Overview
Asset Allocation and Portfolio Manager: Private Markets Jobs in South Africa at Sanlam
About Us
Sanlam Financial Markets (“SFM”) is the business unit in Sanlam Group that is responsible for managing shareholder credit, market, and liquidity risks, developing balance-sheet enabled products, and developing solutions to optimize Sanlam’s balance sheet(s) to generate shareholder value. SFM works closely with the Balance Sheet Management function of Sanlam to assist the Balance Sheet Management Function in its pursuit of optimising returns on the Sanlam balance sheet.
Job Purpose
The successful candidate will take responsibility for asset allocation and the management of alternative asset investments, focusing on the unique needs of the largest life insurance business in South Africa, Sanlam. This will require balancing competing objectives such as risk, long-term return, and optimising financial resources including capital and funding. The portfolio manager will play a pivotal role in aligning asset allocation decisions with the Group’s broader strategic objectives by prioritising active collaboration with internal private market investment capabilities in addition to allocating to external managers. Asset classes will comprise local and offshore private equity, private credit, direct property, hedge funds, infrastructure and other asset classes as identified by the incumbent, approved internally and aligned with the Group’s strategic objectives. The successful candidate will also be responsible for taking ownership of special investment projects such as the company’s approach to ESG-related investment opportunities (for example investment in outcomes-based bonds).
Key Responsibilities
Asset Allocation Strategy Development:
Develop and implement asset allocation strategies in private market investments ensuring alignment with strategic asset allocation parameters and objectives
Assess and integrate the investor’s balance sheet requirements including return objectives, liquidity needs, and risk appetite.
Continuously evaluate and adjust strategies based on market conditions, the evolving risk landscape and Group strategy.
Manager Selection and Oversight:
Identify, evaluate, and select internal and external asset managers leveraging internal capabilities
Oversee and monitor the performance of selected managers, ensuring compliance with investment mandates and alignment with strategic objectives.
Market Analysis and Research:
Conduct comprehensive research and analysis of South African and other African private markets, with a strong focus on private credit, infrastructure investments, private equity, and property, leveraging internal research capabilities.
Stay abreast of global market trends and how they impact local markets.
Risk Management:
Implement robust risk management practices in line with the company’s risk appetite.
Monitor and manage investment risks associated with private market assets.
Key Responsibilities Continues
Stakeholder Collaboration:
Collaborate with internal teams including
businesses within the Sanlam Investment Group and in particular the Sanlam Alternative Investment (SAI) business unit; as well as
Group balance sheet management, risk management, finance, and compliance, to ensure integrated decision-making.
Build and maintain relationships with external stakeholders, including asset managers, asset consultants and industry experts.
Support Group asset management capability in identifying and growing new capabilities in line with international trends.
Reporting and Communication:
Provide regular reporting to Group Balance Sheet Management and other key functions, stakeholders, and committees.
Communicate investment strategies, performance, and market insights effectively and in line with requirements.
Educational Requirements
Bachelor of Commerce (B.Com), Actuarial Sciences or equivalent.
Professional designation such as CFA (Chartered Financial Analyst), FRM (Financial Risk Manager), MBA or other relevant qualifications would be advantageous.
Work Experience
A minimum of 15 years of relevant experience in asset allocation or investment management, particularly in private markets.
International work experience, especially in markets sectors such as private credit or infrastructure will be viewed favourably.
Comprehensive knowledge of South African credit markets, including private corporate credit and infrastructure investments.
Working knowledge of other private market assets, such as private equity and property.
An understanding of the insurance company framework, including the generation of exposure to alternative investments in a capital efficient manner, is helpful.
A sound and demonstrable understanding of the fundamentals of various sub-sectors within private credit and infrastructure as well as other traditional and emerging alternative asset spaces.
Prior managerial experience.
Specific familiarity with insurance company portfolio management is an advantage.
Experience with ESG investing themes and practices is helpful.
Competencies
Analytical and Strategic Thinking:
Strong ability to analyse complex financial data and market trends.
Strategic mindset with the ability to develop long-term investment strategies.
Risk Management Expertise:
In-depth understanding of risk assessment and management in private market investments.
Leadership and Team Management:
Ability to lead and motivate teams, fostering a collaborative working environment.
Communication Skills:
Excellent verbal and written communication skills, with the ability to articulate complex investment concepts clearly.
Competencies Continues
Stakeholder Management:
Strong relationship-building skills, capable of engaging with various internal and external stakeholders.
Adaptability and Innovation:
Ability to adapt to changing market conditions and innovate investment strategies.
Ethical and Professional Standards:
Commitment to high ethical standards and professionalism in all business dealings.
Technical Skills:
Proficiency in financial modelling, portfolio management software, and other relevant investment tools.
Other Requirements:
Willingness to travel.
Ability to work under pressure and meet tight deadlines.
Commitment to continuous professional development in the field of investment management.
General
This role offers a challenging and dynamic work environment for an experienced investment professional who is passionate about private market asset allocation and the unique investment landscape of South Africa and Africa. The successful candidate will play a pivotal role in shaping the alternative investment strategy of a leading life insurance business, making a significant impact on its long-term financial health and success.
Build a successful career with us
We’re all about building strong, lasting relationships with our employees. We know that you have hopes for your future – your career, your personal development and of achieving great things. We pride ourselves in helping our employees to realise their worth. Through its five business clusters – Sanlam Fintech, Sanlam Life and Savings, Sanlam Investment Group, Sanlam Allianz, Santam, as well as MiWay and the Group Office – the group provides many opportunities for growth and development.
Title: Asset Allocation and Portfolio Manager: Private Markets
Company: Sanlam
Location: South Africa
