Head of Investment Strategy

Challenger Limited is an ASX-listed investment management firm managing $120 billion in assets (as at 30 June 2026). Life with us is fast moving and always exciting. Together we’re driving to deliver our vision to provide our customers with financial security for a better retirement.

 

We achieve this goal by providing a work environment where people from diverse backgrounds, with a range of skills and experiences can contribute and succeed.

Head of Investment Strategy 

Challenger Investments | Sydney  

An opportunity has arisen for an experienced and forward-thinking investment professional to step into the role of Head of Investment Strategy. This role offers a rare opportunity to join a highly regarded investment function at an important point in its evolution. 

The Head of Investment Strategy is responsible for developing and maintaining the investment strategy for Challenger’s insurance balance sheets and broader investment portfolios. The role leads strategic asset allocation, liability-aware investment strategy and portfolio optimisation to support sustainable investment returns, capital efficiency, liquidity and policyholder obligations within approved risk appetite and regulatory requirements. 

Working across the insurance entities and broader asset management teams, the role provides objective, forward-looking investment advice to senior management, Boards and investment committees. It translates corporate objectives, liability characteristics, market conditions and regulatory constraints into clear portfolio strategies and implementation priorities, and monitors whether portfolio outcomes remain consistent with objectives. 

Key responsibilities 

Investment Strategy and Strategic Asset Allocation

 

• Lead the development, review and recommendation of investment strategies and strategic asset allocations for insurance balance sheets and other relevant portfolios, integrating liability characteristics, capital requirements, liquidity needs, risk appetite, accounting outcomes and return objectives. 

• Establish strategic portfolio objectives, risk budgets, target allocations and implementation parameters for cashflow-matching and surplus portfolios, consistent with the asset-liability management framework of each insurance entity. 

• Development of long-term capital-market assumptions and portfolio scenarios, drawing on the expertise of asset-class investment teams. 

• Evaluate emerging asset classes, investment strategies and structural opportunities that may improve risk-adjusted returns, diversification or capital efficiency. 

• Oversight of investment product pricing and development, including the evaluation of investment implications to liability origination, capital management and business planning. 

Portfolio Construction and Implementation 

• Translate approved investment strategies into portfolio construction parameters, allocation priorities, capacity requirements and implementation plans. 

• Optimise portfolio outcomes across investment return, capital usage, liquidity, accounting volatility and cashflow matching. 

• Provide strategic direction on rebalancing and deployment priorities while maintaining appropriate separation from transaction execution. 

Governance and Performance 

• Provide objective investment advice to the Group CIO, senior management, investment committees and relevant Boards, and lead the preparation of investment strategy recommendations and Board and committee papers. 

• Provide investment return, portfolio, liquidity and capital assumptions for business planning, product pricing, forecasting, stress testing and capital management. 

• Explain the drivers of actual and expected investment outcomes to executive and governance forums and develop forward-looking indicators and stress scenarios to identify emerging portfolio risks and opportunities. 

Leadership and Stakeholder Management 

• Lead and develop the Investment Strategy function and establish clear accountability across strategy, portfolio analytics and implementation oversight. 

• Build effective partnerships with senior management, investment teams, Risk, Finance, Actuarial, Product, Treasury and Operations. 

What We’re Looking For 

We’re seeking a senior investment professional with deep expertise in insurance and liability-aware investing, complemented by strong knowledge of fixed income and credit markets. 

You’ll bring a track record of shaping investment strategy and influencing decisions at executive committee and Board level. You’ll be comfortable operating in a highly visible role, leading senior investment professionals and working closely with a broad range of stakeholders. 

More broadly, you’ll bring: 

• Significant senior experience in institutional investment strategy, strategic asset allocation or portfolio construction, within insurance, pension, sovereign, superannuation or similarly liability-aware environments. 

• A strong understanding of how investment strategy interacts with capital, liquidity and accounting outcomes, together with investment risk management and regulatory requirements. 

• Demonstrated ability to translate strategic asset allocation into multi-asset portfolio construction parameters and effective implementation priorities. 

• Strong commercial judgement and analytical capability, with the ability to identify the material implications of complex investment analysis. 

• Exceptional written and verbal communication skills, with the ability to turn that analysis into concise, decision-focused recommendations. 

• A collaborative approach and a genuine interest in building relationships across a broad investment ecosystem. 

• Relevant tertiary qualifications in Finance, Economics, Commerce or a related discipline. CFA or an equivalent professional qualification will be highly regarded. 

Why Join Challenger?  

You'll join a high-performing, intellectually curious team with a clear focus on delivering long-term outcomes for customers. For professionals seeking broader influence, greater strategic exposure this represents a compelling next step.  

 
We provide access to a range of exclusive employee benefits that will support you both personally and professionally and a hybrid work environment including.   

• Discretionary bonus scheme  

• Employee share plan  

• Eighteen weeks paid leave for all new parents  

• Flexibility on when, and how, parental leave is taken  

• Challenger Day – one extra day off every year in recognition of the effort our people make  

• Subsidised on-site café and fantastic central location a stone's throw from Martin Place Metro   

• Additional support leave (fertility treatment leave, gender affirmation leave)  

• Access to Fitness Passport   

#LI-GW1 
#LI-Challenger 
#LI-Hybrid 

  

Challenger's employee value proposition guides how we work: Grow and realise your potential, supporting each other, stronger together and making things happen. Our culture encourages curiosity, considered thinking and meaningful contribution, with opportunities to build a broad and rewarding career.

 

We are committed to fostering a safe, inclusive and respectful workplace where people of all backgrounds, identities and ways of thinking can thrive, and promoting flexible working to support work-life balance. 

 

Challenger is proud to be a Workplace Gender Equality Agency (WGEA) Employer of Choice for Gender Equality, a Family Friendly Workplace and recognised as a Bronze Employer in the Australian Workplace Equality Index (AWEI), the national benchmark for LGBTQ+ workplace inclusion.

Job type:

Permanent

Posting Close Date :

30/10/2026