Actuarial Investment Strategist, VP II - State Street Investment Management

State Street•Boston, MA

About The Position

Who we are looking for We are looking for an energetic professional to be an Actuarial Investment Strategist in our Outsourced Chief Investment Officer (OCIO) group. Based in Boston, the Actuarial Investment Strategist will serve in an investment advisory capacity for OCIO clients. The OCIO team is part of State Street Investment Management Investment Solutions Group (“ISG”), a global multi-asset class solutions team. This position reports to the Managing Director, Head of OCIO Investment Strategy – Investment Solutions Group. You should have ability to analyze and oversee pension or related liabilities, quantitative and qualitative valuations, risk analysis, and link to client strategic asset allocation and total portfolio risk. Proven actuarial and defined benefit (DB) subject matter expertise to support various initiatives and services, including development of liability driven investing models, funded status updates, de-risking glide paths and other asset – liability management analytic services is required. In addition, the candidate will also lead the liability assessment, spending analysis and stochastic modeling for our VEBA, NDT, Endowment & Foundation and Healthcare client channels. You will work closely with senior OCIO investment strategists and relationship personnel to evaluate, design, and monitor liability-based solutions for institutional clients, incorporating capital market assumptions, asset class and liability characteristics, and funding policy into a clear-cut and executable program. Just as important, you will have the proven ability to listen, evaluate, and incorporate client objectives into the strategic asset allocation plan and communicate with internal and external partners on complex investment activities in a clear and concise way. As a member of our Investment Strategist team, you will also collaborate with our manager research team (in public and private markets) in the portfolio construction design process. In a client facing capacity you will partner with our OCIO relationship managers and interface regularly with client investment committees and staff as part of the overall investment portfolio and performance review. Responsibilities and Expectations: Collaborate with client OCIO Relationship Managers to address any client strategic asset allocation issues, concerns, and opportunities Consult with clients on funding and de-risking policies, liability driven asset allocation and de-risking glide-path development Perform ALM for pension clients and spending analysis for not-for-profit clients Help develop long term (5+ years) customized client strategic asset allocation plans Participate actively in the preparation and presentation of client deliverables and new client opportunities Assess and communicate impact of current legal and regulatory environment from an actuarial perspective, and potential considerations for plan sponsors. Position Requirements: ASA designation or progress towards is desirable. Knowledge of pension actuarial formulas, methods, stochastic forecasting and valuations preferred. Knowledge and expertise with US defined benefit plan design, Asset Liability Modeling (ALM) studies, pension risk management and forecasting. UK and Canadian pension liability and actuarial modeling knowledge is also beneficial. Experience working with Moody’s Analytics Pfaroe platform, DB and E&F modules, or comparable platforms is a plus. Demonstrate initiative and work independently; aptitude to self-direct and set priorities in a fast-paced environment Highly organized, meets deadlines, with a strong attention to detail Strong communication skills: verbal, written and presentation; ability to effectively communicate recommendations and rationale to internal parties and clients as well as demonstrated ability to influence outcomes Build and maintain professional relationships with internal and external parties Thrives in business building environment with changing priorities Self-motivated individual with intellectual curiosity, high energy level, strong work ethic and demonstrated personal and professional integrity Are you the right candidate? Yes! We truly believe in the power that comes from the diverse backgrounds and experiences our employees bring with them. Although each vacancy details what we are looking for, we don’t necessarily need you to fulfil all of them when applying. If you like change and innovation, seek to see the bigger picture, make data driven decisions and are a good team player, you could be a great fit. Salary Range: $120,000 - $202,500 Annual The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ. Employees are eligible to participate in State Street’s comprehensive benefits program, which includes: our retirement savings plan (401K) with company match; insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages; paid-time off including vacation, sick leave, short term disability, and family care responsibilities; access to our Employee Assistance Program; incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans); and, eligibility for certain tax advantaged savings plans. For a full overview, visit https://hrportal.ehr.com/statestreet/Home. About State Street Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success. We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future. As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law. Discover more information on jobs at StateStreet.com/careers Read our CEO Statement Job Application Disclosure: It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability. Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success. We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future. As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law. Discover more information on jobs at StateStreet.com/careers Read our CEO Statement

Requirements

ASA designation or progress towards is desirable.
Knowledge of pension actuarial formulas, methods, stochastic forecasting and valuations preferred.
Knowledge and expertise with US defined benefit plan design, Asset Liability Modeling (ALM) studies, pension risk management and forecasting. UK and Canadian pension liability and actuarial modeling knowledge is also beneficial.
Experience working with Moody’s Analytics Pfaroe platform, DB and E&F modules, or comparable platforms is a plus.
Demonstrate initiative and work independently; aptitude to self-direct and set priorities in a fast-paced environment
Highly organized, meets deadlines, with a strong attention to detail
Strong communication skills: verbal, written and presentation; ability to effectively communicate recommendations and rationale to internal parties and clients as well as demonstrated ability to influence outcomes
Build and maintain professional relationships with internal and external parties
Thrives in business building environment with changing priorities
Self-motivated individual with intellectual curiosity, high energy level, strong work ethic and demonstrated personal and professional integrity

Responsibilities

Collaborate with client OCIO Relationship Managers to address any client strategic asset allocation issues, concerns, and opportunities
Consult with clients on funding and de-risking policies, liability driven asset allocation and de-risking glide-path development
Perform ALM for pension clients and spending analysis for not-for-profit clients
Help develop long term (5+ years) customized client strategic asset allocation plans
Participate actively in the preparation and presentation of client deliverables and new client opportunities
Assess and communicate impact of current legal and regulatory environment from an actuarial perspective, and potential considerations for plan sponsors

Benefits

retirement savings plan (401K) with company match
insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages
paid-time off including vacation, sick leave, short term disability, and family care responsibilities
access to our Employee Assistance Program
incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans)
eligibility for certain tax advantaged savings plans

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