Risk and Investment Officer

Profile

Job Information
Shell
Risk and Investment Officer
in
Den Haag
Netherlands
, Netherlands
Job Family Group:
Finance
Worker Type:
Regular
Posting Start Date:
June 13, 2022
Business unit:
Finance
Experience Level:
Experienced Professionals
Job Description:
Where you fit in
Shell Pensioenbureau Nederland B.V. (SPN) is a wholly owned subsidiary of Shell Petroleum N.V. It provides pension fund management services and advice to Stichting Shell Pensioenfonds (SSPF) and Shell Nederland Pensioenfonds Stichting (SNPS), the pension funds for Shell employees in the Netherlands working under local employment terms and conditions and for Dutch expatriates, and where relevant Group companies.
The Risk and Investment Officer (R&IO) reports functionally to the Managing Director - Shell Pensions Nederland.
SSPF
The Risk and Investment Officer (R&IO) is responsible for assuring countervailing power vis-à-vis Shell Asset Management Company B.V. (SAMCo) and is part of the SSPF investment organisation. The prime objectives of the R&IO are to:
Ensure that investment risks are identified, assessed, and managed
Monitor and evaluate the investment performance of SAMCo, including risk and compliance reporting,
Co-ordinate and analyse investment advice from SAMCo (including approval of new investments in line with the New Investment Approval Process) and external advisors.
Co-ordinate the asset part of the asset/ liability model (ALM) studies.
Manage the SSPF Investment Committee’s process and contribute to the development of the Board members’ investment and risk management competences.
SNPS
The Risk and Investment Officer (R&IO) is responsible for assuring countervailing power vis-à-vis Achmea Investment Management (AIM) and supports the SNPS DC Plan /Pension Plan manager. AIM implements the strategic (life cycle) asset allocations, manages the (administrative) life cycle pools and advises on the selection of the underlying investment funds. The prime objectives of the R&IO are similar to those above stated for SSPF.
The R&IO chairs the “Cockpit” meetings and is also the contract manager for the independent investment advisor and for the investment support services from third parties.
SPN is the Manager (“Directeur”) of both SSPF and SNPS, receiving its direction from (and is accountable to) the respective Boards. Functionally, SPN it is part of the Shell Group Treasury /Pensions organisation. SPN recovers its operating costs from SSPF and SNPS. SPN also provides advice to the employer (Shell Nederland).
Dimensions
Pension liabilities: approx. 28 (EUR bln)
Pension assets, managed by SAMCo: some 32 EUR bln
Pension assets, managed by AIM: approx. 0.3 EUR bln
Members in total: some 40.000
What’s the role?
The Risk and Investment Officer keeps abreast of and analyses developments in investment risk management and asset management, which may impact SSPF and SNPS, directly or indirectly. Developments may comprise new legislation and reporting requirements, proposals by (industry) organizations and changes to Group guidelines, e.g. the Pension Fund Management Guidelines. The R&IO can draw on an external network of experts and consultants in investment risk management and asset management through participation in relevant external organisations. The R&IO strives to benefit from best practice elsewhere. Additionally, the R&IO represents SSPF, SNPS or SPN with industry bodies such as the Dutch ‘
Pensioenfederatie
’ and may take part in external project groups.
Investment Risk Management and Investment Management
The R&IO is responsible for assuring countervailing power vis-à-vis SAMCo and AIM. The R&IO ensures that Board decisions regarding the strategic asset mix are thoroughly prepared and that investment risks, in particular the risks and exposures related to complex investment categories, are identified, assessed and managed. The R&IO acts as responsible owner of the risks allocated to him in the Risk Control Self Assessment (RCSA) and the relevant parts of the Control Frameworks of SSPF and SNPS. The R&IO co-ordinates the asset part of the Asset Liability Model (ALM) studies and co-ordinates the development of the triennial SSPF Pension Fund Plan and the annual SNPS ‘
beleggingsnota
’. The R&IO co-ordinates investment risk and investment management studies and advice from SAMCo, AIM and external advisors and co-ordinates the preparation of discussion papers to the SSPF Investment Committee and proposals to the SSPF and SNPS Boards. These comprise papers on and proposals for the strategic asset mix, benchmarks and investment guidelines. The R&IO co-ordinates consultation of the sponsor with regard to the SSPF investment policy, according to the SSPF Constitution. The R&IO does not develop investment proposals, however he/she may initiate such proposals pro-actively. The R&IO considers new investments in line with the New Investment Approval Process. The R&IO chairs the SPN Cockpit meetings.
Performance monitoring and evaluation
To monitor SAMCo’s and AIM’s performance against the mandates as laid down in the SSPF Investment Management Agreement (IMA) and SNPS ‘
Beleggingsnota
’ and to evaluate the asset managers’ performance and reporting, including risk and investment compliance reporting. To this end the R&IO analyses SAMCo and AIM reports and may request more or more detailed data as and when required. In addition he or she may seek additional analyses or expert advice externally.
SSPF Investment committee
The R&IO acts as Secretary to the SSPF Investment Committee and, in consultation with the Chair of the Investment Committee, drafts the agenda and minutes. The R&IO prepares the Investment Committee meetings and co-ordinates the day-to-day contacts with the external (independent) investment advisor.
Competence development
The R&IO contributes to the development of the SSPF and SNPS Board members’ investment and risk management competences and advices on appropriate training courses and relevant seminars and furthermore develops workshops, dedicated to special subjects, where relevant with external contributions by specialists.
The R&IO is accountable for embedding the SPN risk & investment activities in the SPN Academy.
Key Challenges:
To develop the support role to the SSPF Investment Committee and the SSPF and SNPS Boards such that the Boards are able to exercise the desired countervailing power vis-à-vis SAMCo, AIM and/or any external advisors, are in control of the investment and risk management policies and processes and are equipped to take appropriate decisions.
To maintain a constructive working relationship with key SPN, SAMCo and AIM staff and, in continuous dialogue, critically review and clarify or challenge, proposals and reports, in particular the more complex strategic propositions and the risk aspects associated with the portfolio of investments and from active management.
To develop scenario’s and options for the long term future of both funds (SSPF soft-closed and SNPS will likely grow) and support Strategic decision making in both Boards.
What we need from you?
While working experience in an institutional investor environment is required, we are also keen to hear from candidates with the following experience:
Strong financial expertise, sound knowledge of investments, complex investment strategies and investment risk management
In depth knowledge of illiquid asset classes (private markets) next to liquid asset classes;
Ability to clearly explain investment risks, sound knowledge of risk mitigation strategies
Ability to consider the assets in connection with the pension liabilities
Competency to influence decision-making and show initiative in a complex environment; strong on strategic thinking
Ability to liaise with and inspire trust and confidence in SPN colleagues in other disciplines, regulators and stakeholders at all levels with diverse backgrounds; judgement, clarity of thought
Hands-on personality, able to be supportive or challenging as the case requires, with tenacity if necessary
Fluent in Dutch and (business) English, both speaking and writing
Ability to deviate from mainstream views and to think “out of the box”.
Shell Nederland BV is a platform for international collaboration, with Shell offering direct employment to around ten thousand people in the Netherlands alone, including roughly 2,800 non-Dutch employees from around 80 countries. Diversity is key at Shell Nederland, and our employees reflect the innovation that stems from a diverse workforce. By joining Shell Nederland, you will benefit from an unrivalled industry-leading development programme that will see you tap into a pool of expert knowledge that will help propel your career. Shell Nederland is the holding company of most Shell companies operating in the Netherlands. Shell Nederland also has an advisory and coordinating role in numerous areas.
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