Job Description
Credit Risk Consultant / Covenant Consultant
We're hiring!
Aon are currently recruiting a newly qualified Accountant (or similar) in to the Pension Covenant Team in London. The Consultant will be primarily responsible for providing pension scheme trustees with advice on the financial strength of their sponsors and assess the impact of any corporate activity.
About Aon
Aon Plc is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.
Aon is an equal opportunities employer. Aon's recruitment and selection policy ensures the best possible skill mix of colleagues and the highest quality candidates are appointed using objective job-related criteria.
R&I
The UK pensions landscape is evolving at a rapid pace. Economic challenges, legislative change, an ageing population and asset volatility pose a wide variety of risks and challenges to pension schemes. Trustees and scheme sponsors are faced with a range of decisions on difficult topics from managing risk to improving member engagement, setting an investment strategy to managing DC plans.
Aon Retirement Solutions' market-leading capabilities and award-winning expertise make us the perfect partner to help clients through their pension challenges. We can provide integrated and comprehensive solutions across actuarial, plan administration, investment and insurance disciplines, enabling us to serve our clients' unique needs every step of the way.
Covenant Team
Aon's covenant consulting team has 6 consultants and has advised the trustees/employers of over 300 pension schemes whose assets vary in size from £10m to £6bn. The Covenant team's revenues have doubled over the last five years and in order to cope with increased client demand, we are seeking two further Consultants who have an interest in corporate finance.
Aon's Credit Risk ("Covenant") team advises DB pension schemes on the financial strength of their corporate sponsors (e.g. food retailers, car manufacturers and drug companies) and on the impact that corporate events (eg restructuring, M&A, special dividends, etc) could have on their ability to fund their associated pension schemes. The financial strength of a sponsor influences how much investment risk a pension scheme can absorb as well as the valuation of the pension scheme's liabilities. The difference between a scheme's liabilities and assets - the pension scheme deficit - can often be substantial (eg £ billions) which explains why DB pensions dominate the financial press and why pensions covenant consulting is such a high-profile role.
The Covenant team has ambitious growth plans and this is a great opportunity to have a real impact whilst furthering your career.
About the Role
Your impact as a Consultant:
About you
Your knowledge and expertise:
This role offers a competitive salary and bonus, plus a comprehensive benefits package and 25 days holiday. Through our flexible benefits, you will also have the opportunity to choose additional benefits, including healthcare and additional holiday. We also offer tremendous potential with a growing worldwide organisation.
Our Colleague Experience
Every day, our colleagues make a difference, work with the best, own their potential, and value one another. Together, we share this one purpose: to empower economic and human possibility around the world. This unifying goal is at the heart of our identity, and it lives in everything we do. To learn more about our colleague experience, visit Aon Colleague Experience.
We're happy to talk flexible working. If you need to flex your working pattern, Aon offers flexible and agile working policies and we're happy to discuss options with you upon application
We're hiring!
Aon are currently recruiting a newly qualified Accountant (or similar) in to the Pension Covenant Team in London. The Consultant will be primarily responsible for providing pension scheme trustees with advice on the financial strength of their sponsors and assess the impact of any corporate activity.
About Aon
Aon Plc is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.
Aon is an equal opportunities employer. Aon's recruitment and selection policy ensures the best possible skill mix of colleagues and the highest quality candidates are appointed using objective job-related criteria.
R&I
The UK pensions landscape is evolving at a rapid pace. Economic challenges, legislative change, an ageing population and asset volatility pose a wide variety of risks and challenges to pension schemes. Trustees and scheme sponsors are faced with a range of decisions on difficult topics from managing risk to improving member engagement, setting an investment strategy to managing DC plans.
Aon Retirement Solutions' market-leading capabilities and award-winning expertise make us the perfect partner to help clients through their pension challenges. We can provide integrated and comprehensive solutions across actuarial, plan administration, investment and insurance disciplines, enabling us to serve our clients' unique needs every step of the way.
Covenant Team
Aon's covenant consulting team has 6 consultants and has advised the trustees/employers of over 300 pension schemes whose assets vary in size from £10m to £6bn. The Covenant team's revenues have doubled over the last five years and in order to cope with increased client demand, we are seeking two further Consultants who have an interest in corporate finance.
Aon's Credit Risk ("Covenant") team advises DB pension schemes on the financial strength of their corporate sponsors (e.g. food retailers, car manufacturers and drug companies) and on the impact that corporate events (eg restructuring, M&A, special dividends, etc) could have on their ability to fund their associated pension schemes. The financial strength of a sponsor influences how much investment risk a pension scheme can absorb as well as the valuation of the pension scheme's liabilities. The difference between a scheme's liabilities and assets - the pension scheme deficit - can often be substantial (eg £ billions) which explains why DB pensions dominate the financial press and why pensions covenant consulting is such a high-profile role.
The Covenant team has ambitious growth plans and this is a great opportunity to have a real impact whilst furthering your career.
About the Role
Your impact as a Consultant:
- Providing pension scheme trustees with advice on the financial strength of their sponsors and assess the impact of any corporate activity (e.g. impact of M&A, special dividends, etc. on pension funds);
- Dealing with senior level pension fund trustees and company executives (normally at finance director or CFO level);
- Producing high quality written financial strength analysis reports and present the findings to the pension fund trustees.
About you
Your knowledge and expertise:
- Candidates with experience of working in a financial advisory environment such as restructuring, corporate finance, insolvency would also be considered. An understanding of employer covenant matters associated with DB pensions would be useful, but not mandatory as training would be provided.
- Strong analytical, writing and inter-personal skills;
- Likely to have an accountancy, ACA, MBA or CFA qualification;
- Basic knowledge of corporate finance analysis and company valuations;
- Capacity to work with multiple clients simultaneously.
This role offers a competitive salary and bonus, plus a comprehensive benefits package and 25 days holiday. Through our flexible benefits, you will also have the opportunity to choose additional benefits, including healthcare and additional holiday. We also offer tremendous potential with a growing worldwide organisation.
Our Colleague Experience
Every day, our colleagues make a difference, work with the best, own their potential, and value one another. Together, we share this one purpose: to empower economic and human possibility around the world. This unifying goal is at the heart of our identity, and it lives in everything we do. To learn more about our colleague experience, visit Aon Colleague Experience.
We're happy to talk flexible working. If you need to flex your working pattern, Aon offers flexible and agile working policies and we're happy to discuss options with you upon application
About Aon