Fixed Income Portfolio Internship

The Fixed Income unit is responsible for analysing and selecting fixed income financial instruments, as well as coordinating and overseeing all portfolio management activities related to LDI investments, including the implementation of tactical asset allocation. It ensures the smooth and efficient management of the portfolios under its remit by carrying out all necessary operational activities in line with guidelines, prospectuses, regulations, and defined targets. The unit performs ex-ante assessments of investment decisions, with particular attention to compliance with limits and to all preliminary checks required before order pre-allocation—such as conflict-of-interest verification, suitability assessments, and related-party checks. It manages the pre-allocation and notification of orders to the Trading Desk for instruments within its scope and analyses ex-post results, including performance, volatility, and tracking error, leveraging the analyses produced by the Risk Management function.

The unit maintains documentary evidence of the main and most significant selection decisions to ensure full traceability. In collaboration with the structure dedicated to derivative investments, it defines the strategy for investing in derivative instruments with fixed income underlyings. It also produces reports and documentation on the managed portfolios as requested by the Head of the LDI structure, provides investment comments and proposals for both internal and external purposes, and contributes comments to the relevant Investment Committee materials prepared by the Risk Management function.

The ideal candidate will support the team on the following activities:

• set up and continued development of a merged web platform consolidating the portfolio optimization tool already present, enhancing its capabilities and functions
• working on automating data feeds to the tool from multiple sources
• preparing technical documentations on the underlying optimization techniques
• perform benchmarking activities on insurance portfolios via their integrations into the optimization tool
• maintenance and development of portfolio management reporting through Power BI dashboards
• implementation of new automation projects and support on special top down driven projects/requests