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MSRP Investment Associate Intern

Summer Internship ***REVISED***

Recruitment #22-008992-0001

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Introduction

The Maryland State Retirement Agency is the administrator of the Maryland State Retirement and Pension System (the “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. These groups include state government employees, teachers, law enforcement personnel, legislators, judges and local government employees and fire fighters whose employers have elected to participate in the system.

The Investment Division of the Maryland State Retirement Agency seeks two bright, highly motivated individuals to join our Investment Analyst Internship Program. Each Intern will have a hands-on opportunity to apply what has been learned in the classroom to a real world, large-scale investment operation. You will be assigned special projects, learn how to utilize financial software, and work with experts who are responsible for investing the plan assets of the Maryland State Retirement and Pension System, totaling approximately $64.6 Billion as of June 30, 2022.

The Interns, like our Investment Team, must maintain a positive team management approach and be both results driven and creative problem solvers who work together to assist the team in managing our global multi-asset portfolio.

The Investment Division is committed to providing a professional work experience that will give the Investment Analyst Interns a complete understanding of the institutional investment process and to provide a diverse and inclusive workplace that embraces both analytical and innovative thinkers. Interns will have the opportunity to work on special projects in one or more areas including Public Equity, Fixed Income, Real Estate, Private Equity, Absolute Return, Compliance, and/or Accounting and Operations.

GRADE

HRLY 0005

LOCATION OF POSITION

Maryland State Retirement Agency

120 East Baltimore Street

Baltimore, MD  21202

Main Purpose of Job

The Investment Division of the Maryland State Retirement Agency seeks two bright, highly motivated individuals to join our Investment Analyst Internship Program. Each Intern will have a hands-on opportunity to apply what has been learned in the classroom to a real world, large- scale investment operation. You will be assigned special projects, learn how to utilize financial software, and work with experts who are responsible for investing the plan assets of the Maryland State Retirement and Pension System, totaling approximately $64.6 Billion as of June 30, 2022. This is an opportunity for students going into their junior, senior, or graduate studies, or a recent graduate
(May or December 2022).

POSITION DUTIES

As a Summer Intern you will:

  • Have the opportunity to work on special projects in one or more areas of the Investment Division;
  • Conduct research projects that could directly be implemented to make investment decisions;
  • Present research findings to senior management;
  • Have the opportunity to learn about macroeconomic and political events through industry seminars &  conferences and how those events tie into the investment process;
  • Learn about and assist with the investment manager due-diligence process;
  • Acquire foundational skills over a wide range of investment disciplines and asset classes; and
  • Perform other department related projects and duties as assigned.

MINIMUM QUALIFICATIONS

Education: Student matriculating to junior, senior, or graduate status in a four-year college or university at the start of the internship with a 3.0 or higher GPA*.  ALL majors would be considered with the minimum of 15 credit hours in STEM or Finance related subjects. *Recent graduates (May or December 2022) may also apply.

Experience: None.

DESIRED OR PREFERRED QUALIFICATIONS

Preference will be given to applicants who possess the following preferred qualification(s). Include clear and specific information on your application regarding your qualifications to receive credit.

  • Excellent communication and interpersonal skills.
  • Intellectual curiosity and strong problem solving skills.
  • Excellent analytical skills and attention to detail.
  • Proficient in Microsoft Excel, Word, and PowerPoint.
  • Ability to work independently with moderate direction and as part of a team.
  • Ability to establish and maintain cooperative working and professional relationships.
  • Ability to quickly adapt to changes in priorities, assignments, and timelines.
  • Knowledge of or possession of coding skills in R, Python, or other programing languages.
  • Possession of high integrity and ethical values.
  • Have ties to Maryland (attendance of a Maryland based university and/or Maryland residence).

Dates of the Internship:

June 7, 2023 - August 25, 2023 

This internship will follow a hybrid model: a combination of in-person and virtual presence will be required.

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 assessment may consist of a rating of your education, training, and experience related to the requirements of the position. It is important that you provide complete and accurate information on your application. Please report all experience and education that is related to this position.

BENEFITS

Contractual employees who work for an agency covered under the State Employee and Retiree Health and Welfare Benefits Program, have a current employment contract and work 30 or more hours a week (or on average 130 hours per month) may be eligible for subsidized health benefits coverage for themselves and their dependents. As a contractual employee, you will be responsible for paying 25% of the premiums for your medical and prescription coverage, including any eligible dependents you have enrolled. The State of Maryland will subsidize the remaining 75% of the cost for these benefits. You can also elect to enroll in dental coverage, accidental death and dismemberment insurance, and life insurance, but will be responsible to pay the full premium for these benefits. 

Leave may be granted to a contractual employee who has worked 120 days in a 12 month period. This leave accrues at a rate of one hour for every 30 hours worked, not to exceed 40 hours per calendar year.

FURTHER INSTRUCTIONS

The online application process is STRONGLY preferred. If you are unable to apply online, you may mail a paper application to:

DBM/Recruitment & Examination Division   

301 West Preston Street, Room 608

Baltimore, MD 21201  

TRANSCRIPTS ARE REQUIRED FOR THIS RECRUITMENT. For questions regarding this recruitment, please contact the DBM Recruitment and Examination Division at Application.Help@maryland.gov or 410-767-4850, MD TTY Relay Service 1-800-735- 2258.  

As an equal opportunity employer, Maryland is committed to recruiting, retaining and promoting employees who are reflective of the State's diversity. Appropriate accommodations for individuals with disabilities are available upon request by calling 410-767-3623. 

We thank our Veterans for their service to our country and encourage them to apply. 

Bilingual applicants are encouraged to apply.



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