Director, Investment Services (Chief Investment Officer)
State Insurance Fund
Vacancy Notice INV 14-03
Posting Deadline: 8/15/2014
New York State Insurance Fund:
The New York State Insurance Fund (“NYSIF” or the “Fund”) is a self supporting state fund that provides workers’ compensation and disability benefits insurance in New York. With written premium of over $2 billion, NYSIF is the largest workers’ compensation insurance carrier in New York, and the sixth largest carrier in the country.
NYSIF seeks to recruit an experienced investment professional to serve as Director, Investment Services (Chief Investment Officer). Reporting directly to a Deputy Executive Director, the Director Investment Services will have ultimate responsibility for managing NYSIF’s Workers’ Compensation Fund and Disability Benefits Fund, which aggregate approximately $14 billion. The Director will make independent decisions relative to NYSIF’s portfolio on a daily basis and will report monthly on NYSIF investments to a sub-committee of NYSIF’s Board of Commissioners. At such monthly meetings, the Director will articulate NYSIF’s long and short term market strategies and report results.
Duties include but are not limited to:
• Overall management of the investment assets of the Fund.
• Advise the Board of Commissioners, Executive Director and Deputy Executive Director on investment strategies, policies, and long and short term investment proposals.
• Working with an investment consultant, formulate and recommend overall investment policy, asset allocation and external manager selection for the Board’s consideration.
• Establish investment criteria and procedures based on the Fund’s investment strategy, overall policies of the Board of Commissioners and fiduciary principles and guidelines.
• Provide ultimate management oversight to the Investment Department, directing investment staff engaged in the research, development and implementation of investment plans for the Fund.
• Formulate and implement all Fund investment policies and procedures.
• Oversee the monitoring and performance review of the Fund’s portfolios.
• Bachelor’s degree, although preference may be given to candidates who have obtained an MBA or CFA.
• At least (7) seven years of relevant investment experience in institutional investing which involved the management of a portfolio of $200 million or higher. Preference may be given to candidates whose experience has been acquired in a large financial institution such as the investment department of a bank or savings institution, a large pension fund, an insurance company, or an investment company.
• At least (2) years of such experience must have included management/supervisory responsibility of a professional investment staff.
• A track record of success as an institutional investor.
• In-depth knowledge of the theory and practice of asset allocation, portfolio risk management and investment structuring.
Contact Address: The State Insurance Fund
15 Computer Drive West
Albany, NY 12205