This examination will remain open until the needs of LACERA are met and may close without prior notice.
EXAMINATION INFORMATION: Examination Number 9-0768-I, Bulletin Number 13-11 .
$99,523.80 - $150,637.44 (LR12). This position is subject to the provisions of LACERA's Management Appraisal and Performance Program (Chapter 6.127 of the County Code).
NOTE: Applications are required to be submitted online.
The Investment Office is responsible for all aspects of pension fund investment management including asset allocation, liability analysis, investment program structure,and implementation and monitoring.
The current vacancy is located in the Investment Office within the asset class of Hedge Funds.
EXAMPLES OF ESSENTIAL JOB FUNCTIONS:
The following examples are intended to describe the general nature and level of work performed by persons assigned to each classification. Depending on the assignment, duties may include, but are not limited to the following:
Implements investment strategies, under the direction of the Senior Investment Officer, LACERA, Principal Investment Officer, LACERA, and the Chief Investment Officer, in accordance with goals and guidelines adopted by the Board of Investments.
Actively participates in development and implementation of LACERA’s investment policy.
Monitors capital markets, economic forecasts, and provides the Board with ongoing analyses of the state of the global economy as it relates to LACERA’s investment program.
Informs the Senior Investment Officer, LACERA, the Principal Investment Officer, LACERA, the Chief Investment Officer and the Board of Investments as to the status of the asset class.
Prepares written recommendations regarding investment policy, portfolio investment strategies and new investment vehicles.
Evaluates and monitors existing hedge fund managers.
Reviews hedge fund managers’ performance, provides reports and information to the Senior Investment Officer, LACERA, Principal Investment Officer, LACERA, and the Chief Investment Officer and the Board of Investments regarding the state of LACERA’s hedge fund investment program and the general condition of the hedge fund marketplace.
Participates in hedge fund manager searches and making manager selection recommendations.
Presents recommendations to the Board of Investments.
Assists in negotiation of contracts for investment managers and other investment related services. Performs research regarding industry standard and desirable terms for manager agreements.
Follows appropriate investment procedures to ensure proper due diligence review and appropriate written documentation of all investment actions.
Maintains and recommends changes as appropriate to operational procedures with custodian banks, third party administrators, investment managers and related parties to ensure the smooth operational function of transactions and business.
Maintains a system of files for pertinent documents, records, and instruments to ensure the integrity of the program.
In the asset class head’s absence, ensures completion of day-to-day requirements .
A Bachelor's degree from an accredited college or university in Finance, Economics, Business Administration or a related field -AND- Two years' responsible investment management experience assisting in the continuing supervision and review of an extensive investment program for a large financial institution or governmental agency.
A Master's degree in Business Administration or related field.
Two years' experience at the level of Los Angeles County's position of Finance Analyst I, LACERA.
A valid California Class C Driver License or the ability to utilize an alternative method of transportation when needed to carry out job-related essential functions.
Physical Class II - Light physical effort which may include occasional light lifting to a 10 pound limit, and occasional bending, walking, stooping or squatting. Incumbents sit for extended periods of time. Work is performed in an office environment in a controlled climate.
Demonstrated experience in researching, evaluating, and monitoring hedge fund of fund managers, multi-strategy hedge funds or hedge funds in hedged equity, event-driven, relative value, macro, and credit strategies.
Demonstrated experience participating in due diligence of hedge fund or hedge fund of fund managers.
Knowledge of a broad range of hedge fund investment strategies.
Proficiency in using hedge fund risk analytics systems.
Demonstrated experience in developing and implementing investment policies related to hedge fund investments.
Demonstrated ability to present recommendations to a Board or Committee.
Excellent communication skills (both oral and written).
Demonstrated ability to work independently and to meet project deadlines.
Chartered Financial Analyst (CFA) designation preferred. Knowledge of: Hedge Funds and Hedge Fund investment strategies.
Ability to: Communicate clearly and effectively, orally and in writing; understand and follow oral and written directions; provide leadership; work with minimal supervision; plan and organize work and the work of others; and establish and maintain effective working relationships with other staff and with Hedge fund firms.
EXAMINATION CONTENT: All applications and supplemental information will be reviewed and evaluated on the basis of information submitted at the time of filing to determine the level and scope of the candidate’s preparation for the position.
- Accredited institutions are those listed in the publications of regional, national or international accrediting agencies which are accepted by the Department of Human Resources. Publications such as American Universities and Colleges and International Handbook of Universities are acceptable references. Also acceptable, if appropriate, are degrees that have been evaluated and deemed to be equivalent of degrees for United States accredited institutions by an academic credential evaluation agency recognized by The National Association of Credential Evaluation Services.
All information supplied by applicants is subject to verification.
The examination will consist of Three parts:
Part I: Qualifying review of application information. Employment applications will be fully reviewed and accepted/rejected based on the Selection Requirements, Desirable Qualifications AND Supplemental Information Form. Only the most highly qualified candidates as identified in the screening process will proceed to Part II and Part III of the exam process.
Part II: Job related written assessment covering technical knowledge, grammar, punctuation, and written communication skills.
Only the most highly qualified candidates as identified in the assessment process will proceed to the interview.
Part III: An interview weighted 100% which will assess applicants knowledge, experience, and general ability to perform the duties of the position.
A selection interview may be conducted to determine the candidate’s fit for the position. CANDIDATES MUST ACHIEVE A PASSING SCORE OF 70 OR HIGHER ON THE WEIGHTED PORTION OF THE EXAMINATION IN ORDER TO BE PLACED ON THE ELIGIBLE REGISTER.
The names of candidates receiving a passing grade in the examination will be placed on the eligible list in the order of their score group for a period of six (6) months following the date of promulgation.
COMPLETING YOUR APPLICATION:
The acceptance of an employment application depends upon whether or not an applicant has provided adequate information that demonstrates meeting the Selection Requirements for the position as stated above. Please complete the application and supplemental questionnaire thoroughly and completely.
Resumes will not be accepted in lieu of the official application.
In the space provided for education, include the names and addresses of schools attended, and number of credits, degree, and/or certificate(s) earned.
In order to receive credit for any certification, college course work, or college degree, such as an Associate, Bachelor, Master, Doctorate degree, or for completion of a certificate program, you must include a legible copy of the official diploma, official and/or unofficial transcripts, or an official letter from the accredited institution which shows the area of specialization or official certificate(s) with your application.
Applicants must provide the appropriate attachments during application submission, email the documentation to firstname.lastname@example.org , or fax a photocopy of the required documents to (626) 564-6699 within five (5) business days of filing On-line. Please include the examination title and number on the documentation.
Failure to provide the appropriate documentation may result in your application being rejected as incomplete and will be removed from consideration.
For each job held, provide the name and address of your employer, your job titles, beginning and ending dates, description of work performed, salary earned, and reason for leaving.
Part-time experience will be evaluated on the basis of its fractional equivalent of a 40-hour workweek. All required work experience must be paid.
If you have had more than ten (10) years with one employer, please list each job title and/or area of assignment separately to demonstrate your experience in various assignments/occupational areas.
Applications submitted without the supplemental questionnaire will be rejected as incomplete.
Failure to provide all the information will result in your application being removed from consideration. This position may require working evenings, weekends, and holidays.
All information supplied by applicants is subject to verification. Applications may be rejected at any stage of the examination process.
Applicants can check the status of their applications at anytime by logging into their account on www.governmentjobs.com
TO APPLY ONLINE GO TO: www.lacera.com and click on the Careers link.
COMPUTER AND INTERNET ACCESS AT PUBLIC LIBRARIES: For candidates who may not have regular access to a computer or the Internet, applications can be completed on computers at public libraries throughout Los Angeles County.
Faxed or emailed applications will not be accepted.
Candidate(s) who complete examination testing with acceptable results will be considered by the Department hiring authority. Prior to an employment offer, a comprehensive background investigation is conducted, which may include verification of experience, education, credit history, and fingerprinting through the California Department of Justice. A job related pre-placement medical exam will be conducted upon issuance of a conditional offer of employment.
DISABILITY ACCOMMODATION: Pursuant to the Americans with Disabilities Act, if you require material in an alternate format or are an individual requesting reasonable accommodations in the examination process (e.g. assistance in applying for a position, special testing arrangements for readers, or interpreters,) please provide advanced notice of your needs, at least 72 hours, to John Nogales, coordinator of persons with disabilities, at (626) 564-6000 extension 4397. Hearing impaired applicants with TDD equipment may leave typewritten messages at (800) 899-4099.
RECORD OF CONVICTIONS: A full disclosure of all convictions is required. Failure to disclose convictions will result in disqualification. Not all convictions constitute an automatic bar to employment. Factors such as your age at the time of the offense(s), and the recency of offense(s) will be taken into account, as well as the relationship between the offense(s) and the job(s) for which you apply. However, any applicant for County employment who has been convicted of workers' compensation fraud is automatically barred from employment with the County of Los Angeles (County Code Section 5.12.110). ANY CONVICTIONS OR COURT RECORDS WHICH ARE EXEMPTED BY A VALID COURT ORDER DO NOT HAVE TO BE INCLUDED.
SOCIAL SECURITY ACT OF 2004: Section 419 (c) of Public Law 108-203, the Social Security Protection Act of 2004, requires State and local government employers to disclose the effect of the Windfall Elimination Provision and the Government Pension Offset Provision to employees hired on or after January 1, 2005, in jobs not covered by Social Security. The County of Los Angeles does not participate in the Social Security System. All newly hired County of Los Angeles employees must sign a statement (Form SSA-1945) prior to the start of employment indicating that they are aware of a possible reduction in their future Social Security benefit entitlement. For more information on Social Security and about each provision, you may visit the website http://www.socialsecurity.gov or call toll free 1-800-772-1213. Persons who are deaf or hard of hearing may call the TTY number 1-800-325-0778 or contact a local Social Security office.
LOS ANGELES COUNTY CHILD SUPPORT COMPLIANCE PROGRAM: In an effort to improve compliance with court-ordered child, family and spousal obligations, certain employment and identification information (e.g., name, address, Social Security Number and date of hire) is regularly reported to the State Directory of New Hires, which may assist in locating persons who owe these obligations. Family Code Section 17512 permits, under certain circumstances, for additional employment and identifying information to be requested. Applicants will not be disqualified from employment based on this information.
Veteran's Preference Credit of 10 points will be added to the final passing grade in any open competitive examination if you are an honorably discharge veteran who served in the Armed Forces of the United States:
a. During a declared war; or
b. During the period April 28, 1952 through July 1, 1955; or
c. For more than 180 consecutive days, other than for
training, any part of which occurred after January 31
1955, and before October 15, 1976; or
d. In a campaign or expedition for which a campaign medal or expeditionary medal has been authorized and
This also applies to the spouse of such person who, while engaged in such service was wounded, disabled or crippled and thereby permanently prevented from engaging in any remunerative occupation, and also to the widow or widower of any such person who died or was killed while in such service. A DD214, Certificate of Discharge or Separation from Active Duty, or other official documents issued by the branch of service are required as verification of eligibility for Veterans' preference. If you are unable to provide any documentation at the time of filing, the 10 points will be withheld until such time as it is provided.
EMPLOYMENT ELIGIBILITY INFORMATION:
Final appointment is contingent upon verification of U.S. citizenship or the right to work in the United States. Immigration law provides that all persons hired after November 6, 1986, are required to present original documents to the County, within three (3) business days of hiring, which show satisfactory proof of: 1) identity and 2) U.S. employment eligibility.