Associate Partner - Aon : Job Details

Associate Partner - Covenant Team (Pensions)

Aon are currently recruiting an experienced Covenant Consultant into the Pensions Covenant Team in London. The Associate Partner will be primarily responsible for providing covenant advice to pension scheme trustees and sponsoring companies including on covenant strength, the impact and regulatory consequences of corporate activity, and the implications for the pension scheme’s strategy.

What the day will look like

• Advising clients (typically pension scheme trustees or sponsors) on covenant strength, corporate activity, regulatory interventions associated matters
• 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 communicating the findings to the pension fund trustees
• Leading multiple assignments and client relationships
• Supporting the team in growing the covenant practice through internal and external networking channels
• Promoting the team within Aon and externally through their network, and helping to grow the business
• Supporting the development of our colleagues through the managing and coaching of junior colleagues, and effective people management

Skills and experience that will lead to success

• Demonstrable experience of working and advising on a range of employer covenant matters
• Familiarity with current issues facing defined benefit pension schemes (broadly, not just limited to covenant) and the regulatory landscape
• Experience of developing existing client relationships, growing existing mandates and winning new business
• Ability to promote the covenant team internally and externally through building their network
• Enthusiasm to grow the covenant business, develop new propositions and support our colleagues

Aon is in the business of better decisions

At Aon, we shape decisions for the better to protect and enrich the lives of people around the world.

As an organisation, we are united through trust as one inclusive, diverse team, and we are passionate about helping our colleagues and clients succeed.

Retirement & Investment

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 leading risk to improving member engagement, setting an investment strategy to running 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 subject areas, enabling us to serve our clients' unique needs every step of the way.

Covenant Team

Aon’s covenant consulting team has five consultants and has advised the trustees/employers of over 300 pension schemes whose assets vary in size from £10m to £6bn. Aon’s 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 (e.g. restructuring, M&A, special dividends, etc) could have on their ability to support 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 and its longer-term strategy for paying pensions. These schemes can often be meaningful (e.g., £ billions) and represent some of the UK’s largest institutional investors which explains why DB pensions dominate the financial press and why pensions covenant consulting is such a high-profile role.

To cope with increased client demand and help to grow our practice, we are seeking an experienced covenant advisor to lead on client mandates, nurture the talent in our team, and help develop and promote new propositions for a changed pensions landscape.

The Covenant team has bold growth plans and has just appointed a new leader, so this is a great opportunity to help build and develop a covenant practice that is fit for the latest challenges faced by pension schemes and their sponsors.

How we support our colleagues

In addition to our comprehensive benefits package, we encourage a diverse workforce. Plus, our agile, inclusive environment allows you to manage your wellbeing and work/life balance, ensuring you can be your best self at Aon. Furthermore, all colleagues enjoy two “Global Wellbeing Days” each year, encouraging you to take time to focus on yourself. We offer a variety of working style solutions, but we also recognise that flexibility goes beyond just the place of work... and we are all for it. We call this Smart Working!

Our continuous learning culture inspires and equips you to learn, share and grow, helping you achieve your fullest potential. As a result, at Aon, you are more connected, more relevant, and more valued.

We provide individuals with disabilities reasonable accommodations to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment in accordance with applicable law. Please contact us to request an accommodation on 

Aon values an innovative, diverse workplace where all colleagues feel empowered to be their authentic selves. Aon is proud to be an equal opportunity workplace.