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  • TRS Investment Officer Trainee/TRS Investment Officer 1, New York State Teachers’ Retirement System (NYSTRS), Albany, NY

TRS Investment Officer Trainee/TRS Investment Officer 1, New York State Teachers’ Retirement System (NYSTRS)

Posted: 05/22/18 | SHARE:

Description:

TRS Investment Officer Trainee/TRS Investment Officer 1 in the Public Equities Department of the NYS Teachers’ Retirement System will support a variety of analytical and administrative duties related to the investment and management of the New York State Teachers’ Retirement System’s multi-billion dollar public equities portfolio. They will support investment activities related to the initial and ongoing due diligence of externally managed strategies. Additionally, when required and with experience, they will provide analytic support for internally managed equity strategies, as well as administrative support in the day-to-day operation of both externally and internally managed equity strategies. This position will require some travel on the part of the incumbent.

Under the direction of management, the TRS Investment Officer Trainee/TRS Investment Officer 1 will be responsible for, but not limited to, the following duties: 
• Assist with the manager search effort by screening public equity manager databases for potential candidates, conducting qualitative and quantitative analyses of prospective managers and related strategies, participating in manager interviews and site visits, and documenting due diligence and recommendations
• Assist the team in the preparation and review of investment and manager related material for meetings with the Investment Advisory Committee, Retirement Board or the Internal Investment Committee
• Partner with other team members to routinely review, write up, and present performance attribution, holdings-based risk and portfolio analyses, and investment guideline compliance of existing managers. Write up observations and flag issues requiring additional follow-up with any managers.
• When assigned, review sector carve-outs of internally managed portfolios for companies with important headlines or pending corporate actions. Validate the data integrity and quantitative model forecasts of companies within that sector.
• Contribute to investment research projects as requested
• Assist with the contracting process for newly hired managers, as well as when contracts are bilaterally modified by NYSTRS and an existing manager.
• Assist with the custodial account opening and closing processes for recently hired or terminated managers.
• Support the comprehensive annual review of each external manager currently in the public equities portfolio and assist in the annual contract renewal process.
• Review and archive audited financial statements, regulatory filings, presentations and other important, manager-related document
• Verify and process manager fee payables on a timely basis
• Review research databases or periodicals for information pertinent to NYSTRS’s external investment managers
• Track emerging issues, and escalate issues to management when necessary
• Assist with all aspects of transition management, portfolio rebalancing, cash raises and manager terminations as requested
• Document and update written departmental policies and procedures
• Assist with the preparation of annual budget materials
• Attend conferences to build relevant knowledge and expertise
• Participate in other investment or administrative tasks or projects as requested or needed

Qualifications:

Minimum Qualifications:

Traineeship Enter at the Grade 14

A bachelor’s degree or higher in Accounting, Business Administration, Economics, Finance, Mathematics, Statistics, Engineering, or in a closely related field.

Traineeship Enter at Grade 16

A bachelor’s degree or higher in Accounting, Business Administration, Economics, Finance, Mathematics, Statistics, Engineering, or in a closely related field; and one year of professional investment experience.

Qualifying experience includes: 
Investment-related duties reflecting a fundamental knowledge of the financial markets and an understanding of the economic forces that impact the financial markets, or analysis of financial or economic data; investment risk or portfolio management; investment operations; investment compliance, investment auditing, investment accounting, and quantitative analysis.

Commercial real estate investing (investment acquisitions or asset management) or commercial mortgage lending, specifically involving the financing, investing in, leasing of, or asset management of large commercial real estate assets (generally properties worth $10 million or more);

Non-qualifying experience includes: 
Activities applicable to small commercial properties (e.g., two to four family homes), the sale or brokerage of single-family homes, or experience marketing or selling financial service products to individuals, as performed by financial advisors and stockbrokers.

Grade 18

A bachelor’s degree or higher in Accounting, Business Administration Economics, Finance, Mathematics, Statistics, Engineering or in a closely related field, and two years of professional investment experience.

Qualifying experience includes: 
Investment-related duties reflecting a fundamental knowledge of the financial markets and an understanding of the economic forces that impact the financial markets, or analysis of financial or economic data; investment risk or portfolio management; investment operations; investment compliance, investment auditing, investment accounting, and quantitative analysis.

Commercial real estate investing (investment acquisitions or asset management) or commercial mortgage lending, specifically involving the financing, investing in, leasing of, or asset management of large commercial real estate assets (generally properties worth $10 million or more);

Non-qualifying experience includes: Activities applicable to small commercial properties (e.g., two to four family homes), the sale or brokerage of single-family homes, or experience marketing or selling financial service products to individuals, as performed by financial advisors and stockbrokers.

Substitutions: Successful completion of all three levels of the CFA exam may substitute for two years of experience; a Chartered Alternative Investment Analyst (CAIA) designation, a Certified Commercial Investment Member (CCIM), a Member of the Appraisal Institute (MAI), or a Certified Public Accountant (CPA) may substitute for one year of experience; and a master’s degree in Business Administration concentrating in Finance or a closely related concentration may substitute for two years of experience.

Preferred Qualifications:

• Chartered Financial Analyst designation or a willingness to pursue it
• An advanced degree in finance, accounting, business administration, economics, statistics, computer science or related field of study
• Practical experience supporting a manager selection and monitoring team in the public equity asset class.
• Experience with portfolio management tools (e.g. Factset, Barra, Bloomberg) 
• Familiarity with portfolio management concepts such as risk management, portfolio construction and performance attribution
• A high level of proficiency with Microsoft Excel and Powerpoint 
• Strong analytical ability
• Knowledge of using scripting languages like VBA for Office or a statistical programming language (e.g. R, Python, etc.) to enhance productivity is a plus
• Strong interpersonal skills and a team orientation 
• Self-motivated and proactive, with the ability to work independently when needed
• Proactive problem solver with a high degree of professionalism and integrity
• Commitment to providing exceptional customer service
• Excellent written and presentation skills

Additional Information:

Position Type: Civil Service

Appointment Type: Temporary

Salary: 

Grade 14-$48,928 to $61,104

Grade 16-$54,729 to $68,349

Grade 18-$61,215 to $76,450

Salary Grade: 18

Application Deadline: 6/21/2018Posting number: CS0089P

Special Instructions to Applicants:

There are currently no mandatory re-employment lists at this time. However, please note that if such a list is certified against this title prior to the completion of the selection process, candidates applying based on meeting the minimum qualifications or transferability under Civil Service Law can no longer be considered.
The work hours of this position are subject to change in accordance with Article 12 of the collective bargaining agreement.
This position falls under NYSTRS’ Personal Trading policy, which requires pre-clearance of personal trades and reporting of trading activity.
This position is temporary pending non-competitive jurisdictional classification.

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