Investment Officer—Public Markets

ILLINOIS MUNICIPAL RETIREMENT FUND • Elmhurst, IL

1d • $139,505 - $153,455 • Hybrid

About The Position

It is the mission of the Investment Department to optimize the total return of the IMRF investment portfolio through a policy of long-term diversified investment using parameters of prudent risk management. This position reports to the Managing Investment Officer-Public Markets and works closely with other Investment Officers and staff. The Investment Officer-Public Markets will be an integral member of the investment team for a global investment portfolio with assets in excess of $60 billion. The individual will be responsible for a comprehensive understanding of overarching investment principles, with a focus on multiple public market asset classes, which currently include U.S. Equities, International Equities, and Fixed Income. The Investment Officer-Public Markets will be responsible for evaluating, monitoring, and reporting on the activities of the Fund’s public markets investment managers in compliance with IMRF Investment Policy. This position is also responsible for special projects as assigned and will be responsible for the oversight of the public markets team and associated duties. This position will have contact with the IMRF Board of Trustees, Investment Consultants, Investment Managers, and other investment professionals.

Requirements

• Bachelor’s Degree or Master’s Degree is required. Accounting, Finance, or Economics degrees preferred.
• A minimum of seven years’ experience of investment experience, including at least two years of public markets investment experience and/or institutional investment experience.
• Ability to think critically about manager performance and portfolio decisions
• Demonstrated thoughtful and disciplined approach to public markets investing
• Strong oral and written communication skills
• Outstanding analytical and problem-solving skills
• Ability to employ a rigorous due diligence and manager selection process
• Strong financial modeling skills including working knowledge of Microsoft Excel, PowerPoint and Access
• Proficient use of Software tools, FactSet, and Bloomberg
• Ability to meet deadlines
• Ability to establish positive working relationships demonstrating integrity and respect
• Ability to create and foster an effective team environment
• Strong work ethic
• Ability to take initiative, ownership and work independently as well as working in a team environment.
• Ability to travel overnight occasionally; holds a valid Driver’s License

Nice To Haves

• Chartered Financial Analyst (CFA), CFA Level III candidate or a Chartered Alternative Investment Analyst (CAIA) designation preferred.
• Defined benefit, public pension plan experience is preferred.

Responsibilities

• Manage the public markets program to achieve long-term performance targets within acceptable risk parameters
• Provide input on the portfolio and implement operational practices in a high-performance culture.
• Review and approve FOIA responses in relation to public and private markets in compliance with all legal requirements.
• Recommend strategies across the public market asset classes (US equity, International equity and Fixed Income), regarding new investments with existing and new managers.
• In consideration of portfolio diversification, sector weightings, and risk/return profiles, suggest commitment amounts and draft rationale to Managing Investment Officer for new and follow-on investments
• Conduct due diligence on new and follow-on investments utilizing research data and software tools (i.e. eVestment, Bloomberg and FactSet) with quantitative and qualitative analysis, analyzing data collected from on-site manager meetings and reviewing manager presentations and memos.
• Conduct manager meetings across public markets and prepare prospective and current manager meeting notes in a timely and accurate manner.
• Conduct performance reporting, performance attribution and prepare staff summary on investment opportunities.
• Review performance, financial reports and other documents to monitor the performance of the public markets portfolio on a daily, weekly and quarterly timeframe.
• Assist in the review of the annual asset allocation plan, the Statement of Investment Policy and the triennial ALM study.
• Identify rebalance opportunities (as needed) in the public markets program and assist with transition management.
• Execute any needed changes to investment manager guidelines to better align the manager’s strategies with index and macroeconomic changes and maintain oversight in the development and annual review of public markets investment manager guidelines.
• Assist team with Diversity program in preparing analysis, due diligence, evaluations and proposals for administering diverse and emerging manager investment activity.
• Maintain knowledge of global macro and micro economic conditions and capital markets to justify investment analysis and recommendations.
• Work with Managing Investment Officer, General Counsel, and external counsel to monitor security litigation activities. Provide security transaction data to external counsel upon request and track class action settlements and recoveries.
• Negotiate legal terms governing existing and pending investments.
• Ensure compliance with investment policies and state law.
• Lead and/or participate in public markets manager searches, including creating RFP documents, evaluating RFP candidate documents and responses, conducting due diligence on qualified RFP respondents, creating the RFP search book, and reviewing concerns with legal counsel and the CIO.
• Prepare and present staff memos, manager presentations, and other materials for Investment Committee and Board meetings.
• Monitor IMRF’s proxy voting process and prepare the annual Proxy Voting report to the IMRF Investment Committee of the Board.
• Identify opportunities to improve operational efficiency, reporting quality and recommend solutions that support continuous improvement initiatives.
• Review and/or approve wire transfers
• All other duties as assigned by the Managing Investment Officer and CIO.
• Represent the Investment Department, as needed, at internal meetings for IMRF leaders.
• Represent IMRF positively as a thought leader within the Investment Industry
• Foster a positive culture in support of our Values and individual accountability.
• Support achievement of the organization’s Journey of Excellence, Vision and Strategic Objectives.
• All Investment Officers will also be cross trained to perform all of the tasks and must be familiar with all aspects of Investment Department Operations. These tasks include but are not limited to assignments in real estate; alternative investments; security lending; portfolio guideline compliance reviews; proxy voting; total fund and individual portfolio manager performance reviews; preparation of annual investment reports; and other projects as assigned by management.

Benefits

• Pension, death, and disability benefits as a member of IMRF
• Generous insurance benefits, including medical and dental
• 35-hour base work week, Monday-Friday. Ability to work one day remote, per week, after 1 year of hire.
• Paid vacation, paid sick, 12-13 paid holidays and 2 personal days
• Tuition reimbursement
• Business casual attire

What This Job Offers

• Job Type: Full-time
• Career Level: Senior