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 transparent 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

📌 Head of Investment Strategy (Sydney)
🏢 Challenger
📍 Sydney