About the City
The City of San José, the Capital of Silicon Valley, is one of the top ten cities in which to live, work, and do business. Moreover, San José is a center of cultural, government and economic activity. The City has embraced the following values: Integrity, Innovation, Excellence, Collaboration, Respect and Celebration. The Office of Retirement Services is seeking an individual whose values align with the values of the City's employees. The mission of the Office of Retirement Services is to provide quality services in the delivery of pension and related benefits, and maintain financially sound pension plans.
Position Duties of Retirement Investment Officer
The Office of Retirement Services (ORS) is seeking an exceptionally talented and high-performing individual to manage approximately $1.8 billion in Global Equity assets. The Retirement Investment Officer will work closely with the CIO, Investment Officers, and Analysts, as well as engage the Investment Committee and Board. This is a unique opportunity to join a highly collaborative, professional, and forward-thinking team. Travel (5-20%) will be required.
The Retirement Investment Officer (RIO) will report to the Chief Investment Officer and is primarily responsible for analysis and implementation of the Global Equity asset class.
The RIO will develop the investment and implementation strategy for 4 distinct Global Equity investment programs totaling approximately $1.8 billion. The RIO will structure the Global Equity Asset Class, perform risk analysis, and investment manager due diligence. Due diligence will include passive, active, and hedged strategies. In addition, the RIO will suggest appropriate guidelines and policies, and may need to develop appropriate procedures for overseeing the Global Equity program The RIO will develop a comprehensive investment strategy for the Global Equity program, and will produce a detailed review of the program at least annually for the Investment Committee.
The RIO will source and perform due diligence on potential investment managers as well as current investment managers. Due diligence can require on-site visits to the investment manager. The RIO will collaborate with the investment program’s investment consultants.
Utilizing the MSCI BarraOne risk system, the RIO will monitor the Global Equity program’s risk and underlying exposures, ensuring consistency with policy and expectations, and recommend changes if warranted. He/she will negotiate investment manager contracts, review all partnership agreements, work with outside legal counsel to negotiate attractive terms and conditions, and determine acceptability of contracts.
The RIO will collaborate with other members of the investment team, and may be asked to support the work of other investment officers in different asset classes, as well as support the CIO on ad hoc projects.
Education: Bachelor Degree from an accredited college or university in finance, financial
engineering, mathematics, economics, actuarial science or a related field.
Experience: Five years of related work experience in a defined benefit retirement fund,
investment consulting, investment management, financial services, or pension consulting.
Licensing: Possession of at least one of the following certifications is highly desirable:
Chartered Financial Analyst (CFA) Certification; or
Chartered Alternative Investment Analyst (CAIA) Certification
Acceptable Substitutions: Post-graduate degree from an accredited college or university in
finance, mathematics or economics or other field involving mathematical modeling may
substitute for one year of the required experience.
Employment Eligibility: Federal law requires all employees to provide verification of their eligibility to work in this country. Please be informed that the City of San Jose will not prepare or file a labor condition application with the Department of Labor.
1) Advanced degree (Masters preferred) preferably in finance, financial economics/mathematics or business and 5-7 years of relevant investment management-related experience or equivalent combination of education and relevant experience. CFA or progress towards CFA highly desirable.
2) Significant experience in investment management industry and financial markets including investing through external managers, direct investing, or investment consulting.
3) Familiarity with a wide array of public equity strategies, including due diligence process. Ability to conduct research across a wide range of topics (assessing individual strategies and investments; manager analytics and portfolio analytics and construction in long-only strategies regulatory).
4) Knowledge and ability to implement statistical and analytical methods in portfolio management.
5) Proven quantitative and qualitative analytical and problem-solving skills.
6) Creative thinker, and quick learner, with initiative, drive, and attention to detail. Ability to think beyond dimensions of standard portfolio management theory
7) Proactive in searching for new investment ideas/managers.
8) Sound business judgment and confidence of convictions as they relate to investment decisions.
9) Diplomacy and strong interpersonal skills; commitment to work in a team-oriented, multi-cultural environment.
10) Ability to work independently and under pressure and tight time constraints.
11) A strong team player with the confidence to interact at all levels of an organization.
12) Excellent communication and presentation skills, both verbal and written.
13) Highest ethical standards.
To Learn More and Apply
To view the full announcement for this exciting opportunity and apply online with the City of San José, please visit the City of San José’s employment page by clicking on the link below.
Then click on the “Open-Competitive Recruitments” link.
City of San José Employment Page