Investment Manager

LMNC•St. Paul, MN

8d•Hybrid

About The Position

This position is a flexible/hybrid position classified as Primary Onsite with the expectation of being in office three days a week. Posting: Open until filled with first application review taking place October 19, 2026. The Investment Manager performs specialized financial management and investment functions in support of the League of Minnesota Cities and the League of Minnesota Cities Insurance Trust (LMCIT). This position is responsible for overseeing investment activities, ensuring compliance with applicable policies and standards, and supporting financial reporting and analysis related to investment portfolios. The role also provides advanced financial analysis and modeling in support of LMCIT’s surplus and reserve management, including evaluation of adequacy, long-term sustainability, and strategic capital considerations. The role requires independent judgment, technical expertise in governmental and insurance-related investment practices, and the ability to manage multiple priorities under tight deadlines.

Requirements

Bachelor’s degree in accounting, finance, public administration, or related field or equivalent experience.
Five years of experience in investment management, governmental finance, or insurance-related financial reporting.
Knowledge of governmental accounting standards and insurance financial reporting practices.
Strong understanding of investment principles, portfolio management, and performance benchmarking.
Ability to interpret and apply financial policies, regulations, and internal controls.
Strong analytical, organizational, and communications skills.
Ability to work independently and manage multiple projects with competing deadlines.

Nice To Haves

Experience working with third-party investment managers and institutional portfolios preferred.
Advanced degree or professional certification (e.g., CFA, CPA).
Public sector experience.
Familiarity with insurance pools and insurance investments.
Understanding of insurance pool financial structures, including surplus management and reserve adequacy.

Responsibilities

Invests League and LMCIT funds in accordance with established investment policies and state statute, and monitors short- and long-term performance against benchmarks
Oversees financial reporting of League and LMCIT investment activities, including review of documentation from third-party investment managers
Monitors developments in governmental and insurance accounting standards, including GASB pronouncements, and assesses implications for investment reporting
Proposes updates to financial policies and procedures related to investment activities and internal controls
Collaborates with internal and external stakeholders to identify and implement best practices in investment management and insurance financial reporting
Supports the preparation of annual and intra-year investment-related reports and audit documentation
Conducts complex financial analysis related to investment performance, asset allocation, and cash flow forecasting
Maintains documentation and records to support compliance with audit standards and regulatory filings
Serve as staff representative to the 4M Advisory Committee, recruits committee members, regularly report on Fund highlights and performance, organize regular meetings of the committee, report to the 4M Board of Trustees as needed.
Provide oversight of the 4M Fund through regular communication with the Fund Administrator.
Coordinate periodic external review of 4M Fund investment advisor, administrator, and banking partner/custodian; address findings; and implement recommended improvements.
Participate in annual goal setting with the fund administrator; develop annual member survey; and recommend follow up actions.
Provides financial analysis and recommendations to the CFO and LMCIT leadership regarding surplus targets, dividend considerations, and reserve strategies, incorporating actuarial input and organizational risk tolerance.
Oversee and collaborates with external investment advisors to ensure their strategies, reporting, and portfolio decisions align with LMCIT’s investment policy, risk parameters, and long-term performance objectives.
Works with external investment advisors to ensure alignment between investment strategy and surplus management goals.
Prepares and updates various financial (internal and external) policies as necessary or as assigned by the CFO.
Works on special projects related to high level financial issues related to Board communications and financial planning for the League and Trust.
Works with IGR staff in drafting recommended legislative positions and/or testifying at the legislature on bills that could have an impact on member’s finances.
Provides technical guidance and customer service to internal departments on investment-related financial matters.
Performs other duties as assigned.