C

Challenger

Asset management for retirement income strategies

Head of Investment Strategy

Full-TimePosted on 10/16/2026Deadline 10/30/26
No salary listed
Expert
Bachelor's
Sydney NSW, Australia
Hybrid
Finance & BankingAsset Management

About the job

Requirements
  • Significant senior experience in institutional investment strategy, strategic asset allocation, or portfolio construction within insurance, pension, sovereign, superannuation, or similarly liability-aware environments.
  • 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 analysis into concise, decision-focused recommendations.
  • A collaborative approach and genuine interest in building relationships across a broad investment ecosystem.
  • Relevant tertiary qualifications in Finance, Economics, Commerce, or a related discipline.
Responsibilities
  • 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 each insurance entity's asset-liability management framework.
  • Develop 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.
  • Oversee investment product pricing and development, including evaluating investment implications for liability origination, capital management, and business planning.
  • 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.
  • Provide objective investment advice to the Group CIO, senior management, investment committees, and relevant Boards, and lead 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 actual and expected investment outcome drivers to executive and governance forums, and develop forward-looking indicators and stress scenarios to identify emerging portfolio risks and opportunities.
  • 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.
Desired Qualifications
  • CFA or an equivalent professional qualification will be highly regarded.

About the company

Challenger is an ASX-listed investment manager focused on helping people retire with financial security. It operates through two main units: Life and Funds Management. The Life business offers retirement income solutions and insurance-like products, funded by customer premiums and investments, designed to deliver steady, reliable income in retirement. The Funds Management arm runs investment portfolios and funds across various asset classes for clients, aiming for consistent performance and risk-managed growth. Challenger differentiates itself by specializing in retirement security, leveraging its long history (since 1985) and its scale (about $131 billion in assets under management) to provide safe, steady income rather than high-risk growth. The company’s goal is to provide customers with financial security for a better retirement.

Company Size

501-1,000

Company Stage

IPO

Headquarters

Sydney, Australia

Founded

1985

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Simplify's Take

What believers are saying

  • FY26 NPAT rose 3% to $468 million, and statutory NPAT jumped 163%.
  • August 2026 results lifted the buyback to $450 million and dividends to 31.5 cents.
  • New 2026 retirement channels unlock millions of customers and half a trillion assets.

What critics are saying

  • Pepper Money rejected Challenger’s March 2026 bid as not reasonably capable of execution.
  • FY26 life cash operating margin fell to 3.06%; tight credit spreads squeeze earnings.
  • A prolonged spread collapse would erase Challenger’s annuity economics and stall the business model.

What makes Challenger unique

  • Challenger owns Australia’s retirement-income niche, backed by 2026 Iress, Insignia, BT, and CFS partnerships.
  • Its 2026 APRA capital reset improved ROE, buybacks, and growth economics simultaneously.
  • Damian Graham joined in January 2026, unifying life and funds management investing.

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Benefits

  • 40

Growth & Insights and Company News

Headcount

6 month growth

-5%

1 year growth

-5%

2 year growth

-5%
Avenews
Oct 18th, 2026
Daiichi Life unit proposes takeover valuing Challenger at A$7.94 billion.

Daiichi Life unit proposes takeover valuing Challenger at A$7.94 billion. The Japanese insurer's unit proposes paying A$11.80 a share for the rest of the Australian investment manager, with Challenger's board considering the conditional offer. A unit of Japanese insurer Daiichi Life has submitted a preliminary takeover proposal that values Australian investment manager Challenger at A$7.94 billion. Challenger disclosed the proposal on October 19, according to a Reuters report carried by CNA.[1] The bidder, TAL Daiichi Life Australia Pty, already holds 20.36% of Challenger, according to LSEG data cited by Reuters. TAL proposes buying the remaining shares - more than 79% of the company - which would give it full ownership if completed.[1] The proposed price is A$11.80 a share, 19.8% above Challenger's closing share price on the preceding Friday. The A$7.94 billion valuation is for Challenger as a whole, rather than just the shares TAL proposes buying.[1] Challenger said the proposal is subject to several conditions, including satisfactory completion of due diligence - a detailed examination of the business. Its board is considering the indicative offer; the takeover has not been agreed or completed.[1] Sources. Follow AveNews on X Join the list for future editions.

Super Review
Oct 15th, 2026
MLC retirement income product reaches $1.2bn FUM.

MLC retirement income product reaches $1.2bn FUM. MLC Retirement Boost has attracted $1.2 billion in its first year, highlighting adviser demand for income beyond traditional pensions. Reading Time: 3 mins read Helping clients turn superannuation savings into retirement income has emerged as a focus for advisers using MLC Expand, with its Retirement Boost product reaching $1.2 billion in funds under management a year after launch. MLC director of retirement innovation Ashton Jones said the growth reflected a shift in retirement planning, as attention moved from building balances towards understanding how much income those savings could deliver. "For a long time, retirement has been framed around accumulation. The next challenge is helping Australians understand what they can receive in retirement, so they can live life with more confidence rather than hold back because they are worried about running out," Jones said. The product, developed with TAL and Challenger, allows clients to move between a superannuation savings phase and a pension phase designed to provide income for life. Its pension component can operate independently or alongside an account-based pension. MLC Expand said Retirement Boost had become the fastest growing innovative retirement income stream (IRIS) product on a wrap platform, with chief executive Liz McCarthy pointing to demand for options that advisers could incorporate into their existing client relationships. "Retirement is one of the biggest financial challenges facing Australians, and advisers are looking for practical ways to help clients feel more confident about the income they can receive in retirement," McCarthy said. "What has been pleasing is that advisers are not just seeing MLC Retirement Boost as another product. They are seeing it as a practical way to have a different conversation with clients about confidence, certainty and how they can make more of their super in retirement." Alongside lifetime income, the product's design potentially enables clients to access Age Pension means test concessions during its superannuation phase, which otherwise operates like a standard super account. According to MLC Expand, combining Retirement Boost with traditional retirement products such as an account-based pension can provide up to 60 per cent more income in retirement. The release cited Chant West research finding that strategies incorporating the product could deliver higher annual income through a combination of payments continuing for life and higher Age Pension payments. Jones said advisers' ability to explain and implement retirement income strategies depended on the support available alongside the product. "That is why it's not just the product, but the service model that matters. Advisers need more than a strong product. They need education, tools, technical support and a platform experience that makes it easier to bring these conversations to life with clients." That support includes MLC Expand's Centre of Excellence, established through the partnership with TAL and Challenger, which provides technical insights, case studies, calculators, client support tools and dedicated assistance. MLC Expand has continued to develop the service and recently introduced an Income Deferral feature, with further product changes planned over the next 12 months.

RegTech Solutions
Sep 11th, 2026
Artius Global selected by Challenger Limited for global shareholder disclosure reporting.

Artius Global selected by Challenger Limited for global shareholder disclosure reporting. RegTech Solutions is pleased to announce that Artius Global has been selected by Challenger to support the monitoring and management of shareholder disclosure obligations across its Australian and international investment activities. Challenger Limited is Australia's leading retirement income business and is listed on the Australian Securities Exchange (ASX:CGF). The implementation of Artius Global's Shareholding Disclosure solution will provide the Challenger Group with a consolidated operating model, integrating investment and market data, regulatory rules, exposure aggregation, threshold monitoring and regulatory reporting within a single platform. Supporting multi-jurisdictional disclosure requirements. The solution will support Challenger's compliance across a broad range of regulatory regimes, including Australia's new enhanced shareholder disclosure regime and US SEC Rules 13F and 13H. The implementation also includes integration with Challenger's existing systems and data architecture, together with ASIC FIX short-sell connectivity, as part of the deployment of an automated end-to-end shareholding disclosure process. The engagement follows a selection process undertaken by Challenger, with implementation now underway and deployment progressing on schedule. Bringing regulatory expertise and technology together. Jacqueline Pang, CEO of Artius Global, said: "We are delighted that Challenger has selected Artius Global to support its shareholding disclosure obligations. "The scope of the implementation reflects the increasingly complex nature of shareholding disclosure obligations across multiple jurisdictions, legal entities, investment structures and regulatory regimes. Our role is to provide the data expertise, the regulatory technology and implementation experience required to bring this altogether within a single scalable operating model." Artius Global's Shareholding Disclosure solution provides extensive market coverage and configurable flexibility across a broad range of disclosure regimes. Developed by practitioners with deep regulatory experience, the solution is designed to simplify complex regulatory and operational processes through scalable technology, efficient workflows and robust controls. "RegTech Solutions PTY LTD. is pleased with the progress of the implementation and look forward tThe engagement follows a selection process undertaken by Challenger, with implementation now underway and deployment progressing on schedule. Jacqueline Pang, CEO of Artius Global, said: "We are delighted that Challenger has selected Artius Global to support its shareholding disclosure obligations. "The scope of the implementation reflects the increasingly complex nature of shareholding disclosure obligations across multiple jurisdictions, legal entities, investment structures and regulatory regimes. Our role is to provide the data expertise, the regulatory technology and implementation experience required to bring this altogether within a single scalable operating model." Artius Global's Shareholding Disclosure solution provides extensive market coverage and configurable flexibility across a broad range of disclosure regimes. Developed by practitioners with deep regulatory experience, the solution is designed to simplify complex regulatory and operational processes through scalable technology, efficient workflows and robust controls. "We are pleased with the progress of the implementation and look forward to supporting Challenger and delivering accelerated time-to-value," Jacqueline said. Connecting global RegTech capability with Australian institutions. For RegTech Solutions, the engagement reflects its role in identifying proven specialist regulatory technology internationally and connecting those capabilities with Australian financial institutions facing increasingly complex regulatory and operational requirements. Hugh Treweeke, CEO and Managing Director of RegTech Solutions, said: "Increasing complexity and financial sanctions attached to shareholder disclosure requirements is creating a strong case for specialist regulatory technology, particularly for Australian financial institutions operating across multiple markets and regulatory regimes. "Our role at RegTech Solutions is to identify proven international capabilities and connect them with Australian institutions facing increasingly complex regulatory and operational requirements. Artius Global combines regulatory intelligence, data aggregation and reporting into a single operating model. "We are pleased to introduce Artius Global to Challenger and to support the engagement." About Artius Global. Artius Global is a global RegTech firm headquartered in Singapore that specialises in simplifying regulatory disclosures. Its Shareholding Disclosure solution covers more than 100 capital markets and multiple regulatory regimes, including substantial shareholding, short selling, sensitive industries and issuer limits.

Financial Standard
Jun 12th, 2026
Top campaigns of the year recognised at MAX Awards.

Top campaigns of the year recognised at MAX Awards. The latest issue of Financial Standard now available as an e-newspaper General | / | / | / | / | Top campaigns of the year recognised at MAX Awards BY STAFF WRITER | FRIDAY, 12 JUN 2026 12:46PM Leaders in Australia's financial services industry came together last night to celebrate the 32nd annual MAX Awards with the top campaigns being recognised. The community initiative of the year award was won by UniSuper for its STARS project. The best campaigns for ETF products was won by Macquarie Asset Management in a hybrid campaign with Fundamental Media for the Macquarie Active ETF. Stockspot took home the win for the financial advice campaign of the year for its Smart Investing, Simplified campaign. For the financial education campaign of the year Generation Life took home the gong for it's Nothing More Certain campaign. In the insurance category, TAL's Life takes Guts campaign won campaign of the year. La Trobe Financial won the Managed Funds Campaign of the Year for the La Trobe Private Credit Fund (LF1). MLC Expand Retirement Boost won in the Platforms Campaign of the year. The Retirement Campaign of the Year award went to Challenger for its Lifetime Proposition campaign. Lastly, for the campaigns category, Australian Retirement Trust won the award for its Awaken your super campaign. "We congratulate the winners of this year's awards. They reflect the best and brightest in the industry and have demonstrated investment excellence in uncertain times," Rainmaker manager director Chris Page said. "With trillions of dollars pouring into retail investments and superannuation, investors and retirees need investment managers of the highest calibre to safeguard and grow their wealth. Our research shows these awards bring together an outstanding lineup of funds that investors can back with confidence." More than 2300 votes across all categories were received. Read more: TAL, Australian Retirement Trust, Challenger, Chris Page, Fundamental Media, Generation Life, La Trobe Financial, Macquarie Asset Management, MLC Expand Retirement Boost, Rainmaker, Stockspot, UniSuper VIEW COMMENTS Related News | | | Industry leaders and rising stars named at MAX Awards | | | | MAX Awards celebrates industry leading teams | | | | HUB24 expands retirement options with TAL | | | | CFS plots 'largest' retirement product expansion with new alliance | | | | Financial services investment leaders celebrated | | | | ASIC, APRA target insurers' TPD product sustainability | | | | Lack of awareness impacts retirement satisfaction: TAL | | | | TAL appoints two new board members | | | | ART appoints two to board | | | | Generation Life snags super fund's head of risk Editor's choice. Australian superannuation funds are increasingly turning to digital advice tools to bridge the longstanding gap between members needs and access to affordable financial guidance, according to executives at wealth technology Bravura Solutions. SpaceX has raised US$75 billion ($106.8bn) in the biggest-ever stock market debut, valuing Elon Musk's rocket and satellite company at US$1.77 trillion. Energy transition infrastructure investor Quinbrook has appointed Tim Horneman as region leader for Australia, formalising his responsibility for the firm's local investment activities and business operations. The former chief operating officer of the Association of Superannuation Funds of Australia (ASFA) has joined C1 Capital Group as chief investment and operating officer. Videos. Further Reading

Tarawera Publishing Ltd
May 29th, 2026
Lending expansion and new product to bolster Finbase.

Lending expansion and new product to bolster Finbase. Finbase has launched a new 30-year mortgage product after a $150 million capital partnership deal with ASX-listed Challenger. Friday, may 29th 2026, 9:42AM. by Sally Lindsay The new product will enable to Finbase to compete in the long-term property investment market, in particular to attract investors who want to hold rental properties. Operating in this market hadn't been feasible for Finbase until the Challenger partnership was finalised as its $300 million book was funded by wholesale investors - mainly high net worth individuals and family offices -with typically a one- to two-year investment horizon. Finbase managing director Pernell Callaghan says the capital deal opens the door to a bigger market and a rise to $500 million in funds under management within six months. After that it hopes more funds will be available from institutional investor Challenger, although that hasn't yet been discussed. Finbase is already calling on the Challenger facility weekly for lending to SMEs, sole traders, business owners and established property traders. The non-bank lender does not do residential mortgages. The average loan size has been about $700,000 over 12 months at interest rates of 6.95% to 8.45%. Lending is to a maximum of 70% LVR. Bigger loans are available. Callaghan says borrowers typically do not use their family home as leverage. Often it is an investment property or a commercial building they are running their business from. "They might want some working capital and we will take a first mortgage security against the building." The deal with Challenger allows Finbase to do more lending volume and until now demand from borrowers has been larger than what it has had available capital for. "It is a market the traditional banks have pulled back from and a gap we are filling." While demand is rising, Finbase proceeds with only 10-20% of applications it receives. Callaghan believes many of its clients could source money through traditional banks but find the amount of information required and their slowness in approving loans frustrating and detrimental to doing business. For example, if a trader needs finance to buy a property within a few days that they intend to renovate and sell within six months for a profit, Finbase can move much faster than a bank in approving a loan. A bank might want 12 months of financial statements, a cashflow forecast and a lot more information on the borrower's profile before even considering a lending decision. Callaghan says his business is based on speed and looking more closely at the borrower's history of property trading, good account conduct, security and exit strategy. "If we recognise a good deal and there is a clear exit strategy, we can make a lending decision much faster for the trader to be able to secure the property." Finbase is one of the country's bigger private credit commercial lenders. In New Zealand the market is growing. Globally it has moved from a niche corner of institutional finance to one of the fastest-growing global asset classes, surpassing US$2 trillion. Investors worldwide are shifting away from traditional fixed-income products - where yields remain compressed and liquidity is often traded for low real returns - towards direct lending and structured private debt. The trend is now gaining serious momentum in New Zealand. Following the post-Covid inflationary, and then recessionary, environment, there have been positive shifts in investor appetite and a growing acceptance from mid-market and corporate borrowers that private credit provides a compelling alternative to traditional bank financing. As bank lending becomes more constrained, and businesses seek flexible, relationship-driven capital, private credit has stepped into a vital role: funding the productive economy through disciplined, cashflow-anchored lending. Although many commentators are still singing the recession tune, Callaghan says Finbase's clients are business owners or self-employed and only earn income through their own endeavours. "Whether the economy is going well or in a recession, they are going to continue doing what they do through all cycles. Because of that they are still looking to borrow funds to complete projects, expand their businesses, or need short-term working capital." Challenger and Finbase were introduced by a senior bank in July last year. While not Challenger's first investment in New Zealand, it is the first of its kind here. An investment figure was not negotiated by either party, Callaghan says, but after six to nine months of due diligence, both came to the conclusion they could help each other's business and $150 million was agreed as the capital partnership. "Our main focus is on delivering strong assets for Challenger over the next six months, having a good book, clean credit and low defaults and arrears as well as managing the capital of our wholesale investors, who remain the cornerstone of our book. If we do a good job as the business has done so far, it will naturally grow." Special Offers No comments yet