Investments Intern

Summary
It is the mission of the Investment Department to optimize the total return of the IMRF investment portfolio through a policy of long-term diversified investment, using parameters of prudent risk management. The Investment Intern will join the Illinois Municipal Retirement Fund Investment team during the Summer of 2024 in our Oak Brook, Illinois office. Investment Interns are hired for a 10-week experience where they will be exposed to a wide variety of career paths in the investing field and learn how to invest and administer a $50 billion public pension plan. The Illinois Municipal Retirement Fund is invested across domestic equity, fixed income, international equity, alternative investments, and real estate asset classes. IMRF also has internally managed assets. This position is paid at $25.00 per hour. To be considered for this role you must be an undergraduate college student obtaining a degree in one of the following majors: Business, Finance, Economics, Investments or related field. Travel costs and or relocation associated with this process will not be incurred by IMRF.
Responsibilities
During the internship, the Investment Intern will receive training and work on a variety of tasks and projects that directly impact the Illinois Municipal Retirement Fund. Investment Interns will report to an Investment Officer and work with the entire Investment Department Staff gaining exposure to internal and external asset management including but not limited to asset allocation, portfolio management, investment manager due diligence and monitoring, performance reporting, securities lending, proxy voting, portfolio analysis, and operations.
General Duties

• Stay abreast of global macro and micro economic conditions and capital markets
• Monitor market, industry, and asset class trends
• Assist in the administration and management of the entire IMRF portfolio
• Work as part of a team to implement best operational practices in a high-performance culture
• Provide operational assistance across all asset classes
• Attend prospective and current investment manager meetings
• Assist with due diligence on prospective investment opportunities and prepare quantitative and qualitative analysis
• Assist with internally managed portfolio implementation strategies using various risk budgeting techniques
• Work with Internal Equity trader to implement trades generated by the investment models and monitor trading costs
• Monitor portfolio risk characteristics, model efficacy and portfolio performance attribution
• Review investment managers' monthly performance reports
• Review consultant's performance reports to monitor investment manager performance
• Assist with onboarding investment managers by following account opening process
• Assist with processing capital calls and distributions notices and prepare letters of direction
• Assist with the review, and processing of investment management fee invoices and prepare letters of direction
• Assist in monitoring investment manager compliance with investment management agreements/guidelines, limited partnership agreements, and IMRF's Investment policies
• Assist with monitoring and reporting of IMRF's Minority Manager and Broker Programs
• Perform ad hoc data analysis and research projects
• Complete a capstone project

All Investment Interns will also be cross trained to perform all the tasks and must be familiar with all aspects of Investment Department. These tasks include but are not limited to: assignments in real estate; alternative investments; security lending; portfolio guideline compliance reviews; proxy voting; total fund and individual portfolio manager performance reviews; preparation of annual investment reports; and other projects as assigned by management.
Qualifications
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. To be considered for this role you must be and undergraduate student studying one of the following fields: Business, Finance, Economics, Investments, or related field.
Approximate dates for internship are June 3, 2024 - August 9, 2024
Education and/or Experience

• Pursuing a bachelor's degree and have recently completed the freshman, sophomore, or junior year by June 2024.

Other Competencies Required

• Passionate about pursuing a career in the Investments field and desire to learn
• Desire to succeed, create, and foster a team-oriented environment
• Capacity to learn quickly and work independently
• Self-motivated with demonstrated success at independent analytical work
• Ability to establish positive working relationships demonstrating integrity and respect
• Strong work ethic
• Ability to take initiative and solve issues in an independent environment
• Strong oral and written communication skills (including presentation skills)
• Strong analytical and problem-solving skills
• Knowledge of Microsoft Office Suite, specifically Microsoft Excel for financial analysis
• Ability to travel occasionally; holds a valid Driver's License
• Ability to work in Oak Brook, Illinois in a full-time capacity for approximately 10 weeks beginning in June 2024

Travel costs associated with the interview process will not be incurred by IMRF.
Applicants interested in applying must submit the following materials uploaded via Taleo before February 29, 2024:

• Current resume
• Cover letter of no more than 400 words, addressing your interest in pursuing a career in investing and why you are interested in doing so at the Illinois Municipal Retirement Fund.
• Current academic transcript
• Letter of recommendation from someone other than a family member who can speak to your academic or work experience.