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Managing Director, Dynamic Asset Allocation

Managing Director II SRPS

Recruitment #26-005013-0002

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Introduction

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The Maryland State Retirement and Pension System (MSRPS) administers benefits for over 397,000 members, including active employees, retirees, and vested participants across 12 retirement systems—supporting the financial security of Maryland’s public servants. 

Located in Baltimore’s Central Business District, MSRPS offers a purpose-driven workplace with modern amenities, including panoramic city and harbor views, renovated common areas, upgraded elevators, and an on-site café. 

Employees enjoy comprehensive state benefits including medical, dental, prescription coverage, generous paid leave, participation in the state pension system, and supplemental retirement savings options (401(k), 457(b), and more). Additional perks include an on-site fitness center with showers and lockers, 24/7 building security, and easy access to restaurants, shops, public transit, and major highways.

GRADE

MSRP 0002

LOCATION OF POSITION

120 East Baltimore Street  

Baltimore, Maryland 21202  

Main Purpose of Job

The Maryland State Retirement & Pension System (SRPS) is seeking a Managing Director, DAA (Dynamic Asset Allocation) to work directly with the Chief Investment Office (CIO) and Deputies (DCIOs) to develop and manage a team that will build an integrated, top-down and holistic approach to Maryland SRPS’s strategies. Advocates holistic 'Total Portfolio Approach', leveraging cross- asset class team insights to create proprietary investment opportunities that address global issues and maximize member value given prudent management of risks resulting from an integrated asset liability management framework. Reporting directly to the Deputy Chief Investment Officer, this role is a senior leadership position within the Investment Division and serves as a trusted advisor to the CIO, Executive Director, and Board. 
This Management Service position services at the pleasure of the Appointing Authority.

POSITION DUTIES

Position responsibilities include: 
· Leads and coordinates research efforts covering macroeconomic indicators and surveillance of global and financial developments. Provides analysis of the macroeconomic conditions using quantitative and qualitative research into actionable investment decisions. Formulates and disseminates investment themes and tactical ideas aligned with the prevailing MSRPS’s risk adjusted return objectives. Leads and manages cross asset portfolio strategy research capabilities including rates, yield curve, credit markets, global equities and other investment risk indicators.

 · Monitor and manage asset allocation investment risk; identifying risk factors in the existing portfolios and applying a ‘macro-overlay’ to the underlying analysis to ensure there is the appropriate balance between quantitative and qualitative analysis and a solid understanding of correlation risks across the asset clPasses. Investigates and contributes to the management of alternative investment strategies designed to provide diversification to the primary asset class investments.

· Provides high-level oversight and direction to investment staff members to implement and comply with investment policy; implement investment strategies directed by the CIO and the DCIOs; designs and implements appropriate investment techniques to ensure long-term fund sustainability. Provides executive-level leadership, guidance, and oversight for managers and team members. Participates in the selection of investment professionals and encourages a diverse workforce.

· Directs, manages, and monitors implementation of infrastructure, resources, and processes necessary to implement timely and effective MSRPS investment strategies and operations, relative to appropriate benchmarks. This includes oversight of investment servicing, technology, controls, operational risk, policy, talent management, and procurement within Dynamic Asset Allocation. Oversees institutional quality asset management/owner processes, technology & controls. Oversees strategic relationship management functions with fund administrators and custodians, investment and finance industry forums, and pension industry forums. Coordinate communication within the Investment Office on policy matters, program initiatives and new investment strategies that cross asset class lines and facilitate policy consistency across asset classes. Provides high-level oversight and direction to their team members to implement and comply with investment policy.

· Works collaboratively with the MSRPS Board, Executive Office, and the MSRPS’s investment team to execute MSRPS’s missions and vision. Represents MSRPS at external finance, economic, or investment forums relating to macro-economic or multi-asset class risk premia. In conjunction with the Chief Investment Officer, DCIOs and senior management team, builds and maintains a collaborative “Total Fund” culture and assists with goals and objectives, business plans, budgetary planning, and personnel matters.

MINIMUM QUALIFICATIONS

Education: Graduation from an accredited four-year college or university with a bachelor’s degree

Experience: 8 years or higher in relevant experience in asset management, investments or finance with a focus on portfolio management, risk management, and constructing quantitative models

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.
  • Proven track record managing or contributing to multi-asset or global macro portfolios, including responsibility for portfolio construction or risk managed portfolio positioning.    
  • Experience working with quantitative models for expected returns, macro regimes and asset allocation.      
  • Demonstrated experience translating macroeconomic views, valuation signals and market conditions into tactical asset allocation trades.       
  • Understanding of institutional portfolio management and pension governance.        
  • Demonstrated experience or track record of managing derivative assets relative to a benchmark.
  • Supervisory experience of one or more individuals.   
  • MBA, MS, CFA, CPA, PhD or STEM major preferred or 8+ years of relevant experience

SELECTION PROCESS

Resumes are required as part of your application. Please upload along with application.

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

For education obtained outside the U.S., a copy of the equivalent American education as determined by a foreign credential evaluation service must be provided prior to hire. For further information, you may call International Consultants of Delaware, Inc. (302) 737-8715 or World Education Services Inc. 1-800-932- 3897 or (202) 331-2925.

BENEFITS

STATE OF MARYLAND BENEFITS

As an employee of the State of Maryland, you will have access to outstanding benefits, including: health insurance, dental, and vision plans offered at a low cost.  

· Personal Leave - new State employees are awarded six (6) personnel days annually (prorated based on start date). 

· Annual Leave - ten (10) days of accumulated annual leave per year. 

· Sick Leave - fifteen (15) days of accumulated sick leave per year.

· Parental Leave - up to sixty (60) days of paid parental leave upon the birth or adoption of a child. 

· Holidays - State employees also celebrate at least thirteen (13) holidays per year.   

· Pension - State employees earn credit towards a retirement pension. 

FURTHER INSTRUCTIONS

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

Maryland State Retirement and Pension Systems 

Human Resources Section 

120 E. Baltimore Street 

Baltimore, MD 21202 

Email: Nick Pindale at npindale@sra.state.md.us

PLEASE DO NOT SUBMIT UNSOLICITED DOCUMENTATION   

As an equal opportunity employer, Maryland is committed to recruiting, retaining and promoting employees who are reflective of the State’s diversity.   

People with disabilities and bilingual candidates are encouraged to apply.

We thank our Veterans for their service to our country.   

TTY Users: call via Maryland Relay  



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