$117.75-$150.30 Hourly / $20,410.00-$26,052.00 Monthly / $244,920.00-$312,624.00 Yearly
The Managing Director is responsible for formulating and designing an investment strategy of a large portfolio of pension plan assets backed by a robust gathering of facts, analysis of such facts, and superior judgment. The Managing Director is also responsible for the effective implementation of the strategy approved by the Chief Investment Officer (CIO) as well as insuring full compliance with all board approved policies, procedures, and guidelines.
The Managing Director possesses an expert level knowledge and understanding in one or more asset classes; provides manager recommendations for the pension plan; is responsible for conducting and supervising the complete and thorough due diligence on prospective managers; is responsible for conducting or supervising the ongoing monitoring of existing managers; has full responsibility for the risk exposures in one or more asset classes; and is responsible for the supervision, development and activities of one or more investment and/or administrative staff.
The 1116 Managing Director is an executive level management position within the Retirement System with full responsibility for design of investment strategy for one or more asset classes, implementation of the strategy, the governance and management of a large portfolio of one or more asset classes consisting of pension plan assets, and insuring compliance with all board approved policies, procedures, and guidelines related to one or more asset classes. Direction is received from the CIO.
The Managing Director carries out their responsibilities with minimal supervision of the CIO, with only broad direction from the CIO. The Managing Director is an expert in the management of a particular asset class.
The Managing Director also contributes substantially to the overall investment strategy and asset allocation for the pension plan as a whole.
The Managing Director also contributes significantly to the overall governance and investment culture within the investment division.
The Managing Director will typically be responsible for the supervision of one or more investment analysts and/or administrative staff. In many instances the Managing Director will be responsible for managing a team of three or more investment professionals.
According to Civil Service Commission Rule 109, the duties specified below are representative of the range of duties assigned to this job code/class and are not intended to be an inclusive list.
Expert level ability to design a forward-looking investment strategy for one or more asset classes. Possesses a keen ability to evaluate a wide array of economic, financial, and behavioral trends to develop a forward-looking strategy that increases SFERS prospects for earning above average returns.
Expert level ability and skill to analyze and evaluate external investment managers and strategies for one or more asset classes. Also an expert level ability to evaluate complex portfolios of a single manager and those of a multi-manager program. Expert level ability to construct a multi-manager portfolio for an asset class that maximizes expected return and diversifies risk.
Possesses outstanding communication skills, both in writing and oral presentations, to the Chief Investment Officer, the Retirement Board, and other stakeholders.
Possesses an excellent ability to insure the implementation and monitoring of an investment strategy for one or more asset classes.
Possesses an excellent understanding of monetary and fiscal policy and possesses a keen ability to determine their probable impact on financial markets and specific investment portfolio.
Contributes significantly to the asset allocation and overall investment strategy for the pension plan as a whole. The Managing Director is also able to make recommendations regarding overall asset allocation that considers the probable risk and return of the portfolio as a whole, beyond their specific area of expertise.
Possesses outstanding skills to motivate, inspire, supervise, and develop other investment professionals assigned to their asset class.
The Managing Director will have strong capabilities to utilize investment information sources such as, Bloomberg, Albourne, Cambridge, Mercer, Wilshire, Zephyr, Style Research, Risk Metrics, Northern Trust Passport, and other quantitative products & methods.
These minimum qualifications establish the education, training, experience, special skills and/or license(s) which are required for employment in the classification. Please note, additional qualifications (i.e., special conditions) may apply to a particular position and will be stated on the exam/job announcement.
Education:
Possession of a baccalaureate degree from an accredited college or university with major coursework in finance, economics, business administration, accounting, statistics, or related field.
Experience:
Ten years of investment experience with an investment management firm, pension plan, university, endowment, foundation, corporation, family office, or consulting firm.
License and Certification:
Substitution:
Possession of a graduate degree in Business Administration, Finance, Statistics, Investment Management, Economics, or related field, or possession of the Chartered Financial Analyst (CFA) designation, may be substituted for an undergraduate degree in a different field than described above.
Three years of investment management experience at a position equivalent to a Managing Director level or higher with an investment management firm, pension plan, university, endowment, foundation, corporation, family office, consulting firm or other investment institution with at least $1 billion in assets, or seven years at a firm of any size with a Managing Director level position or higher, may substituted for an undergraduate degree in a different field than described above.
SUPPLEMENTAL INFORMATION
ORIGINATION DATE: 10/05/2015
AMENDED DATE:
BUSINESS UNIT(S): COMMN