Business Analyst - Covenant


Business Analyst - Covenant

Business Area: Finance

Place of Work: Liverpool

Contract Type: Fixed Term Contract

Hours: Full Time

The Universities Superannuation Scheme (USS) has circa 396,000 members, and over £60 billion in assets, we’re one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, we’re entrusted by over 350 higher education sector employers to manage and administer the pension scheme and its investments through our two companies, Universities Superannuation Scheme Limited and USS Investment Management Limited.
Our purpose
Working with Higher Education employers to build a secure financial future for our members and their families.


The role
To support the USS covenant monitoring framework, in particular by overseeing the process for collection, analysis and reporting of data required to monitor the financial health of sponsoring employers, and by supporting any employer engagement required.
Key responsibilities
Supporting the establishment of the covenant monitoring framework
• To support the implementation of the debt monitoring framework and associated processes
• To support further development and embedding of the covenant monitoring framework
• To evaluate the technology required for data capture/analysis and for provision of efficient and robust analytical processes and outputs on ongoing basis.

Data collection and analysis
• To manage the collection, and data quality checking, of the financial and other covenant monitoring data from sponsoring employers.
• To review and analyse the financial data provided by employers and calculate key metrics in order to monitor the financial health of sponsoring employers and identify where further action may be required.
• Identification of potential data quality / consistency/ definition issues
• To evaluate and recommend additional covenant-strength data / key indicators through industry research and analysis.
• To collate and monitor non-financial institutions data where appropriate

Case management and employer engagement – Unsecured debt metric exceedances
• Working with employers exceeding the metrics to obtain and analyse business plans and support creation of mitigation plans where necessary

Case management and employer engagement - new secured debt arrangements
• To support the evaluation process for in-scope employers who notify USS, as part of covenant monitoring framework, of their intention to take out new security
• To triage such cases by reviewing against covenant enhancing criteria.
• To perform analysis to support and advise on the covenant impact of corporate transactions
• To support engagement and coordination of legal / other professional advisers engaged to progress the taking of security where required.

Stakeholder engagement
• To support effective collaboration with internal teams as well as FDs and finance departments of c150 in-scope employers as required
• To collate submissions to the USS Pensions Committee and other governance levels

• Providing data analysis to support the delivery of [quarterly] covenant reporting to the USS Pensions Committee
• Providing data analysis to support the delivery of relevant insightful industry reports on a regular and event-driven basis to governance committees and boards.
• To provide data analysis to support triennial covenant assessments, including forming a view on the strength of the employer covenant
Your experience
• Financial acumen / Corporate data analysis – experience in analysing and interpreting financial statements, business plans including financing arrangements
• Expertise in a broad range of management information systems, including extracting and analysing data, creation of data reports and the development of new data management and reporting solutions
• A solid understanding of the UK pensions industry and/ or the UK Higher Education sector
• An Accounting (ACA/ACMA/ACCA) or similar qualification (e. g. CFA)
USSL is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We recognise the diverse lifestyles and priorities of our employees and have reflected this in in the company’s Flexible Working Framework, which, wherever possible, supports employees to find a balance that works for them whilst ensuring we always put our members’ interests first.

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