Alternatives Investment Officer
Salary Range of $150,336 - $227,364 Annually Depending on Experience
Additional Potential of up to 30% of Base Compensation
Oregon State Treasury (OST) is recruiting for the position of Alternatives Investment Officer. This position will be located in our Tigard, Oregon location. This position will report to the Senior Alternatives Investment Officer and is part of the Investment Division.
This recruitment will be used to fill one new position. This is a management service position.
The Oregon State Treasury is the state of Oregon’s financial hub. It oversees the investment of a public trust fund portfolio that is approaching $100 billion in assets under management, and is diversified across a variety of capital market and alternative investment strategies. To manage that portfolio, Treasury also maintains supporting functions including internal auditing, investment operations, legal, compliance, corporate governance and cybersecurity. Treasury manages a banking program that processes more than $250 billion in transactions annually, a debt management program responsible for issuing and monitoring approximately $10 billion in state debt, and a defined contribution program that allows members of the public to invest via 529 savings funds for higher education or disability-related costs, and via IRAs for retirement.
The Investment Division, currently comprised of 50+ individuals, is one of the five OST divisions and is responsible for managing the investment of the Oregon Public Employees Retirement Fund (OPERF), the State Accident Insurance Fund, the Oregon Short-Term Fund, the Common School Fund and numerous other state and state agency accounts. The division also manages the investment program for the state’s deferred compensation plan, advises the Oregon 529 College Savings Board on its investment activities, and serves as staff to the Oregon Investment Council (OIC). The division oversees the actual investments, which are made by a select group of outside investment managers, as well as provides internal management capabilities for select mandates comprised of common stock, fixed income and money market securities.
The primary purpose of this position is to support the day-to-day investment and administrative activities of the Alternatives Portfolio, and to share the ongoing oversight of various limited partnerships with the Senior Alternatives Investment Officer. Beyond its performance objective, the Alternatives Portfolio was established to provide a source of diversification for OPERF, seeking less correlated and diversifying sources of returns, as well as inflation hedges or inflation-sensitive returns. The Portfolio is comprised of three primary sectors: Infrastructure (25%), Natural Resources (35%), and Diversifying Strategies (40%).
OST offers an attractive benefit package which provides contributions toward Public Employee Benefit Board (PEBB) sponsored individual and family health and dental insurance and term life insurance. Other benefits include participation in the Oregon Public Service Retirement Plan (OPSRP), paid holidays and paid vacation, and both sick and personal leave time. Optional benefits include long- and short-term disability and participation in the Oregon Savings Growth Plan (a deferred compensation plan).
You must have the following:
• A minimum of ten years’ experience reviewing, analyzing or managing equity or similar risk asset portfolios, including a specific focus on infrastructure, natural resources, or other private or alternative investment portfolios; and
• A solid understanding of both public and private investment markets; and
• A Bachelor's Degree in Finance, Economics, Business or a related field or a Bachelor's Degree demonstrating the capacity for the knowledge and skills.
The Chartered Financial Analyst (CFA) designation or Chartered Alternative Investment Analyst (CAIA) designation or working toward the CFA designation or CAIA designation is preferred.
DUTIES AND RESPONSIBILITIES
Conducts independent evaluation of investment proposals submitted for possible portfolio inclusion. Receives and reviews offering memoranda, takes frequent meetings with prospective general partners, managers and placement agents and determines whether further review of proposed investments is appropriate. Expected analysis encompasses the identification and documentation of each investment opportunity and its unique characteristics, evaluation of those characteristics relative to other, competing alternative investment opportunities, general partner track record assessment and a thorough inventory and evaluation of all other terms and conditions.
Screens prospective investments and works with the Senior Alternatives Investment Officer on favorable recommendations for further evaluation. Performs due diligence and works with Oregon Investment Council (OIC) advisory firms on their due diligence efforts prior to OIC recommendation for commitment approval. Works with legal counsel to negotiate terms and conditions of various agreements and contracts, following approval. Due diligence efforts require on site visits to the general partners to make independent, qualitative assessments thereof. Works with Senior Alternatives Investment Officer and Alternatives Program Team Leads to determine whether or not an investment recommendation should be made and presented. Prepares presentation material in support of recommendation to either the OIC or Alternatives Portfolio Committee. Works with external managers to assess and evaluate potential co investment opportunities arising from general partnerships within the OPERF Alternatives Portfolio.
Manages relationships with existing general partners with which OPERF has invested. Represents OST and the OIC on various general partnership management Advisory Boards, participates on Advisory Board conference calls and attends annual general partnership and Advisory Board meetings. Meets frequently with existing general partners to discuss individual portfolio company and fund-level performance. Works with other limited partners to discuss and resolve partnership issues of mutual interest which may entail initiating action consistent with partnership’s terms and conditions. Monitors partnership compliance, fee and performance metrics using reports from, and discussions with, advisors and general partner personnel, and evaluates findings on both an absolute and relative basis. Uses various systems to analyze and evaluate the overall Alternatives Portfolio, individual partnerships and specific portfolio companies. Works with the distribution agent to liquidate in kind distributions from general partners, as necessary.
Works in conjunction with the Senior Alternatives Investment Officer to monitor and coordinate the activities of the advisory firm retained to monitor and report on the Alternatives Portfolio. With the Senior Alternatives Investment Officer, may make presentations to the OIC regarding investment recommendations and portfolio review.
Works independently and as guided to perform industry and portfolio analysis and conduct research projects in support of the Alternatives Portfolio. Attend industry related conferences and events.
Physical and Mental Demands of the Job:
Must be able to travel regularly in state, regionally, nationally and, occasionally, internationally. Assist with the management and administration of a multi-billion dollar investment program. Give presentations to the OIC and other external audiences as appropriate.
HOW TO APPLY
Apply using the State of Oregon on-line recruitment system (link below):
We will accept applications through November 22, 2017; however, we may close this recruitment early if we receive a well-qualified pool. If interested, please apply early.
The on-line recruitment program will require you to:
1) Fill out the application
2) Upload your resume
3) Upload a cover letter that describes your experience, education and training related to the desired attributes listed below (no more than three pages in length):
• A broad demonstrated knowledge of alternative investment strategies and markets, as well as a familiarity with institutional managers in infrastructure, natural resources, and diversifying strategies investment management. Describe how you obtained this knowledge and your plan to continue advancing your knowledge in your field.
• Experience selecting, monitoring, and managing financial relationships. Describe your investment analysis skills.
• Describe your ability and experience with communicating complex elements of managing alternative investment portfolios (include how you articulate key issues to multiple constituencies).
• Educational background with a firm grounding in economics and investments.
• A demonstrated commitment to integrity, ethics, and independence. Familiarity with CFA Institute Standards of Practices Handbook.
• Ability and willingness to travel out of state and out of country.
Prospective employees are subject to an extensive background check that may include, but not be limited to, validation of all application materials, prior employment and personal references, credit history, driving records and fingerprint-based state and federal criminal and civil records. Adverse background data may be grounds for immediate disqualification.
OST does not offer visa sponsorships, and within three days of hire, the successful candidate will be required to complete the U.S. Department of Justice form I-9, confirming authorization to work in the United States.
Eligible veterans who meet the qualifications will be given veterans' preference. To receive preference you MUST attach appropriate documentation as outlined by the Department of Administrative Services at the following website: http://www.oregon.gov/jobs/Pages/Veterans.aspx . You may also call the Oregon Department of Veterans' Affairs at 1-800-692-9666
OST is an equal opportunity, affirmative action employer committed to a diverse workforce.