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Investment Associate

Recruitment #21-005030-0001

Introduction

The Maryland State Retirement Agency is the administrator of the Maryland State Retirement and Pension System.  The System is a multi-employer, public employees’ benefit retirement system composed of twelve (12) separate retirement and pension systems with additional plan components, covering approximately 245,000 active members and more than 160,000 retires and beneficiaries.

The Agency is seeking a committed professional to serve as an Investment Associate within the Investment Division.  The Investment Associate will report to the System’s Risk Manager, and will be an active member of the Investment Division.  The Agency’s Investment team is both results driven and creative problem solvers who work together to manage a global multi-asset portfolio and to provide a secure base of assets to pay the current and future benefits for the underlying retirees and beneficiaries.  The Investment Division is committed to providing an interesting and challenging work environment that will offer the Investment Associate comprehensive exposure to the institutional investment process and to provide a diverse and inclusive workplace that embraces both analytical and creative thinkers.

This is a Special Appointment position and serves at the pleasure of the Appointing Authority.

The Associates program within the Investment Division is a two-year program designed to provide a hands-on experience in institutional asset management.  The program serves as a potential source of viable candidates for the Division’s long-term staffing initiatives.  Associates will have opportunities to gain experience across asset classes as well as operations, accounting, and total plan risk management. Once completed, these experiences will help Associates form an understanding of the different career paths available at the Maryland State Retirement System. At the conclusion of two years, Associates should have developed demonstrable ability to meaningfully contribute to the due diligence of potential/existing managers and implementation of internally managed strategies.  In addition, Associates should become familiar with all the processes and reporting requirements of the Investment Division.

GRADE

MSRP 0006

LOCATION OF POSITION

120 East Baltimore Street

Baltimore, Maryland 21202

Main Purpose of Job

At the outset of their tenure at Agency, the Investment Associate primarily will be responsible for supporting manager selection and monitoring activities related to the approximately $4.7 billion Absolute Return Portfolio.  The ideal candidate will be proficient with statistics and will demonstrate an ability to learn hedge fund investing concepts reasonably quickly.

Secondarily, the Investment Associate will serve as a generalist member of the investment team and will support the Division’s operations and accounting functions as needed.  The Investment Associate may participate in the Division’s macroeconomic, tactical asset allocation, and risk/portfolio construction process.  In addition, they may assist with various projects and data management initiatives as needed.  The ideal candidate will be a multi-tasker able to handle multiple specific responsibilities across the Division at a given time 

POSITION DUTIES

A committed and thoughtful individual will participate in the Associates program to support efficient implementation of the System’s investment strategy.

Responsibilities include but are not limited to:

1.    Assist in manager selection and monitoring of investments for the Absolute Return Portfolio;

2.    Develop intermediate knowledge of several asset classes as well as operations and accounting functions;

3.    Assist in the development and formulation of macroeconomic views and help apply those views into tactical portfolio positioning; and,

      4.   Project and data management.

MINIMUM QUALIFICATIONS

Education: 

Graduated from an accredited four-year college or university with a bachelor’s degree.

Experience: 

None.

DESIRED OR PREFERRED QUALIFICATIONS

A productive and successful candidate will have some of the experiences listed below to achieve success in executing position’s responsibilities: 

* Academic background in accounting, finance, economics, computer science, mathematics, business, or other quantitatively-oriented discipline.

* Internship or other formal experience at a pension, endowment, foundation, or other institutional investment organization.

* Desirable software skills:  Proficient level in Python; Microsoft Excel; Word; PowerPoint.

SELECTION PROCESS

Please make sure that you provide sufficient information on your application to show that you meet the minimum for this recruitment.  All information concerning your qualifications must be submitted by the closing date.  We will not consider information submitted after this date. 

Successful candidates will be ranked as Best Qualified, Better Qualified, or Qualified and placed on the employment (eligible) list for at least one year.  This list will be used by the hiring agency to select employees.

For education obtained outside the U.S., a copy of the equivalent American education as determined by a foreign credential evaluation service must accompany the application.

Due to the confidential nature of the work, selected candidates must undergo and pass a background check.

EXAMINATION PROCESS

The examination will consist of a rating of your education, training, and experience as presented on your application and as they relate to the requirements of the position.  You may be asked to complete a supplemental questionnaire.  The supplemental questionnaire may be used as part of the rating process.  Therefore, it is important that you provide complete and accurate information on your application.

BENEFITS

FURTHER INSTRUCTIONS

Online applications are highly recommended. However, if you are unable to apply online, contact S. Hudson (contact information found below).

For questions regarding this recruitment, please contact the DBM Recruitment and Examination Division at application.help@maryland.gov Or call S.Hudson at 410-767-4910.  

Emailed inquiries should reference recruitment number listed in the announcement.

Resumes will NOT be accepted in lieu of completing the State application.   

MD TTY Relay Service 1-800-735-2258.

For education obtained outside the U.S., a copy of the equivalent American education as determined by a foreign credential evaluation service needs to be provided before hire. 

We thank our Veterans for their service to our country and encourage them to apply. People with disabilities and bilingual candidates are also encouraged to apply.  As an equal opportunity employer, Maryland is committed to recruiting, retaining, and promoting employees who are reflective of the State's diversity.