Address
Form of workPosting Details
Position Information
Job Title
TRS Investment Officer 2-Public Equities
Position Type
Civil Service
Appointment Type
Contingent Permanent
Salary
For current NYSTRS employees hired prior to 4/1/2015:
$88,693 to $115,725
All other applicants:
$88,693 to $110,766
Salary Grade
23
Position Summary
All applications to NYSTRS should be done via the https://nystrs.peopleadmin.com/ site. NYSTRS will never ask you to submit private information via email or direct you to submit private information to another site as part of our recruitment process.
This position is eligible for participation in NYSTRS' Flexible Work Pilot Program.
A TRS Investment Officer 2 in the Public Equities Department of the NYS Teachers' Retirement System will perform a variety of analytical and administrative duties in support of the investment and management of the New York State Teachers' Retirement System's (NYSTRS) multi-billion dollar public equities portfolio. They will perform investment activities related to the initial and ongoing due diligence of externally managed strategies. Also, when required, they will provide analytic support for internally managed equity strategies, and administrative support in the day-to-day operation of both externally and internally managed equity strategies. This position will require some travel.
Minimum Qualifications
A bachelor's degree and three years of professional experience either directly engaged in, or in support of, trading and/or portfolio management. This experience must have included at least two years of experience in one of the following: trading public equities for a buy-side organization, broker dealer or public pension plan; utilizing portfolio management tools; utilizing portfolio management concepts, specifically risk management, portfolio construction and performance attribution; managing public market equity investments, including direct portfolio management and oversight of externally-managed portfolios; or investment research stock selection.
Substitutions: A master's degree in Business Administration or a closely related field may substitute for one year of experience; successful completion of all three levels of the CFA exam may substitute for one year of experience; holding a Certificate in Investment Performance Management may substitute for six months of experience.
A maximum of one year of experience substitution is permitted.
Preferred Qualifications
•Advanced degree in finance, accounting, business administration, economics, statistics or a related field
•Chartered Financial Analyst designation; or willingness to pursue the CFA designation
•Practical experience gained as a member of a selection and monitoring team in the public equity asset class across a wide variety of strategies. Such strategies may include: domestic and international investments, fundamental and quantitatively driven strategies, value and growth strategies and across market capitalization.
•Familiarity with screening manager databases like eVestment and analyzing portfolio performance and risk using Factset
•Four or more years of experience in making written recommendations and presentations to a search committee, investment committee or similar oversight group
•Strong written and verbal communication skills
•Strong analytical ability (e.g. design, implement and interpret backtests and statistical models; and interpret and explain multi-factor model risk reports) and familiarity with Barra, Northfield and Factset Portfolio Analysis software
•Self-motivated with the ability to work independently but also as a team player
•Knowledge of scripting languages like VBA for Microsoft Office and Outlook to enhance productivity, or knowledge of a statistical programming language like R is a plus
•Commitment to providing exceptional customer service
•Excellent interpersonal skills
Physical Demands
None
EEO Statement
NYSTRS is an equal opportunity employer. We are committed to fostering an inclusive environment where diversity is valued and recognized as a source of strength and enrichment. We seek to attract talented people from a diverse range of backgrounds and cultures, and encourage women, people of color, LGBTQ individuals, people with disabilities, members of ethnic minorities, foreign-born residents, and veterans to apply.
Job Duties
Description
The TRS Investment Officer 2-Public Equities will be responsible for, but not limited to, the following duties:
•Under the direction of the Manager of Public Equities - External Strategies or his designee(s), the NYSTRS Investment Officer 2 will assist with the manager search effort by: screening public equity manager databases for potential candidates, conducting qualitative and quantitative analyses of prospective managers and related strategies, participating in manager interviews and site visits, and documenting due diligence and recommendations
•Assist the team in the preparation, review, or presentation of investment and manager related material for meetings with the Investment Advisory Committee, Retirement Board, or the Internal Investment Committee
•Partner with other team members to routinely review, write up, and present performance attribution, holdings-based risk and portfolio analyses, and investment guideline compliance of existing managers. Write up observations and flag issues requiring additional follow-up with any managers.
•If requested, review sector carve-outs of internally managed portfolios for companies with important headlines or pending corporate actions. Validate the data integrity and quantitative model forecasts of companies within that sector
•Contribute to investment research projects as requested
•Assist with the contracting process for newly hired managers, as well as when contracts are bilaterally modified by NYSTRS and an existing manager
•Assist with the custodial account opening and closing processes for recently hired or terminated managers
•Conduct a comprehensive annual review of each external manager currently in the public equities portfolio and assist in the annual contract renewal process
•Review and archive audited financial statements, regulatory filings, presentations, and other important, manager-related documents
•Verify and process manager fee payables on a timely basis
•Review research databases or periodicals for information pertinent to NYSTRS' external investment managers
•Track emerging issues, and escalate issues to management when necessary
•Assist with all aspects of transition management, portfolio rebalancing, cash raises, and manager terminations as requested
•Document and update written departmental policies and procedures
•Assist with the preparation of annual budget materials
•Attend conferences to build relevant knowledge and expertise
•Participate in other investment or administrative tasks or projects as requested or as needed
Posting Detail Information
Posting Number
CS0432P
Application Deadline
06/16/2023
Special Instructions to Applicants
There are currently no mandatory re-employment lists at this time. However, please note that if such a list is certified against this title prior to the completion of the selection process, candidates applying based on meeting the minimum qualifications or transferability under Civil Service Law can no longer be considered.
The work hours of this position are subject to change in accordance with Article 12 of the collective bargaining agreement.
This position falls under NYSTRS' Personal Trading policy, which requires pre-clearance of personal trades and reporting of trading activity.
Position Information
Job Title
TRS Investment Officer 2-Public Equities
Position Type
Civil Service
Appointment Type
Contingent Permanent
Salary
For current NYSTRS employees hired prior to 4/1/2015:
$88,693 to $115,725
All other applicants:
$88,693 to $110,766
Salary Grade
23
Position Summary
All applications to NYSTRS should be done via the https://nystrs.peopleadmin.com/ site. NYSTRS will never ask you to submit private information via email or direct you to submit private information to another site as part of our recruitment process.
This position is eligible for participation in NYSTRS' Flexible Work Pilot Program.
A TRS Investment Officer 2 in the Public Equities Department of the NYS Teachers' Retirement System will perform a variety of analytical and administrative duties in support of the investment and management of the New York State Teachers' Retirement System's (NYSTRS) multi-billion dollar public equities portfolio. They will perform investment activities related to the initial and ongoing due diligence of externally managed strategies. Also, when required, they will provide analytic support for internally managed equity strategies, and administrative support in the day-to-day operation of both externally and internally managed equity strategies. This position will require some travel.
Minimum Qualifications
A bachelor's degree and three years of professional experience either directly engaged in, or in support of, trading and/or portfolio management. This experience must have included at least two years of experience in one of the following: trading public equities for a buy-side organization, broker dealer or public pension plan; utilizing portfolio management tools; utilizing portfolio management concepts, specifically risk management, portfolio construction and performance attribution; managing public market equity investments, including direct portfolio management and oversight of externally-managed portfolios; or investment research stock selection.
Substitutions: A master's degree in Business Administration or a closely related field may substitute for one year of experience; successful completion of all three levels of the CFA exam may substitute for one year of experience; holding a Certificate in Investment Performance Management may substitute for six months of experience.
A maximum of one year of experience substitution is permitted.
Preferred Qualifications
•Advanced degree in finance, accounting, business administration, economics, statistics or a related field
•Chartered Financial Analyst designation; or willingness to pursue the CFA designation
•Practical experience gained as a member of a selection and monitoring team in the public equity asset class across a wide variety of strategies. Such strategies may include: domestic and international investments, fundamental and quantitatively driven strategies, value and growth strategies and across market capitalization.
•Familiarity with screening manager databases like eVestment and analyzing portfolio performance and risk using Factset
•Four or more years of experience in making written recommendations and presentations to a search committee, investment committee or similar oversight group
•Strong written and verbal communication skills
•Strong analytical ability (e.g. design, implement and interpret backtests and statistical models; and interpret and explain multi-factor model risk reports) and familiarity with Barra, Northfield and Factset Portfolio Analysis software
•Self-motivated with the ability to work independently but also as a team player
•Knowledge of scripting languages like VBA for Microsoft Office and Outlook to enhance productivity, or knowledge of a statistical programming language like R is a plus
•Commitment to providing exceptional customer service
•Excellent interpersonal skills
Physical Demands
None
EEO Statement
NYSTRS is an equal opportunity employer. We are committed to fostering an inclusive environment where diversity is valued and recognized as a source of strength and enrichment. We seek to attract talented people from a diverse range of backgrounds and cultures, and encourage women, people of color, LGBTQ individuals, people with disabilities, members of ethnic minorities, foreign-born residents, and veterans to apply.
Job Duties
Description
The TRS Investment Officer 2-Public Equities will be responsible for, but not limited to, the following duties:
•Under the direction of the Manager of Public Equities - External Strategies or his designee(s), the NYSTRS Investment Officer 2 will assist with the manager search effort by: screening public equity manager databases for potential candidates, conducting qualitative and quantitative analyses of prospective managers and related strategies, participating in manager interviews and site visits, and documenting due diligence and recommendations
•Assist the team in the preparation, review, or presentation of investment and manager related material for meetings with the Investment Advisory Committee, Retirement Board, or the Internal Investment Committee
•Partner with other team members to routinely review, write up, and present performance attribution, holdings-based risk and portfolio analyses, and investment guideline compliance of existing managers. Write up observations and flag issues requiring additional follow-up with any managers.
•If requested, review sector carve-outs of internally managed portfolios for companies with important headlines or pending corporate actions. Validate the data integrity and quantitative model forecasts of companies within that sector
•Contribute to investment research projects as requested
•Assist with the contracting process for newly hired managers, as well as when contracts are bilaterally modified by NYSTRS and an existing manager
•Assist with the custodial account opening and closing processes for recently hired or terminated managers
•Conduct a comprehensive annual review of each external manager currently in the public equities portfolio and assist in the annual contract renewal process
•Review and archive audited financial statements, regulatory filings, presentations, and other important, manager-related documents
•Verify and process manager fee payables on a timely basis
•Review research databases or periodicals for information pertinent to NYSTRS' external investment managers
•Track emerging issues, and escalate issues to management when necessary
•Assist with all aspects of transition management, portfolio rebalancing, cash raises, and manager terminations as requested
•Document and update written departmental policies and procedures
•Assist with the preparation of annual budget materials
•Attend conferences to build relevant knowledge and expertise
•Participate in other investment or administrative tasks or projects as requested or as needed
Posting Detail Information
Posting Number
CS0432P
Application Deadline
06/16/2023
Special Instructions to Applicants
There are currently no mandatory re-employment lists at this time. However, please note that if such a list is certified against this title prior to the completion of the selection process, candidates applying based on meeting the minimum qualifications or transferability under Civil Service Law can no longer be considered.
The work hours of this position are subject to change in accordance with Article 12 of the collective bargaining agreement.
This position falls under NYSTRS' Personal Trading policy, which requires pre-clearance of personal trades and reporting of trading activity.
