These positions report to the Director of Public Market Alternatives of the Permanent School Fund, a $25 billion public fund endowment. Performs advanced and/or managerial asset management work. The ARS Portfolio Manager is responsible for a variety of functions related to the management of the Permanent School Fund (Fund). These responsibilities fall into several broad categories, including capital market analysis, portfolio analysis, sector specific investment due diligence, security recommendations, trade executions, administrative duties, and professional development. May supervise others. Works under limited supervision, with considerable latitude for the use of initiative and independent judgment.
Essential Job Functions:
- Responsible for overseeing and managing performance of investment managers in their substrategy, perform attribution analysis, and consult on overall investment strategy, asset allocation and risk management.
- Establish effective working relationships with, and assume significant responsibility for, the ongoing review and evaluation of managers.
- Sources and conducts investment due diligence to evaluate managers' investment decision processes, people, operations, and risk management practices. Makes recommendations on security selection/termination decisions.
- Maintain existing risk models and assist in the development of new methods for manager and portfolio risk assessment.
- Coordinates with implementing and executing transitions and asset allocation rebalances.
- Analyze relevant legislation about accounting and tax policies and determine financial impact on investment assets.
- Research, prepare, and present reports on issues pertaining to management of the Fund to executive staff and SBOE as directed.
- Keep current on macro trends for all strategies. Analyze and prepare market and investment commentary.
- Coordinate operations needs with the Director of Investment Operations (accounting, custody, cash management, records management, etc.)
- Mentor and train junior investment professionals.
- Assist in competitive procurements to evaluate prospective investment service providers.
- Supervises the maintenance of data and all other information regarding the managers and portfolios.
- Attends investment related conferences, meetings, and training sessions.
- Performs special projects related to a strategy or hedge fund industry.
- Other duties as assigned.
Education : Graduation from an accredited four year college or university with major course work in finance, accounting or economics. Prefer MBA or CFA.
Experience: A minimum of seven (7) years experience in the analysis, management and research of hedge fund securities and/or direct responsibility for the management of a hedge fund portfolio. Must have actual working and applied knowledge of securities markets, corporate financial statements, and macroeconomics. PC experience with financial databases and software applications to include Excel, Word, PowerPoint and other market tools, e.g., Bloomberg, BondEdge and YieldBook.
Travel: 20% required.
Knowledge, Skills and Abilities (KSA's):
Knowledge of: Securities accounting, procedures and securities market operations. Knowledge of institutional fixed income research, statistical concepts and methods and their application. Knowledge of macroeconomics as affected by fiscal and monetary issues.
Skill in: Applying statistical concepts and in the use of computer equipment and software programs. Must have strong oral/written communication skills. Must have clear focus on excellent customer service. Must have keen interpersonal skills, be results oriented and able to exhibit strong work habits.
Ability to: Act in accordance with the Chartered Financial Analyst Institute code of ethics and standards of professional conduct. Ability to perform analyses of the capital structures, balance sheets and earning statements of companies. Ability to apply financial research techniques, to conduct exhaustive searches and evaluations of large amounts of data utilizing the internet and other resources. Ability to make public presentations. Must have the ability to prioritize the work, to be flexible, manage multiple projects and assignments with attention to details. Must demonstrate a high degree of integrity and the ability to recognize the requirements of confidentiality. Must demonstrate initiative and ability to work in a fast-paced, changing environment. Expected to be a team player, a self starter and an independent thinker. Desired Character traits: Honest, ethical, curious, flexible, respectful and effective working with individuals from diverse professional backgrounds.
This job description is not an employment agreement or contract. Management has the exclusive right to alter this job description at any time without notice. Salary is dependent on qualifications.
Positions exempt from the Fair Labor Standards Act (FLSA) will earn compensatory time off rather than overtime for hours in excess of 40 per week. May be required to work hours other than 8 to 5. May be required to work weekends and holidays.
In accordance with applicable federal and state equal opportunity laws, it is TEA's policy that no person shall be excluded from consideration for recruitment, selection, appointment, training, promotion, retention or any other personnel action, or be denied any benefits or participation in any educational programs or activities which it operates on the grounds of race, religion, color, national origin, sex, disability, age or veteran status (except where age, sex, or disability constitutes a bona fide occupational qualification necessary to proper and efficient administration).
The Immigration Reform and Control Act requires all new employees to present proof of identity and eligibility to work in the United States. TEA does not sponsor H1-B work visas. Males, 18 to 25 years of age, are required to present proof of selective service registration (or exemption) prior to being employed by any state agency.
There is a 90-day waiting period for health insurance coverage and retirement contributions for new hires and re-hires.
This position requires the applicant to meet Agency standards and criteria which may include passing a pre-employment criminal background check, prior to being offered employment by the Agency.