Managing Director, Dynamic Asset Allocation

State of Maryland • Baltimore City, MD

22h

About The Position

The Maryland State Retirement & Pension System (SRPS) is seeking a Managing Director, DAA (Dynamic Asset Allocation) to work directly with the Chief Investment Office (CIO) and Deputies (DCIOs) to develop and manage a team that will build an integrated, top-down and holistic approach to Maryland SRPS’s strategies. Advocates holistic 'Total Portfolio Approach', leveraging cross- asset class team insights to create proprietary investment opportunities that address global issues and maximize member value given prudent management of risks resulting from an integrated asset liability management framework. Reporting directly to the Deputy Chief Investment Officer, this role is a senior leadership position within the Investment Division and serves as a trusted advisor to the CIO, Executive Director, and Board. This Management Service position services at the pleasure of the Appointing Authority.

Requirements

• Graduation from an accredited four-year college or university with a bachelor’s degree
• 8 years or higher in relevant experience in asset management, investments or finance with a focus on portfolio management, risk management, and constructing quantitative models

Nice To Haves

• Proven track record managing or contributing to multi-asset or global macro portfolios, including responsibility for portfolio construction or risk managed portfolio positioning.
• Experience working with quantitative models for expected returns, macro regimes and asset allocation.
• Demonstrated experience translating macroeconomic views, valuation signals and market conditions into tactical asset allocation trades.
• Understanding of institutional portfolio management and pension governance.
• Demonstrated experience or track record of managing derivative assets relative to a benchmark.
• Supervisory experience of one or more individuals.
• MBA, MS, CFA, CPA, PhD or STEM major preferred or 8+ years of relevant experience

Responsibilities

• Leads and coordinates research efforts covering macroeconomic indicators and surveillance of global and financial developments. Provides analysis of the macroeconomic conditions using quantitative and qualitative research into actionable investment decisions. Formulates and disseminates investment themes and tactical ideas aligned with the prevailing MSRPS’s risk adjusted return objectives. Leads and manages cross asset portfolio strategy research capabilities including rates, yield curve, credit markets, global equities and other investment risk indicators.
• Monitor and manage asset allocation investment risk; identifying risk factors in the existing portfolios and applying a ‘macro-overlay’ to the underlying analysis to ensure there is the appropriate balance between quantitative and qualitative analysis and a solid understanding of correlation risks across the asset clPasses. Investigates and contributes to the management of alternative investment strategies designed to provide diversification to the primary asset class investments.
• Provides high-level oversight and direction to investment staff members to implement and comply with investment policy; implement investment strategies directed by the CIO and the DCIOs; designs and implements appropriate investment techniques to ensure long-term fund sustainability. Provides executive-level leadership, guidance, and oversight for managers and team members. Participates in the selection of investment professionals and encourages a diverse workforce.
• Directs, manages, and monitors implementation of infrastructure, resources, and processes necessary to implement timely and effective MSRPS investment strategies and operations, relative to appropriate benchmarks. This includes oversight of investment servicing, technology, controls, operational risk, policy, talent management, and procurement within Dynamic Asset Allocation. Oversees institutional quality asset management/owner processes, technology & controls. Oversees strategic relationship management functions with fund administrators and custodians, investment and finance industry forums, and pension industry forums. Coordinate communication within the Investment Office on policy matters, program initiatives and new investment strategies that cross asset class lines and facilitate policy consistency across asset classes. Provides high-level oversight and direction to their team members to implement and comply with investment policy.
• Works collaboratively with the MSRPS Board, Executive Office, and the MSRPS’s investment team to execute MSRPS’s missions and vision. Represents MSRPS at external finance, economic, or investment forums relating to macro-economic or multi-asset class risk premia. In conjunction with the Chief Investment Officer, DCIOs and senior management team, builds and maintains a collaborative “Total Fund” culture and assists with goals and objectives, business plans, budgetary planning, and personnel matters.

Benefits

• health insurance, dental, and vision plans offered at a low cost.
• Personal Leave - new State employees are awarded six (6) personnel days annually (prorated based on start date).
• Annual Leave - ten (10) days of accumulated annual leave per year.
• Sick Leave - fifteen (15) days of accumulated sick leave per year.
• Parental Leave - up to sixty (60) days of paid parental leave upon the birth or adoption of a child.
• Holidays - State employees also celebrate at least thirteen (13) holidays per year.
• Pension - State employees earn credit towards a retirement pension.

What This Job Offers

• Job Type: Full-time
• Career Level: Executive
• Number of Employees: 5,001-10,000 employees