State Investment Officer
STATE INVESTMENT OFFICER RECRUITMENT
The Nebraska Investment Council (NIC or Council), located in Lincoln, Nebraska, is searching for a State Investment Officer (SIO) to lead this independent state investment agency managing over $36 billion in assets. The current SIO has announced his retirement after almost nine years of service.
The NIC’s responsibilities are entirely investment management; they do not administer benefits or determine contribution rates for any of the plans or the spending policy for the non-retirement entities.
This is an exceptional opportunity to work with a highly regarded board and to lead an investment program with a long history of delivering strong investment performance -- returns have exceeded the policy benchmark in every reporting period since 1983.
The SIO is appointed by the Council and reports administratively to the Council Chairwoman.
Leading a team of eight, the SIO oversees $36 billion in assets across 32 investment programs. The Defined Benefit Plans assets of $14+ billion represent the largest pool of assets. Each plan’s financial condition is strong having achieved a funded ratio of over 90%.
The SIO has responsibility and authority, as delegated by the Council, for the management and administration of the investment program. Some of the key responsibilities include:
- Development of procedures and processes to implement policies established by the Council.
- Work with the Council and investment consultant to develop the asset allocation and implementation strategies.
- Ensure adequate controls are in place to safeguard all assets.
- Report on the performance and strategic direction of the investment program.
- Serve as the Council’s representative to key stakeholders and maintain its excellent relationship with the Governor’s Office, Legislature, and others.
Requirements & Preferences
A strategic investment leader who aligns to the NIC’s investment philosophy – “a conservative, deliberate approach” is required. A generalist with broad asset class knowledge and with experience in institutional asset management, portfolio construction, asset allocation and risk management are also required. Some other requirements and preferences include:
- Bachelor’s degree, preferably in finance, economics, or related field.
- Minimum of five years of progressively responsible experience in investment management.
- Experience investing across different economic cycles.
- Track record of positive investment returns as compared to benchmarks.
- Advanced degree.
- CFA and/or CAIA.
- Experience or a respected level of knowledge of investing in private equity and real estate.
- Investment experience in a public pension fund or state investment agency.
- Experience interacting with State elected officials and testifying at Legislative hearings.
Leadership Competencies & Characteristics
The SIO will assume responsibility for a high-performing investment program and lead an experienced investment team that works well together. The Council desires a leader who will continue and improve on these positive trends.
The SIO should be dedicated to public service. A leader who is honest and ethical, and values accountability, transparency, open communication and believes in strong board governance is important. Some other important skills and attributes include:
- Being responsive to Council direction and oversight, and willing to accept constructive criticism and feedback.
- Confidence, poise, and presence to represent the Council and the social and interpersonal skills to build positive relationships with elected officials and key stakeholders.
- Confidence to put forward and defend recommendations while being open to adjusting them based on input from others.
- Strong analytical and critical thinking skills to identify issues and present practical solutions.
- Effective building consensus and effectively negotiating compromise.
Compensation includes a base salary and is competitive to attract top investment professionals. Health care, retirement benefits, and relocation assistance are also provided.
For Additional Information or to Apply
For a copy of the complete position spec or to apply, please contact Hudepohl & Associates, [email protected] or (614) 854-7300.