Support the Head of Investment Risk in ensuring the effective operation of the Risk Framework, escalation protocols and approval processes.

Quantitative Risk Analysis & Reporting

• Lead on ensuring relevant systems and models for private market risk modelling are good value for money
• Lead on design and development of the private market risk reporting approach
• Lead on design of developing risk profiles for private market LGPSC funds
• Produce and review detailed daily, weekly and monthly risk reports, ensuring that exposures, risk limits, and sensitivities are accurately represented across all portfolios.
• Evaluate the outputs of third-party risk systems and reconcile key risk metrics to ensure data quality and consistency.
• Identify and interpret emerging risk trends (e.g. concentration, AI and geopolitical impacts) and provide actionable insights to Portfolio Managers and senior stakeholders.
• Drive automation and efficiency in risk reporting using Python, Power BI, or Tableau to enhance visualisation and insight delivery.

Private Markets Oversight

• Develop a Private Markets Oversight framework for LGPSC funds and legacy assets
• Collaborate closely with Private Markets teams to monitor exposures across all Private Market classes, ensuring alignment with risk limits and client mandates.
• Establish and maintain consistent oversight frameworks for Private Markets (Private Equity, Private Credit, Property, Infrastructure, Local Investments), ensuring valuation, liquidity, and concentration risks are appropriately assessed.
• Support the development of look-through risk analytics for fund-of-funds and limited partnership structures.
• Partner with Investment Operations and Finance on data integrity and valuation governance for illiquid assets.
• Own the Private Market investment risk due diligence process
• Review and challenge of Private Market investment strategies

New Product, Mandate & Fund Launches

• Support the launch and lifecycle management of new investment funds or segregated mandates, ensuring appropriate risk controls, performance benchmarks, and stress testing methodologies are established.
• In particular support the New assert class "Local investment Fund" from a risk perspective and built out the investment risk capability for this asset class
• Review and amend the memorandum and risk disclosure documents on risk sections
• Perform pre-trade risk assessments and scenario analysis for new investments, ensuring they align with strategic objectives and regulatory obligations.

Collaboration, Culture & Continuous Improvement

• Act as a visible ambassador for Investment Risk, promoting a culture where risk is viewed as an enabler of informed investment decision-making.
• Work collaboratively with Portfolio Managers,…