Portfolio Manager

Portfolio Manager (Functions)

London or Darlington, with hybrid working arrangements.

About the role

At Railpen, we’re committed to securing our members’ futures and delivering long-term value through effective change. As Portfolio Manager, you’ll work closely with the Director of Change & Transformation (C&T) Functions to shape, prioritise and govern the portfolio for your supported business area.

You’ll provide strategic insight and constructive challenge across demand, investment, capacity, risk and organisational readiness, helping leaders focus resources on the initiatives that deliver the greatest value. Acting as a trusted advisor, you’ll connect business strategy with change delivery and deputise for the Director where appropriate. As a visible leader within C&T, you’ll actively contribute to team anchor days, leadership forums, all-hands meetings, capability communities, offsites and other in-person activities that strengthen collaboration, shared purpose and organisational culture.

To learn more about Railpen including our values, culture and purpose, visit our careers page  here .

What you’ll be doing

- Partnering with, and deputising where appropriate for, the Director of C&T to shape, optimise and govern the portfolio for the supported business area.
- Providing strategic insight, constructive challenge and clear recommendations to support portfolio decision-making, investment planning and long-term business objectives.
- Leading portfolio prioritisation, sequencing and investment-planning activities, assessing demand against strategic value, risk, cost, delivery capacity and organisational readiness.
- Maintaining an integrated view of portfolio status, priorities, budgets, capacity, risks, dependencies and opportunities to support evidence-based decision-making.
- Overseeing portfolio performance, delivery confidence, investment effectiveness, risks and dependencies, ensuring proportionate governance arrangements are in place.
- Facilitating portfolio trade-off discussions and recommending changes to priorities, sequencing or investment where constraints could affect successful delivery.
- Maintaining oversight of change demand, delivery capacity and organisational readiness, working with Project Management, Business Analysis and delivery leaders to balance portfolio outcomes and capability requirements.
- Building trusted relationships with senior business and change leaders, acting as a bridge between business strategy and change delivery and representing the portfolio in leadership and governance forums.
- Anticipating emerging risks, opportunities and portfolio implications, providing clear recommendations before they become immediate concerns.
- Continuously improving portfolio management practices, governance, planning and management information to promote simpler, more consistent and evidence-based decision-making.

What we’re looking for

You’ll be an experienced change professional with strong strategic thinking, commercial awareness and a track record of translating business priorities into a coherent and deliverable portfolio of change. You’ll bring an understanding of delivering change across corporate functions, including complex operational, process and technology environments. Combining sound judgement with strong analytical, facilitation and influencing skills, you’ll challenge constructively, build credibility with senior stakeholders and turn complex portfolio information into clear, actionable recommendations.

Essential

- Proven experience in change delivery, strategic planning or leadership within a complex organisational environment.
- Experience delivering change across corporate functions, with an understanding of complex people, process, technology, data and operational environments.
- Strong strategic thinking, with the ability to translate business strategy and operational priorities into a coherent and deliverable portfolio of change.
- Strong portfolio management, prioritisation, sequencing, investment-planning and governance capability.
- Experience balancing strategic objectives, delivery capacity, organisational readiness, risk and investment constraints to optimise portfolio outcomes.
- Experience facilitating portfolio trade-off discussions, resolving competing priorities and building alignment across senior stakeholder groups.
- Strong understanding of portfolio governance, dependency management, delivery confidence and benefits realisation.
- Commercial awareness, including investment planning, cost-benefit considerations and value optimisation.
- Ability to identify emerging risks, dependencies and opportunities and provide clear, evidence-based recommendations to senior stakeholders.
- Strong stakeholder-management, influencing and facilitation skills, with the confidence to challenge constructively at senior levels.
- Ability to build trusted relationships and operate with credibility, judgement and resilience in complex and ambiguous environments.
- Excellent communication skills, with the ability to translate complex portfolio information into clear insights and actionable recommendations for leadership teams and governance forums.

Desirable

- Experience operating within a C&T function, portfolio office or enterprise change environment.
- Knowledge of recognised portfolio management frameworks, governance practices and benefits realisation approaches.
- Experience supporting large-scale strategic transformation across multiple business areas.
- A relevant portfolio, programme or change management qualification or professional accreditation.
- Experience within a regulated, financial services, pensions or investment environment.

Why is this role exciting now?

This is an opportunity to play a central role in shaping Railpen’s change agenda at a time of continued transformation and investment. You’ll influence how demand is assessed, where change investment is focused and how priorities are balanced across a complex portfolio.

Working closely with senior business and change leaders, you’ll bring greater visibility, evidence and strategic discipline to portfolio decisions. Your impact will extend beyond individual programmes or projects, helping Railpen focus its capacity on the changes that offer the greatest strategic value and can be delivered, adopted and sustained successfully.

What you’ll get in return

- A competitive salary (depending on experience) plus generous annual bonus plan

- 28 days annual leave plus bank holidays

- We provide membership of the Railways Pension Scheme, a Defined Benefit arrangement under which you get a pension for life and a lump sum when you retire, based on your length of service and pay

- 4x Life Assurance cover

- We support hybrid and flexible working along with very generous family leave including 12 months full pay maternity leave and 6 months full pay paternity leave

- Take a look at the full range of benefits available to support you, click here (https://www.railpen.com/careers/#great-pension)

Next steps

If you’re excited by the opportunity to make a meaningful contribution and grow your career with us, we encourage you to apply by 8th October 2026

Inclusion at Railpen

At Railpen, diversity, equity and inclusion are core to who we are.  We’re committed to creating a workplace where everyone feels respected, supported and able to thrive. Our mission to secure a better future for our members is strengthened by the different perspectives and experiences our people bring.

We are transparent about our gender pay gap and are actively committed to addressing it through fair and inclusive recruitment, progression and reward practices.

We respect and support individuals’ pronouns and encourage colleagues to share them if they feel comfortable to do so.

We’re proud to be an equal opportunity employer.  We welcome applicants from all backgrounds and do not discriminate on the basis of age, ethnicity, religion, sex, sexual orientation, gender identity, disability, neurodiversity, or any other protected characteristic. If you need adjustments during the recruitment process, just let us know.