BWD Pensions & Investment Brochure

PENSIONS & INVESTMENT 2020 / 2021

LISTEN, UNDERSTAND & DELIVER BWD is a specialist recruitment consultancy, dedicated solely to the financial services industry. Formed in 2006, BWD has continued to grow in stature without deviating from its original principles. Alistair Brownlee, James Walker and Gareth Davies, the three founding Directors, are still at the helm demonstrating the same desire and drive they possessed from the outset.   With over 150 years’ combined recruitment experience, the group consists of five specialist divisions: Pensions & Investment, Actuarial, Sales & Distribution, Regulatory, Risk & Compliance and Wealth Management. Each division has an exceptional reputation for delivering on the most demanding and precise mandates for our National and International client-base. BWD | PENSIONS & INVESTMENTS | 01

OUR OUR VALUES EXPERTISE Embedded in our organisation are four Legislative, Political and Economic changes impact the simple values that keep us grounded: market from all angles, requiring a consultancy with DO THE RIGHT THING experience that understands the rhythms of the market and can react surely and quickly to these movements. The right people, for the right   opportunity. Partnering with an BWD’s Pensions & Investment Division consists of ethically sound, responsible group. sector-specialist consultants within the UK Pensions market. We provide clients and candidates with a HUMILITY dedicated point of contact who is an expert in their sector, ensuring a consistent high level of delivery. Modest, trustworthy & reliable. We   listen and respond, sensitive to our We have created a true one-stop shop for the clients and candidates. Occupational Pensions industry! We are in regular communication with clients and other divisions within LOYALTY BWD, discussing industry changes and how we can offer a holistic service as a group. Always there to guide you. Long-term relationships provide profound SPECIALIST AREAS INCLUDE: satisfaction. Pensions Actuarial GROWTH IS GOOD Bulk Annuities Buy-Out/Buy-In Investment & Fiduciary Management Expanding your potential. Always DC Health & Wealth  helping our Pensions Operations clients, our business and employees go further 02 | PENSIONS & INVESTMENTS | BWD

PENSIONS BULK ANNUITIES/ ACTUARIAL BUY-OUT/ BUY-IN Whilst still a very niche element of the Pensions market, the modern Pensions Actuary has The UK has a highly competitive market and is evolved and must be more adaptable and seen as a real growth opportunity. The Private dynamic. Changes to regulation and increased Sector has in excess of £2trn in Liabilities within pressure on schemes has resulted in a different Defined Pension Benefit schemes, with many approach to the Actuarial profession and organisations investigating options for their plans. obtaining the right team balance is a necessity.     We have undertaken various sourcing projects, for Our dedicated specialists work with the hiring both existing and new providers entering this manager to establish their precise requirements, market and are recognised as their go-to recruiter prior to conducting any search process. We have by many of these organisations. networks consisting of; part-qualified, newly qualified and experienced Actuaries, ensuring we SPECIALIST AREAS INCLUDE: can cater for all levels. Bulk Annuity Pricing Roles AREAS & ROLES WE COVER ARE: Buy-out Transitions specialists Heads of Origination    Trustee-focused Actuaries, Scheme Bulk Annuity Business Development Actuaries, Corporate Actuaries, De-Risking Directors and Member Options Specialists, Scheme Design, Funding, Accounting and Risk BWD | PENSIONS & INVESTMENTS | 03 Management Covenant Advisory Consultants

INVESTMENT & FIDUCIARY MANAGEMENT The world of pension investment is seeing increasing focus upon Environmental, Social and Governance (ESG) factors with scheme sponsors, members and regulators taking an ever- increasing interest in delivering solutions that offer a balance of responsible and performance driven investments.   Recent events have shone the spotlight on delivering consistent, responsible Investment returns within volatility-controlled and transparent cost structures, under the beady eye of the regulator who very much has the members’ best interests at heart.   Continued consolidation of the DC and DB Investment markets is an ongoing theme with significant traction being gained by MasterTrusts, Fiduciary Managers, DB Consolidators and Institutional Investment platforms driving a competitive, scale driven market which will hopefully result in better outcomes for members.   With DC investment becoming increasing important since auto-enrolment and pension freedoms, holistic, member driven solutions up to, and into, retirement are a clear focus for providers in the market, with much recent innovation and plenty more to follow. AREAS & ROLES WE COVER ARE: Fiduciary Management Delegated Consultants, Portfolio Construction, Delegated Sales, Investment Consultants, Analysts and Manager Research Investment Operations, Asset Transition Management and Investment Governance Performance and client Reporting, Portfolio Oversight and Client Relationship Management 04 | PENSIONS & INVESTMENTS | BWD

DC HEALTH PENSIONS & WEALTH OPERATIONS The well-being of employees has never been so prevalent, Often overlooked, Pension Operations and as it is now. Organisations of all shapes and sizes are Administration plays a pivotal role in running reviewing the services they provide, ensuring they are all Pension schemes. DC, DB and CARE suitable and meet their requirements. With existing require individual skills and understanding to providers enhancing their propositions and new entrants ensure schemes are operated at their optimal looking to gain a foothold in this market, the requirement to potential. have the right team in place is paramount.     Our division caters for both in-house and Changes to Pension legislation and employee awareness, third-party administrators. We have defined has meant the requirement for communication to members networks for all areas, providing you with is a priority. Specialists are now deployed to cover Pension additional confidence in obtaining the right matters, and often seen as an essential part of the candidates for all operational roles. business, as opposed to a nice to have. ROLES WE SPECIALISE IN ARE: ROLES WE SPECIALISE IN ARE: Pension Managers (In-house, Third DC Consultants Party Administration, Interim Projects) Healthcare and Group Risk Consultants Team Leaders, Junior & Senior Pensions Communications Specialists Pension Administrators, Graduate DC Investment Solutions Business Entrants across BAU, Projects and Development Director, Delegated, Systems Consultant Relations, DC Investment Operations Managers Consultants BWD | PENSIONS & INVESTMENTS | 05

OUR I recently had a pleasure of working with Josh Bridges at BWD. I cannot SPECIALISTS express enough how impressed I was with his professionalism and commitment. Josh was immediately responding to my queries, I was IAIN GARFIELD  | DIVISIONAL DIRECTOR certain that I could call him anytime, and he replied to my emails With 20 years’ senior level recruitment experience within the promptly. He met all my expectations, but with the role he had found for market, Iain has now established himself as a vital partner me - he certainly exceeded them. The service I received from Josh was for clients and candidates across the Pensions and Benefits above excellent. markets. SENIOR PENSIONS ADMINISTRATOR     KIERON SNOW | CLIENT DIRECTOR | INVESTMENTS We have recently worked with BWD for the first time, after looking for a With over 20 years’ experience as a practitioner within the UK fresh approach when it came to recruitment. The team quickly arranged a institutional investment market, Kieron has a knowledge and face to face to talk through our needs and to get a feel for our company understanding of the Pensions Investment sector that is culture and values. This put BWD in a strong position to source high- unrivalled within the recruitment industry. quality candidates that didn’t just meet the technical specifications of the   role but also the soft skills and general “team fit” that is so crucial when HARRY McNEILL | SENIOR CONSULTANT | PENSIONS recruiting. BWD were responsive to feedback, particularly when role ACTUARIAL requirements were refined during the process and adapted the candidates Harry specialises in Actuarial appointments, ranging from put forward as a result.  This was helped by their industry knowledge, junior to executive level positions. He is forging an excellent which can so often be missing in recruitment firms. We have sourced two reputation within this specialised market, capturing a number high-quality candidates through BWD and are keen to work with them of high-profile clients since his appointment. again on any future recruitment projects.      HEAD OF CONSULTING AND ADVISORY SERVICES – BA Pensions JOSH BRIDGES  | CONSULTANT | PENSION   ADMINISTRATION I called Iain based on a former colleague’s glowing recommendation, and Josh has been in the recruitment industry for five years now, I was not disappointed. Iain understands the actuarial marketplace really joining BWD to recruit across the UK Pensions sector, well, and had great insight into the current position of actuarial firms and specifically across pensions operations. their strategic direction. I felt he listened to me, and as a result was able   to confirm, or challenge, my thinking as to which firms I should consider LEE MONAGHAN  | CONSULTANT approaching. I did not feel he tried to push me into options that would not Lee joined BWD in July 2019, after his graduation from the have been right, thus avoiding wasted time and effort. He provided useful University of Newcastle with a 1st in Accounting and insight on the people I would be interviewing with, to ensure I wasn’t Finance. Lee supports the division across all functions, walking in blind. Importantly, he was very responsive and reassuring at the whilst learning more about the sector. critical moments and helped calm me down when I was feeling the 06 | PENSIONS & INVESTMENTS | BWD pressure. I do not anticipate having to use a recruitment agent on a personal basis for some time but would work with Iain again if I did. PARTNER - LCP   Harry was extremely friendly, proactive and helpful from the outset and really listened to my needs and what I was looking for. Therefore, finding a new job became somewhat seamless and it felt like a very personalised experience from start to finish. Within a few weeks I received an offer from a company which feels like the perfect fit. As someone who usually avoids recruiters, I would definitely recommend BWD. SENIOR ACTUARIAL CONSULTANT

HEAD OFFICE LONDON OFFICE BWD Search & Selection Ltd. BWD Search & Selection Ltd. St. James House Fox Court 28 Park Place, Leeds 4 Gray’s Inn Road LS1 2SP WC1X 8HN 0113 274 3000 [email protected] @BWDSearch /company/bwd-search-and-selection